2023-03-21 06:04:04 ET
- On Holding press release ( NYSE: ONON ): Q4 Non-GAAP EPS of CHF0.02.
- Revenue of CHF366.8M (+92.0% Y/Y).
- 2023 Outlook: net sales of at least CHF 1.7 billion for the full year 2023. This represents a year-over-year growth rate of 39%, which takes into account approximately 300 basis points of the current foreign exchange headwinds and therefore reflects a currency-neutral growth rate of 42%.
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As a result of the normalized supply chain environment, On currently does not expect exceptional air freight usage in 2023. Together with a strong inflow of recent products, which will enable a continued high share of full price sell-through, On foresees the continuation of the gross profit margin expansion towards the stated mid-term target of 60%. Considering current FX rates, On currently anticipates a full year 2023 gross profit margin of approximately 58.5%. Driven by ongoing scale gains in SG&A expenses, somewhat offset by an intended re-acceleration of marketing expenses, On expects its adjusted EBITDA margin for the full year 2023 to increase to 15%.
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On Holding Non-GAAP EPS of CHF0.02, revenue of CHF366.8M