Swatch Group: Half-year report 2010; record half-year results in terms of both sales and profit

[docrwm]

Swatch Group: Half-year report 2010; record half-year results in terms of both sales and profit

16 August 2010

* Sales in the Watches & Jewelry segment rose in local currency by a strong 32.9% (30.6% in CHF) compared with the first half 2009 and by 10.1% (9.3% in CHF) compared with the previous record half-year 2008.

* Performance substantially better than the export figures for the first six months of 2010 published by the Federation of the Swiss Watch Industry.

* The Group’s gross sales of CHF 3 031 million exceeded the 3 billion mark for the first time in the first half-year, an increase of 22.2% versus 2009 and 2% compared with 2008.

* Significant increase of 81.4% in operating profit to CHF 626 million or 21.8% of net sales.

* Net income 54.5% higher at CHF 465 million or 16.2% of net sales.

* Continued strong growth in July for watches across all segments and regions (in local currencies).

* Positive outlook for the second half-year with the launch of numerous new products, such as, for example, the Breguet world exclusive chronograph “Type XXII 10Hz”, which was personally initiated and introduced by the recently deceased Nicolas G. Hayek.

Full report: http://e1.marco.ch/publish/swatchgroup/8_204/HalfYear2010E100804.pdf