The Swiss watch manufacturer Swatch remains on course for growth: In the first half of 2023, sales rose by 11 percent to 4.02 billion Swiss francs (about 4.17 billion euros), as the company announced on Thursday in Biel. Calculated in local currencies, the increase was as much as 18 percent. The watch group benefited from the continued good demand in the USA and the recovery in China after the corona opening.
The growth also had a positive effect on the results: operating profit (EBIT) climbed 37 percent to 686 million francs and consolidated profit by 56 percent to 498 million francs. Swatch has thus clearly exceeded the analysts’ targets in terms of both profit figures and sales.
The group management around company boss Nick Hayek expects further growth. The growth opportunities in local currencies are “excellent” for the second half of 2023 in all regions and price segments. The only drop of bitterness Hayek identified was the unfavorable currency environment. (dpa)