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Swatch Group: Half-Year Report 2015

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The Swatch Group has published the half-year report for financial year 2015 and, despite the concerns for the overvaluation of the Swiss Franc currency, the net sales of the Watches and Jewelry segment grew by 3.6% to CHF 4,248 million at constant exchange rates or 2.2% to CHF 4,192 million at current rates. Calculated in Euros, the Group grew by 18.7%.

The result is remarkably good especially if compared with the declining export of wrist watches of the Swiss Watch Industry of –1.1% at the end of May.

The operating margin or the Group reached 18.2% while the operating profit was 8.3% (CHF 761 million). Swiss franc shock and negative interest rates resulted in a lower net income of CHF 548 million, 19.4% below the first half of 2014.

The Swatch brand mechanical watches, particularly the Swatch Sistem51, made a significant contribution to the sales results. The strong demand for the Tissot T-Touch Expert Solar resulted in supply bottlenecks for the brand, something which required adjustments in production to shorten waiting times in the second half of the year.

In the first half of 2015 over 400 new jobs were created, of which 100 in Switzerland. As a result, the number of employees increased to over 36,000 at the end of June 2015.

The outlook for the second half of the year is positive and the Group management expects a strong second half 2015, especially considering the introduction of the Omega Master Co-Axial with METAS certification, the Swatch Touch Zero One and the Swatch NFC (Near Field Communication) as a contact-free means of payment.

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