mar, Jan 23rd 2024
Swatch Group excels in 2023, showcasing robust sales and profit surge.
In a remarkable turn of events, the Swatch Group, renowned for its precision in watchmaking, has reported a significant uptick in sales and profits for 2023. As detailed in a recent announcement, Swatch Group’s sales soared by 5.2 percent, reaching an impressive 7.89 billion Swiss francs. This growth, notably adjusted for currency fluctuations, was even more pronounced, with a 12.6 percent increase, aligning with analysts’ forecasts for substantial organic growth.
Swatch Group’s success story doesn’t end with sales figures. The company’s operating profit, EBIT, witnessed a 2.8 percent rise to 1.19 billion Swiss francs. Despite a slight dip in margin to 15.1 percent, down by 0.3 points, the bottom line shone bright, with net profit climbing by 8.1 percent to 890 million. This figure, however, fell short of analysts’ expectations of 972 million francs.
In a move reflecting confidence and gratitude towards its shareholders, Swatch Group announced a dividend increase to CHF 6.50 per share, up from last year’s 6.00 francs per bearer share. This gesture underscores the Group’s solid financial standing and commitment to rewarding shareholder loyalty.
Looking ahead, the Group remains optimistic about its business trajectory in 2024. The company sees immense growth potential, especially in the lower and mid-price segments of the market. However, Swatch acknowledge the potential impact of currency dynamics on its results, given its substantial industrial presence in Switzerland.
Swatch Group’s performance in 2023 is a testament to its enduring appeal and strategic agility in the dynamic world of watchmaking. With a clear vision for the future and a strong foundation built on the past year’s successes, the Group is well-positioned to navigate the challenges and opportunities.
©Keystone/SDA
French 
English 
German 
Spanish 
Arabic