{"id":993213,"date":"2026-08-11T05:05:13","date_gmt":"2026-08-11T09:05:13","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/on-reports-results-for-the-second-quarter-and-six-month-period-ended-june-30-2026\/"},"modified":"2026-08-11T05:05:13","modified_gmt":"2026-08-11T09:05:13","slug":"on-reports-results-for-the-second-quarter-and-six-month-period-ended-june-30-2026","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/on-reports-results-for-the-second-quarter-and-six-month-period-ended-june-30-2026\/","title":{"rendered":"On Reports Results for the Second Quarter and Six-Month Period Ended June 30, 2026"},"content":{"rendered":"<p>        <!--.bwalignc { text-align: center; list-style-position: inside }\n.bwalignr { text-align: right; list-style-position: inside }\n.bwblockalignl { margin-left: 0px; margin-right: auto }\n.bwcellpmargin { margin-bottom: 0px; margin-top: 0px }\n.bwlistdisc { list-style-type: disc }\n.bwpadb3 { padding-bottom: 4px }\n.bwpadl0 { padding-left: 0px }\n.bwpadl1 { padding-left: 5px }\n.bwpadl3 { padding-left: 15px }\n.bwpadr0 { padding-right: 0px }\n.bwrowaltcolor1 { background-color: #d3d3d3 }\n.bwsinglebottom { border-bottom: solid black 1pt }\n.bwtablemarginb { margin-bottom: 10px }\n.bwuline { text-decoration: underline }\n.bwvertalignb { vertical-align: bottom }\n.bwvertalignt { vertical-align: top }\n.bwwidth1 { width: 1% }\n.bwwidth10 { width: 10% }\n.bwwidth100 { width: 100% }\n.bwwidth12 { width: 12% }\n.bwwidth15 { width: 15% }\n.bwwidth19 { width: 19% }\n.bwwidth34 { width: 34% }\n.bwwidth48 { width: 48% }\n.bwwidth52 { width: 52% }\n.bwwidth60 { width: 60% }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p class=\"bwalignc\"><b>On Reports Results for the Second Quarter and Six-Month Period Ended June 30, 2026<\/b><\/p>\n<ul class=\"bwlistdisc\">\n<li>\nOn delivers another quarter of premium growth, driven by the strength of its brand, disciplined execution and a deepening connection with consumers worldwide. Net sales increase by 13.5% year-over-year, or by 21.6% on a constant currency basis, to CHF 850.3 million. Growth is led by the extraordinary strength of On\u2019s Direct-to-Consumer (\u201cDTC\u201d) channel, which increases by 26.0%, or 34.3% on a constant currency basis, exceeding expectations in every single region. DTC reaches a new second-quarter high of 45.7% of net sales, while global brand awareness climbs to 30%, as a whole new generation of fans discovers On.<\/p>\n<\/li>\n<li>\nOn continues to successfully execute on its strategic priorities. The Asia-Pacific region again delivers more than 20% of global net sales, powered by standout momentum across Japan, South Korea and Greater China. Net sales in Apparel increase by 47.7%, or 56.2% on a constant currency basis, scaling at pace across verticals. On\u2019s own retail stores drive further gains in key metrics from an already high base, as the Company extends its global network of highly profitable premium brand hubs. In recent weeks On has also opened its first-ever stores in S\u00e3o Paulo and Copenhagen.<\/p>\n<\/li>\n<li>\nReflecting the substantial increase in DTC share, sustainable operational efficiencies and an unwavering commitment to full-price discipline, On delivers another quarter of exceptional profitability. Gross profit margin reaches 65.4%, up 3.9 percentage points year-over-year, even while fully absorbing higher U.S. import tariffs and excluding any tariff refunds. Adjusted EBITDA margin reaches 19.8%, up from 18.2% in the prior year, corresponding to absolute adjusted EBITDA of CHF 168.1 million. Net income margin reaches 12.3%. On demonstrates strong cash conversion, with cash and cash equivalents increasing to CHF 1,205.6 million.<\/p>\n<\/li>\n<li>\nOn further strengthens its position at the intersection of performance, design and culture. At its inaugural Running Summit, the Company unveils the next generation of performance running products that hit the market in the second half of this year and in 2027. This includes the recently launched Cloudboom Strike 2 and the new SURREAL superfoam which will debut in the Cloudsurfer 3 later this year. LightSpray continues to scale from elite validation into a commercial engine and will be introduced to further core franchises. At the same time, On\u2019s connection with a new generation deepens: consumers under 34 now represent over one-third of the customer base, with the Cloudtilt franchise resonating particularly strongly with this important demographic.<\/p>\n<\/li>\n<li>\nConsistent with its premium strategy and commitment to only pursuing growth that protects and elevates the brand, On expects full-year 2026 constant currency net sales growth in the low-20% range. This includes the deliberate management of wholesale sell-in, including to secure a strong and clean runway for the upcoming breakthrough innovations. Reflecting On\u2019s growing DTC mix and the enduring strength of its full-price discipline, On raises its full-year gross profit margin expectation to at least 65.0% and reiterates its adjusted EBITDA margin guidance of 19.5% to 20.0%.<\/p>\n<\/li>\n<\/ul>\n<p>ZURICH, Switzerland&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\nOn Holding AG (NYSE: ONON) (\u201cOn,\u201d \u201cOn Holding AG,\u201d the \u201cCompany,\u201d \u201cwe,\u201d \u201cour,\u201d \u201cours,\u201d or \u201cus\u201d), has announced its financial results for the second quarter and six-month period ended June 30, 2026.<\/p>\n<p>\nDavid Allemann, Founder and Co-CEO of On, said: &#8220;We are proving that a brand can achieve global scale without compromising its premium brand positioning. Our Q2 results reflect this discipline &#8211; demonstrating strong net sales growth globally, significant expansion of our own channels, and an exceptional gross profit margin. This financial strength allows us to reinvest in what drives our long-term success: authentic brand connections, premium customer experiences, and, above all, continuous performance innovation. Our founder-led perspective keeps us focused on taking the right decisions as we build the most premium global sportswear brand for decades to come with an enviable, compounding financial profile.&#8221;<\/p>\n<p>\nFrank Sluis, CFO of On, said: &#8220;In my first quarter with On, it has been a privilege to see the incredible ambition and innovation culture of the team firsthand, which is clearly reflected in the strong set of results this quarter. Delivering 21.6% constant currency growth alongside an industry-leading 65.4% gross margin shows the structural benefits of leading with innovation and brand heat. It also underscores the discipline that differentiates our financial profile. We do not compromise our full-price integrity for volume &#8211; even in the heavily promotional environment we saw this quarter in some markets. We expect constant currency growth in the low-20% range for the full-year while raising our gross profit margin expectation to at least 65.0% and maintaining our adjusted EBITDA margin guidance at 19.5% to 20.0% as we pursue high quality growth.&#8221;<\/p>\n<p><b>Key Financial and Operating Metrics<\/b><\/p>\n<p>\nKey financial and operating metrics for the three-month period ended June 30, 2026 compared to the three-month period ended June 30, 2025 include:<\/p>\n<ul class=\"bwlistdisc\">\n<li>\nnet sales increased by 13.5% to CHF 850.3 million, or by 21.6% on a constant currency basis;<\/p>\n<\/li>\n<li>\nnet sales through the direct-to-consumer (&#8220;DTC&#8221;) sales channel increased by 26.0% to CHF 388.4 million, or by 34.3% on a constant currency basis;<\/p>\n<\/li>\n<li>\nnet sales through the wholesale sales channel increased by 4.8% to CHF 461.9 million, or by 12.7% on a constant currency basis;<\/p>\n<\/li>\n<li>\nnet sales in Europe, Middle East and Africa (\u201cEMEA\u201d), Americas and Asia-Pacific increased by 15.4% to CHF 228.2 million, 4.5% to CHF 451.6 million and 43.1% to CHF 170.5 million, respectively;<\/p>\n<\/li>\n<li>\nnet sales in EMEA, Americas, and Asia-Pacific increased by 20.5%, 13.0% and 54.7% on a constant currency basis, respectively;<\/p>\n<\/li>\n<li>\nnet sales from shoes, apparel and accessories increased by 10.9% to CHF 781.6 million, 47.7% to CHF 54.2 million and 88.3% to CHF 14.5 million, respectively;<\/p>\n<\/li>\n<li>\nnet sales from shoes, apparel and accessories increased by 18.9%, 56.2%, and 102.2% on a constant currency basis, respectively;<\/p>\n<\/li>\n<li>\ngross profit increased by 20.6% to CHF 555.7 million from CHF 460.8 million;<\/p>\n<\/li>\n<li>\ngross profit margin increased to 65.4% from 61.5%;<\/p>\n<\/li>\n<li>\nnet income \/ (loss) increased by 356.5% to CHF 105.0 million from CHF (40.9) million;<\/p>\n<\/li>\n<li>\nnet income \/ (loss) margin increased to 12.3% from (5.5)%;<\/p>\n<\/li>\n<li>\nbasic earnings per share (\u201cEPS\u201d) Class A (CHF) increased to 0.31 from (0.12);<\/p>\n<\/li>\n<li>\ndiluted EPS Class A (CHF) increased to 0.31 from (0.12);<\/p>\n<\/li>\n<li>\nadjusted earnings before interest, taxes, depreciation and amortization (&#8220;Adjusted EBITDA&#8221;) increased by 23.5% to CHF 168.1 million from CHF 136.1 million;<\/p>\n<\/li>\n<li>\nadjusted EBITDA margin increased to 19.8% from 18.2%;<\/p>\n<\/li>\n<li>\nadjusted net income \/ (loss) increased to CHF 117.6 million from CHF (29.7) million;<\/p>\n<\/li>\n<li>\nadjusted basic EPS Class A (CHF) increased to 0.35 from (0.09); and<\/p>\n<\/li>\n<li>\nadjusted diluted EPS Class A (CHF) increased to 0.35 from (0.09).<\/p>\n<\/li>\n<\/ul>\n<p>\nKey financial and operating metrics for the six-month period ended June 30, 2026 compared to the six-month period ended June 30, 2025 include:<\/p>\n<ul class=\"bwlistdisc\">\n<li>\nnet sales increased by 14.0% to CHF 1,682.2 million; or by 24.0% on a constant currency basis;<\/p>\n<\/li>\n<li>\nnet sales through the DTC sales channel increased by 21.4% to CHF 710.7 million, or by 31.6% on a constant currency basis;<\/p>\n<\/li>\n<li>\nnet sales through the wholesale sales channel increased by 9.1% to CHF 971.5 million, or by 19.0% on constant currency basis;<\/p>\n<\/li>\n<li>\nnet sales in EMEA, Americas and Asia-Pacific increased by 18.8% to CHF 435.4 million, 3.8% to CHF 902.3 million and 43.7% to CHF 344.5 million, respectively;<\/p>\n<\/li>\n<li>\nnet sales in EMEA, Americas, and Asia-Pacific increased by 22.8%, 15.0% and 58.1% on a constant currency basis, respectively;<\/p>\n<\/li>\n<li>\nnet sales from shoes, apparel and accessories increased by 11.5% to CHF 1,545.3 million, 46.4% to CHF 109.5 million and 80.3% to CHF 27.4 million, respectively;<\/p>\n<\/li>\n<li>\nnet sales from shoes, apparel and accessories increased by 21.4%, 56.9%, and 94.4% on a constant currency basis, respectively;<\/p>\n<\/li>\n<li>\ngross profit increased by 21.6% to CHF 1,090.0 million from CHF 896.1 million;<\/p>\n<\/li>\n<li>\ngross profit margin increased to 64.8% from 60.7%;<\/p>\n<\/li>\n<li>\nnet income increased by 1221.5% to CHF 208.3 million from CHF 15.8 million;<\/p>\n<\/li>\n<li>\nnet income margin increased to 12.4% from 1.1%;<\/p>\n<\/li>\n<li>\nbasic EPS Class A (CHF) increased to 0.63 from 0.05;<\/p>\n<\/li>\n<li>\ndiluted EPS Class A (CHF) increased to 0.62 from 0.05;<\/p>\n<\/li>\n<li>\nadjusted EBITDA increased by 33.7% to CHF 342.3 million from CHF 256.1 million;<\/p>\n<\/li>\n<li>\nadjusted EBITDA margin increased to 20.3% from 17.4%;<\/p>\n<\/li>\n<li>\nadjusted net income increased to CHF 241.1 million from CHF 40.9 million;<\/p>\n<\/li>\n<li>\nadjusted basic EPS Class A (CHF) increased to 0.72 from 0.12; and<\/p>\n<\/li>\n<li>\nadjusted diluted EPS Class A (CHF) increased to 0.72 from 0.12.<\/p>\n<\/li>\n<\/ul>\n<p>\nKey financial and operating metrics as of June 30, 2026 compared to December 31, 2025 included:<\/p>\n<ul class=\"bwlistdisc\">\n<li>\ncash and cash equivalents increased by 18% to CHF 1,205.6 million from CHF 1,019.9 million; and<\/p>\n<\/li>\n<li>\nnet working capital increased by 11.5% to CHF 635.9 million from CHF 570.3 million.<\/p>\n<\/li>\n<\/ul>\n<p>\nAdjusted EBITDA, adjusted EBITDA margin, adjusted net income, adjusted basic EPS, adjusted diluted EPS, net working capital and net sales on a constant currency basis are non-IFRS measures used by us to evaluate our performance. Furthermore, we believe these non-IFRS measures enhance investors&#8217; understanding of our financial and operating performance from period to period because they enhance the comparability of results between each period, help identify trends in operating results and provide additional insight and transparency on how management evaluates the business. Adjusted EBITDA, adjusted EBITDA margin, adjusted net income, adjusted basic EPS, adjusted diluted EPS, net working capital and net sales on a constant currency basis should not be considered in isolation or as a substitute for other financial measures calculated and presented in accordance with IFRS. For a detailed description and a reconciliation to the nearest IFRS measure, see the section titled \u201cNon-IFRS Measures.\u201d<\/p>\n<p><b>Outlook<\/b><\/p>\n<p>\nFollowing a very strong first half of 2026, On approaches the second half of the year with discipline and commitment to its premium growth model. While DTC momentum remains highly encouraging, On is deliberately managing wholesale sell-in to protect full-price integrity in a promotional marketplace, ensuring a clean runway for On&#8217;s upcoming breakthrough innovations leading into 2027. Reflecting this disciplined approach, and excluding any benefits from anticipated tariff refunds in the second half of the year, On expects the following for full-year 2026:<\/p>\n<ul class=\"bwlistdisc\">\n<li><b>Net Sales:<\/b> Expected to grow in the low-20% range on a constant currency basis, with the DTC channel expected to strongly outperform wholesale in the second half of the year. At current spot rates, this implies absolute net sales of CHF 3.47 billion to CHF 3.56 billion.\n<\/li>\n<li><b>Gross profit margin: <\/b>Expected to be at least 65.0%, demonstrating the strength of and commitment to On&#8217;s premium operating model and the highly favorable DTC mix.\n<\/li>\n<li><b>Adjusted EBITDA margin: <\/b>As On continues to pursue high quality growth and keeps investing in its future, adjusted EBITDA margin is expected in the range 19.5% to 20.0%.\n<\/li>\n<\/ul>\n<p>\nOther than with respect to IFRS net sales and gross profit margin, On only provides guidance on a non-IFRS basis. The Company does not provide a reconciliation of forward-looking adjusted EBITDA to IFRS net income due to the inherent difficulty in forecasting and quantifying certain amounts that are necessary for such reconciliation. As a result, we are not able to forecast with reasonable certainty all deductions needed in order to provide a reconciliation to net income. The above outlook is based on current market conditions and reflects the Company\u2019s current and preliminary estimates of market and operating conditions and customer demand, which are all subject to change. Actual results and the timing of events could differ materially from those anticipated in these forward-looking statements as a result of risks and uncertainties, including those stated below and in our filings with the U.S. Securities and Exchange Commission (the &#8220;SEC&#8221;).