Swatch Group : Résultats semestriels plutôt honorables mais nous ne partageons pas l’optimisme de la société pour le reste de 2022
>Résultats S1 à peu près en ligne avec nos attentes mais au-dessus d’un consensus plus prudent : la marge EBIT, proche de 14%, résiste - Le CA S1 ressort à 3 612 MCHF soit une croissance y/y tcc de 7.4% et le groupe publie un EBIT sur ce semestre de 503 MCHF soit une marge de 13.9% (la marge au S1 l’an dernier était à 11.9% et à 14% sur l’ensemble de l’exercice 2021). Nous attendions respectivement 3 683 MCHF et 514 MCHF (marge 14%) tandis que le consensus Visible A...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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