ONON intends to sell 25.4 million shares and selling shareholders will offer 5.7 million shares of Class A ordinary shares at a proposed midpoint price of $19.00 per share for gross proceeds of approximately $591 million, not including the sale of customary underwriter options. On Holding’s recent financial results can be summarized as follows:Ī swing to operating profit and net incomeīelow are relevant financial results derived from the firm’s registration statement:Īs of June 30, 2021, On Holding had $116 million in cash and $400 million in total liabilities.įree cash flow during the twelve months ended June 30, 2021, was $7 million. Major competitive or other industry participants include: The main drivers for this expected growth are an increasing awareness about the importance of fitness and a growing interest in sports and game activities by consumers in various global regions.Īlso, the COVID-19 pandemic negatively affected the athletic footwear retail market, but those effects may have been ameliorated by those manufacturers with significant direct-to-consumer channel capabilities. This represents a forecast CAGR of 4.56% from 2021 to 2026. The Selling, G&A efficiency rate, defined as how many dollars of additional new revenue are generated by each dollar of Selling, G&A spend, rose to 0.8x in the most recent reporting period, as shown in the table below:Īccording to a 2021 market research report by Mordor Intelligence, the global market for athletic footwear was an estimated $99.6 billion in 2020 and is forecast to reach $130 billion by 2026. Selling, G&A expenses as a percentage of total revenue have trended upward as revenues have increased, as the figures below indicate: Its DTC channel contributed 36.6% of total revenue for the six months ended June 30, 2021. The company also sells direct-to-consumer through its online sites and corporate-owned retail stores. ![]() The firm sells its products through running stores, outdoor, fashion and lifestyle retailers worldwide. On Holding has received at least $191 million in equity investment from investors including Point Break Capital, Stripes, HH OAG Holdings HK Ltd. Management is headed by Co-CEO and CFO Martin Hoffman, who has been with the firm since January 2021 and was previously CFO at Valora Retail. ![]() Zurich, Switzerland-based On Holding was founded to develop a premium sports and consumer brand for running shoes and related sports apparel. While the IPO isn’t cheap, the firm is clearly doing something right and has promising growth prospects ahead. ONON has produced impressive topline growth, has achieved operating and net profit, and positive cash flow from operations. The company sells designer athletic footwear and sports apparel products. ![]() On Holding AG ( NYSE: ONON) has filed to raise $591 million from the sale of its Class A ordinary shares in an IPO, according to an amended registration statement. Past performance is a poor indicator of future performance.FreshSplash/E+ via Getty Images Quick Take In no event shall Alpha Spread Limited be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published or available on or relating to the use of, or inability to use, or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive damages. The information on this site is in no way guaranteed for completeness, accuracy or in any other way. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. Under no circumstances does any information posted on represent a recommendation to buy or sell a security. Is not operated by a broker, a dealer, or a registered investment adviser.
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