<\/p>\n<p><b>Conference Call Information<\/b><\/p>\n<p>\nA conference call to discuss second quarter results is scheduled for August 11, 2026 at 8 a.m. U.S. Eastern time (2 p.m. Central European Time). Those interested in participating in the call are invited to dial the following numbers:<\/p>\n<p>\nUnited States: +1 585 542 99 83<br \/>\n<br \/>United Kingdom: +44 117 389 01 04<br \/>\n<br \/>Switzerland: +41 800 200 0 46<\/p>\n<p>\nConference ID: 701026773<\/p>\n<p>\nAdditionally, a live webcast of the conference call will be available on the Company&#8217;s investor relations website and under the following link: <span class=\"bwuline\"><a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fevents.q4inc.com%2Fattendee%2F701026773&amp;esheet=54587470&amp;newsitemid=20260811551884&amp;lan=en-US&amp;anchor=https%3A%2F%2Fevents.q4inc.com%2Fattendee%2F701026773&amp;index=1&amp;md5=fdc858bb0ea428ec84c3f40aea6b6799\">https:\/\/events.q4inc.com\/attendee\/701026773<\/a><\/span>. Following the conclusion of the call, a replay of the conference call will be available on the Company&#8217;s website.<\/p>\n<p><b>About On<\/b><\/p>\n<p>\nOn was born in the Swiss Alps in 2010 with the mission to ignite the human spirit through movement \u2013 a mission that still guides the brand today. Sixteen years after market launch, On delivers industry-disrupting innovation in premium footwear, apparel and accessories for high-performance running, outdoor, training, all-day activities and tennis. On\u2019s award-winning CloudTec\u00ae and LightSpray\u2122 innovation, purposeful design and groundbreaking strides within the circular economy have attracted a fast-growing global fan base \u2013 inspiring humans to explore, discover and Dream On.<\/p>\n<p>\nOn is present in more than 90 countries globally and engages with a digital community on <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.on.com&amp;esheet=54587470&amp;newsitemid=20260811551884&amp;lan=en-US&amp;anchor=www.on.com&amp;index=2&amp;md5=b3d380fd3885cd02efd18500b76d7403\">www.on.com<\/a>.<\/p>\n<p><b>Non-IFRS Measures<\/b><\/p>\n<p>\nAdjusted EBITDA, adjusted EBITDA margin, adjusted net income, adjusted basic EPS, adjusted diluted EPS, net working capital, and net sales on a constant currency basis are financial measures that are not defined under IFRS. We use these non-IFRS measures when evaluating our performance, including when making financial and operating decisions, and as a key component in the determination of variable incentive compensation for employees. We believe that, in addition to conventional measures prepared in accordance with IFRS, these non-IFRS measures enhance investor understanding of our financial and operating performance from period to period, because they exclude share-based compensation which is not viewed by management as part of our ongoing operations and performance, enhance the comparability of results between each period, help identify trends in operating results and provide additional insight and transparency on how management evaluates the business. In particular, we believe adjusted EBITDA, adjusted EBITDA margin, adjusted net income and net working capital are measures commonly used by investors to evaluate companies in the sportswear industry.<\/p>\n<p>\nHowever, adjusted EBITDA, adjusted EBITDA margin, adjusted net income, adjusted basic EPS, adjusted diluted EPS, net working capital, and net sales on a constant currency basis should not be considered in isolation or as a substitute for other financial measures calculated and presented in accordance with IFRS and may not be comparable to similarly titled non-IFRS measures used by other companies. The tables below reconcile each non-IFRS measure to its most directly comparable IFRS measure.<\/p>\n<p>\nAs noted above, we do not provide a reconciliation of forward-looking adjusted EBITDA to IFRS net income due to the inherent difficulty in forecasting and quantifying certain amounts that are necessary for such reconciliation. The amount of these deductions may be material and, therefore, could result in projected net income being materially less than projected adjusted EBITDA. These statements represent forward-looking information and may represent a financial outlook, and actual results may vary. Please see the risks and assumptions referred to in the Forward-Looking Statements section of this press release.<\/p>\n<p>\nNet sales on a constant currency basis is a non-IFRS financial measure and should be viewed as a supplement to our results under IFRS. Net sales on a constant currency basis represents current period results that have been retranslated using exchange rates used in the prior year comparative period. We provide constant currency percent change in net sales within our results, to enhance the visibility of the underlying growth rate of net sales, excluding the impact of foreign currency exchange rate fluctuations.<\/p>\n<p><b>Forward-Looking Statements<\/b><\/p>\n<p>\nThis press release contains statements that may constitute \u201cforward-looking\u201d statements pursuant to the \u201csafe harbor\u201d provisions of the U.S. Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Many of the forward-looking statements contained in this press release can be identified by the use of forward-looking words such as \u201canticipate,\u201d \u201cbelieve,\u201d \u201ccontinue,\u201d \u201ccould,\u201d \u201cexpect,\u201d \u201cestimate,\u201d \u201cforecast,\u201d \u201cintend,\u201d \u201cmay,\u201d \u201cplan,\u201d \u201cpotential,\u201d \u201cpredict,\u201d \u201cproject,\u201d \u201ctarget,\u201d \u201cwill,\u201d \u201cwould,\u201d and \u201cshould,\u201d among others.<\/p>\n<p>\nAmong other things, On\u2019s quotations from management in this press release and other written materials, as well as On\u2019s strategic and operational plans, contain forward-looking statements. On may also make written or oral forward-looking statements in its periodic reports to the SEC, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Further, On uses the investors.on-running.com website as well as LinkedIn as means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD. Forward-looking statements appear in a number of places in this press release and include, but are not limited to, statements regarding our intent, belief or current expectations. Forward-looking statements are based on our management\u2019s beliefs and assumptions and on information currently available to our management.<\/p>\n<p>\nSuch statements are subject to risks and uncertainties, and actual results may differ materially from those expressed or implied in the forward-looking statements due to various factors, including, but not limited to, those identified under the section titled \u201cRisk Factors\u201d in our Annual Report. These risks and uncertainties include factors relating to: the strength of our brand and our ability to maintain our reputation and premium brand image; our ability and the ability of our independent manufacturers and other suppliers to follow responsible business practices; our ability to implement our growth strategy; the concentration of our business in a single, discretionary product category, namely footwear, apparel and accessories; our ability to continue to innovate and meet consumer expectations; changes in consumer tastes and preferences including in products and sustainability, and our ability to connect with our consumer base; our ability to open new stores at locations that will attract customers to our premium products; our ability to compete and conduct our business in the future; health epidemics, pandemics and similar outbreaks; general economic, political, demographic and business conditions worldwide, including geopolitical uncertainty and instability, such as the on-going Russia-Ukraine or Israel-Hamas conflicts and on-going shipping disruptions in the Red Sea and surrounding waterways; the success of operating initiatives, including advertising and promotional efforts and new product and concept development by us and our competitors; our ability to successfully develop, implement, and scale our LightSpray\u2122 technology and products developed using this technology; our ability to strengthen and grow our DTC channel; our ability to address climate related risks; our ability to execute and manage our sustainability strategy and achieve our sustainability-related goals and targets, including sustainable product offerings and investor and customer scrutiny; our third-party suppliers, manufacturers and other partners, including their financial stability and our ability to find suitable partners to implement our growth strategy; supply chain disruptions, inflation and increased costs in supplies, goods and transportation, customs and duty expenses, and foreign exchange rates; the availability of qualified personnel and the ability to retain such personnel, including our Executive Officers; our ability to accurately forecast demand for our products and manage product manufacturing decisions; our ability to distribute products through our wholesale channel; changes in commodity, material, labor, distribution and other operating costs; our international operations; our ability to protect our intellectual property and defend against allegations of violations of third-party intellectual property by us; cybersecurity incidents and other disruptions to our information technology (&#8220;IT&#8221;) systems; increased hacking activity against the critical infrastructure of any nation or organization that retaliates against Russia for its invasion of Ukraine; our reliance on complex IT systems; our ability to adopt and monitor generative artificial intelligence (&#8220;AI&#8221;) technologies in our operations; changes and contemplation of changes to trade policies, tariffs and import\/export regulations in the United States and other jurisdictions; financial accounting and tax matters; our ability to maintain effective internal control over financial reporting; the potential impact of, and our compliance with, new and existing laws and regulations; other factors that may affect our financial condition, liquidity and results of operations; and other risks and uncertainties set out in filings made from time to time with the SEC and available at <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.sec.gov&amp;esheet=54587470&amp;newsitemid=20260811551884&amp;lan=en-US&amp;anchor=www.sec.gov&amp;index=3&amp;md5=e2461789dcafe93fe8da7fd76affcdd2\">www.sec.gov<\/a>, including, without limitation, our most recent reports on Form 20-F and Form 6-K. You are urged to consider these factors carefully in evaluating the forward-looking statements contained herein and are cautioned not to place undue reliance on such forward-looking statements, which are qualified in their entirety by these cautionary statements.<\/p>\n<p>\nForward-looking statements speak only as of the date they are made, and we do not undertake any obligation to update them in light of new information or future developments or to release publicly any revisions to these statements in order to reflect later events or circumstances or to reflect the occurrence of unanticipated events.<\/p>\n<p>\nSource: On<br \/>\n<br \/>Category: Earnings<\/p>\n<p><b>Consolidated Financial Information<\/b><\/p>\n<p><b><i>Unaudited interim condensed consolidated statements of income \/ (loss)<\/i><\/b><\/p>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl bwwidth100\">\n<tr>\n<td class=\"bwvertalignb bwwidth48 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td colspan=\"3\" class=\"bwvertalignb bwsinglebottom bwpadl1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>Three-month period ended June 30,<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td colspan=\"3\" class=\"bwvertalignb bwsinglebottom bwpadl1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>Six-month period ended June 30,<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth48 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n(CHF in millions)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>2026<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>2025<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>2026<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>2025<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwwidth48 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth12 bwrowaltcolor1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth12 bwrowaltcolor1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth48 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwwidth12 bwrowaltcolor1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwwidth12 bwrowaltcolor1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth48 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nNet sales<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth12 bwrowaltcolor1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n850.3<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n749.2<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth12 bwrowaltcolor1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n1,682.2<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadr0 bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n1,475.8<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth48 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nCost of sales<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth12 bwrowaltcolor1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(294.6)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(288.4)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth12 bwrowaltcolor1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(592.2)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(579.7)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth48 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Gross profit<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth12 bwrowaltcolor1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>555.7<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>460.8<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth12 bwrowaltcolor1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>1,090.0<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>896.1<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth48 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nSelling, general and administrative expenses<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth12 bwrowaltcolor1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(436.3)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(368.0)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth12 bwrowaltcolor1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(853.2)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(726.3)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth48 