Watches of Switzerland Group PLC (WOSGF) Discusses Fiscal Performance, U.S. Market Growth, and Strategic Investments in Luxury Retail Transcript

Watches of Switzerland Group PLC (WOSGF) Discusses Fiscal Performance, U.S.

Watches of Switzerland Group PLC (WOSGF) Discusses Fiscal Performance, U.S. Market Growth, and Strategic Investments in Luxury Retail July 17, 2026 7:00 AM EDT Company Participants Hugh Duffy - CEO & Director Lars Anders Romberg - CFO & Director David Hurley - Deputy CEO & President of North America Presentation Hugh Duffy CEO & Director Good morning, everyone. Thank you for joining our presentation. We will be reasonably brief this morning, focusing on fiscal year '26 results ahead of hosting a more in-depth presentation on our growth strategies this afternoon.

You'll be hearing firstly from me, Brian Duffy, Group CEO. I'll be taking you through some highlights for the year and performance against our growth pillars. I'll then hand over to Anders Romberg, our Group CFO, who will take you through the numbers in more detail before we open up, as usual, for your questions.

Fiscal year '26 was a year of strong execution against what was a complex and changeable operating backdrop. The growth our teams managed to deliver while navigating headwinds from tariffs, gold pricing, margin changes and ongoing consumer pressure in the U.K. is a testament to their drive and capabilities. So our top line numbers, sales for the year of GBP 1.828 billion, up 13% on last year in constant currency.

The U.S. was plus 24% in constant currency, which saw it become our largest revenue and profits market, and the U.K. was plus 5% on last year. Encouragingly, we saw an improving trend over the course of the year with H2 at plus 17% constant currency ahead of the plus 10% delivered in H1. Adjusted EBIT grew 6% in constant currency to GBP 155 million and statutory PBT of GBP 133 million was up an impressive 75% year-on-year.

Turning to our growth drivers. We will talk about these