Not all images were able to load for printing. Please close the print window and try again. Swatch Group Revenues Down In 2025
Sharp improvement in the second half of the year
It’s the time of year when businesses announce their financial performance. Following Richemont and LVMH, Swatch Group has just released its 2025 results. In a challenging environment for the watch industry, the sales of Swatch Group – the Swiss powerhouse and owner of Omega, Longines, and Tissot – were CHF 6,280 million, down 1.3% at constant exchange rates and 5.9% at current rates. Importantly, the Group reports a sharp turnaround for the second half of the year with sales growth of 4.7% at constant exchange rates and a strong acceleration in the fourth quarter with sales up 7.2%.
Swatch group reports that the activity was still affected by the performance of China, Hong-Kong and Macau, but a strong performance for the Americas (despite the Tariff changes) and double-digit growth for the Middle East and India. As mentioned before, the activity improved sharply in the second half of the year and in the fourth quarter. At constant exchange rates, excluding China, Hong Kong SAR, and Macau SAR, sales were up 10.4% in the last quarter. China achieved growth in local currency in the last quarter of 2025, compared to the same period of the previous year.
Operating profit came in at CHF 135 million, compared with CHF 304 million in 2024, mainly reflecting difficulties in production activities. The Group reduced its inventory by 4.5%, while purchases from third-party suppliers declined amid the sluggish conditions in the watch industry. Given the sharp improvement in Swatch Group’s activity in the second half of the year—including in China—the Group is optimistic about sales and profit growth in 2026.
For reference, Swiss watch exports were down 1.7% to CHF 25.5 billion in 2025.
For more details, please visit SwatchGroup.com.
