Watches of Switzerland Group PLC (STU:5WS)
€ 6.6 0 (0%) Market Cap: 1.63 Bil Enterprise Value: 2.32 Bil PE Ratio: 32.49 PB Ratio: 2.44 GF Score: 83/100
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Full Year 2023 Watches of Switzerland Group PLC Earnings Call Transcript

Jul 13, 2023 / 08:00AM GMT
Release Date Price: €8.1 (+11.72%)
Hugh Brian Duffy
Watches of Switzerland Group plc - CEO & Director

Good morning, everyone. I'm Brian Duffy, the CEO of the Watches of Switzerland Group. Thank you for joining our presentation and call on the fiscal year '23 results for our group. Our agenda today is an update from me; then Craig Bolton, President of U.K. and Europe, will add more color and detail on the U.K. and Europe businesses; and David Hurley, President of North America and Deputy CEO, will do the same for his division; and then our CFO, Anders Romberg, will present the financial review of fiscal year '23 and our outlook for fiscal year '24, following which, we'll open the lines for your questions.

So fiscal year '23 was a very gratifying year. We achieved record sales of GBP 1.543 billion, which was plus 25% on prior year. And a record EBIT of GBP 165 million, which was plus 27% on the prior year. We also continued to deliver excellent returns on capital employed, reflecting our ongoing investment in the business. Our ROCE for the year was 27.9%, which is 50 bps up on the prior year.

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