On Holding AG (NYSE:ONON) Q1 2022 Results Earnings Conference Call May 17, 2022 8:00 AM ET
Company Participants
Florian Maag - Head of Investor Relations
Caspar Coppetti - Co-founder and Co-Chairman
Martin Hoffmann - Chief Financial Officer and Co-Chief Executive Officer
Marc Maurer - Co-Chief Executive Officer
Conference Call Participants
Jonathan Komp - Robert W. Baird
Cristina Fernández - Telsey Advisory Group
Michael Binetti - Credit Suisse
Jim Duffy - Stifel Financial
Jay Sole - UBS
Alexandra Straton - Morgan Stanley
Grace Smalley - J.P. Morgan
John Stansel - Berenberg Capital Markets
Tom Nikic - Wedbush Securities
Florian Maag
Good afternoon. Good morning. And thank you for joining ON's 2022 Q1 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 Hoffmann; and Co-CEO, Marc Maurer.
[Technical Difficulty] financial 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 the risks that could cause actual results to differ materially from those expressed or implied in any forward-looking statements made today.
Please further note that this call will also contain certain non-IFRS financial measures such as adjusted EBITDA and adjusted EBITDA margin. While the company believes these non-IFRS financial measures will provide useful information for investors, the presentation of this information is 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.
With that, I will turn the call over first to Caspar, followed by Martin, for the prepared remarks.
Caspar Coppetti
A warm welcome from my side as well. And thank you for joining our call today. We're happy to report that ON had an excellent start into the year, and that we were able to further build on the momentum from last year, with CHF 236 million of net sales, a growth of 68% versus Q1 2021. We have exceeded even our own high expectations.
As anticipated, Q1 was still constrained by the supply shortages that have been affecting our industry, but our teams along the supply chain have done a phenomenal job navigating the challenges, helping us to reach yet another record quarter.