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Operating result<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth12 bwrowaltcolor1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>119.4<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>92.8<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth12 bwrowaltcolor1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>236.9<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>169.8<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth48 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nFinancial income<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth12 bwrowaltcolor1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n11.3<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n7.5<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth12 bwrowaltcolor1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n18.3<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n14.8<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth48 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nFinancial expenses<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth12 bwrowaltcolor1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(8.3)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(7.7)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth12 bwrowaltcolor1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(16.3)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(13.6)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth48 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nForeign exchange gain \/ (loss)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth12 bwrowaltcolor1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n3.3<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(139.9)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth12 bwrowaltcolor1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n2.9<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(154.4)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth48 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Income \/ (loss) before taxes<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth12 bwrowaltcolor1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>125.7<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>(47.3)<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth12 bwrowaltcolor1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>241.8<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>16.6<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth48 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nIncome tax benefit \/ (expense)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth12 bwrowaltcolor1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(20.7)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n6.4<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth12 bwrowaltcolor1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(33.5)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(0.8)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth48 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Net income \/ (loss)<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth12 bwrowaltcolor1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>105.0<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>(40.9)<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth12 bwrowaltcolor1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>208.3<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>15.8<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth48 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Earnings per share<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwwidth12 bwrowaltcolor1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwwidth12 bwrowaltcolor1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth48 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nBasic EPS Class A (CHF)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth12 bwrowaltcolor1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n0.31<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(0.12)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth12 bwrowaltcolor1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n0.63<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n0.05<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth48 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nBasic EPS Class B (CHF)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth12 bwrowaltcolor1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n0.03<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(0.01)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth12 bwrowaltcolor1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n0.06<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u2014<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth48 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwwidth12 bwrowaltcolor1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwwidth12 bwrowaltcolor1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth48 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nDiluted EPS Class A (CHF)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth12 bwrowaltcolor1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n0.31<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(0.12)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth12 bwrowaltcolor1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n0.62<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n0.05<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth48 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nDiluted EPS Class B (CHF)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth12 bwrowaltcolor1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n0.03<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(0.01)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth12 bwrowaltcolor1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n0.06<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u2014<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<p><b><i>Unaudited interim condensed consolidated balance sheets<\/i><\/b><\/p>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl bwwidth100\">\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth60 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>(CHF in millions)<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwwidth19 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>6\/30\/2026<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwwidth19 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>12\/31\/2025<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwwidth60 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth19 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth19 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth60 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwwidth19 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwwidth19 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth60 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nCash and cash equivalents<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth19 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n1,205.6<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth19 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n1,019.9<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth60 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nTrade receivables<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth19 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n374.0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth19 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n305.4<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth60 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nInventories<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth19 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n472.9<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth19 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n419.8<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth60 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nOther current financial assets<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth19 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n78.1<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth19 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n59.2<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwwidth60 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nOther current operating assets<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadr0 bwwidth19 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n162.4<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadr0 bwwidth19 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n158.2<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth60 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwwidth19 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwwidth19 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth60 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Current assets<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth19 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>2,293.0<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth19 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>1,962.4<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwwidth60 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth19 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth19 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth60 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nProperty, plant and equipment<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth19 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n175.5<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth19 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n148.8<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth60 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nRight-of-use assets<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth19 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n530.7<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth19 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n494.1<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth60 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nIntangible assets<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth19 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n55.8<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth19 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n54.2<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwwidth60 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nDeferred tax assets<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadr0 bwwidth19 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n187.8<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadr0 bwwidth19 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n175.9<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth60 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwwidth19 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwwidth19 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwwidth60 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Non-current assets<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadr0 bwwidth19 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>949.9<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadr0 bwwidth19 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>873.0<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth60 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwwidth19 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwwidth19 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth60 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Assets<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth19 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>3,242.9<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth19 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>2,835.4<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwwidth60 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth19 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth19 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth60 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nTrade payables<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth19 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n211.0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth19 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n154.8<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth60 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nCurrent lease liabilities<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth19 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n87.9<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth19 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n81.2<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth60 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nOther current financial liabilities<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth19 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n46.3<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth19 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n56.7<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth60 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nOther current operating liabilities<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth19 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n371.3<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth19 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n355.4<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth60 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nCurrent provisions<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth19 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n12.0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth19 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n13.0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwwidth60 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nIncome tax liabilities<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadr0 bwwidth19 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n81.4<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadr0 bwwidth19 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n63.2<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth60 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwwidth19 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwwidth19 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth60 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Current liabilities<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth19 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>810.0<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth19 