In 2011 the Swatch Group recorded sales in excess of CHF 7 billion, for the first time in its history. Gross sales of the Group were CHF 7 143 million, an increase of 21.7% at constant rates in comparison to 2010. The overvaluation of the Swiss franc had a negative impact of no less than CHF 696 million. Watches & Jewellery generated gross sales of CHF 6 312 million (+26.1% at constant rates), thanks to increased sales not only in Greater China but in all other regions and price segments.
Production was confronted with such an enormous increase in demand for all types of components that there were and are serious production bottlenecks. Despite these problems, gross sales increased with 32.6% to CHF 2 015 million.
Electronic Systems was hit hard by the currency effect: sales decreased with 16.3% to CHF 336 million.
December 2011 was the strongest month in the history of the Group and January 2012 had a positive start. Nevertheless, 2012 will be a major challenge but the Swatch Group is confident of continuing growth.
The key figures of the Swatch Group will be published at the latest on February 23, 2012.
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