- 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.
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
The Ordinary General Meeting of Shareholders will be held in accordance with Article 12 ff of the Articles of Association and Article 27 of the Ordinance 3 on Measures to Combat the Coronavirus (COVID-19) on Tuesday May 24, 2022 at 10:00 a.m., in Biel/Bienne, Switzerland. In accordance with Article 27 of the Ordinance 3 on Measures to Combat the…
After 55 years of loyal service to Swatch Group, Mr. Mougahed Darwish has decided to take a well-deserved retirement. The member of the Swiss Academy of Engineering Sciences and doctor in physics from the Federal Institute of Technology in Lausanne (EPFL) will step down from the Executive Management Board on April 1, 2022. Swatch Group thanks him…
Biel (Switzerland), March 17, 2022 – The 2021 Annual Report of The Swatch Group Ltd is now available on our website. Download here: Swatch Group 2021 Annual Report Concurrently, Swatch Group is also publishing its 2021 Sustainability Report, for the first time according to GRI standards. Download here: Swatch Group 2021 Sustainability Report