WOSGF

Watches Of Switzerland Q4 Revenue Up, Sees Weak Adj. EBIT In FY24; Cautiously Optimistic About FY25

(RTTNews) - Watches of Switzerland Group Plc (WOSG.L, WOSGF) reported Thursday higher revenues in its fourth quarter, while fiscal 2024 revenues were flat.

For the year, adjusted EBIT is expected to be between 133 million pounds and 136 million pounds, down from last year's 165 million pounds. In fiscal 2025, the company said its outlook reflects cautious optimism.

In its fourth-quarter trading update, the company reported that its group revenue increased 3 percent to 380 million pounds from last year's 371 million pounds. Revenues grew 4 percent at constant currency.

Luxury watches revenue grew 3 percent at reported rates and 5 percent at constant currency, with particularly strong performance in the US.

US revenue of 190 million pounds climbed 14 percent on last year at constant currency.

In fiscal 2024, group revenue was 1.538 billion pounds, compared to 1.543 billion pounds a year ago. Group revenue increased 2 percent at constant currency on prior year.

The company plans to announce fiscal 2024 results on June 27.

For fiscal 2025, following the more challenging trading conditions of fiscal 2024, it is cautiously optimistic about trading.

On an organic pre-IFRS 16 basis, revenue is expected to be 1.67 billion pounds to 1.73 billion pounds, with a growth of 9 percent to 12 percent at constant currency.

On an IFRS 16 and pre-IFRS 16 basis, adjusted EBIT margin is expected to expand by 0.2 percent to 0.6 percent from the prior year.

Further, Watches Of Switzerland said it remains focused on executing Long Range Plan and are committed to the targets to more than double sales and Adjusted EBIT by the end of FY28.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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