Brian Duffy
Group Chief Executive Officer
Replay available
Watches of Switzerland Group plc (WOSG) Q4 2024 Earnings Call
Watches of Switzerland Group plc (LSE: WOSG) Q4 2024 earnings conference call, held 2024-06-27. Replay captured from the company's public earnings webcast.
Hosted by
Featured presenters
David Hurley
President, U.S. Division
Craig Bolton
Managing Director, UK Division
Anders Romberg
Chief Financial Officer
Adrien de Verger
Analyst, Goldman Sachs
John Cox
Analyst, Kepler
Richard Taylor
Analyst, Barclays
Investor webinar replay
Watch the replay and follow the connected company analysis, news, and investor updates for Watches Of Switzerland Group Plc.
Replay transcript excerpt
WEBVTT 00:00:02.005 -- 00:00:06.951 So morning everyone and welcome to the presentation of our results for fiscal year 24. 00:00:06.951 -- 00:00:08.753 Our agenda 00:00:08.753 -- 00:00:13.938 is an update from myself for the group, then David Hurley for the US, Craig Bolton 00:00:13.938 -- 00:00:19.004 for the UK, Anders Romberg our CFO will go through fiscal year 00:00:19.004 -- 00:00:24.070 24 results and fiscal year 25 guidance. I will then present an update 00:00:24.070 -- 00:00:25.872 on our 25-28 00:00:25.872 -- 00:00:30.935 long-range plan and we will then open for your questions. 00:00:31.182 -- 00:00:35.367 The Watches of Switzerland group operates in great product categories. 00:00:35.367 -- 00:00:41.454 The luxury watch market, which is more than 90% Swiss, is robust, resilient, 00:00:41.454 -- 00:00:45.897 with a long-term focus on product quality and innovation. 00:00:46.059 -- 00:00:51.145 Demand for Swiss luxury watches exceeds supply for key brands, and consumers 00:00:51.145 -- 00:00:56.815 often wait patiently for their chosen timepiece, in many cases for years. 00:00:56.815 -- 00:01:02.066 The market was impacted by the pandemic. 2020 was impacted 00:01:02.066 -- 00:01:07.096 by lockdowns. Then two years of unusually high growth for luxury watches and 00:01:07.096 -- 00:01:12.527 jewellery. And since mid-2022, the markets have adjusted to this 00:01:12.527 -- 00:01:17.577 high growth and normalised. Looking at this volatile period in 00:01:17.577 -- 00:01:22.825 total, the luxury watch market has been strong, as seen with average 00:01:22.825 -- 00:01:27.052 growth for the UK of 6.3% compounded 00:01:27.052 -- 00:01:33.142 per annum from 2019, and that is despite the loss of tourism in the UK. 00:01:33.142 -- 00:01:38.671 And in the US, average mar...