Swatch speeds up your recovery. The Swiss watchmaking company has closed the first half of the current year with sales of 3,612 million Swiss francs (3,668.3 million euros), which has meant a year-on-year increase of 6.5% in its turnover. Compared to the same period in 2019, the company is still 12.9% below.
“Despite the good results obtained, we have registered losses of 400 million Swiss francs (406 million euros) due to the closure of warehouses and various establishments located in China, Hong Kong and Macau between April and May”, has explained the company in a statement. “The war in Ukraine has had an impact of less than 1% on the group’s turnover”added Swatch.
In the period, the company placed its net profit at 320 million Swiss francs (324 euros, 18.5% more than the profit registered in the first half of 2021. In the first six months of the year, Swatch’s net margin stood at 8.9%, 0.9 percentage points higher than the same period last year.
Swatch placed its net profit at 320 million francs, 18.5% more than in the same period of the previous year
The company recorded a double-digit increase in sales in all markets, including Europe, America and the Middle East. “Sales were driven, above all, by consumption in the Asian market, specifically in countries such as Japan, Taiwan, Singapore or Thailand,” Swatch said.
Looking ahead to the second half of the year, Swatch maintains that its double-digit growth forecasts continue to be “realistic”. The group’s sales growth will be driven, according to the company, by the launch of new products in brands of all its segments.
In its portfolio of brands, the company includes brands that range from the luxury segment such as Omega, Longines or Breguet, to commercial brands such as the homonymous Swatch or Flik Flak. “Growth prospects for all Swatch divisions are extremely positive,” says the company. Regionally, Swatch forecasts further sales growth in regions such as the Americas, Asia and Mainland China.
