Oettinger Davidoff AG has reported its financial earnings for 2024. Its sales revenue for 2024 was CHF 541.7 million (USD 662.42 million). The company reports that this represents a 0.9% increase from the previous year.
In a press release, CEO Beat Hauenstein commented: “The year 2024 was another strong year in the 150-year history of our family-owned company. The solid 2024 results demonstrate that our investments in our brands, retail, and shopping experiences have paid off, and we are well-positioned to successfully continue writing the next chapter of our longstanding history. Our journey has been driven by a clear vision, bold decisions, while demonstrating resilience, pioneering spirit, and leadership in innovation. As we celebrate our 150-year jubilee, we remain committed to our values – passion, innovation and integrity – and to delivering excellence in all we do. I would like to express my heartfelt thanks to our employees, business partners, customers and aficionados around the globe for their trust and loyalty and for being part of our story.”
The Zino brand reported the most significant growth, 28.1% over the previous period. Oettinger Davidoff also reported “stable” performance, with its accessories business growing 15% from the prior year. In addition, Oettinger Davidoff attributed the good results to the fringe Wolsdorff Tobacco (Germany) and its Asian duty-free business.
Oettinger Davidoff also reported that it produced 38.5 million dollars cigars from its Dominican Republic and Honduras production facilities. This was a 21% decrease from 2023. The company attributed this to the requirements set by the implementation of Track & Trace in the European Union. These took effect in May 2024.
The company is still in progress to meet anticipated future demand. It recently opened its expanded facilities at TABADOM in the Dominican Republic. It is also expanding its production facilities in Honduras.
