• Sales in the Watches & Jewelry segment, despite capacity bottlenecks, grew a strong +27.4% at constant rates or +13.3% at current rates, to CHF 2 913 million.

• Gross sales for the Group of CHF 3 362 million exceed the record half year 2010 by +24.2% at constant rates and +11.4% at current rates1).

• Strongly overvalued Swiss franc leads to a negative currency impact on sales of CHF 387 million at 2010 rates.

• Record operating profit of CHF 756 million (+20.8%), with an operating margin of 23.7% (21.8% in 2010).

• Net income of CHF 579 million up +24.5% versus the record half year 2010, representing 18.2% of net sales (16.2% in 2010).

• Positive outlook in local currency. Continuing strong growth in all segments and regions, which is constrained by uncurbed speculation in the Swiss franc.

1) on a comparative basis, excluding Lasag and the step motor activity of Microcomponents

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Source: Swatch Group