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>724.4<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwwidth60 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth19 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth19 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth60 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nEmployee benefit obligations<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth19 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n8.1<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth19 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n5.5<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth60 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nNon-current provisions<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth19 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n27.6<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth19 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n20.7<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth60 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nNon-current lease liabilities<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth19 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n474.6<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth19 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n440.3<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth60 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nOther non-current financial liabilities<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth19 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n5.6<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth19 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n2.8<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwwidth60 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nDeferred tax liabilities<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadr0 bwwidth19 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n5.5<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadr0 bwwidth19 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n9.3<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth60 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwwidth19 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwwidth19 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth60 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Non-current liabilities<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth19 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>521.5<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth19 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>478.6<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwwidth60 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth19 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth19 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth60 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nShare capital<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth19 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n34.1<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth19 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n34.1<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth60 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nTreasury shares<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth19 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(26.4)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth19 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(26.7)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth60 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nCapital reserves<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth19 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n1,324.7<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth19 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n1,289.0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth60 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nOther reserves<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth19 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(12.0)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth19 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(46.6)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwwidth60 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nRetained earnings<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadr0 bwwidth19 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n590.9<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadr0 bwwidth19 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n382.6<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth60 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwwidth19 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwwidth19 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwwidth60 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Equity<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadr0 bwwidth19 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>1,911.4<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadr0 bwwidth19 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>1,632.4<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth60 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwwidth19 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwwidth19 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth60 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Equity and liabilities<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth19 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>3,242.9<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth19 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>2,835.4<\/b><\/p>\n<\/td>\n<\/tr>\n<\/table>\n<p><b><i>Unaudited interim condensed consolidated statements of cash flows<\/i><\/b><\/p>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl bwwidth100\">\n<tr>\n<td class=\"bwvertalignb bwpadl0 bwwidth60\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td colspan=\"3\" class=\"bwvertalignb bwpadl0\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>Six-month period ended June 30,<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth60\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n(CHF in millions)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth19\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>2026<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth19\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>2025<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0 bwwidth60\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth19 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth19\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth60\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth19 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth19\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth60\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Net income<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth19 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>208.3<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth19\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>15.8<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth60\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nAdjustments for:<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth19 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth19\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth60 bwpadl3\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nShare-based compensation<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth19 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n30.9<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth19\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n25.2<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth60 bwpadl3\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nEmployee benefit expenses<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth19 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n2.0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth19\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n1.8<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth60 bwpadl3\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nDepreciation and amortization<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth19 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n72.1<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth19\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n60.7<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth60 bwpadl3\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nLoss on disposal of assets<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth19 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n0.1<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth19\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n0.2<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth60 bwpadl3\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nInterest income and expenses<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth19 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(4.8)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth19\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(4.6)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth60 bwpadl3\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nNet exchange differences<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth19 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(6.8)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth19\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n159.2<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth60 bwpadl3\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nIncome taxes<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth19 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n33.5<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth19\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n0.8<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth60\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nChange in working capital<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth19 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(49.5)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth19\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(144.1)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth60 bwpadl3\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nTrade receivables<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth19 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(61.3)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth19\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(122.7)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth60 bwpadl3\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nInventories<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth19 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(37.4)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth19\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(17.8)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth60 bwpadl3\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nTrade payables<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth19 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n49.2<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth19\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(3.5)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth60\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nChange in other current assets \/ liabilities<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth19 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(9.7)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth19\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n10.6<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth60\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nChange in provisions<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth19 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n1.8<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth19\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(4.6)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth60\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nInterest received<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth19 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n17.3<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth19\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n14.5<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth60\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nIncome taxes paid<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth19 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(40.1)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth19\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(46.5)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0 bwwidth60\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Cash inflow from operating activities<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth19 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>255.0<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth19\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>89.1<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth60\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth19 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth19\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth60\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nPurchase of property, plant and equipment<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth19 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(41.9)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth19\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(27.3)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth60\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nProceeds from disposal of tangible assets<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth19 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u2014<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth19\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n0.1<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth60\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nPurchase of intangible assets<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth19 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(5.3)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth19\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(2.2)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0 bwwidth60\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Cash (outflow) from investing activities<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth19 