Swatch Group: Sales development in the second half 2002

Biel / Bienne (Switzerland), February 5, 2003 - Improved sales development in the second half 2002 as compared to first six months in spite of weaker currency ratios.

Group sales 2002: CHF 4,062 million after CHF 166 million currency exchange losses; CHF 4,228 million in local currency terms.

Unit sales of watches and watch movements sales +3.0%;.

Substantial market share gains in a difficult year

• 2002 sales for the entire Group expressed in local currency terms rose +2.6 % in the second half and +1.1 % for the year as a whole
• Growth of the watch division in local currency terms was +5.1% in the 2nd half of 2002 and +3.2% for the year as a whole
• Higher market shares were achieved in all watch segments
• Group sales in Swiss francs were lower by –1.9% in the second half and
–2.87% for the year as a whole
• Favorable impact of the improvement in sales in the second half 2002 on the expected operating and net result for the full year.

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Swatch Group: Sales development in the second half 2002