Press releaseGross sales exceed CHF 7 billion for your initial time to CHF 7 143 million, an improve of +21. 7% more than 2010 at
continuous exchange prices. Over two 800 new jobs produced in 2011 alone. Operating profit of CHF 1 614 million, an improve of +12. 4% on
2010. Operating margin increases from 23. 5% to a powerful 23. 9% regardless of the unfavorable currency atmosphere and also the sharp
rise in commodity costs. buy fake watches Net earnings up +18. 1% to CHF 1 276 million. Equity more than CHF eight billion for your initial time, equal to
an equity ratio of 82. 3%. Proposed dividend improve of 15%, CHF five. 75 per bearer share (2010: CHF five. 00) and CHF 1. 15 per registered
share (2010: CHF 1. 00). An additional effective begin in January 2012 with double-digit development within the Watches Jewelry segment
regardless of the higher benchmark from the prior year.

Group OverviewFor 2020, the Swatch Group has record numbers at all levels to post as soon as once more. Regardless of the ongoing
challenging currency atmosphere, patek phillipe replica gross sales had been up 21. 7% on a currency-adjusted basis to CHF 7 143 million. The continued
weakness within the euro and also the dollar throughout the year had a significant unfavorable influence on sales of about CHF 700
million. Improvements in effectiveness and also the Group's traditionally powerful price controls assisted improve its operating profit
for your year below evaluation by 12. 4% to CHF 1 614 million, regardless of an unfavorable trend in foreign exchange prices and also
the sharp rise within the cost of gold and diamonds, two essential commodities for us. The operating margin of 23. 9% was in a position
to beat the great level from the prior year replica panerai watch . General replika omega , the Group posted record outcomes, with its net earnings up 18. 1% more than the
prior year to CHF 1 276 million. Equity of CHF eight 071 million, with an equity ratio of 82. 3%, confirms the continuity from the
Group's incredibly strong financing. The typical return on equity was a considerable 16. 8% (prior year: 16. 5%).

The Swatch Group produced an operating money flow of CHF 705 million regardless of an improve in inventories , for your expansion from
the personal distribution network around the 1 hand, and for strategic commodities like valuable metals and diamonds however. Moreover,
roughly CHF 580 million had been utilized for investing activities. Throughout the year below evaluation, the Swatch Group produced
over two 800 new jobs, which raised the amount of workers worldwide to more than 28 000. The Board of Directors from the Swatch Group
will propose the following dividend for 2011 towards the Annual Common Meeting on 16 Might 2012: CHF five. 75 per bearer share and CHF
1. 15 per registered share. This improve within the dividend payment to shareholders of 15% versus the prior year is really a outcome
from the record outcomes accomplished in 2011 and underscores the optimistic outlook for company overall performance going forward in
2012. Outlook for 2012The Swatch Group is nicely ready for your future and is sustaining its clear and wholesome long-term development
technique. We anticipate development to continue in 2012, even though this really is increasingly more difficult because of the higher
benchmark. The Swatch Group may also continue to create targeted investments in 2012 in its worldwide distribution network and in its
production capacities in Switzerland across all segments, regardless of the powerful Swiss franc. cheap replica tag heuer watches tag heuer watches replicas
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