On Holding AG (NYSE:ONON) Q2 2022 Earnings Conference Call August 16, 2022 8:00 AM ET Company Participants Caspar Coppetti - Co-Founder & Executive Co-Chairman Martin Hoffmann - Co-CEO & CFO Marc Maurer - Co-CEO Conference Call Participants Cristina Fernández - Telsey Advisory Group Michael Binetti - Crédit Suisse Alexandra Straton - Morgan Stanley Jonathan Komp - Robert W. Baird & Co. Tom Nikic - Wedbush Securities Abigail Zvejnieks - Piper Sandler & Co. Samuel Poser - Williams Trading Jay Sole - UBS James ...

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 - ...

On Holding AG (NYSE:ONON) Q4 2021 Earnings Conference Call March 18, 2022 8:00 AM ET Company Participants Martin Hoffmann – Chief Financial Officer and Co-Chief Executive Officer Marc Maurer – Co-Chief Executive Officer Florian Maag – Head of Investor Relations David Allemann – Co-founder and Co-Chairman Conference Call Participants Jay Sole – UBS Jim Duffy – Stifel Cristina Fernández – Telsey Advisory Group Jon Komp – Braid Kimberly Greenberger – Morgan Stanley Michael Binetti – Credit Suisse Sam Poser – W ...

