On Holding AG (NYSE:ONON) Q3 2024 Earnings Conference Call November 12, 2024 8:00 AM ET
Company Participants
Jerrit Peter - Head of Investor Relations
Caspar Coppetti - Co-Founder & Executive Co-Chairman
Martin Hoffmann - Chief Financial Officer & Co-Chief Executive Officer
Marc Maurer - Co-Chief Executive Officer
Conference Call Participants
Cristina Fernandez - Telsey Advisory Group
Aubrey Tianello - BNP Paribas
Alex Straton - Morgan Stanley
Jay Sole - UBS
Peter McGoldrick - Stifel
Jonathan Komp - Baird
Anna Andreeva - Piper Sandler
Michael Binetti - Evercore
Janine Stichter - BTIG
Rick Patel - Raymond James
Dylan Carden - William Blair
Operator
Ladies and gentlemen, thank you for standing by. My name is Krista [ph] and I will be your conference operator today. At this time, I would like to welcome everyone to On Holding AG Third Quarter 2024 Results Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers’ remarks, there will be a question-and-answer session. [Operator Instructions] Thank you.
I would now like to turn the conference over to Jerrit Peter, Head of Investor Relations. Jerrit, you may begin.
Jerrit Peter
Good afternoon, good morning to our investor community. Thank you for joining on 2024 third quarter earnings conference call and webcast. With me today on the call are On's Executive Co-Chairman and Co-Founder, Caspar Coppetti; CFO and Co-CEO, Martin Hoffmann; and Co-CEO, Marc Maurer.
Before we begin, I will briefly 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 12 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
A warm welcome from my side and thank you for joining us today. I'm very excited to speak about this record quarter for On. We have reached CHF636 million in net sales in Q3, growing by 33% on a constant currency basis. Very importantly, we also continue to deliver on our ambition to combine significant growth with ongoing profitability expansion. These strong results are supported by the incredible work that our team has done over the past months. Their efforts and dedication have first and foremost, allowed us to make significant progress on the strategic building blocks that we outlined a little more than a year ago as part of our dream On vision, ultimately, to position On as the most premium global sportswear brand with a long runway of profitable and durable growth in the years to come.