Swiss Sneaker Firm On Holding Stock Surges as Global Sales Jump

Key Takeaways

On Holding ( ONON ) shares advanced when the Swiss sportswear maker posted better-than-expected results as sales climbed in all its global markets.

The company, part-owned by tennis great Roger Federer, reported fourth-quarter adjusted earnings per share (EPS) of 0.33 Swiss francs ($0.37), with revenue jumping nearly 36% year-over-year to CHF606.6 million ($681.1 million). Both exceeded Visible Alpha forecasts.

Sales rose in every region, including by 28% to CHF385.1 million in the Americas.

Partnerships With Federer, Zendaya 'Have Propelled On to Become a Beloved Brand'

Executive co-chairman David Allemann said On's "partnerships with icons like Roger Federer, Zendaya, and FKA twigs have propelled On to become a beloved brand." Allemann added the company is "confident that On is built to sustain enduring brand love for decades to come."

On sees full-year net sales of at least CHF2.94 billion and adjusted EBITDA margin of 17.0% to 17.5%.

Shares of On Holding, which rose 4% Tuesday morning, have increased more than 45% in the past year.

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