The Swatch Group has finished 2009 with improved sales and high expectations of further growth in 2010.
According to the group’s latest financial report, Swatch’s watch and jewellery segment recorded gross sales of CHF 4429 million (approximately Au$4572 million), a decrease of only 5.5 percent compared to the record set in 2008.
“This sales performance is substantially better than the export figures published by the Swiss Watch Federation, which means that the Group has once again increased its market shares in several price segments,” said the company.
“The board of directors and the executive group management board are very confident of achieving further organic sales growth and improved margins in 2010.
“The main reasons for this positive outlook are the excellent start in 2010, increasing order entries as well as the improving economic environment and market confidence worldwide.
“In addition, the Group’s positioning in all market segments and its broad geographical presence represent important success factors in the watch industry.
“The solid balance sheet and the improved capability to generate cash flow will bring the Group in an even stronger position than before the financial crisis.”