Swatch Group : Des marges en amélioration au S2, de belles promesses pour 2021 mais on est encore loin du compte sur la topline
>La marge remonte à 11.2% sur le S2 2020 mais l’activité est ressortie en dessous des attentes et traduit une sous-performance - Certes le groupe a réussi à dégager un free cash-flow notable sur 2020 (plus de 300 MCHF après dividende) en dépit d’une baisse des ventes annuelles de près de 29% en publié dont -46% sur le seul S1, ce qui reflète à la fois une marge opérationnelle ramenée à des niveaux corrects au S2 grâce aux efforts de gestion (11.2%, pas très loin des...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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