The Swatch Group AG Reports Earnings Results for the Half Year Ended June 30, 2024
July 14, 2024
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The Swatch Group AG reported earnings results for the half year ended June 30, 2024. For the half year, the company reported sales was CHF 3,445 million compared to CHF 4,019 million a year ago. Net income was CHF 136 million compared to CHF 486 million a year ago.
The Swatch Group SA is a Switzerland-based holding company engaged in the apparel and accessories industry. The Companyâs activities are divided into two core business segments: Watches and Jewelry, as well as Electronic Systems. The Watches and Jewelry segment includes the production and sale of branded watches, jewelry and quartz movements, notably the brands Breguet, Harry Winston, Blancpain, Glashuette Original, Jaquet Droz, Leon Hatot, Omega, Longines, Rado, Union Glashuette, Tissot, Balmain, Certina, Hamilton, Calvin Klein watches and jewelry, Swatch and Flik Flak. The Electronic Systems segment includes the production and marketing of electronic components, notably batteries and sports timing equipment. The Company also supplies products from these segments to third-party watchmakers. Swatch Group SA is represented worldwide through its subsidiaries and distributors, notably Tourbillion and Hour Passion, and operates Swiss production plants in Boncourt, Grenchen and Villeret.