- Group net sales of CHF 4 078 million, -3.7% at constant exchange rates compared to a very strong previous year, and -4.4% at current rates.
- Operating result of CHF 547 million, -13.0% to the previous year. Operating margin amounted to 13.4% versus 14.7% in the previous year.
- Net income of CHF 415 million, -11.3% to the previous year, with a net margin of 10.2%, com-pared to 11.0% in the previous year.
- Further growth in the major markets of Mainland China, Japan and the USA, in all price seg-ments.
- Uncompromising action against grey market dealers, especially in Europe, the Middle East, Eastern Europe and South America, at the expense of a short-term negative impact on sales in the first half year in the triple-digit millions. In the long term, this will lead to positive effects, especially in the major markets.
- Strong organic sales growth in the Group’s own retail.
- Marked increase in e-commerce, especially in the middle and basic segment.
- Positive overall annual growth for the Group expected.
Outlook second half-year 2019
The Swatch Group anticipates strong growth in the second half of 2019, on the one hand, due to continuing solid demand in the most important markets, and on the other hand, due to the fact that the second half of 2018 was characterized by a poor fourth quarter.
The launch of numerous innovative new products by the brands in all price segments will further stimulate sales. The successfully implemented e-commerce, especially in the middle and basic segment, will generate dynamic growth in the second half of the year.
The Group expects positive sales growth for the entire year in comparison to the previous year.
Biel / Bienne (Switzerland), March 19, 2020 – The 2019 Annual Report of The Swatch Group Ltd is now available. Download here: Swatch Group – Annual Report 2019 In order to reduce the number of hard printed copies of our annual report, thereby contributing to preserving the environment, we encourage you to download the PDF version of the Swatch Group…
Group net sales of CHF 8 243 million, -1.8% in comparison to the previous year at constant ex-change rates, or -2.7% at current rates. Operating result of CHF 1 023 million, -11.4% to the previous year. Operating margin amounted to 12.4% versus 13.6% in the previous year. Net income of CHF 748 million, -13.7% to the previous year, with a net margin of 9.…
Biel/Bienne (Switzerland), December 18, 2019 - The Competition Commission (COMCO) wants to prohibit Swatch Group or its subsidiary ETA from supplying mechanical movements to third parties in 2020. COMCO has always obligated ETA to supply its customers with movements and now it intends to prohibit it from doing so for the whole of 2020. The provisional…