There is a Swiss company, unlike Credit Suisse and UBS, which is talking about it well on the stock market this week. If the articles about the two banks are the most read terminals Bloomberg, the bible of investors, the “sentiment score” about On Holding, calculated by the financial information agency, is much better, in the charts of the day.
The sports equipment manufacturer On Running, which chose New York for the listing of its holding company, soared 30%, to 28 dollars per share, the highest in a year, compared to an IPO price of $24 in September 2021. The brand, a newcomer to the sneaker space dominated by Nike and Adidas, said today it expects sales of tennis and running sneakers to drive growth in its turnover of 40% this year.
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According to the 2022 accounts published today by the company, which has no other than Roger Federer as ambassador, its billings almost doubled in the fourth quarter and the threshold of one billion Swiss francs over the year was exceeded. for the first time (+68.7%, to 1.22 billion).
In the end, the Zurich group, which does more than half of its business in North America, recorded a net profit of 57.7 million Swiss francs, compared to a loss of 170.2 million in 2021. It s expects, for this year, a further increase in its financial results because air freight has become less expensive, he says, knowing that its factories are mainly located in China and Vietnam, from an expected turnover To ” at least ” 1.7 billion Swiss francs. The adjusted EBITDA margin is expected at 15%, after 13.5% in 2022 and 13.3% in 2021.
No storage problem unlike Adidas
Given its youth, the Swiss company founded in 2010 – which has just recruited a new muse, the currently No. 1 tennis player Iga Swiatek, stolen from Asics – has avoided, unlike Adidas or Puma (20 and 8 times more bigger than it), huge inventory problems (stocking not only costs money but also imposes discounts to dispose of it).
“Despite supply shortages, constrained production capacities and disruptions to global trade routes, 2022 has far exceeded our expectations”declared co-CEO Martin Hoffmann, on the occasion of the publication of the annual accounts.
Not since January 2015 and the explosive decision of the Swiss National Bank to let the Swiss currency soar against the euro has there been so much mention of the word “Swiss” in Bloomberg articles.
