The Swatch Group has announced Key Figures for the year ended December 31, 2016, ahead of more details to follow in its Annual Report in March. The announcement mostly shows falling numbers for 2016 but “anticipates healthy growth in 2017…”
The Swatch Group just announced its 2016 full year results. Despite declines across the board, chief executive Nick Hayek expects a recovery in 2017, nudging the group’s shares up in Zurich trading. Sales at the owner of brands like Omega and Longines fell 10.6% in 2016, with the watch division alone seeing a similar sales drop of 10.7%. Group profit […]
For more than 2 years now, the watchmaking industry is facing a “crisis” or at least, sales and profits are lower than in the 2000s, the golden era of modern watchmaking. After Richemont announced massive shakeups and rather bad results, it’s now time for Swatch Group to make public the results for the year 2016… and they’re not good. Sales are decreasing over 10% (compared to 2015), operating result plunges of close to 45% and the net income is almost half of what it has been in 2015 (which was already not the best year the industry has seen).
First revealed by chief executive Nick Hayek in 2015, the Swatch Group’s investment in batteries is going full steam ahead, despite considerable scepticism from investors, reports Reuters. The owner of brands like Omega and Longines has long dabbled in other technologies, including solar powered plans and the Smart microcar it codeveloped with Mercedes-Benz, but watches are still […]
As the 2016 Olympics draw to a close, it’s apt to recall the Olympic motto – Citius, Altius, Fortius. If ever there was a credo which professed constant evolution and improvement- ” “Faster, higher, stronger” would not only fit the bill but in an act of historical symmetry and poetry, the ethos…
Swatch Group Results for the first half of 2016 summary:…