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Swatch Group: key figures 2020

Swatch Group: key figures 2020
The Swatch Group published the key figures for financial year 2020, a year that presented significant challenges due to the Covid-19 pandemic.

In 2020, the Group net sales for the full year amounted to CHF 5,595 million, -28.7% compared with the previous year at constant exchange rates, or -32.1% at current rates. 

The operating result was CHF 52 million (vs CHF 1,023 million in 2019) – or CHF 99 million, excluding the discontinued business unit Calvin Klein – with a net loss of CHF -53 million, versus net income of CHF 748 million in the previous year.

The operating cash flow was CHF 819 million with a net liquidity of CHF 1,700 million, 24.3% or CHF 332 million higher than the previous year.

In the second half of the year, the net sales were -14.3% compared with the previous year (at constant exchange rates), but 54.7% above the first half. December 2020 was strong despite renewed lockdowns in important markets such as Germany and Great Britain.

Mainland China experienced double-digit sales growth not only for the second half but also for the full year. USA was at previous-year level in December. The Tissot brand achieved the best monthly sales in its history in the USA in December, even without the T-Touch Connect Solar, which will only be launched in the USA in early 2021.

Further expansion of e-commerce business, which reported sales growth of 70%, could not compensate for sales losses in traditional retail. The proportion of e-commerce for brands in the middle and basic price segment reached between 20% and 30%. Production of watches, jewelry and components was gradually increased in the past months, but will only reach capacity again in the first half of 2021.

Research and development activities were continued at the same high level as previous years. This resulted in 205 new patent applications in the year under review (previous year: 231).

The Group Management anticipates a strong catch-up in consumption worldwide for watches and jewelry in 2021, as has already been observed in Mainland China after normalization of the health situation. Demand will strengthen further as soon as travel restrictions can be relaxed or lifted.

Numerous new products from the Group’s brands will be additional sales drivers for 2021, for example, the Omega Moonwatch, the Longines Spirit or the Tissot T-Touch Connect Solar. The latter will be launched in additional markets in 2021, including the USA and China. swatchgroup.com

