On’s First Quarter Profits Surge With 78 Percent Revenue Gain
May 16, 2023
On Holding AG’s profits tripled in the first quarter on strong margin improvement and 78 percent sales growth. The Swiss running brand’s results easily topped analyst targets. Strength was seen across regions, channels and product groups.
Sales of CHF 420.2 million ($470mm) topped Wall Street’s consensus target of CHF 382.3 million. Adjusted EBITDA of CHF 61.0 million ($68mm) easily topped CHF 45.1 million consensus. SGB Media