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Press Release

Oettinger Davidoff reports another strong year for 2024

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annual media release 2024

Oettinger Davidoff marks 150 years with another strong performance

Publication Date: 19.06.2025

Press Release

• Total sales turnover for the year 2024 of CHF 541.7 million

• Stable performance in the own-brand business

• Largest growth contributor is the group's core brand Davidoff with stellar sales in its accessories business

• Double-digit percentage sales growth for the Zino brand

• Strengthening of leading position in the handmade premium cigar business

• Expansion of production site in the Dominican Republic and in Honduras

Basel, Switzerland, 19 June 2025: Oettinger Davidoff reports another strong year for 2024, achieving solid results despite global economic challenges and a volatile market environment. Following the record performances in 2023 and 2022, the family-owned company, which celebrates its 150-year jubilee in 2025, realized another strong result reaching a sales turnover of CHF 541.7 million representing a slight increase of 0.9% in real terms.

In the own brand business, the Zino brand delivered another extraordinary year (+28.1%). Davidoff remained stable with stellar performance in its accessories segment, which grew by 15% compared to the previous year. The successful financial year 2024 was driven in particular by the good results at Wolsdorff Tobacco (Germany) and the Asian duty-free business. In addition, the development of the third-party business continued to show steady momentum.

A modern curved building with large windows, showcasing office interiors, alongside a busy street in a cityscape.

An image showcasing Oettinger Davidoff's headquarters in Basel.

CEO Beat Hauenstein comments the financial results: "The year 2024 was another strong year in the 150-year history of our family-owned company. The solid 2024 results prove that our investments in our brands, retail and shopping experiences have paid off and that we are well set up 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."

Beat Hauenstein, CEO Oettinger Davidoff AG

Oettinger Davidoff Secures Future Through Strategic Production Adjustments and Capacity Expansion

With a total of 38.5 million cigars handcrafted in the Dominican Republic and Honduras in 2024, production remained strong. This represents a 21% decrease versus 2023, mainly due to the strategic preponement of the cigar production to anticipate the requirements imposed by the entry into force of Track & Trace in the European Union in May 2024. In a similarly strategic move, the company has prepared itself to meet the rising demand for its handmade premium cigars also in the future. Following the inauguration of a significant expansion of its manufacturing site in the Dominican Republic in February 2025, which allows to double the production capacity, Oettinger Davidoff has also begun extending its production site in Honduras.