On Holding AG (NYSE:ONON) Q2 2023 Earnings Call Transcript August 15, 2023 8:00 AM ET

Company Participants

Jerrit Peter - Investor Relations

David Allemann - Executive Co-Chairman and Co-Founder

Martin Hoffman - Chief Financial Officer and Co-Chief Executive Officer

Marc Maurer - Co- Chief Executive Officer

Conference Call Participants

Cristina Fernandez - Telsey Advisory Group

Alexandra Straton - Morgan Stanley

Jay Sole - UBS

Olivia Townsend - JP Morgan

Aubrey Tianello - BNP Paribas

James Duffy - Stifel

Jonathan Komp - Robert W. Baird

Tom Nikic - Wedbush Securities

Abbie Zvejnieks - Piper Sandler

Sam Poser - Williams Trading

Ashley Owens - KeyBank Capital Markets

Janine Stichter - BTIG

Operator

Good morning. My name is Rob and I will be your conference operator today. At this time, I would like to welcome everyone to the On Second Quarter 2023 Results Conference Call. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question-and-answer session [Operator Instructions] Thank you.

Jerrit Peter, Head of Investor Relations, you may begin your conference.

Jerrit Peter

Good afternoon, good morning and thank you for joining On's 2023 second 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 Hoffman; and Co-CEO, Marc Maurer.

Before we begin, I would like to remind everyone that today's call will contain forward-looking statements within the meaning of the federal securities laws. These forward-looking statements reflect our current expectations and beliefs only and are subject to certain risks and uncertainties that could cause actual results to differ materially. Please refer to our 20-F filed with the SEC on March 21st for a detailed discussion of such risks and uncertainties.

We will further reference 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 reconciliation to the most comparable IFRS measures.

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 all and a warm hello. It's a pleasure to reconnect today. I hope you have had a splendid summer and are now filled with renewed vitality as we approach the second half of the year. In my introduction, I would like to talk to the tremendous vitality of our real team, business, and brand. It's this very energy that allows us to present such an outstanding set of results.