Swatch: battery flat after FY results

(CercleFinance.com) - The Swatch Group share is down nearly 4% in Zurich on Thursday morning, after the Swiss watchmaker reported 2019 earnings that are down 13.
7% at 748 million Swiss francs, with its operating margin falling 1.6 point to 12.4%.

Sales fell 2.7% to 8.24 billion Swiss francs, and were down 1.8% excluding FX factors, hit by social unrest in Hong Kong. However, excluding this, net sales increased 5% excluding FX factors in the second half.

Swatch proposes a dividend of eight Swiss francs per bearer share and 1.60 Swiss francs per registered share (unchanged from previous year). For 2020, it expects further growth in local currency expected in all regions (except Hong Kong).


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