Driven by strong sales momentum across all its price segments, Swatch Group returned to sustained growth in the first half of 2026.
For the first half of 2026, Swatch Group reported revenue of 3.121 billion Swiss francs, compared with 3.059 billion a year earlier, representing an increase of 2% on a reported basis and 8.5% at constant exchange rates.
The acceleration in business was particularly evident in the second quarter, with sales rising by 9.4% at constant exchange rates, while May and June alone posted a 13.1% increase—a trend that continued into early July.
Profitability Still Under Pressure
Despite this strong recovery, profits remain limited, as operating income came in at 52 million Swiss francs, compared to 68 million a year earlier, causing the operating margin to decline from 2.2% to 1.7%.
Net income, meanwhile, came in at 16 million Swiss francs, virtually unchanged from the 17 million reported in the first half of 2025, while the net margin reached only 0.5%.
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