The Swatch Group results – Swatch Group News

The Swatch Group results
Swatch Group – Turnover for 2001 at high level established in the previous year – expected operating income and net income slightly under record results of previous year
Despite difficult economic and political conditions, the Swatch Group Ltd achieved a modest rate of organic growth of 0.7 % in local currency in 2001.
This performance is all the more remarkable since, on the one hand, the comparable period in 2000 closed with record results in all sectors and, on the other, no effect of new acquisitions is included. The sale respectively the phasing out of a number of product groups, such as components for the medical sector and measuring instruments of the Cary Division at Nivarox-FAR, components for the automobile industry at Universo-Plastik and other products, diminished the turnover by over CHF 20 million compared to the previous year.
Turnover in million CHF
2001
2000
Trend in %In local currency
Effect of currency fluctuations
TotalWatches
3,0333,120+ 0.7- 3.5- 2.8Watch production
1,3921,413- 1.4 – 0.1 – 1.5Electronic systems
422468- 9.8- 9.8General services
1546Consolidation
680-784Total
4,1814,263+ 0.7- 2.6 – 1.9Sales of watches, movements and stepping motors (in million units)113,4 112,3 + 1.0 + 1.0
The year 2001 also presented our Group with some major challenges. Consumer sentiment became clearly more reluctant, especially in the USA, after the marked weakening of financial markets since spring, the terrorist attacks and other worldwide as well as local unrest. Turnover for the most important last 4 months of the year turned out to be below our expectations. mehr sehen rolex uhr und rolex masterpiece ii replica