Watches of Switzerland Group (WOSG) Q4 2025 TU earnings summary

Financial performance and trading update

• Group revenue reached £1,652 million for FY25, up 8% in constant currency and 7% reported, meeting market expectations.

• US revenue grew 16% in constant currency, with H2 FY25 up 19%; UK & Europe revenue increased 2%.

• H2 FY25 saw improved momentum, with group revenue up 12% versus 4% in H1; demand for key luxury brands continues to outstrip supply.

• Adjusted EBIT for the year is expected to align with market expectations.

• Pre-owned businesses and Roberto Coin Inc. performed strongly, contributing to overall growth.

Strategic and operational highlights

• Opened flagship Rolex boutique on Old Bond Street, London, trading ahead of expectations.

• Completed several key Rolex projects in the US, including new agencies and boutique conversions.

• Expanded and relocated showrooms in both the UK and US, including Patek Philippe and Audemars Piguet projects.

• Integration of Hodinkee and Roberto Coin Inc. progressing well, with incremental growth plans underway.

• Positive consumer response to new product lines introduced after Watches and Wonders in Geneva.

Outlook and future initiatives

• Confident in the luxury watch category's fundamentals and business model, despite macroeconomic uncertainties and potential US tariff changes.

• Strong pipeline for FY26 includes new and refurbished showrooms in the UK and US, and an upgraded US ecommerce platform.

• Roberto Coin Inc. to benefit from a major marketing campaign, new mono-brand boutiques, and ecommerce upgrades.

• Group operates 208 showrooms, including 94 mono-brand boutiques, and maintains a leading presence at Heathrow Airport.

• FY25 results announcement scheduled for 3 July 2025.