A CHF 32 million foreign exchange benefit helped On Holding’s bottom line in the second quarter more than triple to CHF 49,148,000 ($51.0 mm) from CHF 14,210,000, as sales increased 67% to CHF 291,662,000 ($302.6 mm) from CHF 175,062,000. Excluding the currency effects, IPO costs and other items, adjusted EBITDA was just 15% higher at CHF 31,422,000 up from CHF 27,394,000, as adjusted EBITDA margin dropped to 10.8% from 15.7% last year.

Revenues in North America more than doubled, growing 103% to CHF 181.7 million ($188.5 mm), with some of the gains ... Log in to view full article.