Overview

• Swatch Group's first-half net income fell to 147 million Swiss francs, down 70.5%.
• Revenue dropped 10.7% to 3.45 billion Swiss francs, missing consensus expectations.
• Shares fell over 11% in response to the disappointing financial results.
• The company cited weak demand in China and negative currency impacts as primary reasons.
• Swatch expects improvement in the second half of 2024, aided by cost-cutting measures and strong performance in markets like Japan and the U.S.