Report
Jean Danjou

Swatch Group : Rattrapage 2023 plus fort qu’escompté mais prudence maintenue sur la suite

>Résultats S1 flatteurs en dépit de l’effet changes : croissance organique à +18%, marge EBIT en progression par rapport au S2 2022 - Le CA groupe à 4 019 MCHF progresse de 11.3% y/y au S1 soit 18% à tcc et l’EBIT à 686 MCHF reflète une marge de 17.1%, elle se compare à 13.9% publié au titre du S1 de l’exercice précédent et 16.9% sur le S2. Nous tablions sur un CA S1 à 3 845 MCHF soit une croissance à tcc de 10.9% et un EBIT à 621 MCHF (marge à 16.1%), le consensus Vi...
Underlying
Swatch Group Ltd. Bearer

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.

Provider
Oddo BHF
Oddo BHF

​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.

Analysts
Jean Danjou

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