Lapping last year’s CHF $140 million foreign exchange expense, profits bounced back to CHF 105.0 million ($132.9 mm) in Q2 from a CHF 40.9 million loss, as revenues grew 13% to CHF 850.3 million ($1,076.3 mm) from CHF 749.2 million. Accounting for the Swiss franc’s strength against the dollar and euro, constant currency sales growth would have been 22%. Adjusted EBITDA increased by 24% to CHF 168.1 million from CHF 136.1 million, and adjusted EBITDA margin increased to 19.8% from 18.2%.

Wholesale sales increased just 5% (+13% CC) to CHF 461.9 million, ... Log in to view full article.