Full Year 2022 Watches of Switzerland Group PLC Earnings Call Transcript
Good morning, everyone. Welcome to the presentation of our fiscal year '22 results. Thank you for joining us. My name is Brian Duffy. I'm the CEO of the Watches of Switzerland Group. I'll be presenting our overall group performance and then our CFO, Bill Floydd, will present the financial report and the outlook. We will then, as usual, be happy to answer your questions.
Fiscal year '22 was a very strong year for our group, achieving sales growth overall of 40%, U.S. plus 48% and the U.K. plus 36%. Luxury watches grew by 36%. Luxury jewelry was very strong at plus 86%.
Profits benefiting from the leverage and more favorable margin mix grew by 68% at the adjusted EBIT level, with EPS year-on-year growth of 76%. Return on capital employed improved significantly by 770 basis points to 27.4%.
We opened our first showroom in the EU in Stockholm. We're ahead of schedule with our LRP and feel confident in our LRP goals.
Momentum remains strong. Waiting list continues to grow, and our business model has
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