Operating profit for the group decreased by more than half, but the second half of the year looks promising.
The Swatch Group, which includes watch brands such as Omega, Breguet, Longines, and Tissot, has published its financial report for 2025. According to the latest data, sales for the Swiss giant amounted to CHF 6.28 billion. This is 1.3% less at constant exchange rates and 5.9% less at current exchange rates compared to 2024.
However, the group reports a sharp improvement in performance in the second half of the year: sales growth reached 4.7% at constant exchange rates, and in the fourth quarter, it recorded a +7.2% increase.
Looking at individual regions, in South and North America (despite increased customs duties), the group's performance was strong, and double-digit growth was noted in India and the Middle East. China, Hong Kong, and Macau remain problematic regions for the Swatch Group. Excluding these areas, the group's sales in the last quarter grew by 10.4% at constant exchange rates. China showed sales growth in local currency in the last quarter.
Operating profit was CHF 135 million, compared to CHF 304 million the previous year. Amidst not very active demand, the group's inventories decreased by 4.5%, and purchases from third-party suppliers were reduced. In conclusion, the report notes: “Given the sharp improvement in activity in the second half of the year, the group's management is optimistic about sales and profit results for 2026.”