watch manufacturer
Swatch leaves crisis year behind
Swatch net sales rose to 7.31 billion francs in 2021 compared to the previous year. Photo: Anthony Anex/KEYSTONE/dpa
© dpa-infocom GmbH
The Swiss watch group returns to profitability. The company sold significantly more last year than in 2020, when lockdowns severely slowed business.
The watch company Swatch has recovered well from the Corona slump. The company sold significantly more last year than in 2020, when lockdowns around the world had slowed business badly.
Swatch’s net sales increased by 31 percent to 7.31 billion francs (approx. 7.05 billion euros) in the 2021 financial year compared to the previous year, as the group announced on Tuesday.
Swatch also increased its results significantly compared to the crisis year 2020. Operating profit (EBIT) grew to 1.02 billion francs after only 52 million previously. The bottom line is that Swatch managed to jump back into the black and posted a profit of 774 million francs after a loss of 53 million francs in the previous year.
In terms of sales, Swatch has not yet completely overcome the crisis, but it has in terms of profits: in 2019, the group had sales of 8.24 billion francs and a profit of 748 million francs.