Swatch Group overall results are positive with net sales and profitability on the rise, but the end of 2018 proved to be more challenging. The Swatch Group, however, anticipates healthy growth in 2019.
The Swiss Watch powerhouse reported a growth in net sales, up by 6.1% at CHF 8,475 million at current exchange rates (and up 5.7% at constant exchange rates). Overall, 2018 results are positive for the Swatch Group.
However, if the first semester revenues were up 14%, business slowed in the last trimester of 2018, specifically in December. Among the 2018 highlights, Swatch reports that the growth was driven by the prestige and luxury range, mentioning in particular Blancpain, Omega and Longines. Swatch Group anticipates a “healthy growth” for the year to come and reports “solid growth” in January. Further expansion of e-commerce, mainly in the middle and basic range, will open additional possibilities. Swatch Group announces its plan to produce watches with anti-magnetic properties across all brands – using either silicon or Nivachron balance springs.