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Switzerland
Swatch Group: CHF 3.12 billion in H1 2026 despite currency headwinds
Herz — Switzerland Desk · · 30s summary · 2 min read
The essentials
Swatch Group, the Biel-based watchmaker, reported CHF 3.12 billion in revenue for the first half of 2026, according to Le Temps. Growth reached 8.5% at constant exchange rates, but was limited to 2% in nominal terms due to a negative currency effect of approximately CHF 200 million. The group claims to have captured significant market share while Swiss watch exports declined 0.7% over the period, according to the Federation of the Swiss Watch Industry (FHS), the sector's umbrella organization. Swatch Group is targeting a recovery in profitability in the second half of 2026.
- CHF 3.12 billion revenue in H1 2026: +8.5% at constant exchange rates
- Negative currency effect of approximately CHF 200 million, nominal growth reduced to +2%
- Swiss watch exports declined 0.7% in the first six months of 2026
- Swatch Group claims significant market share gains
- Profitability under pressure, recovery targeted for H2 2026
What we know
Swatch Group, the Biel-based watchmaker led by Nick Hayek, reported revenue of CHF 3.12 billion for the first half of 2026, according to Le Temps. Growth reached 8.5% at constant exchange rates.
Currency effects reduced the result by approximately CHF 200 million. In nominal terms, the increase was limited to 2%.
At constant exchange rates8.5
In nominal terms2
CHF 3.12 billion
H1 2026 revenue
≈ −CHF 200 million
Currency effect impact in H1 2026
−0.7%
Swiss watch exports decline in H1 2026
Claimed market share gains
Swatch Group claims to have achieved significant market share gains during the half-year. The group attributes these results to its brand portfolio, the launch of new products, and the expansion of its store network.
significant market share gains
— Swatch Group, H1 2026 communications
The watchmaking sector under pressure
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