swatch group ag/the-reg (SWGNF) Key Developments
Swatch Reports Earnings Results for the First Half of 2014
Jul 22 14
Swatch reported earnings results for the first half of 2014. The company's profit hurt by strong Swiss franc Vienna Swatch sold more watches in the first half of the year, but its net profit fell 11.5% to CHF 680 million ($754 million) because of negative currency effects. The operating profit fell 8.8% to CHF 830 million, owing not only to the strong franc, but also to a factory fire and to high marketing expenditures for the Sochi Winter Olympics. Sales rose by 8.5% from the equivalent period 2013 to CHF 4.5 billion at constant exchange rates. At current exchanges rates, the sales increase was 4.0%, totaling CHF 4.3 billion.
Swatch to Open Stores in India
Jul 19 14
Swatch has applied to set up stores in India. The company has made a formal proposal to the commerce ministry under which thecompany would have 100% control of its business.
Swatch Launches Sistem51 Collection in Dubai
Jun 24 14
Swatch launched the Sistem51 collection for the first time in the region in Dubai. The colourful collection of automatic watches, targeted at men and women, are priced at AED 540. Currently, the watches are sold at Mall of the Emirates, but starting from Sunday, they will be available at The Dubai Mall, Deira City Centre, Ibn Battuta Mall and Marina Mall. The collection was launched globally in Switzerland last year.
Swatch Group AG Reports Consolidated Earnings Results for the Year Ended Dec. 31, 2013
Mar 20 14
Swatch Group AG reported consolidated earnings results for the year ended Dec. 31, 2013. For the year, the company reported net sales of CHF 8,817 million compared to CHF 7,796 million reported in the same period last year. Operating profit was CHF 2,314 million against CHF 1,978 million reported in the same period last year. Profit before taxes was CHF 2,356 million against CHF 2,011 million reported last year. Net income attributable to equity holders of the company was CHF 1,921 million against CHF 1,596 million reported last year. Cash flow from operating activities was CHF 1,309 million against CHF 999 million and investments in intangible assets were CHF 48 million against CHF 39 million reported last year. Investments in property, plant and equipment were CHF 574 million against CHF 438 million reported last year. Consolidated net income per registered basic and diluted share was CHF 7.08 against CHF 5.91 and consolidated net income per bearer diluted share was CHF 35.38 against CHF 29.54 reported last year. Average return on equity was 21.2% against 19.7% reported last year.
Swatch Reports Earnings Results for the Year 2013
Feb 5 14
Swatch reported earnings results for the year 2013. The company increased its profits by 20% to CHF 1.93 billion ($2.13 billion) in 2013 on the back of strong sales and an expanded distribution network. Revenue rose 8% to CHF 8.8 billion. The company's operating profit improved 17% and reached CHF 2.3 billion.