Dyson hit by 440m sales drop as Trump tariffs bite

"The US levies targeted imports from countries including Malaysia and the Philippines, where Dyson manufactures a significant proportion of its products. Tariffs initially reached as high as 24 per cent before being reduced, but still had a material impact on the company's ability to compete on price in one of its most important markets."

"Chief executive Hanno Kirner described the tariffs as 'particularly damaging', noting that they had disrupted sales momentum at a time when consumer sentiment was already fragile across major economies including the US, Germany and China."

"Despite the drop in sales, Dyson's profitability improved significantly. Operating profits rose from £520 million to £600 million, while earnings before interest, tax, depreciation and amortisation (EBITDA) increased from £940 million to £1.1 billion."

Dyson reported a £440 million decline in annual sales, with revenues falling from £6.57 billion to £6.13 billion in 2025. This marked the second consecutive year of sales decline after over two decades of growth. The downturn was attributed to weaker consumer confidence, currency fluctuations, and US tariffs on imports from Malaysia and the Philippines. Despite the sales drop, operating profits rose from £520 million to £600 million, driven by cost reductions and job cuts. The company invested £400 million in product development to maintain competitiveness.

Read at Business Matters