Swatch Group sees results plummet in 2024

Swatch Group reported sharply lower results for 2024. The prolonged slowdown of the watchmaking industry in China, the watchmaking group's largest market, and the strength of the Swiss franc continued to weigh on the Swiss company. Revenues fell by 14.6% to CHF6.7 billion, as organic growth slumped by 12.2%. Net profit plummeted to CHF219 million, more than three times less than the CHF890 million recorded a year earlier, the Group announced in a press release on Thursday. + Get the most important...