Business is pretty good for the Swatch Group
#1
05-17-2022, 09:01 AM
Business is pretty good for the Swatch Group
SWATCH GROUP: Key Figures 2021
Biel/Bienne (Switzerland), January 25, 2022
Net sales of CHF 7 313 million, +30.7% to the previous year at current exchange rates, or +29.6% at constant rates.
Operating profit of CHF 1 021 million (previous year: CHF 52 million).
Operating margin of 14.0% (previous year: 0.9%).
Watches & Jewelry segment (excluding Production) with a strong operating margin of 17.7% for the entire year and 18.4% in the second half.
Net income of CHF 774 million compared with net loss of CHF -53 million in the previous year. Net margin of 10.6%.
Strong operating cash flow of CHF 1 298 million (previous year: CHF 819 million).
Free cash flow1) of CHF 1 033 million (previous year: CHF 675 million).
High net liquidity2) of CHF 2 558 million (previous year: CHF 1 700 million).
At its next meeting, the Board of Directors will decide on the dividend proposal to the Annual General Meeting.
For 2022, the Group anticipates double-digit sales growth in local currencies.
Outlook 2022
Group Management anticipates double-digit sales growth in local currencies in 2022. This will be ensured by numerous, and in some cases, spectacular new products from the brands in all segments. Omega, as timekeeper for the Olympic Winter Games in Beijing, will be present worldwide in the media in February, and in September, Tissot, as timekeeper for the Asian Games in Hangzhou, will be visible far beyond the Chinese market.
At the end of 2021, order books in the Electronic Systems segment were twice as high as at the end of 2019, which will lead to sales growth in the current year.
Biel/Bienne (Switzerland), January 25, 2022
Net sales of CHF 7 313 million, +30.7% to the previous year at current exchange rates, or +29.6% at constant rates.
Operating profit of CHF 1 021 million (previous year: CHF 52 million).
Operating margin of 14.0% (previous year: 0.9%).
Watches & Jewelry segment (excluding Production) with a strong operating margin of 17.7% for the entire year and 18.4% in the second half.
Net income of CHF 774 million compared with net loss of CHF -53 million in the previous year. Net margin of 10.6%.
Strong operating cash flow of CHF 1 298 million (previous year: CHF 819 million).
Free cash flow1) of CHF 1 033 million (previous year: CHF 675 million).
High net liquidity2) of CHF 2 558 million (previous year: CHF 1 700 million).
At its next meeting, the Board of Directors will decide on the dividend proposal to the Annual General Meeting.
For 2022, the Group anticipates double-digit sales growth in local currencies.
Outlook 2022
Group Management anticipates double-digit sales growth in local currencies in 2022. This will be ensured by numerous, and in some cases, spectacular new products from the brands in all segments. Omega, as timekeeper for the Olympic Winter Games in Beijing, will be present worldwide in the media in February, and in September, Tissot, as timekeeper for the Asian Games in Hangzhou, will be visible far beyond the Chinese market.
At the end of 2021, order books in the Electronic Systems segment were twice as high as at the end of 2019, which will lead to sales growth in the current year.
#3
05-17-2022, 09:51 AM
In my opinion, watches have become a luxury item, not a necessity, because today all people have phones or any kind of Swatches. Watches, especially old-school firms, became even more popular because today, wearing the old model of watches looks great. In my opinion, many watches brands need to make the procurement transformation and increase their incomes by a huge value. To do so, they can address professional business consulting companies like barkersprocurement.
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