Half-year report 2008
Biel / Bienne (Switzerland), August 15, 2008 – Swatch Group, half-year report 2008.
Swatch Group – Further expansion of market share in all watch segments and regions.
- Strong sales growth of +17.7% at constant exchange rates (+11% at current 30 June 2008 exchange rates) in the Watches and Jewelry segment despite ongoing capacity bottlenecks and unfavorable exchange rates
- Sales growth of +13.8% at constant exchange rates for the entire Group (+8.5% at current 30 June 2008 exchange rates)
- 16% increase in operating profit to CHF 593 million and to an operating margin of 21% (first half-year 2007: 19.6%), despite negative currency effects and sharp rise in the price of raw materials and precious metals
- Slight decline of 9.1% in consolidated net income to CHF 418 million (prior year: CHF 460 million) as a result of unrealized temporary value adjustments on portfolios and foreign investments due to exceptionally weak stock markets and exchange rates at the end of June 2008. Return on sales of 14.8%
Details – see attached press release.
Back to the List