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>(47.2)<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth19\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>(29.4)<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth60\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth19 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth19\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth60\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nPayments of lease liabilities<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth19 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(35.8)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth19\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(34.7)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth60\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nProceeds on sale of treasury shares related to share-based compensation<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth19 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n5.0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth19\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n7.7<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth60\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nInterest paid<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth19 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(12.5)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth19\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(9.9)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0 bwwidth60\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Cash (outflow) from financing activities<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth19 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>(43.3)<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth19\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>(37.0)<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth60\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth19 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth19\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth60\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Change in net cash and cash equivalents<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth19 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>164.6<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth19\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>22.6<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth60\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nNet cash and cash equivalents at January 1<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth19 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n1,019.9<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth19\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n924.3<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth60\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nNet impact of foreign exchange rate differences<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth19 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n21.1<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth19\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(100.3)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth60\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nNet cash and cash equivalents at June 30<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth19 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n1,205.6<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth19\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n846.6<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<p><b>Reconciliation of Non-IFRS measures<\/b><\/p>\n<p><b><i>Adjusted EBITDA and Adjusted EBITDA Margin<\/i><\/b><\/p>\n<p>\nThe table below reconciles net income to adjusted EBITDA for the periods presented. Adjusted EBITDA margin is equal to adjusted EBITDA for the period presented as a percentage of net sales for the same period.<\/p>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl bwwidth100\">\n<tr>\n<td class=\"bwvertalignb bwwidth34 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td colspan=\"5\" class=\"bwvertalignt bwsinglebottom bwpadl1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>Three-month period ended June 30,<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td colspan=\"5\" class=\"bwvertalignt bwsinglebottom bwpadl1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>Six-month period ended June 30,<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth34 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n(CHF in millions)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwpadb3 bwwidth10 bwpadl1 bwvertalignt\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>2026<\/b><\/p>\n<\/td>\n<td class=\"bwwidth1 bwpadl1 bwvertalignt\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwpadb3 bwwidth10 bwpadl1 bwvertalignt\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>2025<\/b><\/p>\n<\/td>\n<td class=\"bwwidth1 bwpadl1 bwvertalignt\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwsinglebottom bwwidth10 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>% Change<\/b><\/p>\n<\/td>\n<td class=\"bwwidth1 bwpadl1 bwvertalignt\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwpadb3 bwwidth10 bwpadl1 bwvertalignt\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>2026<\/b><\/p>\n<\/td>\n<td class=\"bwwidth1 bwpadl1 bwvertalignt\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwpadb3 bwwidth10 bwpadl1 bwvertalignt\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>2025<\/b><\/p>\n<\/td>\n<td class=\"bwwidth1 bwpadl1 bwvertalignt\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwsinglebottom bwwidth10 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>% Change<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwwidth34 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth10 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth10 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth10 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth10 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth10 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth10 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth34 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwwidth10 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwwidth10 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwwidth10 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwwidth10 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwwidth10 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwwidth10 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwwidth34 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Net income \/ (loss)<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth10 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>105.0<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth10 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>(40.9)<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth10 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>356.5 %<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth10 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>208.3<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth10 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>15.8<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth10 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>1221.5 %<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwwidth34 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><i>Exclude the impact of:<\/i><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwwidth10 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwwidth10 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwwidth10 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwwidth10 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwwidth10 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwwidth10 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwwidth34 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nIncome taxes<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth10 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n20.7<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth10 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(6.4)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth10 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n423.5 %<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth10 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n33.5<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth10 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n0.8<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth10 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n3878.7 %<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwwidth34 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nFinancial income<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth10 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(11.3)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth10 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(7.5)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth10 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n50.7 %<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth10 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(18.3)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth10 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(14.8)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth10 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n23.6 %<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwwidth34 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nFinancial expenses<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth10 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n8.3<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth10 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n7.7<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth10 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n7.8 %<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth10 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n16.3<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth10 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n13.6<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth10 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n19.9 %<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwwidth34 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nForeign exchange result <sup>(1)<\/sup><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth10 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(3.3)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth10 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n139.9<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth10 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(102.4) %<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth10 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(2.9)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth10 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n154.4<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth10 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(101.9) %<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwwidth34 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nDepreciation and amortization<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth10 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n36.5<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth10 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n32.4<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth10 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n12.6 %<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth10 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n71.9<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth10 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n60.7<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth10 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n18.4 %<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwwidth34 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nShare-based compensation <sup>(2)<\/sup><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth10 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n12.2<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth10 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n10.9<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth10 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n11.3 %<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth10 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n33.5<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth10 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n25.5<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth10 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n31.2 %<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwwidth34 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Adjusted EBITDA<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth10 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>168.1<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth10 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>136.1<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth10 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>23.5 %<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth10 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>342.3<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth10 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>256.1<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth10 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>33.7 %<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwwidth34 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nAdjusted EBITDA Margin<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth10 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n19.8 %<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth10 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n18.2 %<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwsinglebottom bwwidth10 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth10 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n20.3 %<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth10 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n17.4 %<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwsinglebottom bwwidth10 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<p><sup>(1) <\/sup>Represents the foreign exchange gain \/ (loss) line item within the consolidated statements of income.<\/p>\n<p><sup>(2) <\/sup>Management excludes share-based compensation expenses as these are non-cash and we do not consider these expenses reflective of our ongoing operations and performance.