2024-05-14 13:15:18 ET
On Holding AG (ONON)
Q1 2024 Earnings Conference Call
May 14, 2024 08:00 AM ET
Company Participants
Jerrit Peter - Head, IR
Caspar Coppetti - Executive Co-Chairman and Co-Founder
Martin Hoffmann - CFO & Co-CEO
Marc Maurer - Co-CEO
Conference Call Participants
Jay Sole - UBS
Tom Nikic - Wedbush
Christina Fernandez - Telsey Advisory Group
Aubrey Tianello - BNP Paribas
Chad Britnell - Morgan Stanley
John Kernan - TD Cowen
Michael Binetti - Evercore
Ashley Owens - KeyBanc Capital Markets
Jonathan Komp - Baird
Anna Andreeva - Needham
Janine Stichter - BTIG
Joseph Civello - Truist Securities
Dylan Carden - William Blair
Adrienne Yih - Barclays
Sam Poser - Williams Trading
Presentation
Operator
Good day. My name is Dennis, and I will be your conference operator. At this time, I would like to welcome everyone to the On Holding AG First Quarter 2024 Results Conference Call. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question-and-answer session. [Operator Instructions]
I would now like to turn the conference over to Jerrit Peter, Head of Investor Relations. Please go ahead.
Jerrit Peter
Good afternoon, good morning, and thank you for joining On's 2024 first quarter earnings conference call and webcast. With me today on the call are Executive Co-Chairman and Co-Founder, Caspar Coppetti; CFO and Co-CEO, Martin Hoffman; and Co-CEO, Marc Maurer.
Before we begin, I would briefly remind everyone that today's call contain forward-looking statements within the meaning of the federal securities laws. These forward-looking statements reflect our current expectations and beliefs only, and are subject to certain risks and uncertainties that could cause actual results to differ materially.
Please refer to our 20-F filed with the SEC on March 12 for a detailed discussion of such risks and uncertainties. We will further reference certain non-IFRS financial measures, such as adjusted EBITDA and adjusted EBITDA margin. These measures are not intended to be considered in isolation or as a substitute for the financial information presented in accordance with IFRS.
Please refer to today's release for reconciliation to the most comparable IFRS measures. We will begin with Caspar, followed by Martin leading through today's prepared remarks, after which we are looking forward to opening the call for a Q&A session.
With that, I'm very happy to turn over the call to Caspar.
Caspar Coppetti
Thank you for joining us today. Martin, Marc and I are in great spirits as we had a fantastic start to 2024. With net sales of CHF508 million in the first quarter, On for the first -- 2024, with net sales of CHF508 million in the first quarter, On for the first time surpassed the $0.5 billion mark in a single quarter....
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On Holding AG (ONON) Q1 2024 Earnings Call Transcript