Press release

Half-Year Report 2011


Biel / Bienne (Switzerland), 28 July 2011 – Swatch Group: Again with record sales and profit

  • Sales in the Watches & Jewelry segment, despite capacity bottlenecks, grew a strong +27.4% at constant rates or +13.3% at current rates, to CHF 2 913 million.
  • Gross sales for the Group of CHF 3 362 million exceed the record half year 2010 by +24.2% at constant rates and +11.4% at current rates1).
  • Strongly overvalued Swiss franc leads to a negative currency impact on sales of CHF 387 million at 2010 rates.
  • Record operating profit of CHF 756 million (+20.8%), with an operating margin of 23.7% (21.8% in 2010). 
  • Net income of CHF 579 million up +24.5% versus the record half year 2010, representing 18.2% of net sales (16.2% in 2010).
  • Positive outlook in local currency. Continuing strong growth in all segments and regions, which is constrained by uncurbed speculation in the Swiss franc.

1)on a comparative basis, excluding Lasag and the step motor activity of Microcomponents


The outlook for the Group in the second half of the year remains promising, particularly given the fact that July is confirming the trend in sales and results of the first half. The Group will continue to consolidate its global market presence and invest further in production capacities and staff training in order to maintain its strategy of healthy and sustainable growth. Continuing strong growth and the positive outlook in local currency will, however, be hampered by uncurbed speculation in the Swiss franc. This will further negatively impact sales growth as well as operating profit and net income.

The long-term policy of the Swatch Group is and always will be to win market share. Even in the current difficult exchange rate situation with the strongly overvalued Swiss franc, this successful strategy will be maintained. 

Swatch Group: Half-Year Report 2011 – PDF Document with more details (646 KB)




Béatrice Howald, Spokesperson

The Swatch Group Ltd, Biel/Bienne

Tél. +41 32 343 68 33




Thierry Kenel, CFO

The Swatch Group Ltd, Biel/Bienne

Tél. +41 32 343 68 11