There is positive news at the Crystal Group Swarovski with head office in the Tyrolean Wattens: sales in the financial year 2024 increased from 1.8 to 1.9 billion euros compared to the previous year. The management was especially satisfied with the development in Austria and America. The year 2025 is probably still a challenge.
For Swarovski -CEO, Alexis Nasard showed “strong and constant results” last year. Compared to 2023, a “like-for-like growth of eight percent in a constant currency was generated in a difficult trade environment”. It was also satisfied with the profit made before interest, taxes and depreciation (EBITDA), which increased by 14 percent.
The EBIT core was “completely positive for the first time in five years. This key figure excludes activities of the owner of the owner, which are not related to the Crystal Business.
Growth in all regions
However, the growth of nine percent was registered in the jewelry area. From a geographical point of view, the “Like-for-like turnover” was the most increased in Europe in Europe by eleven percent, followed by America by ten percent and Asia by three percent “despite the cooling in China”. Last year it was said that Chinese consumers had a “confidence crisis”.
The stores were also positively balanced with an increase in profitability by seven percent. In particular, the turnover of “Swarovski created diamonds” – ie laboratory breeding diamonds – was satisfied. The turnover of the still fairly new product “more than doubled compared to the previous year”.
“Discipline” required for 2025
Before 2025-the 130th birthday Nasard, “discipline” prescribed: “In 2025, instability in our business area will remain likely.” It is important to “continue to concentrate on the disciplined implementation of our strategy, with a persistent focus on excellent creativity, strategic investments and financial discipline”.
In the previous year, various initiatives, such as the opening of a new flagship store in Piazza del Duomo in Milan, contracted to “strengthen the attractiveness and luxurious character of the brand” and “rejuvenate the target group”.
Turbulence in recent years
Swarovski had confronted with strong turbulence in recent years. This influenced both group management and the economic situation, not least because of the Corona crisis. Large redundancies were done at the head office in Wattens, and 2900 people still work there and was recently said.
More than 18,000 employees worldwide
According to his own statements, Swarovski currently has around 18,600 people in more than 140 countries worldwide, and a good 2300 stores are operated. Swarovski Crystal Business forms the Swarovski group together with the sister companies Swarovski optik (optical devices) and Tyrolite (grinding agent).
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
