Watchmaker Swatch's sales grew 4.7% at constant exchange rates in the second half of 2025, benefiting from a strong acceleration in the fourth quarter, the company said today.
The maker of brands such as Omega, Longines and Tissot, along with its plastic Swatch watches, said its overall sales fell to 6.28 billion Swiss francs ($8.17 billion) last year.
That slightly beat the 6.19 billion francs expected by analysts polled by LSEG.
The group said it had seen the positive momentum from the second half of 2025 continuing in January, adding that it expected demand for watches at all price points to grow substantially in 2026.
The Swiss watchmaker said that it had achieved an operating margin of 2.1% in 2025, substantially below the 3.4% expected by analysts.
It reported a "strongly negative" operating result in its production segment, after choosing to maintain production capacities and jobs in order to be able to respond to future demand.
