• Net sales of CHF 7 313 million, +30.7% to the previous year at current exchange rates, or +29.6% at constant rates.
• Operating profit of CHF 1 021 million (previous year: CHF 52 million).
  Operating margin of 14.0% (previous year: 0.9%).
• Watches & Jewelry segment (excluding Production) with a strong operating margin of 17.7%for the entire year and 18.4% in the second half.
• Net income of CHF 774 million compared with net loss of CHF -53 million in the previous year. Net margin of 10.6%.
• Strong operating cash flow of CHF 1 298 million (previous year: CHF 819 million).
  Free cash flow¹⁾  of CHF 1 033 million (previous year: CHF 675 million).
• High net liquidity²⁾ of CHF 2 558 million (previous year: CHF 1 700 million).
• At its next meeting, the Board of Directors will decide on the dividend proposal to the Annual General Meeting.
• For 2022, the Group anticipates double-digit sales growth in local currencies.

Outlook 2022

Group Management anticipates double-digit sales growth in local currencies in 2022. This will be ensured by numerous, and in some cases, spectacular new products from the brands in all segments. Omega, as timekeeper for the Olympic Winter Games in Beijing, will be present worldwide in the media in February, and in September, Tissot, as timekeeper for the Asian Games in Hangzhou, will be visible far beyond the Chinese market. 

At the end of 2021, order books in the Electronic Systems segment were twice as high as at the end of 2019, which will lead to sales growth in the current year. 

1) Cash flow from operating activities minus cash flow from investing activities (without financial assets and securities) 
2) Cash and cash equivalents as well as financial assets, securities and derivative financial instruments minus current financial debts and derivative financial liabilities