On Holding AG

ladies and gentlemen thank you for standing by my name is krista and i will be your conference operator today at this time i would like to welcome everyone to on holdings ag third quarter 2024 results conference call all lines have been placed on mute to prevent any background noise after the speaker's remarks there will be a question and answer session If you would like to ask a question during that time, simply press star followed by the number one on your telephone keypad. And if you'd like to withdraw that question, again, press star one. Thank you. I would now like to turn the conference over to Jarrett Peter, head of investor relations. Jarrett, you may begin.

Good afternoon. Good morning to our investor community. Thank you for joining on 2024 third quarter earnings conference call and webcast. With me today on the call are ONF Executive Co-Chairman and Co-Founder Caspar Capetti, CFO and Co-CEO Martin Hoffman, and Co-CEO Mark Maurer. Before we begin, I will briefly remind everyone that today's call will contain forward-looking statements within the meaning of the federal securities laws. These forward-looking statements reflect our current expectations and beliefs only and are subject to certain risks and uncertainties that could cause actual results to differ materially. Please refer to our 20F filed with the SEC on March 12th for detailed discussion of such risks and uncertainties. We will further reference certain non-IFRS financial measures, such as adjusted EBITDA and adjusted EBITDA margin. These measures are not intended to be considered in isolation or as a substitute for the financial information presented in accordance with IFRS. Please refer to today's release for reconciliation to the most comparable IFRS measures. We will begin with Casper, followed by Martin, leading through today's prepared remarks. After which, we're looking forward to opening the call for a Q&A session. With that, I'm very happy to turn over the call to Kasper.

A warm welcome from my side, and thank you for joining us today. I'm very excited to speak about this record quarter for ON. We have reached 636 million Swiss francs in net sales in Q3, growing by 33% on a constant currency basis. Very importantly, we also continue to deliver on our ambition to combine significant growth with ongoing profitability expansion. These strong results are supported by the incredible work that our team has done over the past months. Their efforts and dedication have first and foremost allowed us to make significant progress on the strategic building blocks that we outlined a little more than a year ago as part of our dream on vision. ultimately to position on as the most premium global sportswear brand with a long runway of profitable and durable growth in the years to come. One of these core building blocks is centered around boosting global brand awareness amongst our core community. Of course, this included our presence at the Olympics and the inspiring stories our athletes have shared with the world through their achievements or heartbreaking journeys. Stories that have been amplified through traditional and social media surrounding this great event, reaching fans both locally and globally. With these upper funnel investments, we're also reaching new communities. Our authentic long-term partnerships, like the ones with Zendaya or FKA Twigs, are reaching younger demographics, bringing in a new group of fans who are connecting to on through movement in a broader sense. We see this reflected in our quarterly proprietary brand survey. In the U.S., awareness of the on-brand has doubled since last year, now reaching close to 20%. In the city of Paris, the home of the Olympics, our age of brand awareness almost tripled year over year.