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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 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,79,AkriviA,8,alarm,8,Alpina,10,Andersmann,2,Andreas Strehler,5,Angelus,4,annual calendar,29,Anonimo,9,Antiquorum,2,Antoine Martin,2,Antoine Preziuso,1,Apple,1,Apple Watch,1,Aquadive,2,Armin Strom,36,Arnold and Son,20,Astarwatch,1,Ateliers deMonaco,2,Auctions,57,Audemars Piguet,42,Autodromo,1,Bamford,1,Baselworld,4,BaselWorld 2013,50,BaselWorld 2014,53,Baselworld 2015,69,Baselworld 2016,27,Baselworld 2017,64,Baselworld 2018,75,Baselworld 2019,41,Baume,1,Baume et Mercier,21,Bell & Ross,22,Bernard Lederer Universe,1,Blancpain,43,BLU,1,blue dial,3,Bonhams,2,Bovet,8,Brands histories,1,Breguet,62,Breitling,43,Bremont,1,Bremont Watch Company,4,Breva,2,bronze,16,Bücherei,1,Bulgari,47,Bulova,1,Burberry,1,C3H5N3O9,1,carillon,1,Carl F. Bucherer,2,Carl Suchy,1,Carrera,4,Cartier,39,ceramic,5,Certina,3,Chanel,1,Chaumet,3,chiming hour,4,Chopard,24,Christie's,4,Christophe Claret,5,Christopher Ward,6,chronograph,369,chronometer,27,Chronoswiss,3,Citizen,3,co-axial,1,column-wheel,7,complete calendar,7,complications,59,concept watch,5,Concord,1,constant-force,29,Corum,14,CSEM,1,Cyrus,7,Czapek,3,Davosa,1,Daytona,3,De Bethune,17,de Grisogono,3,dead seconds,16,detent escapement,2,DeWitt,9,diving,3,diving watches,181,double regulator,2,Doxa,4,drei,1,dress watches,285,dual time,76,Eberhard,19,Edox,1,El Primero,24,Emile Chouriet,1,Emmanuel Bouchet,1,enamel dial,7,enamelling,14,Equation of time,5,Eterna,17,exhibitions,1,F.P.Journe,26,Faberge,2,Favre-Leuba,1,feature article,26,features,62,Ferdinand Berthoud,3,flyback,31,Fondation de la Haute Horlogerie,1,Fortis,4,Franck Muller,6,Frederique Constant,10,Gallet,1,Geneva Watchmaking Grand Prix,8,Georg Jensen,1,George Daniels,3,Gerald Genta,2,Girard-Perregaux,39,Glashuette,16,Glashuette Original,25,Glashütte,30,Glashütte Original,54,Glycine,2,GMT,64,GoS,1,GoS Watches,1,GPHG,7,GPHG2019,1,Graham,5,Grand Feu,3,Grand Prix d’Horlogerie de Geneve,11,Grand Seiko,12,Grande Complication,19,Grande Sonnerie,5,Greubel Forsey,23,Gronefeld,7,Grönefeld,7,Grossmann,3,guilloché,2,H. Moser and Cie,24,H20 Watch,1,Habring,8,Habring2,9,Hajime Asaoka,1,Hallmark of Geneva,2,Hamilton,19,hands-on,25,Harry Winston,10,Hautlence,5,Hermes,15,high jewellery,1,Hublot,13,Hybris Artistica,1,Hydro Mechanical Horologists,7,HYT Watches,12,Icon,1,In pictures,7,independent watchmaker,7,industry news,128,IWC,92,Jaeger-LeCoultre,84,Jaquet Droz,32,JeanRichard,3,jumping hours,26,Junghans,8,Kaj Korpela,1,Kari Voutilainen,5,Korpela,1,Krayon,1,Kudoke,1,Ladies watches,103,Lang & Heyne,2,Lange,23,large date,1,Laurent Ferrier,16,Le Garde Temps,1,Leica,1,Lemania,1,Leroy,3,Linde Werdelin,1,Longines,41,Louis Erard,1,Louis Moinet,5,luxury steel watch,2,LVMH,3,Maîtres du Temps,1,Manufacture Contemporaine du Temps,3,Manufacture Royale,3,marine chronometer,1,Maurice de Mauriac,1,Maurice Lacroix,5,MB&F,28,MCT,1,MeisterSinger,37,meteorite,1,metiers d'art,1,Mido,8,military watches,11,Minerva,1,Ming,1,Minute Repeater,39,Montblanc,46,moon phases,85,Moritz Grossmann,25,Moser,23,Muhle,4,Mühle-Glashütte,3,mystery watches,2,Nautilus,4,New Britain Corp,1,new watches,1996,Nomos,29,Ochs und Junior,4,Officine Panerai,63,Omega,93,Only Watch,4,Only Watch 2015,4,Only Watch 2017,2,Only Watch 2019,2,Oris,29,Panerai,39,Parmigiani,4,Parmigiani Fleurier,20,Pascal Coyon,1,Patek,18,Patek Philippe,76,perpetual calendar,87,Perrelet,6,Phenomen,1,Philippe Dufour,1,Phillips,6,Piaget,20,Pierre DeRoche,1,pilot watch,66,Pita,1,planetarium,1,platinum,2,pocket watch,3,pocket watches,2,Poincon de Geneve,2,Porsche Design,13,Pre-SIHH 2016: Cartier - Clé de Cartier Automatic Skeleton,1,pulsometer,4,quartz,3,Rado,10,Ralf Tech,2,Ralph Lauren,2,rattrapante,14,Raul Pages,1,Raymond Weil,1,rectangular watches,7,reddot award,1,regulator,15,remontoire,3,Reservoir,1,resonance,9,Ressence,6,retrograde,5,Revelation,1,Reverso,16,review,24,Richard Mille,61,Richemont,3,Richmond,1,Roger Dubuis,11,Roger Smith,1,Roger W. Smith,1,Rolex,39,Romain Gauthier,8,Romain Jerome,1,Royal Oak,18,Rudis Sylva,1,Seiko,24,SevenFriday,2,SIHH,2,SIHH 2012,4,SIHH 2013,25,SIHH 2014,36,SIHH 2015,43,SIHH 2016,44,SIHH 2017,40,SIHH 2018,43,SIHH 2019,53,Singer,2,Singer Reimagined,3,single hand,7,single-hand watches,8,Sinn,12,skeleton,15,smartwatch,6,solar energy,1,Sotheby's,5,Speake-Marin,4,Speedmaster,17,split seconds,9,sport watches,469,Spring Drive,2,squelette,36,steampunk,1,Steinhart,1,striking time,10,SuisseMecanica,1,Swatch,3,Swatch Group,11,table clocks,2,Tag Heuer,81,terra Cielo Mare,1,Tiffany,15,Tissot,2,top news,40,Torsti Laine,1,tourbillon,237,Trilobe,1,Tudor,17,Tutima,2,ultra thin,25,Ulysse Nardin,31,Union Glashutte,1,Urban Jurgensen,25,Urwerk,16,Vacheron Constantin,68,Van Cleef & Arpels,7,Vauchier Fleurier,1,Vianney Halter,3,vintage watches,1,Vulcain,9,wandering hours,1,Watches & Wonders,15,Watches & Wonders 2020,1,Watches&Wonders,1,worldtime,32,Zenith,63,Zodiac,5,
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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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Time and Watches | The watch blog
https://www.timeandwatches.com/2019/07/swatch-group-half-year-report-2019.html
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