On Holding AG Q2 2025 Earnings Recap

On Holding AG delivered a stellar Q2 2025 performance, achieving a record net sales growth of 38% while enhancing gross profit and adjusted EBITDA margins, establishing a strong foundation for future growth.

Key Takeaways

• Net sales reached CHF 749.2 million, significantly exceeding expectations.
• Gross profit margin expanded to 61.5%, with adjusted EBITDA margin improving to 18.2%.
• Broad-based strength noted across regions, channels, and product categories, highlighting the brand's resilience.
• Successful expansions into apparel and lifestyle markets, increasing brand relevance and appeal, particularly among Gen Z consumers.
• Continued triple-digit growth in Asia, alongside notable performances in the U.S. and Europe, underlining a balanced global portfolio strategy.