Record year for the Swatch Group with Group sales of CHF 6 440 million, an increase at constant exchange rates of +21.8% over 2009 and +12.7% over the previous record year 2008, despite capacity bottlenecks and adverse exchange rates 1).
• The extraordinary strength of our brand portfolio was again reflected in an excellent performance by the Watch segment in practically all markets and price segments, with an increase at constant exchange rates of +28.1%.
• Marked upturn in the Production segment, especially in the second half of the year, with a year-on-year increase in sales of +7.5%. • Positive trend in the Electronic Systems segment with sales up by +11.7% on 2009.
• Improved operating margin compared to previous year as well as higher net income expected, despite an unfavourable currency constellation at year-end.
• After a strong month of December with 21% growth at constant rates in the segment Watches & Jewelry, there are already indications in January 2011 of continued double-digit growth. Outlook remains optimistic in the entire year 2011 for further strong organic sales growth.
1)Negative foreign currency development, mainly in the Euro and US Dollar, impacted sales by CHF 164 million or –3% versus 2009 (CHF 285 million or –4.7% versus 2008; CHF 596 million or –10% versus 2007).
Full report: click here
Source: The Swatch GroupmLtd