<\/p>\n<p><b>Adjusted Net Income, Adjusted Basic EPS and Adjusted Diluted EPS<\/b><\/p>\n<p>\nWe use adjusted net income, adjusted basic EPS and adjusted diluted EPS as measures of operating performance in conjunction with related IFRS measures.<\/p>\n<p>\nFor the purpose of operational performance measurement, we calculate adjusted net income, adjusted basic EPS and adjusted diluted EPS in a manner that fully excludes the impact of any costs related to share-based compensation and includes the tax effect on the tax-deductible portion of the non-IFRS adjustments, which we believe increases comparability of the metric from period to period, and makes it useful for management, our audit committee and investors to assess our financial performance over time.<\/p>\n<p>\nAdjusted basic EPS is calculated by dividing adjusted net income by the weighted average number of ordinary shares outstanding during the period. Adjusted diluted EPS is calculated by dividing adjusted net income by the weighted average number of ordinary shares outstanding during the period on a fully diluted basis.<\/p>\n<p>\nThe table below provides a reconciliation between net income and adjusted net income, adjusted basic EPS and adjusted diluted EPS for the periods presented:<\/p>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl bwwidth100\">\n<tr>\n<td class=\"bwvertalignb bwwidth48 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td colspan=\"7\" class=\"bwvertalignt bwsinglebottom bwpadl1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>Three-month period ended June 30,<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth48 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n(CHF in millions, except per share data)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwpadb3 bwwidth12 bwpadl1 bwvertalignt\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>2026<\/b><\/p>\n<\/td>\n<td class=\"bwwidth1 bwpadl1 bwvertalignt\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwpadb3 bwwidth12 bwpadl1 bwvertalignt\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>2026<\/b><\/p>\n<\/td>\n<td class=\"bwwidth1 bwpadl1 bwvertalignt\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwpadb3 bwwidth12 bwpadl1 bwvertalignt\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>2025<\/b><\/p>\n<\/td>\n<td class=\"bwwidth1 bwpadl1 bwvertalignt\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwpadb3 bwwidth12 bwpadl1 bwvertalignt\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>2025<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwwidth48 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwsinglebottom bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>Class A<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwsinglebottom bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>Class B<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwsinglebottom bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>Class A<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwsinglebottom bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>Class B<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwwidth48 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth12 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth12 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth48 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwwidth12 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwwidth12 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwwidth48 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Net income \/ (loss)<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>94.5<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>10.5<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>(36.7)<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>(4.2)<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwwidth48 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><i>Exclude the impact of:<\/i><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwwidth12 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwwidth12 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwwidth48 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nShare-based compensation<sup>(1)<\/sup><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n10.9<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n1.2<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n9.8<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n1.1<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwwidth48 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nTax effect of adjustments<sup>(2)<\/sup><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n0.4<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u2014<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n0.3<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u2014<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwwidth48 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Adjusted net income \/ (loss)<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>105.8<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>11.8<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>(26.6)<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>(3.1)<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth48 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwwidth12 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwwidth12 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwwidth48 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Weighted number of outstanding shares<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>300,422,597<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>335,348,823<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>295,531,210<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>341,044,191<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwwidth48 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nWeighted number of shares with dilutive effects<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n1,677,255<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n2,493,692<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n3,300,452<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n12,293,550<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwwidth48 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Weighted number of outstanding shares (diluted and undiluted)<sup>(3)<\/sup><\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>302,099,852<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>337,842,515<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>298,831,662<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>353,337,741<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth48 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwwidth12 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwwidth12 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwwidth48 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Adjusted basic EPS (CHF)<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>0.35<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>0.04<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>(0.09)<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>(0.01)<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwwidth48 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Adjusted diluted EPS (CHF)<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>0.35<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>0.03<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>(0.09)<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>(0.01)<\/b><\/p>\n<\/td>\n<\/tr>\n<\/table>\n<p><sup>(1) <\/sup>Management excludes share-based compensation expenses as these are non-cash and we do not consider these expenses reflective of our ongoing operations and performance.<\/p>\n<p><sup>(2) <\/sup>The tax effect has been calculated by applying the local tax rate on the tax deductible portion of the respective adjustments.<\/p>\n<p><sup>(3) <\/sup>Weighted number of outstanding shares (diluted and undiluted) are presented herein in order to calculate Adjusted EPS as Adjusted net income for such periods.<\/p>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl bwwidth100\">\n<tr>\n<td class=\"bwvertalignb bwwidth48 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td colspan=\"7\" class=\"bwvertalignt bwsinglebottom bwpadl1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>Six-month period ended June 30,<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth48 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n(CHF in millions, except per share data)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwpadb3 bwwidth12 bwpadl1 bwvertalignt\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>2026<\/b><\/p>\n<\/td>\n<td class=\"bwwidth1 bwpadl1 bwvertalignt\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwpadb3 bwwidth12 bwpadl1 bwvertalignt\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>2026<\/b><\/p>\n<\/td>\n<td class=\"bwwidth1 bwpadl1 bwvertalignt\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwpadb3 bwwidth12 bwpadl1 bwvertalignt\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>2025<\/b><\/p>\n<\/td>\n<td class=\"bwwidth1 bwpadl1 bwvertalignt\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwpadb3 bwwidth12 bwpadl1 bwvertalignt\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>2025<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwwidth48 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwsinglebottom bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>Class A<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwsinglebottom bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>Class B<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwsinglebottom bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>Class A<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwsinglebottom bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>Class B<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwwidth48 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth12 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth12 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth48 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwwidth12 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwwidth12 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwwidth48 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Net income \/ (loss)<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>187.1<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>21.2<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>14.1<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>1.6<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwwidth48 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><i>Exclude the impact of:<\/i><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwwidth12 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwwidth12 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwwidth48 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nShare-based compensation<sup>(1)<\/sup><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n30.1<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n3.4<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n22.8<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n2.7<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwwidth48 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nTax effect of adjustments<sup>(2)<\/sup><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(0.6)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(0.1)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(0.4)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u2014<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwwidth48 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Adjusted net income \/ (loss)<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>216.6<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>24.5<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>36.6<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>4.3<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth48 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwwidth12 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwwidth12 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwwidth48 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Weighted number of outstanding shares<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>298,951,784<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>338,278,973<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>294,458,484<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>343,228,709<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwwidth48 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nWeighted number of shares with dilutive effects<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n2,596,588<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n3,726,415<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n4,005,446<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n12,885,677<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwwidth48 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Weighted number of outstanding shares (diluted and undiluted)<sup>(3)<\/sup><\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>301,548,372<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>342,005,388<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>298,463,930<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>356,114,386<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth48 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwwidth12 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwwidth12 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwwidth48 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Adjusted basic EPS (CHF)<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>0.72<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>0.07<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>0.12<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>0.01<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwwidth48 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Adjusted diluted EPS (CHF)<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>0.72<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>0.07<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>0.12<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>0.01<\/b><\/p>\n<\/td>\n<\/tr>\n<\/table>\n<p><sup>(1) <\/sup>Management excludes share-based compensation expenses as these are non-cash and we do not consider these expenses reflective of our ongoing operations and performance.<\/p>\n<p><sup>(2) <\/sup>The tax effect has been calculated by applying the local tax rate on the tax-deductible portion of the respective adjustments.<\/p>\n<p><sup>(3) <\/sup>Weighted numbers of outstanding shares (diluted and undiluted) are presented herein in order to calculate adjusted diluted EPS in relation to adjusted net income for such periods.