Swatch Group posts Double-Digit Growth in both Sales and Profit

The Swatch Group, with its 19 brands, grew by +14.4 percent, generating gross sales of CHF 3 847 million in the first half of 2012. Again, this very positive, continued growth spanned all major regions and price segments. Key contributory factors included a combination of strong brands and expansion of the distribution and retail network, as well as the good performance of the Production segment, which posted a +23.2% jump in gross sales. Operating profit grew by +19.4% to CHF 903 million, and net income increased by +25.0% to CHF 724 million. Despite higher taxes paid and strategic increases in inventory levels, the Group generated total operating cash flow of CHF 256 million in the first half of 2012.