VAT GROU

The Philippines has announced a 12% value-added tax (VAT) on digital services provided by major tech companies such as Amazon, Netflix, Disney, and Alphabet. This move is intended to level the playing field for domestic retailers. » Mehr auf gurufocus.com

Watches of Switzerland (LON: WOSG) share price has staged a strong recovery after the company published strong financial results. It soared to a high of 421p, its highest level since February 24th. It has jumped by over 24% from its lowest level this year. Revenue growth continues Watches of Switzerland, a leading seller of Rolex and other luxury watches, is doing well this year as signs show that the luxury watch sector is recovering. Its most recent results showed that its revenue rose by 4% in Q4’24 to £380 million, helped by strong demand for key brands. It also continued gaining market share in the UK, US, and other markets. In the US, revenue rose by 14% to £190 million while its UK and European revenue came in at over £190 million. The UK business is being affected by the lack of VAT free shopping for tourists. For the year, the company’s revenue rose by 2% to £1.53 billion while its profits continued rising. The company expects that its revenue for the year will be between £1.67 billion and £1.73 billion this year. The key catalysts for the stock are the strong demand for luxury watches now that British, European, and American stocks have jumped to a record high. Cryptocurrencies like Bitcoin and Solana are also rising, which will likely lead to more discretionary spending. Recent studies showed that the luxury watches industry was valued at $30.5 billion in 2023 and that it will get to over $38 billion by 2028. The other important catalyst will be its upcoming store launches. It will launch its European flagship Rolex boutique in London. Other launches will be in Manchester, Edinburg, Pittsburgh, and Florida. Further, the company is expanding its business into the jewellery market. It recently acquired Roberto Coin, an Italian company in a $130 million deal. Watches of Switzerland is a relatively cheap company that is trading at a PE multiple of 9.4, lower than the FTSE 100 index average of 14.95. Other retailers like Tesco and Marks and Spencer have multiples of 14 and 11, respectively. Watches of Switzerland share price analysis WOSG chart by TradingView The daily chart shows that the WOSG stock price bottomed at 322.2p this month. It has failed to move below that level since March this year. A look at the chart shows that it has rebounded to over 400p. WOSG shares have also moved above the 50-day Exponential Moving Averages (EMA). It has now found a strong resistance at the 100-day moving average. Therefore, the outlook for the stock is bullish with the next point to watch being at 500p, the 23.6% retracement point. If this happens, the stock will need to rise by about 20%, possibly ahead of its full-year earnings in June. The post Watches of Switzerland share price analysis: towards a 20% jump? appeared first on Invezz » Mehr auf invezz.com

VAT Group AG (OTCPK:VACNY) Q4 2023 Earnings Conference Call March 5, 2024 5:00 AM ET Company Participants Christopher Wickli - Investor Relations Urs Gantner - Chief Executive Officer Fabian Chiozza - Chief Financial Officer Michel Gerber - Investor Relations Conference Call Participants Michael Foeth - Vontobel Joern Iffert - UBS Sandeep Deshpande - JP Morgan Sebastian Kuenne - Bank of Canada Martin Marandon - ODDO BHF Robert Sanders - Deutsche Bank Craig Abbott - Kepler Cheuvreux Olivia Honychurch - Jefferies Didier Scemama - Bank of America Timm Schulze-Melander - Redburn Atlantic Aviation Christopher Wickli Good morning. Welcome to the VAT Fully Results Presentation today here in Sennwald Slovak [ph] and online via webcast, it's a delight to see so many people in the room here today. » Mehr auf seekingalpha.com