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Swatch Group: positive half-year report 2017

Swatch Group: positive half-year report 2017. The Swatch Group announced positive results for the first half of financial year 2017 with group net sales of CHF 3,759 million (+1.2%) at constant exchange rates or CHF 3,705 million (-0.3%) at current exchange rates. The outlook for the second half-year of 2017 is positive with many new product launches and growth of the own brands, not only in value but also in volumes.

The Swatch Group announced positive results for the first half of financial year 2017 with group net sales of CHF 3,759 million (+1.2%) at constant exchange rates or CHF 3,705 million (-0.3%) at current exchange rates.

Performance in Watches & Jewelry, especially in the upper segment, was very positive with sales growth of +2.9% at constant rates in the Watches & Jewelry segment (excluding Production).

Sales performance in local currency varied, depending on the region. Mainland China recorded significant growth. Sales in Hong Kong stabilized. Japan showed a mixed picture. Sales to local consumers were very positive, while sales to Chinese tourists decreased due to the negative currency situation. Positive sales also in the Middle East. In Europe, sales of the brands increased compared to the first half of the previous year, especially in Great Britain, Spain, Italy, and Switzerland. The North American markets showed growth in local currencies, especially in the Group’s own retail although with conversion of sales at the weak USD rate, no growth remains in CHF.

Wholesale has started to regain trust in many regions, thanks to the good consumer mood and the positive results achieved in the Group’s retail business.

Production, which is integrated into the Watches & Jewelry segment, recorded lower capacity utilization than in the prior-year comparative period. Particularly third-party brands are still insecure and delay orders. Conversely, Group brands increased orders compared to the previous year.

Operating margin in the Watches & Jewelry segment (excluding Production) increases by almost 25%, from 10.7% to 13.2%, despite negative currency impact. If you include Production, the segment achieves an operating margin of 11.8% (previous year: 11.2%).

Operating result increases by 5.1% to CHF 371 million, despite retention of production capacities for third parties and workforce. Operating margin grows from 9.5% in the previous year to 10.0%. Net income increases by 6.8% to CHF 281 million with a net margin of 7.6% (previous year: 7.1%).

The outlook for the second half-year of 2017 is positive with many new product launches and growth of the own brands, not only in value but also in volumes. swatchgroup.com

