On Holding AG posts success in first half, profit grows 156.5 percent

The second quarter and first half of 2024 has been a strong one for Swiss sportswear company On Holding AG, which reported a double-digit sales growth for both periods. The half-year report of the brand also showed a strong improvement in net profit.

Net sales totalled 567.7 million Swiss francs in the second quarter, while the company surpassed the one billion mark for the first half of the year, during which net sales amounted to 1.08 billion Swiss francs. On attributed the positive results to "the strength of the multichannel strategy across all markets and products, with an excellent performance in Asia Pacific". In addition, the company's apparel business grew by between 63 and 73.7 percent.

The Swiss sportswear company was not only successful in terms of turnover. On Holding AG also achieved good results beyond the finish line: Net profit grew to 30.8 million Swiss francs in the second quarter, meaning the company ended up with a net profit of 122.2 million Swiss francs in the first half of the year. For comparison: A year earlier, On Holding AG still recorded a net profit of 47.7 million Swiss francs. The profit marks a growth of 156.5 percent.

The strong results mean that On Holding AG is once again confirming its outlook for the full year. The company expects sales growth of at least 30 percent. A strong Swiss franc is expected, which means that net sales of at least CHF 2.26 billion are forecasted.