2024-05-14 09:33:38
Geneva (AWP) – The sports shoe manufacturer On Running saw its turnover exceed half a billion Swiss francs in the first quarter alone. The management of the Zurich-based company listed on Wall Street says it is confident and confirms its objectives for the rest of the year.
From January to March, net sales increased by 21% to 508.2 million Swiss francs, a press release published on Tuesday shows. At a constant exchange rate, the increase is 29%. The company highlights strong demand, efficient inventory management and the good performance of the direct-to-consumer (DTC) sales channel, whose revenue represents 37.5% of total turnover.
By region, Americans recorded the highest income with an increase of 22% to 329.6 million. Europe, the Middle East and Africa (EMEA) followed suit at 126.2 million, or 6.1% more. Finally, Asia-Pacific offers an increase of 68.6% to 52.4 million.
Adjusted operating profit (Ebitda) increased by 27% to 77.4 million. The related margin is 15.2% after 14.5%.
As of March 31, net profit was 91.4 million after 44.4 million on the same date in 2023.
Regarding 2024 as a whole, the management says they are confident because the demand for the On brand remains high and they confirm their turnover growth objectives at a constant exchange rate of 30%, or 2.3 billion. It also expects an Ebitda margin of between 16.0% and 16.5%.
a/ol
#turnover #recorded #Rith #records #beginning #year