On Holding AG (NYSE:ONON) Q3 2023 Results Conference Call November 14, 2023 8:00 AM ET
Company Participants
Jerrit Peter - Head, IR
Caspar Coppetti - Executive Co-Chairman and Co-Founder
Martin Hoffmann - CFO and Co-CEO
Marc Maurer - Co-CEO
Conference Call Participants
Jim Duffy - Stifel
Jonathan Komp - Baird
Jay Sole - UBS
Alex Straton - Morgan Stanley
Aubrey Tianello - BNP Paribas
Abbie Zvejnieks - Piper Sandler
Cristina Fernández - Telsey Advisory Group
Tom Nikic - Wedbush
Michael Binetti - Evercore ISI
Sam Poser - Williams Trading
John Kernan - TD Cowen
Anna Andreeva - Needham & Company
Ashley Owens - KeyBanc Capital Markets
Janine Stichter - BTIG
Operator
Hello, and welcome to the On Holding AG Q3 2023 Results Call. [Operator Instructions]
I’ll now turn the conference over to Jerrit Peter, Head of Investor Relations. Please go ahead.
Jerrit Peter
Good afternoon, good morning, and thank you for joining On’s 2023 third quarter 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.
Before we begin, I would like to remind everyone 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 a reconciliation to the most comparable IFRS measures. We will begin with Caspar, followed by Martin, leading through today’s prepared remarks, after which we’re looking forward to opening the call for a Q&A session.
With that, I’m very happy to turn over the call to Caspar.
Caspar Coppetti
It is our great pleasure to be here today with you to discuss the results of our thriving business. On continues to have a very strong momentum. In Q3, the outstanding demand for our brand resulted in another record top line quarter with over CHF 480 million net sales. This represents 47% growth year-over-year or even 58% on a constant currency basis. Many of you joined us 6 weeks ago for our Investor Day in Zurich, and we tremendously enjoyed sharing more about On’s unique culture, innovation pipeline and brand vision with you. We aim to be the most premium global sportswear brand, rooted in innovation, design and sustainability.