A real cold shower. On the eve of the weekend, Swatch surprised investors by posting a severe profit warning. The World Watch leader, which will publish its full results Thursday, said Friday that its sales should decline by 12% on the first half of 2016, after a decline of 3% in 2015. Net income is projected to drop him in the order of 50 to 60%, having already dropped by 21% in 2015 and 26% in 2014. It stood at 1.11 billion Swiss francs (1.26 billion euro) l last year for a turnover of 8.45 billion. Much more degraded than expected outlook, which have cooled the market: the price of Swatch was down X% Friday at the Zurich Stock Exchange, bringing the current on its lowest since 2009.
the owner of Omega and Tissot watches recorded a drop in sales ” in important markets “, the statement said. First place Hong Kong, Chinese consumers tend to neglect to go to other areas such as Japan to benefit from more attractive exchange rates. Swatch is also struggling in Europe. “In the beginning of the year, the signals were positive in France and Switzerland, and it was thought that tourist bookings and would restart a sales growth of 5% in local currencies in these countries was possible” , says Nick Hayek, head of Swatch. “After what happened in Nice last night, I can say that I will have to revise this decline. “. A situation that will necessarily involve other players in the luxury and holorgerie, analysts said. Finally, Swatch also continues to suffer from the strong Swiss franc weighs on exports.
Despite the poor results, the watchmaker said it challenged neither its staff nor its investments, especially in new products such as watches connected – including Swatch Bellamy, among others able to make payments without contact. In its statement, Swatch Group also states that the price increase policy will be maintained. In early 2015, Nick Hayek announced an increase in tariffs on luxury watch “5-7% or even 10%.” Answers apparently deemed insufficient by the markets.
Justin Delépine
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