Quarterly ResultMay 12, 2026, 06:16 AM
On Holding Q1 Net Sales CHF 831.9M (+14.5%); Raises Profit Outlook
AI Summary
On Holding AG reported record first-quarter 2026 results, with net sales increasing 14.5% to CHF 831.9 million, or 26.4% on a constant currency basis. The company achieved record profitability, with gross profit margin reaching 64.2% and adjusted EBITDA margin at 21.0%. Following this strong start, On reiterated its full-year constant currency net sales growth guidance of at least 23% and raised its profitability outlook, expecting a gross profit margin of at least 64.5% and an adjusted EBITDA margin of 19.5% to 20.0%. The company also announced a management transition with Caspar Coppetti and David Allemann becoming Co-CEOs and Frank Sluis joining as CFO.
Key Highlights
- Net sales increased 14.5% to CHF 831.9 million (26.4% constant currency).
- Gross profit margin reached 64.2%, up 430 basis points year-over-year.
- Adjusted EBITDA margin rose to 21.0% from 16.5% in the prior year.
- Net income grew 82.2% to CHF 103.3 million; diluted EPS Class A CHF 0.31.
- Asia-Pacific net sales surged 44.4% (61.4% constant currency).
- Apparel net sales increased 45.1% (57.5% constant currency).
- Reiterated full-year 2026 constant currency net sales growth of at least 23%.
- Raised full-year gross profit margin outlook to at least 64.5% and adjusted EBITDA margin to 19.5%-20.0%.