Migros set the course for the future in 2025
and Ursula Nold, Chairwoman FMC
In 2025, the Migros Group strengthened its core business of supermarkets and made significant progress with its strategic realignment. The strategic business units Non-Food Retail, Health and Financial Services also continued their strong performance.
Interview with Ursula Nold
on the 2025 financial year
Identifying opportunities, capitalising on them and constantly reinventing itself – this visionary spirit has made Migros what it is today and formed the basis of its success over the decades. The 100-year anniversary in 2025 was the perfect opportunity to remember the founding spirit, celebrate our achievements and set the course for the future.
A 100-year anniversary also brings a responsibility to ensure that the company’s success story continues. The Migros Group looks back on a year of strategic realignment.
Focus on four strategic business units
With the sale of the Mibelle Group, the Hotelplan Group, Micasa, SportX and OBI, the portfolio adjustment was successfully completed after just 18 months. The aim was to consistently focus on four strategic business units: Food Retail, Non-Food Retail, Health and Financial Services. This enables Migros to systematically leverage its strengths and offer its customers genuine added value across all areas of life.
In 2025, Migros generated Group sales of CHF 31.9 billion (–1.9 %). The decline was due to the loss of revenue contributions from the companies that were sold. The revenues of the remaining companies are key to the Migros Group’s operating performance. Excluding the companies sold, the Group generated sales of CHF 29.4 billion (+1.1 %) on a currency-adjusted basis.
The transformation is a necessary response to developments in an increasingly competitive market. Migros has been losing market share in its core business of supermarkets for years. The pressure to act is correspondingly high.
Interview with Mario Irminger
Start of the expansion and modernisation of the branch network
Following the launch of Migros Supermarket Ltd in the previous year, a further package of measures was introduced in 2025 to drive forward the core business again. First, the green light was given for the expansion and modernisation of the Migros branch network – CHF 2 billion will be invested by 2030 in order to renovate 350 existing branches and open 140 new ones. This will bring Migros even closer to the people. Second, the Migros Group relieved the burden on its customers with permanent price reductions amounting to CHF 500 million per year, after already achieving around half of this annual figure in 2025.
As expected, these measures had a negative impact on sales. Overall, Food Retail still posted a strong operating result of CHF 24.3 billion.
Unique ecosystem
Migros is more than a supermarket. Together with the other strategic business units Non-Food, Health and Financial Services, it has created an ecosystem that no other company in Switzerland is able to offer. Non-Food Retail recorded strong sales growth (+13.6 %) in 2025, driven by the success of Digitec Galaxus.
Sales from health services provided with the Medbase Group also increased again (+5.6 %). Both strategic business units increased their contribution to the overall result. Financial Services also posted a solid result, but it remained slightly below the previous year’s level, due mainly to the challenging interest rate environment.
Non-Food Retail recorded strong sales growth in 2025, driven by the success of Digitec Galaxus.
One-off effects from the sale of companies and the strategic realignment had a positive impact on the result, which came in at CHF 1’212 million before interest and taxes. Overall, the Migros Group generated a profit of CHF 1’133 million.
Financially, Migros is on very solid ground. With an equity ratio of 80.6 % in the Retail and Industry sector, it has the necessary strength to continue to invest sustainably in the future. The company disposals and efficiency measures have also freed up additional financial resources.
A Switzerland providing high quality of life for everyone
Migros continues to be the largest private employer in Switzerland. Together with its employees from all divisions, the Migros Group celebrated its 100th anniversary on a grand scale and successfully drove forward its transformation. A big thank you to everyone involved!
As a committed employer, Migros assumes significant responsibility – towards its employees and the population as a whole. Migros contributed CHF 138 million to society in 2025. Migros Culture Percentage donated CHF 121.7 million to projects in the areas of culture, society, education, leisure and the economy. In addition, CHF 15.3 million was invested in the Migros Pioneer Fund and CHF 1 million in the Migros Aid Fund.
A total of CHF 138 million was invested in social commitment in the reporting year.
“A Switzerland providing high quality of life for everyone” – this is the guiding principle of the new vision adopted by the Migros Group in November 2025. The vision marks the beginning of the next 100 years and is based on three pillars: top performance in every business area, social commitment, and giving back part of its success to the Migros Community. Even in times of change, Migros stays true to its heritage. By pooling our strengths and focusing on shared goals, we are creating the basis for another 100 years of success.
Ursula Nold
Chairwoman of the
FMC Board of Directors
Mario Irminger
Chief Executive Officer
FMC