<\/p>\n<p><b>Net Sales on a Constant Currency Basis<\/b><\/p>\n<p>\nNet sales on a constant currency basis is a non-IFRS measure which represents current period results that have been retranslated using exchange rates used in the prior year comparative period. We provide constant currency percent change in net sales in our results to enhance the visibility of the underlying growth rate of net sales, excluding the impact of foreign currency exchange rate fluctuations. Below, we show net sales split out by sales channel, geography, and product, and include the reported percent change and the constant currency percent change.<\/p>\n<p><i><span class=\"bwuline\">Net sales by sales channel<\/span><\/i><\/p>\n<p>\nThe following table presents net sales by sales channel:<\/p>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl bwwidth100\">\n<tr>\n<td class=\"bwvertalignb bwwidth48 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td colspan=\"7\" class=\"bwvertalignt bwsinglebottom bwpadl1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>Three-month period ended June 30,<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth48 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n(CHF in millions)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>2026<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>2025<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>% Change<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>Constant Currency % Change (1)<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwwidth48 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth12 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth48 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwwidth12 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwsinglebottom bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwwidth48 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nWholesale<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n461.9<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n441.0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n4.8 %<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n12.7 %<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwwidth48 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nDirect-to-consumer<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n388.4<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n308.3<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n26.0 %<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n34.3 %<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwwidth48 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Net sales<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwpadr0 bwvertalignb bwwidth12 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>850.3<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwpadr0 bwvertalignb bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>749.2<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwpadr0 bwvertalignb bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>13.5 %<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwpadr0 bwvertalignb bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>21.6 %<\/b><\/p>\n<\/td>\n<\/tr>\n<\/table>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl bwwidth100\">\n<tr>\n<td class=\"bwvertalignb bwwidth48 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td colspan=\"7\" class=\"bwvertalignt bwsinglebottom bwpadl1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>Six-month period ended June 30,<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth48 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n(CHF in millions)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>2026<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>2025<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>% Change<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignt bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>Constant Currency % Change (1)<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwwidth48 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwwidth12 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth48 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwsinglebottom bwwidth12 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwsinglebottom bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwsinglebottom bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwsinglebottom bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwwidth48 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nWholesale<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n971.5<\/p>\n<\/td>\n<td class=\"bwvertalignt bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n890.6<\/p>\n<\/td>\n<td class=\"bwvertalignt bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n9.1 %<\/p>\n<\/td>\n<td class=\"bwvertalignt bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n19.0 %<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwwidth48 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nDirect-to-consumer<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n710.7<\/p>\n<\/td>\n<td class=\"bwvertalignt bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n585.2<\/p>\n<\/td>\n<td class=\"bwvertalignt bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n21.4 %<\/p>\n<\/td>\n<td class=\"bwvertalignt bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n31.6 %<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwwidth48 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Net sales<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwpadr0 bwvertalignb bwwidth12 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>1,682.2<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignt bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwpadr0 bwvertalignb bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>1,475.8<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignt bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwpadr0 bwvertalignb bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>14.0 %<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignt bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwpadr0 bwvertalignb bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>24.0 %<\/b><\/p>\n<\/td>\n<\/tr>\n<\/table>\n<p><i><span class=\"bwuline\">Net sales by geography<\/span><\/i><\/p>\n<p>\nThe following table presents net sales by geographic region (based on the location of the counterparty):<\/p>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl bwwidth100\">\n<tr>\n<td class=\"bwvertalignb bwwidth48 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td colspan=\"7\" class=\"bwvertalignt bwsinglebottom bwpadl1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>Three-month period ended June 30,<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth48 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n(CHF in millions)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>2026<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>2025<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>% Change<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>Constant Currency % Change (1)<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwwidth48 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwwidth12 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwwidth48 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwwidth12 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwwidth48 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nAmericas<\/p>\n<\/td>\n<td class=\"bwvertalignt bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n451.6<\/p>\n<\/td>\n<td class=\"bwvertalignt bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n432.3<\/p>\n<\/td>\n<td class=\"bwvertalignt bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n4.5 %<\/p>\n<\/td>\n<td class=\"bwvertalignt bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n13.0 %<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwwidth48 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nEurope, Middle East and Africa<\/p>\n<\/td>\n<td class=\"bwvertalignt bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n228.2<\/p>\n<\/td>\n<td class=\"bwvertalignt bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n197.8<\/p>\n<\/td>\n<td class=\"bwvertalignt bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n15.4 %<\/p>\n<\/td>\n<td class=\"bwvertalignt bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n20.5 %<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwwidth48 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nAsia-Pacific<\/p>\n<\/td>\n<td class=\"bwvertalignt bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n170.5<\/p>\n<\/td>\n<td class=\"bwvertalignt bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n119.2<\/p>\n<\/td>\n<td class=\"bwvertalignt bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n43.1 %<\/p>\n<\/td>\n<td class=\"bwvertalignt bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n54.7 %<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwwidth48 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Net Sales<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignt bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwpadr0 bwvertalignb bwwidth12 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>850.3<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignt bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwpadr0 bwvertalignb bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>749.2<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignt bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwpadr0 bwvertalignb bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>13.5 %<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignt bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwpadr0 bwvertalignb bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>21.6 %<\/b><\/p>\n<\/td>\n<\/tr>\n<\/table>\n<p>\n(1) The constant currency percent change represents changes to net sales on a constant currency basis, which is a non- IFRS financial measure. See section titled &#8220;Non-IFRS Measures&#8221; for a description of this measure. Reconciliation to the nearest IFRS measure is shown in table above.<\/p>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl bwwidth100\">\n<tr>\n<td class=\"bwvertalignb bwwidth48 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td colspan=\"7\" class=\"bwvertalignt bwsinglebottom bwpadl1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>Six-month period ended June 30,<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth48 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n(CHF in millions)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>2026<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>2025<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>% Change<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>Constant Currency % Change (1)<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwwidth48 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwwidth12 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwwidth48 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwwidth12 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwwidth48 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nAmericas<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n902.3<\/p>\n<\/td>\n<td class=\"bwvertalignt bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n869.7<\/p>\n<\/td>\n<td class=\"bwvertalignt bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n3.8 %<\/p>\n<\/td>\n<td class=\"bwvertalignt bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n15.0 %<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwwidth48 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nEurope, Middle East and Africa<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n435.4<\/p>\n<\/td>\n<td class=\"bwvertalignt bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n366.4<\/p>\n<\/td>\n<td class=\"bwvertalignt bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n18.8 %<\/p>\n<\/td>\n<td class=\"bwvertalignt bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n22.8 %<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwwidth48 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nAsia-Pacific<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n344.5<\/p>\n<\/td>\n<td class=\"bwvertalignt bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n239.7<\/p>\n<\/td>\n<td class=\"bwvertalignt bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n43.7 %<\/p>\n<\/td>\n<td class=\"bwvertalignt bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n58.1 %<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwwidth48 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Net Sales<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwpadr0 bwvertalignb bwwidth12 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>1,682.2<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignt bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwpadr0 bwvertalignb bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>1,475.8<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignt bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwpadr0 bwvertalignb bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>14.0 %<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignt bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwpadr0 bwvertalignb bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>24.0 %<\/b><\/p>\n<\/td>\n<\/tr>\n<\/table>\n<p><i><span class=\"bwuline\">Net sales by product<\/span><\/i><\/p>\n<p>\nThe following table presents net sales by product group:<\/p>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl bwwidth100\">\n<tr>\n<td class=\"bwvertalignb bwwidth48 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td colspan=\"7\" class=\"bwvertalignt bwsinglebottom bwpadl1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>Three-month period ended June 30,<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth48 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n(CHF in millions)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>2026<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>2025<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>% Change<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>Constant Currency % Change (1)<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwwidth48 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth12 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth48 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwwidth12 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwsinglebottom bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwwidth48 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nShoes<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n781.6<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n704.9<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n10.9 %<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n18.9 %<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwwidth48 