On Holding AG (NYSE:ONON) Q3 2022 Results Conference Call November 16, 2022 8:00 AM ET
Company Participants
Jerrit Peter - IR
David Allemann - Executive Co-Chairman and Co-Founder
Martin Hoffmann - CFO and Co-CEO
Marc Maurer - Co-CEO
Conference Call Participants
Jay Sole - UBS
Jon Komp - Baird
Michael Binetti - Credit Suisse
Jim Duffy - Stifel
Alex Straton - Morgan Stanley
Tom Nikic - Wedbush Securities
Abbie Zvejnieks - Piper Sandler
Aubrey Tianello - BNP
Operator
Ladies and gentlemen, thank you for standing by. Welcome, and thank you for joining the On Holding AG Q3 2022 Results Call. [Operator Instructions]
I would now like to turn the conference over to Jerrit Peter. Please go ahead.
Jerrit Peter
Good afternoon, good morning, and thank you for joining On’s 2022 third quarter earnings conference call and webcast.
With me today on the call are Executive Co-Chairman and Co-Founder, David Allemann; CFO and Co-CEO, Martin Hoffmann; and Co-CEO, Marc Maurer.
Before we begin, I would like to remind everyone that the remarks during today's call will contain forward-looking statements regarding future events and performance within the meaning of the federal securities laws.
These forward-looking statements reflect our current expectations and beliefs only and such statements are subject to certain risks and uncertainties that could cause actual results to differ materially. Please refer to our 20-F filed with the Securities and Exchange Commission on March 18 for a detailed discussion of such risks and uncertainties.
Please further note that this call will also contain 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 a reconciliation of non-IFRS financial measures to the most comparable measures prepared in accordance with IFRS.
We will begin with David 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 David.
David Allemann
Thank you very much, and a warm welcome from here in Zurich to everyone around the globe joining us today. I'm delighted to be here to speak about another outstanding quarter, and the exciting recent progress and developments at On.
As you will have seen in our release this morning, net sales for the third quarter increased by more than 50% to CHF 328 million, our strongest quarter in history. This makes On a CHF 1 billion net sales company. We're looking at the 12 months leading up to the end of September, and it allows us to increase our full year outlook.