Swatch Group hits 7 billion in sales for 2011

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Swatch Group hits 7 billion in sales for 2011

Post by Ocean on 2012-04-19, 13:51

In 2010, the Swatch Group already presented record results in excess of 6.44 billion in turnover. In 2011, despite a difficult economic environment, the Swatch Group remained on record course. The group reached the seven billion milestone for the first time, and generated gross sales of 7.143 billion, an increase of 21.7% at constant rates in comparison to 2010. The ongoing overvaluation of the Swiss Franc, particularly against the US Dollar and the Euro, had a negative impact of 696 million or -10.8% on group sales. Despite this extremely negative currency effect, sales in Swiss Francs increased by an impressive +10.9% over the previous record year 2010.

The strong group brands experienced significant growth, not only in Greater China but also in all other regions and all price segments. The Watches & Jewelry segment recorded an increase in sales of 26.1% at constant rates to 6.31 billion. Investment in retail activities as well as numerous marketing offensives throughout the world contributed to these gratifying sales figures.

The Production segment was confronted with an enormous increase in demand for all types of components. This strong growth contributed to a marked increase in gross sales of 32.6% to 2.01 billion for the segment.

The Electronics Systems segment mainly felt the effects of the overvalued Swiss Franc against the US Dollar and the downtrend in certain key markets. Gross sales reached 336 million, down 16.3% at constant rates versus the previous year.

2012 will be a major challenge. The Swatch
Group is confident of again generating qualitative growth in 2012.

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Re: Swatch Group hits 7 billion in sales for 2011

Post by fatman on 2012-04-21, 14:00

That is a big # but I am surprised that it is not bigger really considering all of the brands under the umbrella.

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