Swatch Group: Comments on the first half of the year and outlook for 2005 as a whole

• Marked rise in Group sales despite high basis for comparison with the previous and continued negative currency influences.
• Increase in operating result to CHF 299 million before and CHF 293 million (+9.3%) after extraordinary items respectively.
• Above-average increase to CHF 267 million (+21.4%) in Group net income, due to a strong financial result.
• Growth in sales of high-end watches significantly higher than the statistics published by the Fédération Horlogère.
• Sharp rise in sales in the watches, movements and components production segment.
• Slight decline in electronic systems, but clear indications of recovery in June.
• Positive outlook for the second half-year and 2005 as a whole.

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