Swatch Group : Profitability continuing to improve but caution still in order on top line growth
>The group has been hurt by forex trends and China in H2 but it is confident on profitability; -2% for our FY sales forecast, +1% for EBIT - As expected, the group indicated that it has suffered from the tough conditions in China, particularly in October and November (to recap, sales from mainland China accounted for 42% of sales in 2021, this share could drop below 38% in 2022, and the negative impact in H1 due to China was estimated at CHF 400m). Despite favourabl...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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