COMMENTS

Name

A. Lange & Sohne,102,AkriviA,8,Alain Silberstein,1,alarm,10,Alpina,10,Andersen Geneve,1,Andersmann,2,Andreas Strehler,5,Angelus,4,annual calendar,33,Anonimo,15,Anthony de Haas,1,Antiquorum,2,Antoine Martin,2,Antoine Preziuso,1,Apple,1,Apple Watch,1,Aquadive,2,Aquastar,1,Armin Strom,49,Arnold and Son,22,Astarwatch,1,Atelier de Chronometrie,1,Ateliers deMonaco,2,Atmos,1,Auctions,68,Audemars Piguet,56,Autodromo,1,automaton,1,Bamford,2,Baselworld,7,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,3,Baume et Mercier,36,Bell & Ross,30,Bernard Lederer Universe,1,Bernhard Lederer,1,Bernhard Zwinz,1,bespoke,1,Blancpain,63,BLU,1,blue dial,3,Bonhams,2,Bovet,10,Brands histories,1,Breguet,86,Breitling,53,Bremont,1,Bremont Watch Company,4,Breva,2,bronze,20,Bücherei,1,Bulgari,68,Bulova,1,Burberry,1,C3H5N3O9,1,carbon,1,carillon,2,Carl F. Bucherer,2,Carl Suchy,1,Carrera,6,Cartier,43,ceramic,6,Certina,6,Chanel,2,Chaumet,3,chiming hour,6,Chopard,31,Christie's,6,Christophe Claret,5,Christopher Ward,9,chronograph,494,chronometer,31,Chronoswiss,5,Citizen,3,co-axial,1,column-wheel,7,complete calendar,12,complications,78,concept watch,5,Concord,1,constant-force,33,Corum,17,Credor,1,CSEM,1,Cyrus,15,Czapek,6,Davosa,1,Daytona,4,De Bethune,20,de Grisogono,3,dead seconds,17,detent escapement,2,DeWitt,9,diving,5,diving watches,264,double regulator,2,Doxa,15,drei,1,dress watches,382,dual time,81,Ebel,1,Eberhard,29,Edox,3,El Primero,35,Emile Chouriet,1,Emmanuel Bouchet,1,enamel dial,9,enamelling,15,Equation of time,8,ETA,1,Eterna,18,exhibitions,1,F.P.Journe,32,Faberge,2,factory tours,3,Favre-Leuba,1,feature article,48,features,85,Ferdinand Berthoud,5,flyback,39,Fondation de la Haute Horlogerie,1,Fortis,5,Franc Vila Founder,1,Franck Muller,7,Frederique Constant,12,FVF,1,Gallet,1,Geneva Watchmaking Grand Prix,8,Georg Jensen,1,George Daniels,3,Gerald Charles,2,Gerald Genta,7,Girard-Perregaux,40,Glashuette,16,Glashuette Original,52,Glashütte,30,Glashütte Original,83,Glycine,4,GMT,77,GoS,1,GoS Watches,1,GPHG,11,GPHG 2020,3,GPHG2019,1,Graham,5,Grand Feu,3,Grand Prix d’Horlogerie de Geneve,13,Grand Seiko,21,Grande Complication,22,Grande Sonnerie,7,Greubel Forsey,30,Gronefeld,7,Grönefeld,7,Grossmann,3,guilloché,3,H. Moser and Cie,32,H20 Watch,1,Habring,9,Habring2,10,Hajime Asaoka,2,Hallmark of Geneva,2,Hamilton,26,hands-on,63,Hanhart,2,Harry Winston,11,Hautlence,5,Hermes,22,Heuer,1,high jewellery,1,Hublot,24,Hybris Artistica,1,Hydro Mechanical Horologists,7,HYT Watches,13,Icon,1,In pictures,7,independent watchmaker,15,industry news,178,interview,4,Interviews,4,IWC,117,Jaeger-LeCoultre,103,Jaquet Droz,51,Jean-Francois Mojon,1,Jean-Marc Pontroué,1,JeanRichard,3,jumping hours,29,Junghans,9,Kaj Korpela,1,Kari Voutilainen,6,Kenissi,1,Korpela,1,Krayon,3,Kudoke,3,Kurono,1,Ladies watches,135,Lang & Heyne,2,Lange,33,large date,1,Laurent Ferrier,19,Laureus,1,Le Garde Temps,1,Lederer Watches,1,Leica,1,Lemania,1,Leroy,3,Linde Werdelin,2,Longines,65,Louis Erard,4,Louis Moinet,5,luxury steel watch,9,LVMH,9,LVMH 2020,6,Maîtres du Temps,1,Manufacture Contemporaine du Temps,3,Manufacture Royale,3,Marc Lang,1,marine chronometer,1,Maurice de Mauriac,1,Maurice Lacroix,6,MB&F,39,MCT,1,MeisterSinger,53,meteorite,2,metiers d'art,1,Mido,18,military watches,13,Minerva,1,Ming,1,Minute Repeater,45,monopusher chronograph,2,Montblanc,51,moon phases,105,Moritz Grossmann,27,Moser,29,Muhle,4,Mühle-Glashütte,3,mystery watches,3,Nautilus,7,New Britain Corp,1,new watches,2562,Nomos,46,Norqain,15,Ochs und Junior,4,Officine Panerai,85,Omega,132,Only Watch,5,Only Watch 2015,4,Only Watch 2017,2,Only Watch 2019,3,Oris,34,paillonne,1,Panerai,86,Parmigiani,7,Parmigiani Fleurier,24,Pascal Coyon,1,Patek,29,Patek Philippe,98,Pedrozo & Piriz,1,perpetual calendar,104,Perrelet,8,Petermann Bedat,1,Phenomen,1,Philippe Dufour,1,Phillips,7,Piaget,23,Pierre DeRoche,1,pilot watch,78,Pisa,3,Pisa Circle,3,Pita,1,planetarium,1,platinum,4,pocket watch,3,pocket watches,2,Poincon de Geneve,2,Porsche Design,16,Pre-SIHH 2016: Cartier - Clé de Cartier Automatic Skeleton,1,pulsometer,5,Purnell,1,quartz,4,Rado,13,Ralf Tech,2,Ralph Lauren,2,rattrapante,18,Raul Pages,1,Raymond Weil,1,rectangular watches,10,reddot award,1,regatta,1,regulator,18,remontoire,5,Remy Cools,1,Reservoir,1,resonance,13,Ressence,8,retrograde,7,Revelation,1,Reverso,21,review,62,RGM,1,RGM Watch Co.,1,Richard Mille,85,Richemont,4,Richmond,1,Roger Dubuis,11,Roger Smith,1,Roger W. Smith,1,Rolex,51,Romain Gauthier,9,Romain Jerome,1,Royal Oak,20,Rudis Sylva,1,sapphire,2,Seamaster,1,Seiko,29,SevenFriday,5,SIHH,3,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,3,Singer Reimagined,5,single hand,9,single-hand watches,12,Sinn,13,skeleton,21,smartwatch,7,solar energy,1,Sotheby's,5,Speake-Marin,4,Speedmaster,23,split seconds,14,sport watches,612,Spring Drive,2,squelette,42,steampunk,1,Steinhart,1,striking time,15,SuisseMecanica,1,sunrise,2,sunset,2,Swatch,3,Swatch Group,15,table clocks,3,Tag Heuer,118,technical insight,2,terra Cielo Mare,1,Tiffany,17,Tissot,4,titanium,2,top news,152,Torsti Laine,1,tourbillon,282,Trilobe,1,Tudor,24,Tulloch,1,Tutima,2,ultra thin,27,Ulysse Nardin,33,Unimatic,1,Union Glashutte,6,Urban Jurgensen,29,Urwerk,18,Vacheron Constantin,72,Van Cleef & Arpels,7,Vauchier Fleurier,1,Vianney Halter,4,video,1,vintage watches,2,Vulcain,9,wandering hours,1,Watches & Wonders,33,Watches & Wonders 2020,19,Watches & Wonders 2021,28,Watches & Wonders 2022,1,Watches&Wonders,2,Winnerl,1,worldtime,39,Zenith,89,Zodiac,7,
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Time and Watches | The watch blog: Swatch Group: key figures 2020
Swatch Group: key figures 2020
The Swatch Group published the key figures for financial year 2020, a year that presented significant challenges due to the Covid-19 pandemic.
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