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nApparel<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n54.2<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n36.7<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n47.7 %<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n56.2 %<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwwidth48 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nAccessories<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n14.5<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n7.7<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n88.3 %<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n102.2 %<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwwidth48 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Net Sales<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwpadr0 bwvertalignb bwwidth12 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>850.3<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwpadr0 bwvertalignb bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>749.2<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwpadr0 bwvertalignb bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>13.5 %<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwpadr0 bwvertalignb bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>21.6 %<\/b><\/p>\n<\/td>\n<\/tr>\n<\/table>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl bwwidth100\">\n<tr>\n<td class=\"bwvertalignb bwwidth48 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td colspan=\"7\" class=\"bwvertalignt bwsinglebottom bwpadl1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>Six-month period ended June 30,<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth48 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n(CHF in millions)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>2026<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>2025<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>% Change<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>Constant Currency % Change (1)<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwwidth48 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwwidth12 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth48 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwsinglebottom bwwidth12 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwsinglebottom bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwsinglebottom bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwsinglebottom bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwwidth48 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nShoes<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n1,545.3<\/p>\n<\/td>\n<td class=\"bwvertalignt bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n1,385.8<\/p>\n<\/td>\n<td class=\"bwvertalignt bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n11.5 %<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n21.4 %<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwwidth48 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nApparel<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n109.5<\/p>\n<\/td>\n<td class=\"bwvertalignt bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n74.8<\/p>\n<\/td>\n<td class=\"bwvertalignt bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n46.4 %<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n56.9 %<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwwidth48 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nAccessories<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n27.4<\/p>\n<\/td>\n<td class=\"bwvertalignt bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n15.2<\/p>\n<\/td>\n<td class=\"bwvertalignt bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n80.3 %<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n94.4 %<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwwidth48 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Net Sales<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwpadr0 bwvertalignb bwwidth12 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>1,682.2<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignt bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwpadr0 bwvertalignb bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>1,475.8<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignt bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwpadr0 bwvertalignb bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>14.0 %<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwpadr0 bwvertalignb bwwidth12 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>24.0 %<\/b><\/p>\n<\/td>\n<\/tr>\n<\/table>\n<p>\n(1) The constant currency percent change represents changes to net sales on a constant currency basis, which is a non- IFRS financial measure. See section titled &#8220;Non-IFRS Measures&#8221; for a description of this measure. Reconciliation to the nearest IFRS measure is shown in table above.<\/p>\n<p><b>Net Working Capital<\/b><\/p>\n<p>\nNet working capital is a financial measure that is not defined under IFRS. We use, and believe that certain investors and analysts use, this information to assess liquidity and management use of net working capital resources. We define net working capital as trade receivables, plus inventories, minus trade payables. This measure should not be considered in isolation or as a substitute for any standardized measure under IFRS.<\/p>\n<p>\nOther companies in our industry may calculate this measure differently than we do, limiting its usefulness as a comparative measure.<\/p>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl bwwidth100\">\n<tr>\n<td class=\"bwvertalignb bwwidth52 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwsinglebottom bwwidth15 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>As of June 30,<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwsinglebottom bwwidth15 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>As of December 31,<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwsinglebottom bwwidth15 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth52 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n(CHF in millions)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth15 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>2026<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth15 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>2025<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwwidth15 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>% Change<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwwidth52 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwwidth15 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwwidth15 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwwidth15 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth52 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwsinglebottom bwwidth15 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwsinglebottom bwwidth15 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwsinglebottom bwwidth15 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwwidth52 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nTrade receivables<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth15 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n374.0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth15 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n305.4<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth15 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n22.5 %<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwwidth52 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nInventories<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth15 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n472.9<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth15 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n419.8<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth15 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n12.7 %<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwwidth52 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nTrade payables<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth15 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(211.0)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth15 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(154.8)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth15 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n36.3 %<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwwidth52 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Net working capital<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth15 bwpadl1 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>635.9<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth15 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>570.3<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth15 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>11.5 %<\/b><\/p>\n<\/td>\n<\/tr>\n<\/table>\n<p>\n\u00a0<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20260811551884r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20260811551884\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20260811551884\/en\/<\/a><\/span><\/p>\n<p><b>For investor and media inquiries<\/b><\/p>\n<p><b>I<\/b><b>nvestor Contact:<br \/>\n<\/b><br \/>On Holding AG<br \/>\n<br \/>Liv Radlinger<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:investorrelations@on.com\">investorrelations@on.com<br \/>\n<\/a><br \/><i>or<br \/>\n<\/i><br \/>ICR, Inc.<br \/>\n<br \/>Brendon Frey<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:brendon.frey@icrinc.com\">brendon.frey@icrinc.com<\/a><\/p>\n<p><b>Media Contact:<br \/>\n<\/b><br \/>On Holding AG<br \/>\n<br \/>Adib Sisani<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:press@on.com\">press@on.com<\/a><\/p>\n<p><b>KEYWORDS:<\/b> Switzerland Europe<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Sports Outdoors Professional Services General Sports Specialty Fashion Textiles Retail Finance Footwear Manufacturing Running<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\">\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Logo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20260811551884\/en\/2873209\/3\/On-cloud-logo-white-background.svg_%281%29.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>On Reports Results for the Second Quarter and Six-Month Period Ended June 30, 2026 On delivers another quarter of premium growth, driven by the strength of its brand, disciplined execution and a deepening connection with consumers worldwide. Net sales increase by 13.5% year-over-year, or by 21.6% on a constant currency basis, to CHF 850.3 million. Growth is led by the extraordinary strength of On\u2019s Direct-to-Consumer (\u201cDTC\u201d) channel, which increases by 26.0%, or 34.3% on a constant currency basis, exceeding expectations in every single region. DTC reaches a new second-quarter high of 45.7% of net sales, while global brand awareness climbs to 30%, as a whole new generation of fans discovers On. On continues to successfully execute on its strategic priorities. &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/on-reports-results-for-the-second-quarter-and-six-month-period-ended-june-30-2026\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;On Reports Results for the Second Quarter and Six-Month Period Ended June 30, 2026&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-993213","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>On Reports Results for the Second Quarter and Six-Month Period Ended June 30, 2026 - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/on-reports-results-for-the-second-quarter-and-six-month-period-ended-june-30-2026\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"On Reports Results for the Second Quarter and Six-Month Period Ended June 30, 2026 - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"On Reports Results for the Second Quarter and Six-Month Period Ended June 30, 2026 On delivers another quarter of premium growth, driven by the strength of its brand, disciplined execution and a deepening connection with consumers worldwide. Net sales increase by 13.5% year-over-year, or by 21.6% on a constant currency basis, to CHF 850.3 million. Growth is led by the extraordinary strength of On\u2019s Direct-to-Consumer (\u201cDTC\u201d) channel, which increases by 26.0%, or 34.3% on a constant currency basis, exceeding expectations in every single region. DTC reaches a new second-quarter high of 45.7% of net sales, while global brand awareness climbs to 30%, as a whole new generation of fans discovers On. 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Net sales increase by 13.5% year-over-year, or by 21.6% on a constant currency basis, to CHF 850.3 million. Growth is led by the extraordinary strength of On\u2019s Direct-to-Consumer (\u201cDTC\u201d) channel, which increases by 26.0%, or 34.3% on a constant currency basis, exceeding expectations in every single region. DTC reaches a new second-quarter high of 45.7% of net sales, while global brand awareness climbs to 30%, as a whole new generation of fans discovers On. On continues to successfully execute on its strategic priorities. &hellip; Continue reading \"On Reports Results for the Second Quarter and Six-Month Period Ended June 30, 2026\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/on-reports-results-for-the-second-quarter-and-six-month-period-ended-june-30-2026\/","og_site_name":"Market Newsdesk","article_published_time":"2026-08-11T09:05:13+00:00","og_image":[{"url":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20260811551884r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"23 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/on-reports-results-for-the-second-quarter-and-six-month-period-ended-june-30-2026\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/on-reports-results-for-the-second-quarter-and-six-month-period-ended-june-30-2026\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"On Reports Results for the Second Quarter and Six-Month Period Ended June 30, 2026","datePublished":"2026-08-11T09:05:13+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/on-reports-results-for-the-second-quarter-and-six-month-period-ended-june-30-2026\/"},"wordCount":4634,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/on-reports-results-for-the-second-quarter-and-six-month-period-ended-june-30-2026\/#primaryimage"},"thumbnailUrl":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20260811551884r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/on-reports-results-for-the-second-quarter-and-six-month-period-ended-june-30-2026\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/on-reports-results-for-the-second-quarter-and-six-month-period-ended-june-30-2026\/","name":"On Reports Results for the Second Quarter and Six-Month Period Ended June 30, 2026 - 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