Swatch Group releases half-yearly report

Swatch Group, which is active in the design, manufacture and sale of finished watches, jewellery, watch movements and components in the international markets, has announced a record half-year of sales

Swatch Group supplies nearly all components required by its 18 watch brands, with Group companies supplying movements and components to third-party watchmakers in Switzerland and around the world. The group released its half-yearly report for 2018, which is summarised below.

• Record half-year sales in the Group’s history.
• Group net sales increased by 14.7 per cent to CHF 4,266 million at current exchange rates, respectively by 12.6 per cent at constant rates.
• Operating result increased 69.5 per cent to CHF 629 million. Operating margin improved from 10.0 per cent in the previous year to 14.7 per cent.
• Net income increased by 66.5 per cent to CHF 468 million, with a net margin of 11.0 per cent, compared to the previous year with 7.6 per cent.
• Growth in all regions, led by Asia and America.
• Massive gains in market share in all price segments and regions.
• Strong product demand by its own brands has already created bottlenecks in certain production areas.
• The second half of 2018 promises further growth.