Swatch Group : La reprise attendue pourrait tarder à se matérialiser, prudence toujours de mise
>Prévisions abaissées de près de 25%, OC ajusté en baisse à 146 CHF, nous réitérons notre vue prudente sur le titre, opinion Sous-performance confirmée - Dans la foulée des résultats semestriels publiés en juillet, nous avions adopté un scénario d’amélioration nette au S2 (croissance y/y tcc à +2% contre -10.7% publié au S1) et de reprise plus franche en 2025 mais la persistance de tendances très défavorables en Grande Chine (1/3 du CA groupe en 2023) nous conduit à r...Swatch Group is active in finished watches and jewelry sector with 20 brands in all market and price brackets. In addition, Co. is engaged in the sector of watch movements and components production as well as in the electronic systems sector. Co.'s operations can be divided into two segments: Watches & Jewelry, which is engaged in the production and sale of watches and jewelry; and Electronic Systems, which is engaged in the design, production and commercialization of electronic components, sports timing activities. Co. manufactures and sells watches under the following brands, among others: Breguet, Harry Winston, Blancpain, Glashutte Original, Jaquet Droz, Leon Hatot, and Omega.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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