class = “sc-cffd1e67-0 iQNQmc”>
Sales rose 5.2 percent to 7.89 billion francs in 2023, Swatch announced on Tuesday. When adjusted for exchange rate effects, sales increased by 12.6 percent. Analysts were expecting organic growth of this magnitude.
Swatch also managed to improve its results: Operating profit EBIT increased by 2.8 percent to 1.19 billion francs. This led to a lower margin of 0.3 percentage points to 15.1 percent. As a result, net profit increased by 8.1 percent to 890 million. Analysts were expecting more here at 972 million francs.
Shareholders get more
Swatch says it wants to pay shareholders a dividend of 6.50 francs per title deed. Last year the dividend was 6.00 francs per bearer share.
Swatch is confident about the future direction of the business. Growth opportunities for 2024 are great, especially in the lower and mid-price segments. According to the statement, the development of the foreign exchange situation will continue to influence the group’s results due to its strong industrial base in Switzerland. (SDA/kae)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
