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Swatch Group: half-year report 2019

With its 18 brands, a workforce of approximately 36,800 persons at the end of June. and close to 150 production facilities in Switzerland, the Swatch Group is the giant of the watchmaking world, a fully verticalized company, from production to distribution, that is present in all market segments. The Group just announced the key figures of the first six months of 2019.

With its 18 brands, a workforce of approximately 36,800 persons at the end of June, and close to 150 production facilities in Switzerland, the Swatch Group is a giant of the watchmaking world, a fully verticalized company, from production to distribution, that is present in all market segments.

The Group just announced the key figures of the first six months of 2019.

Net sales decreased by 3.7% to CHF 4,078 million at current exchange rates (-4.4% at constant rates). The operating result decreased by -13.0% to CHF 547 million compared to the previous year. Operating margin was 13.4% (previous year: 14.7%). Net income totaled CHF 415 million (-11.3% compared to the previous year) or 10.2% of net sales (previous year: 11.0%).

After the slowdown in the fourth quarter of 2018, sales in the first half of 2019 achieved very good levels, despite negative currency effects of CHF 29 million. In Mainland China, Japan and the USA, growth was very positive in all price segments. Sales in Hong Kong, an important sales market with attractive margins, suffered from political turbulence. This resulted in a double-digit decline in sales.

Sales in the Group’s own retail and e-commerce keeps recording positive growth.

In this first half of 2019, actions were taken against grey market dealers, especially in Europe, the Middle East, Eastern Europe and South America, even though this resulted in a short-term negative impact on sales in the triple-digit millions. The Swatch Group believes that, in the long term, this will lead to positive effects in the major markets.

Inventories increased slightly from the beginning of the year by 2.6% to approximately CHF 7.1 billion. The increase occurred in finished products and can be attributed to suspension of deliveries to grey market dealers.

The Swatch Group anticipates strong growth in the second half of 2019 due to continuing solid demand in the most important markets. The Group expects positive sales growth for the entire year in comparison to the previous year. swatchgroup.com



COMMENTS

Name

A. Lange & Sohne,145,Accutron,1,AkriviA,11,Alain Silberstein,4,alarm,18,Alpina,19,Andersen Geneve,2,Andersmann,2,Andreas Strehler,5,Angelus,6,annual calendar,44,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,82,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,19,Baume et Mercier,72,Beaubleu,1,Bell & Ross,41,Berneron,1,Bernhard Lederer,5,Bernhard Zwinz,1,bespoke,1,Blancpain,100,blue dial,3,Bonhams,2,Bovet,14,Brands histories,1,Breguet,132,Breitling,74,Bremont,1,Bremont Watch Company,4,Breva,2,bronze,28,Bücherei,1,Bucherer,1,Bulgari,122,Bulova,2,Burberry,1,C3H5N3O9,1,carbon,4,carillon,4,Carl F. Bucherer,4,Carl Suchy,1,Carrera,20,Cartier,49,ceramic,24,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,790,chronometer,42,Chronoswiss,6,Cimier,1,Citizen,6,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,37,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,99,diving,8,diving watches,418,double regulator,3,Doxa,40,drei,1,dress watches,542,dual time,108,Ebel,2,Eberhard,35,Edouard Koehn,8,Edox,6,El Primero,43,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,93,features,128,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,22,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,96,Glashütte,33,Glashütte Original,129,Glycine,4,GMT,142,GoS,1,GoS Watches,1,GPHG,23,GPHG 2020,3,GPHG 2021,3,GPHG 2022,3,GPHG 2023,3,GPHG 2024,3,GPHG2019,1,Graham,6,Grand Feu,7,Grand Prix d’Horlogerie de Geneve,17,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,136,Hanhart,22,Harry Winston,11,Hautlence,6,Hermes,26,Heuer,2,high jewellery,2,high-frequency,5,Hublot,66,Hybris Artistica,1,Hydro Mechanical Horologists,7,HYT Watches,16,Icon,1,In pictures,18,independent watchmaker,39,industry news,245,interview,9,Interviews,9,IWC,176,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,198,Lang & Heyne,4,Lang 1943,1,Lange,54,large date,3,Laurent Ferrier,26,Laureus,2,Le Garde Temps,1,Lederer Watches,5,Leica,3,Lemania,1,Leroy,4,Linde Werdelin,2,Longines,104,Louis Erard,35,Louis Moinet,8,Louis Vuitton,3,luxury steel watch,31,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,28,MB&F,73,MCT,1,MeisterSinger,99,meteorite,3,metiers d'art,3,Mickey Mouse,2,Mido,69,military watches,14,Minerva,4,Ming,2,Minute Repeater,62,monopusher chronograph,5,Montblanc,58,moon phases,135,Moritz Grossmann,31,Moser,46,Muhle,6,Mühle-Glashütte,5,mystery watches,4,Nautilus,14,New Britain Corp,1,new watches,3870,Nivada,3,Nomos,82,Norqain,32,Ochs und Junior,6,Officine Panerai,109,Omega,204,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,112,Parmigiani,17,Parmigiani Fleurier,36,Pascal Coyon,1,Patek,62,Patek Philippe,139,Pedrozo & Piriz,1,perpetual calendar,155,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,4,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,31,remontoire,5,Remy Cools,1,Renaud Tixier,1,Reservoir,2,resonance,22,Ressence,13,retrograde,10,Revelation,1,Reverso,27,review,138,RGM,1,RGM Watch Co.,1,Richard Mille,119,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,11,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,1005,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,187,tantalum,1,technical insight,3,terra Cielo Mare,1,Theo Auffret,1,tides,1,Tiffany,17,Tissot,10,titanium,12,top news,462,Torsti Laine,1,tourbillon,387,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,6,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,61,YEMA,5,Zannetti,1,Zeitwerk,2,Zeitwinkel,1,Zenith,115,Zodiac,9,
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Time and Watches | The watch blog: Swatch Group: half-year report 2019
Swatch Group: half-year report 2019
With its 18 brands, a workforce of approximately 36,800 persons at the end of June. and close to 150 production facilities in Switzerland, the Swatch Group is the giant of the watchmaking world, a fully verticalized company, from production to distribution, that is present in all market segments. The Group just announced the key figures of the first six months of 2019.
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