Swiss premium appliance maker V-Zug has reported a steep decline in its 2024 financial results, reflecting a sluggish market and softer-than-expected project demand. 

The company’s operating profit (EBIT) fell to CHF 11.6 million, less than half of the previous year’s CHF 25.3 million. Net income dropped even more sharply, sliding to CHF 6.8 million, compared with CHF 21.4 million a year earlier.

According to V-Zug, the downturn stems from cautious consumer spending, limited market momentum, and high fixed operating costs that became increasingly difficult to absorb in a weaker sales environment.

Despite the challenging year, the manufacturer says it is focused on returning to profitable growth, with a series of strategic and operational adjustments already underway to strengthen performance and improve resilience.