COMMENTS

Name

A. Lange & Sohne,145,Accutron,1,AkriviA,10,Alain Silberstein,4,alarm,18,Alpina,19,Andersen Geneve,2,Andersmann,2,Andreas Strehler,5,Angelus,6,annual calendar,43,Anonimo,15,Anthony de Haas,2,Antiquorum,4,Antoine Martin,2,Antoine Preziuso,1,Apple,2,Apple Watch,2,Aquadive,2,Aquastar,1,Armin Strom,80,Arnold and Son,27,Artime,1,Astarwatch,1,Atelier de Chronometrie,1,Ateliers deMonaco,2,Atmos,1,Auctions,94,Audemars Piguet,97,Autodromo,1,automaton,2,BA111OD,1,Ball Watch,1,Bamford,2,Baselword 2022,1,Baselworld,8,BaselWorld 2013,50,BaselWorld 2014,53,Baselworld 2015,69,Baselworld 2016,27,Baselworld 2017,64,Baselworld 2018,75,Baselworld 2019,41,Baselworld 2020,2,Baume,4,Baume & Mercier,18,Baume et Mercier,72,Beaubleu,1,Bell & Ross,41,Bernhard Lederer,4,Bernhard Zwinz,1,bespoke,1,Blancpain,99,blue dial,3,Bonhams,2,Bovet,14,Brands histories,1,Breguet,131,Breitling,74,Bremont,1,Bremont Watch Company,4,Breva,2,bronze,28,Bücherei,1,Bucherer,1,Bulgari,121,Bulova,2,Burberry,1,C3H5N3O9,1,carbon,4,carillon,4,Carl F. Bucherer,4,Carl Suchy,1,Carrera,20,Cartier,49,ceramic,22,Certina,13,Chanel,5,Chaumet,3,chiming hour,15,Chopard,42,Christiaan van der Klaauw,2,Christie's,9,Christophe Claret,5,Christopher Ward,15,chronograph,784,chronometer,41,Chronoswiss,6,Cimier,1,Citizen,4,co-axial,1,column-wheel,9,complete calendar,29,complications,91,concept watch,5,Concord,1,constant-force,39,Corum,18,Credor,2,CSEM,1,Cuervo y Sobrinos,1,Cyrus,36,Czapek,8,Dan Niederer,1,Davosa,1,Daytona,8,De Bethune,30,de Grisogono,3,dead seconds,21,Delma,2,detent escapement,4,DeWitt,9,digital display,1,dive watches,95,diving,8,diving watches,414,double regulator,3,Doxa,39,drei,1,dress watches,539,dual time,107,Ebel,2,Eberhard,35,Edouard Koehn,7,Edox,6,El Primero,42,Emile Chouriet,1,Emmanuel Bouchet,1,Emmanuel Breguet,1,enamel dial,14,enamelling,16,Equation of time,10,ETA,1,Eterna,18,exhibitions,1,F.P.Journe,40,Faberge,2,factory tours,3,Favre-Leuba,1,feature article,92,features,127,Felipe Pikullik,2,Ferdinand Berthoud,8,flyback,64,Fondation de la Haute Horlogerie,1,Formex,1,Fortis,9,Franc Vila Founder,1,Franck Muller,8,Frederic Jouvenot,1,Frederique Constant,21,Furlan Marri,1,FVF,1,Gallet,1,Garrick,1,Geneva Watchmaking Grand Prix,8,Georg Jensen,1,George Daniels,4,Gerald Charles,2,Gerald Genta,13,Girard-Perregaux,48,Glashuette,19,Glashuette Original,94,Glashütte,33,Glashütte Original,127,Glycine,4,GMT,139,GoS,1,GoS Watches,1,GPHG,21,GPHG 2020,3,GPHG 2021,3,GPHG 2022,3,GPHG 2023,3,GPHG 2024,1,GPHG2019,1,Graham,6,Grand Feu,7,Grand Prix d’Horlogerie de Geneve,16,Grand Seiko,36,Grande Complication,28,Grande Sonnerie,9,Greubel Forsey,40,greubelforsey,1,Grøne,1,Gronefeld,10,Grönefeld,8,Grossmann,3,guilloché,8,H. Moser and Cie,51,H20 Watch,1,Habring,10,Habring2,11,Hajime Asaoka,2,Hallmark of Geneva,2,Hamilton,38,hands-on,135,Hanhart,21,Harry Winston,11,Hautlence,6,Hermes,26,Heuer,2,high jewellery,2,high-frequency,5,Hublot,65,Hybris Artistica,1,Hydro Mechanical Horologists,7,HYT Watches,16,Icon,1,In pictures,18,independent watchmaker,39,industry news,243,interview,9,Interviews,9,IWC,175,Jacques Bianchi,1,Jaeger-LeCoultre,130,Jaquet Droz,58,Jean-Francois Mojon,1,Jean-Marc Pontroué,1,JeanRichard,3,jumping hours,38,Junghans,12,Kaj Korpela,1,Kari Voutilainen,11,Kazuo Maeda,1,Kenissi,1,Kollokium,1,Korpela,1,Krayon,4,Kudoke,6,Kurono,2,L.Leroy,1,L'Epee 1839,2,Labails,1,Ladies watches,196,Lang & Heyne,4,Lang 1943,1,Lange,54,large date,3,Laurent Ferrier,25,Laureus,2,Le Garde Temps,1,Lederer Watches,4,Leica,3,Lemania,1,Leroy,4,Linde Werdelin,2,Longines,103,Louis Erard,34,Louis Moinet,8,Louis Vuitton,2,luxury steel watch,30,LVMH,10,LVMH 2020,6,M.A.D.Edition,5,M.A.D.Editions,5,Maîtres du Temps,1,Manufacture Contemporaine