The footwear brand also hopes to increase its apparel revenues to more than 10 percent of sales.
In an investor presentation Wednesday in Zurich, the running shoe and active brand said it intends to double its projected 2023 net sales and increase its adjusted EBITDA margin to 18 percent by 2026.
As reported, On is projecting net sales of 1.76 billion Swiss francs for the fiscal year ended Dec. 31, 2023, with a gross profit margin of at least 58.5 percent and 15 percent adjusted EBITDA margin. Its projections will bring sales to at least 3.55 billion Swiss francs, reflecting a compounded annual growth rate of over 26 percent, a gross profit margin of over 60 percent and an adjusted EBITDA of more than 18 percent by 2026, the company projected.
The company will also aim to establish select adjacencies in tennis and other sports while beefing up its offering of “full head-to-toe looks across all its verticals,” it said.and apparel. Additionally, we believe there are huge opportunities to increase brand awareness and to expand through our multi-channel approach. We are enthusiastic about our continued growth.” said Martin Hoffmann, co-CEO and chief financial officer.
Long-term goals include increasing its apparel penetration to more than 10 percent of overall sales, while growing its own retail and its China business to the same percentage. And beyond 2026, On is projecting to grow net sales by 20 to 25 percent a year and exceed 20 percent adjusted EBITDA margin.EXCLUSIVE: Miss USA 2023's Top 20 Swimsuits Are 'Not the Typical…. We use vendors that may also process your information to help provide our services.
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