Swatch Group : The recovery should be more visible, but debates continue on the long-term view for the watches division
>Recovery more visible as of H1 2021 - The recent comments from LVMH and Richemont suggest that the watches division is now on track for a more visible recovery, even if the figures for Swiss watch exports for the first five months of the year are somewhat lacklustre (exports -3% below the 2019 level). We forecast growth of +25-30% in watch exports for the full year, giving a level similar to that of 2019 with a decline of -1-3% in H1 and a symmetrical gain in H2. It...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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