Group gross sales of CHF 5 421 million, on comparable basis (excluding 2008 divestments of Sokymat and Michel) –6.3% at constant exchange rates and –8.1% in total lower than in the record year 2008.
Watch segment sales with a decrease at constant rates of –5.5% largely outperform Swiss Watch Federation export sales (–22.3% in 2009), gaining market shares for the Group in practically all price segments and markets.
Operating profit reaches CHF 903 million or 17.6% on net sales (versus 21.2% in 2008), with a very strong performance in the second half-year (EBIT margin of over 20%) despite currency losses of CHF 105 million versus 2008.
Net income amounts to CHF 763 million, –8.9% less than in 2008, with 14.8% of net sales exactly the same as in the previous year.
Substantial equity of CHF 6 billion or 77.6% of total balance sheet (versus 75.3% in the prior year).
Dividend 2009 proposed: CHF 0.80 per registered share and CHF 4.00 per bearer share.
At the Annual General Meeting, the Board of Directors will propose reelection of its current members and in addition the election of Jean-Pierre Roth and Georges Nicolas Hayek as new Board members.
A good start so far in 2010, January sales representing the second-best month of January in the history of the Group, with an excellent outlook for the Group for the rest of this year.