Navigation

Skiplink Navigation

Main Features

Swatch leaves financial crisis in fine shape

The Swatch Group has recorded the third-best year in its history with sales of SFr5.4 billion ($5.2 billion) in 2009 and it sees “solid growth” for 2010.

The world’s largest watchmaking concern said that 2009 sales had fallen by 6.3 per cent compared with the previous year when adjusted for currency swings and 2008 divestments.

In a statement, the Biel-based group said that there had been a significant rebound in sales in the second half of 2009, with a “phenomenal” record month of December.

It said it was very confident of further increases in sales and margins in 2010.

Swatch, which owns a stable of brands in all price categories, said Omega’s mission as official timekeeper of the Winter Olympics in Vancouver was just one of the highlights to come.

Analysts at Bank Wegelin said in a note that the group had proven relatively resilient to the crisis thanks to strong brands and broad regional reach.

“The outlook is more than promising and profits should continue to be very strong if the world economy keeps recovering,” they said.

swissinfo.ch and agencies


Links

Neuer Inhalt

Horizontal Line


subscription form

Form for signing up for free newsletter.

Sign up for our free newsletters and get the top stories delivered to your inbox.







Click here to see more newsletters

swissinfo EN

The following content is sourced from external partners. We cannot guarantee that it is suitable for the visually or hearing impaired.

Join us on Facebook!

×