Watches of Switzerland Group PLC (STU:5WS)
€ 6.7 0.1 (1.52%) Market Cap: 1.64 Bil Enterprise Value: 2.33 Bil PE Ratio: 32.54 PB Ratio: 2.45 GF Score: 82/100
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Half Year 2022 Watches of Switzerland Group PLC Earnings Call Transcript

Dec 09, 2021 / 09:00AM GMT
Release Date Price: €16.8 (+1.82%)
Hugh Brian Duffy
Watches of Switzerland Group plc - CEO & Director

Good morning, and welcome to the presentation of the Watches of Switzerland Group First Half Fiscal year '22 results. We communicated sales performance and estimated profits for the half on the 9th of November, and now we're presenting the final results and some further details. I will give the business update, then our CFO, Anders Romberg, will present the financial review and our latest outlook for the full year. We will then open up to your questions.

Group sales were GBP 586 million, plus 45% and plus 41% versus last year and 2 years ago, respectively. Business in the U.S. continues to be very strong at plus 50% versus last year and plus 67% versus 2 years ago. In the U.K., sales were also very strong at plus 42% versus last year plus 32% versus 2 years ago. Group e-comm at plus 29% was a positive pleasant surprise given that this year, stores were open, and last year was impacted by lockdown store closures and much reduced traffic. Profits benefited from favorable margin mix and cost leverage. Consequently, adjusted

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