du Temps,3,Manufacture Royale,3,Marc Lang,1,marine chronometer,2,Marqueterie,1,Maurice de Mauriac,2,Maurice Lacroix,27,MB&F,72,MCT,1,MeisterSinger,99,meteorite,3,metiers d'art,3,Mickey Mouse,2,Mido,67,military watches,14,Minerva,4,Ming,2,Minute Repeater,62,monopusher chronograph,5,Montblanc,58,moon phases,133,Moritz Grossmann,31,Moser,46,Muhle,6,Mühle-Glashütte,5,mystery watches,4,Nautilus,14,New Britain Corp,1,new watches,3843,Nivada,3,Nomos,81,Norqain,32,Ochs und Junior,6,Officine Panerai,108,Omega,202,Only Watch,15,Only Watch 2015,4,Only Watch 2017,2,Only Watch 2019,3,Only Watch 2021,4,Only Watch 2023,10,Oris,44,paillonne,1,Panerai,111,Parmigiani,17,Parmigiani Fleurier,36,Pascal Coyon,1,Patek,62,Patek Philippe,139,Pedrozo & Piriz,1,perpetual calendar,154,Perrelet,12,Petermann Bedat,3,Phenomen,1,Philippe Dufour,1,Phillips,10,Piaget,41,Pierre DeRoche,2,pilot,1,pilot watch,115,Pininfarina,1,Pisa,17,Pisa 1940,5,Pisa Circle,13,Pita,1,planetarium,3,platinum,8,pocket watch,3,pocket watches,2,Poehlmann-Bresan,2,Poincon de Geneve,2,Porsche Design,17,Pre-SIHH 2016: Cartier - Clé de Cartier Automatic Skeleton,1,pulsometer,5,Purnell,1,quartz,11,Rado,20,Ralf Tech,3,Ralph Lauren,2,rattrapante,26,Raul Pages,2,Raymond Weil,5,rectangular watches,16,reddot award,1,regatta,3,regulator,30,remontoire,5,Remy Cools,1,Renaud Tixier,1,Reservoir,2,resonance,22,Ressence,13,retrograde,10,Revelation,1,Reverso,27,review,137,RGM,1,RGM Watch Co.,1,Richard Mille,118,Richemont,4,Richmond,1,Roger Dubuis,12,Roger Smith,1,Roger W. Smith,1,Rolex,72,Romain Gauthier,13,Romain Jerome,1,Royal Oak,40,Rudis Sylva,1,sapphire,4,Schwarz Etienne,1,Seamaster,10,Seiko,41,SevenFriday,26,SIHH,3,SIHH 2012,4,SIHH 2013,25,SIHH 2014,36,SIHH 2015,43,SIHH 2016,44,SIHH 2017,41,SIHH 2018,43,SIHH 2019,53,Simon Brette,2,Singer,7,Singer Reimagined,11,single hand,33,single-hand watches,40,Sinn,16,skeleton,36,smartwatch,9,solar energy,1,Sotheby's,8,Speake Marin,6,Speake-Marin,6,Speedmaster,38,split seconds,27,sport,1,sport watches,997,sportwatches,1,Spring Drive,3,square watches,4,squelette,61,steampunk,1,Steinhart,1,Strehler,1,striking time,16,SuisseMecanica,1,sunrise,2,sunset,2,Swatch,9,Swatch Group,24,Sylvain Pinaud,2,table clocks,4,Tag Heuer,185,tantalum,1,technical insight,3,terra Cielo Mare,1,Theo Auffret,1,tides,1,Tiffany,17,Tissot,10,titanium,12,top news,455,Torsti Laine,1,tourbillon,386,Trilobe,4,Tudor,40,Tulloch,1,Tutima,3,ultra thin,36,Ulysse Nardin,40,Unimatic,1,Union Glashutte,15,Universal Genève,1,Urban Jurgensen,29,Urwerk,22,Vacheron Constantin,83,Van Cleef & Arpels,7,Vauchier Fleurier,1,Vianney Halter,5,video,1,vintage watches,3,Vulcain,11,wandering hours,1,watches,1,Watches & Wonders,42,Watches & Wonders 2020,19,Watches & Wonders 2021,28,Watches & Wonders 2022,35,Watches & Wonders 2023,38,Watches & Wonders 2024,47,Watches & Wonders 2025,2,Watches&Wonders,10,WatchesandWonders2022,35,WatchesandWonders2023,39,WatchesandWonders2024,48,WatchesandWonders2025,2,Wilhelm Schmid,1,Winnerl,1,worldtime,60,YEMA,5,Zannetti,1,Zeitwerk,2,Zeitwinkel,1,Zenith,114,Zodiac,9,
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Time and Watches | The watch blog: Swatch Group: positive half-year report 2017
Swatch Group: positive half-year report 2017
Swatch Group: positive half-year report 2017. The Swatch Group announced positive results for the first half of financial year 2017 with group net sales of CHF 3,759 million (+1.2%) at constant exchange rates or CHF 3,705 million (-0.3%) at current exchange rates. The outlook for the second half-year of 2017 is positive with many new product launches and growth of the own brands, not only in value but also in volumes.
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