Biel, April 8, 2026 – The CMSA Group reports positive results for the 2025 fiscal year, which were strongly influenced by higher precious metal prices and the resulting book value gains. In a challenging geopolitical environment and without the positive impact of the precious metals result, sales and earnings declined.
As part of its effort to strengthen financial governance, CMSA has decided to adopt Swiss GAAP FER as its accounting framework. This recognized Swiss standard aims to improve the transparency, comparability and reliability of financial reporting, thereby providing partners with a clear and consistent basis for assessing the Group’s performance and financial position.
In 2025, the continued downturn in the watch industry had a negative impact on the CMSA Group. This is evident in the decline of the Luxury Division. In contrast, the Medtech and Industry Divisions recorded growth and a recovery, respectively, thereby contributing to overall profitability.
Net sales increased by +3.2%, primarily due to higher precious metal prices, while revenue excluding precious metals declined by -15.2%. Reported EBITDA reached mCHF 51.6 and was strongly influenced by precious metal valuation effects, while operating EBITDA declined slightly and fell short of expectations. The organizational structure was adapted to the changed situation, though this impact will only become apparent in the following year. Additionally, CMSA closed its two subsidiaries in France and Spain to focus more on its core competencies. The debt-to-equity ratio (28%) improved significantly, and the equity increased to mCHF 237.0, demonstrating stability.
In this environment, the Group remains confident about its prospects for 2026 despite continued limited visibility. The diversification of its activities and its more agile structure strengthen its resilience to economic and geopolitical uncertainties, while initial positive signs are emerging. Supported by the stability of the Medtech Division and the momentum of the semiconductor market in the Industry Division, the Group expects slight revenue growth and is simultaneously continuing its efforts to secure liquidity, increase efficiency, and make strategic investments to sustainably strengthen its core competencies, corporate culture, and vision, and to continue its transformation.
Share
