Following the slump in profits in the first half of the year, Swiss household appliance manufacturer V-Zug is resorting to more stringent cost-cutting measures. + Get the most important news from Switzerland in your inbox The Group expects sales and profits to plummet in 2025 Net sales for the current financial year are expected to be in the mid single-digit percentage range below the previous year's figure, V-Zug announced. Last year, the company increased its turnover to CHF591.7 million. With a decline of 4 to 6%, V-Zug would therefore achieve sales of CHF556 to CHF568 million in 2025. "The main reason for this is the declining market trend in Switzerland and in the international markets," wrote the manufacturer of dishwashers and washing machines, for example. In some cases, orders were cancelled at short notice and unexpectedly. Cancelled China project In China, a major real estate project for which the orders were already on the books was simply cancelled, a company ...
