Swatch Group: key figures 2022

The Swatch Group published the key figures for financial year 2022

The Swatch Group published the key figures for financial year 2022, reporting net sales of CHF 7,499 million, +2.5% to the previous year at current exchange rates, or +4.6% at constant rates.

The operating profit increased to CHF 1,158 million from CHF 1,021 million in 2021 with an operating margin of 15.4% (previous year: 14.0%). The Watches & Jewelry segment (excluding Production) performed even better with a strong operating margin of 17.2% for the entire year. 

The net income reached CHF 823 million. Net margin of 11.0%.

The operating cash flow of CHF 724 million  was lower versus previous year (CHF 1 298 million) due to precautionary increase in safety stock in view of potential energy shortages and possible delivery bottlenecks.

The number of employees increased in comparison with the previous year by 617 or 2.0% to 32 061 persons.

Sales experienced a 25% growth in local currencies in all regions, with the exception of China, where Covid lockdowns resulted in sales shortfalls of over CHF 700 million.

The MoonSwatch was a best seller, with over 1,000,000 units sold. The high demand continues in the approximately 180 stores which exclusively offer the MoonSwatch.

The Group Management anticipates strong sales growth in 2023 in all regions and segments. After the end of Covid measures, consumption quickly recovered, not only in China, but also in the surrounding markets of Hong Kong SAR and Macau. In addition, lifting of travel restrictions in China will revitalize sales in tourist destinations. The sales growth in January in China reinforces the Group's expectation to aim for a record year in 2023. swatchgroup.com