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HY 2008 results Swatch Group
Written by A Passion for Watches   
Wednesday, 20 August 2008 06:07

Swatchgroup: Half-Year Report 2008

August 15, 2008
Half-Year Report 2008: Swatch Group – Further Expansion of Market Share in all Watch Segments and Regions

• Strong sales growth of +17.7% at constant exchange rates (+11% at current 30 June 2008 exchange rates) in the Watches and Jewelry segment despite ongoing capacity bottlenecks and unfavorable exchange rates

• Sales growth of +13.8% at constant exchange rates for the entire Group (+8.5% at current 30 June 2008 exchange rates)

• 16% increase in operating profit to CHF 593 million and to an operating margin of 21% (first half-year 2007: 19.6%), despite negative currency effects and sharp rise in the price of raw materials and precious metals

• Slight decline of 9.1% in consolidated net income to CHF 418 million (prior year: CHF 460 million) as a result of unrealized temporary value adjustments on portfolios and foreign investments due to exceptionally weak stock markets and exchange rates at the end of June 2008. Return on sales of 14.8%

The full report can be found here: http://www.newsbox.ch/public/18222/att/20291_completereportpdfdocumentkb.pdf
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http://www.apassionforwatches.com/forum/viewtopic.php?f=2&t=8

Last Updated on Wednesday, 20 August 2008 06:09
 
The COSC results for 2007
Written by A Passion for Watches   
Sunday, 10 August 2008 17:42

The Contrôle Officiel Suisse des Chronomètres (COSC) presented the results for 2007. COSC speaks of record figures, as numbers went up 13.3% from 2006. In total, there were 1,538,676 registrations for 2007.

The first three are no big surprise, these are:

1. Rolex (728,255)
2. Omega (341,161)
3. Breitling (222,650)

The other 246,610 certificates are given to watches from other (mostly) major brands like Offcine Panerai, TAG-Heuer, Zenith, Sinn, Ebel and so on.

Chronometer?
(source: http://www.cosc.ch)

The term chronometer is often wrongly applied to timekeeping instruments fitted with an additional mechanism that may be set in motion by pushbuttons to enable measurement of the duration of an event. Such an instrument is in fact a chronograph or chronoscope. It may of course be chronometer-certified, provided it meets the criteria set for the standard. In its technical regulations, the COSC has included an additional condition, namely the permanent display of the seconds.

A chronometer is a high-precision watch capable of displaying the seconds and housing a movement that has been tested over several days, in different positions and at different temperatures, by an official neutral body (COSC).

  • Each chronometer is unique, identified by a number engraved on its movement and a certification number given by the COSC.
  • Each movement is individually tested for several consecutive days, in 5 positions and at 3 temperatures.
  • Each movement is individually measured. Any watch with the denomination "chronometer" is provided with a certified movement.

More information can be found at: http://www.cosc.ch.

Last Updated on Sunday, 10 August 2008 17:53
 
aPfW Forum
Written by A Passion for Watches   
Wednesday, 06 August 2008 07:59

To create some added value to the a Passion for Watches LinkedIn group, we created a simple forum for members of this group to be able to meet and discuss watches, the watch industry etc. Please note that you do not have to register using your own name, but be sure to fill-in an e-mail address that works. a Passion for Watches is a non-profit initiative and we will assure you that your privacy will be respected.

Feel free to visit the forum and join the discussion (or start your own). Click 'forum' on top of the screen.

Have fun!! 

January 2009: Additional information, we took the forum off-line. Linkedin is now offering a discussion feature on their own site. Please feel free to join the Linkedin group and join the discussions. 

Last Updated on Wednesday, 07 January 2009 13:30
 
Richemont Publishes Results Q1 2008
Written by Robert-Jan   
Wednesday, 16 July 2008 09:30


Richemont, the luxury group that includes prestigious names as Cartier, Montblanc, Piaget, Vacheron Constantin, Jaeger-LeCoultre, IWC and Officine Panerai, presented the results of Q2 2008.

Total sales increased 20% in comparison to Q2 2007, up to EUR 1428m. Europe, Asia-Pacific and America all significant growth. Japan show a lower turnover for most maisons, probably due to the challenging market conditions, which have impacted the luxury businesses.

The full Management Statement can be downloaded from the Richemont website, or by clicking this link.

 

 

Last Updated on Wednesday, 16 July 2008 09:31
 
LinkedIn
Written by A Passion for Watches   
Wednesday, 09 July 2008 11:27

Welcome to a Passion for Watches, initiated due to the popularity of the identical named LinkedIn Group. With this website a Passion for Watches wants to create a platform for those who are active in the watch industry or are interested in the watch industry. 

LinkedIn

Furthermore, active feeds from wrist watch related websites are published (or made easily accessible) through this portal. The links section will be updated regulary with relevant and interesting websites.

Enjoy!

Last Updated on Wednesday, 16 July 2008 09:31
 

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