Watches of Switzerland Group PLC (STU:5WS)
€ 6.75 0 (0%) Market Cap: 1.64 Bil Enterprise Value: 2.33 Bil PE Ratio: 32.83 PB Ratio: 2.47 GF Score: 84/100
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Full Year 2024 Watches of Switzerland Group PLC Earnings Call Transcript

Jun 27, 2024 / 08:00AM GMT
Release Date Price: €5 (+8.23%)
Brian Duffy
Watches of Switzerland Group PLC - Chief Executive Officer, Executive Director

So good morning, everyone, and welcome to the presentation of our results for fiscal year '24. Our agenda is an update from myself for the group, then David Hurley for the US, Craig Bolton for the UK. Anders Romberg, our CFO, will go through fiscal year '24 results and fiscal year '25 guidance. I will then present an update on our '25-'28 long range plan and we will then open for your questions.

The Watches of Switzerland Group operates in great product categories. The luxury watch market, which is more than 90% Swiss is robust, resilient with our long-term focus on product quality and innovation. Demand for Swiss luxury watches exceeds supply for key brands and consumers often wait patiently for their chosen timepiece, in many cases for years.

The market was impacted by the pandemic. 2020 was impacted by lockdowns, then two years of unusually high growth for luxury watches and jewelry. And since mid-2022 the markets have adjusted to this high growth and normalized. Looking at this volatile

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