Credit risk |
12 Months Ended |
|---|---|
Dec. 31, 2025 | |
| Disclosure of Financial Risk Management [Abstract] | |
| Credit risk | 5.3 Credit risk Credit risk is the possibility of a loss resulting from a counterparty’s failure to meet its contractual obligation. On is exposed to credit risks from its operating activities and from certain financing activities. A potential concentration in credit risk mainly arises from trade receivables and other financial assets, such as credit cards and deposits. The maximum exposure is limited to the respective carrying amounts. The Company's credit risk is primarily driven by individual customer characteristics. At December 31, 2025, two customers individually represented more than 10% of the trade receivables balance. We have subsequently collected the majority of these outstanding amounts. New customers are assessed for creditworthiness before standard payment and delivery terms and conditions are offered, and individual tolerance limits are established. Creditworthiness as well as customers receivable limits are monitored on an ongoing basis. Customers that fail to meet On’s minimum creditworthiness may, in general, order only on a prepayment basis. Further, in 2025, the Company implemented credit insurance for certain wholesale customer balances to reduce potential loss exposure. Core banking relationships are maintained with investment grade rated financial institutions.
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