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Swatch Group: Key Figures for Financial Year 2015

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The Swatch Group has published the key figures for financial year 2015 with net sales of Swiss Francs 8,451 million for the Group, 0.9% lower than the previous year at constant exchange rates and 3.0% lower than the previous year at current exchange rates. Calculated in euros, the Group grew 10.3%.

The operating profit was Swiss Francs 1,451 million, equivalent to an operating margin of 17.2%. Mainly due to additional currency shifts also in the second half of the year, operating margin was about 17% lower in comparison to the previous year.

Net income was Swiss Francs 1,119 million, 21.0% below the previous year, due to the strong negative impact of foreign exchange losses and the negative development of interest rates.

The outlook for 2016 is positive. The Group Management expects, despite the ongoing challenging environment in various regions, a sustainable development in sales in local currency in 2016, based on worldwide ongoing very good consumption demand for Swiss watches.

The number of patent applications increased again in the year under review, not only in the area of electronic smart and mobile device products, but also primarily for watches and watch movements. Not only new products, but also all current brand models which benefit from ongoing demand, will contribute to a good year in 2016.

In particular, the new METAS certified antimagnetic Omega Co-Axial Globemaster collection, as well as various Swatch watches such as the Swatch Bellamy, launched in China, with its contactless payment function, are expected to generate positive sales in China and other regions.

January 2016 confirms that particularly in mainland China, watch consumption rose strongly compared to the previous year, reason why, the Swatch Group expects growth of well over 5% in 2016 in local currency.

Despite the bad currency situation, Swatch Group continues its long-term strategy of increasing prices only very defensively to insure volume growth.

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