Financial Performance - Net sales increased by 70.4% to CHF 724.6 million in 2021 compared to 2020[270] - Direct-to-consumer (DTC) sales channel net sales rose by 71.9% to CHF 275.8 million, while wholesale sales channel net sales increased by 69.5% to CHF 448.8 million[278] - Net sales in North America surged by 96.8% to CHF 409.5 million, while Europe and Asia-Pacific saw increases of 38.8% to CHF 260.4 million and 85.8% to CHF 42.7 million, respectively[278] - Net sales for the fiscal year ended December 31, 2021, increased by CHF 299.3 million, or 70.4%, to CHF 724.6 million compared to CHF 425.3 million in 2020[303] - Net sales generated by the wholesale channel increased by CHF 184.0 million, or 69.5%, to CHF 448.8 million in 2021, while the DTC channel saw an increase of CHF 115.3 million, or 71.9%, to CHF 275.8 million[304][305] - North America accounted for 56.5% of total net sales in 2021, with a growth of 96.8%, while Europe represented 35.9% of net sales with a growth of 38.8%[306] - Net sales for the three-month period ended December 31, 2021 increased by CHF 66.8 million, or 53.7%, to CHF 191.1 million compared to CHF 124.3 million in the same period of 2020[321] Profitability - Gross profit rose by 86.2% to CHF 430.3 million, with gross margin increasing from 54.3% to 59.4%[278] - Gross profit for 2021 was CHF 430.3 million, representing a gross margin of 59.4%, compared to CHF 231.1 million and a gross margin of 54.3% in 2020, reflecting an 86.2% increase in gross profit[309] - Gross profit for the same period increased by CHF 47.5 million, or 74.0%, to CHF 111.8 million, with a gross profit margin of 58.5% compared to 51.7% in 2020[330] - Adjusted EBITDA increased by 93.8% to CHF 96.4 million, with adjusted EBITDA margin rising from 11.7% to 13.3%[278] - Adjusted EBITDA for the three-month period ended December 31, 2021, was CHF 11.2 million, with an Adjusted EBITDA Margin of 5.9%, a decrease of 35.0% compared to 9.0% in the same period of 2020[342] Expenses - Selling, general and administrative (SG&A) expenses rose by CHF 323.2 million, or 130.2%, to CHF 571.4 million in 2021, with SG&A as a percentage of net sales increasing to 78.9% from 58.4% in 2020[311] - Distribution expenses as a percentage of net sales increased to 13.3% in 2021 from 12.0% in 2020, primarily due to rising delivery and warehousing rates[312] - Marketing expenses increased by 120.4% to CHF 100.5 million in 2021, representing 13.9% of net sales compared to 10.7% in 2020[311] - Depreciation and amortization expenses increased by CHF 19.3 million, or 159.8%, to CHF 31.4 million in 2021, driven by investments in IT and retail stores[315] - Selling, general and administrative (SG&A) expenses surged by CHF 223.2 million, or 337.8%, to CHF 289.3 million, primarily due to share-based compensation[331] - Depreciation and amortization expenses rose by CHF 8.1 million, or 203.8%, to CHF 12.0 million, attributed to investments in IT and retail infrastructure[333] Cash Flow and Capital Expenditure - Cash increased by 620.5% to CHF 653.1 million, and net working capital rose by 66.0% to CHF 187.5 million[284] - Cash inflow from operating activities increased to CHF 16.9 million in 2021 from a cash outflow of CHF 14.7 million in 2020, representing a 215.1% change[356] - Cash outflow from investing activities rose to CHF 36.4 million in 2021, up from CHF 18.6 million in 2020, marking a 95.7% increase, primarily due to investments in IT infrastructure and new corporate offices[357] - Cash inflow from financing activities surged to CHF 595.9 million in 2021 compared to CHF 124.8 million in 2020, a 377.5% increase, largely driven by proceeds from the IPO[358] - Total capital expenditure was CHF 36.2 million in 2021, up from CHF 18.6 million in 2020, reflecting increased investments in infrastructure[358] Shareholder and Employee Compensation - Share-based compensation expenses surged by CHF 167.2 million to CHF 176.2 million during the three-month period ended December 31, 2021, from CHF 9.0 million in the same period of 2020[335] - Share-based compensation charges amounted to CHF 198.5 million for the year ended December 31, 2021, reflecting the company's incentive plans for employees[367] - The aggregate compensation for executive officers was CHF 83,623k, including CHF 67,328k in share-based compensation[412] - The total amount set aside for pension and retirement benefits for executive officers was CHF 14,373k for the year ended December 31, 2021[413] - The aggregate compensation for the board of directors for the year ended December 31, 2021, was CHF 295k[411] Employee Growth and Diversity - As of December 31, 2021, the total number of employees increased to 1,158 from 744 in 2020, representing a growth of approximately 55.6%[446] - The number of employees in the Asia-Pacific region rose significantly to 136 in 2021 from 58 in 2020, marking an increase of 134.5%[446] - The percentage of female employees increased to 47.8% in 2021 from 46.3% in 2020, indicating a positive trend in gender diversity[446] - The average age of employees decreased to 32.6 years in 2021 from 33.7 years in 2020, suggesting a younger workforce[446] Research and Development - Research and development expenses were CHF 5.3 million in 2021, compared to CHF 1.9 million in 2020 and CHF 1.6 million in 2019[378] Supply Chain and Operational Challenges - The company faced supply chain challenges due to COVID-19, resulting in approximately twelve weeks of lost production in Vietnam[281] - Increased use of airfreight due to supply chain disruptions is expected to continue into the first half of 2022, impacting costs[283] Future Outlook - The company anticipates continued investment in marketing capabilities and expects marketing expenses to increase in absolute dollars as new products are released and international expansion continues[295] - The company anticipates that existing cash and cash equivalents will be sufficient to meet net working capital and capital expenditure needs for at least the next 12 months[353] - Future capital requirements may vary significantly based on sales growth, R&D spending, and overall economic conditions, including the impact of COVID-19[354]

On Announces Fourth Quarter and Full Year Results, and The Filing of Its Annual Report on Form 20-F for 2021 ZURICH, Switzerland, March 18, 2022 - On Holding AG (NYSE: ONON) ("On," "On Holding AG," the "Company," "we," "our," "ours," or "us") today announced its financial results for the fourth quarter and full year, and that it has filed its annual report on Form 20-F (the "Form 20-F") for the year ended December 31, 2021, with the U.S. Securities Exchange Commission. Exhibit 99.1 Martin Hoffmann, Co-CEO a ...

On Holding AG (NYSE:ONON) Q3 2021 Earnings Conference Call November 16, 2021 8:00 AM ET Company Participants Florian Maag - Head of Investor Relations & Corporate Finance Caspar Coppetti - Co-Chairman Martin Hoffmann - CFO, CO-CEO Conference Call Participants Kimberly Greenberger - Morgan Stanley Grace Morley - JPMorgan Michael Binetti - Credit Suisse Jim Duffy - Stifel Jonathan Komp - Baird Cristina Fernandez - Telsey Disclaimer*: This transcript is designed to be used alongside the freely available audio ...