Swatch Group : Pretty adverse conditions confirmed and 2024 outlook not great
>Poor Q3 for the watch market, we have lowered our H2 growth forecasts for the group, with our 2023 EBIT forecast cut by -3% - The latest indications at our disposal concerning the watch segment point to a sharp deceleration in H2 for Swatch after a first half that surprised on the upside. Swiss watch exports grew by just +2.3% y-o-y in Q3 (September just reported at +3.8% after -0.7% in July and +4.2% in August) and the growth of +3% recently reported for this same q...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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