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THE WATCHES OF SWITZERLAND GROUP Watches of Switzerland Group PLC ( " the Group " ) today provides the following update relating to the 14 and the 53 weeks ending 2 May 2021 . ● Watches of Switzerland Group PLC Q4 FY21 Trading for the 14 weeks ( Q4 ) and 53 weeks ( FY ) to 2 May 2021 FY21 Highlights Group revenue £ 905.1 million ( FY20 : £ 810.5 million ) , + 13.3 % in constant currency , + 11.7 % in reported terms relative to FY20 and + 17.9 % in constant currency relative to FY19 Sales in line with guidance despite extended UK lockdown in Q4 ( 16 weeks vs Group's assumption of 6 weeks ) and adverse FX movements ● Strong finish to year with Adjusted EBITDA expected at upper end of guidance Outstanding US performance and robust UK trading despite extended lockdown Outstanding growth in the US with revenue + 38.5 % vs FY20 and + 64.8 % vs FY19 ( both in constant currency ) ; investments and initiatives exceeding expectations and driving broad - based growth , including encouraging early results from the relaunch of luxury jewellery in Mayors Robust UK revenue performance + 3.6 % vs FY20 despite store closures for c . 26 weeks of the year ( FY20 : 6 weeks ) and significantly reduced tourism and airport business ( + 3.1 % relative to FY19 ) Luxury Watches + 16.0 % relative to FY20 to represent 87.1 % of Group revenue ( FY20 : 83.9 % ) Significant step - up achieved in Group ecommerce sales + 120.5 % relative to last year ● Domestic sales now represent 94.7 % of Group revenue ( FY20 : 72.5 % ) Proactive application of advanced technology to digital marketing , customer relationship management ( " CRM " ) and clienteling which continue to play an important role in driving business performance , generating strong conversion rates despite reduced store traffic ● FY21 Unaudited adjusted pre - IFRS 16 EBITDA¹ expected to be between £ 104.0 million and £ 107.0 million ( FY20 : £ 78.1 million ) , implied margin between 11.5 % and 11.8 % ( FY20 : 9.6 % ) ● Confirmed planned repayment of all furlough support received during the period from the UK Government Repayment and cancellation of £ 45.0 million Coronavirus Large Business Interruption Loan Scheme facility as a result of a continued strong business performance Approval to launch the Watches of Switzerland Group Foundation ( " the Foundation " ) with £ 1.5 million initial contribution with an additional £ 1.5 million committed for FY22 Net debt² £ 43.9 million as at 2 May 2021 ( 26 April 2020 : £ 129.7 million ) relative to guidance range of £ 60.0 million to £ 80.0 million Q4 FY21 Highlights ● Group revenue £ 218.2 million ( Q4 FY20 : £ 123.9 million ) , + 81.8 % constant currency , + 76.1 % in reported terms relative to Q4 FY20 and + 24.7 % in constant currency relative to Q4 FY19 UK revenue £ 126.2 million ( FY20 : £ 84.6 million ) ; + 49.3 % vs Q4 FY20 and -2.7 % relative to Q4 FY19 o Stores generated strong growth upon re - opening , having been closed since 26 December 2020 O Further development of mono - brand channel with three boutiques opened in the UK 1 Unaudited adjusted pre - IFRS 16 EBITDA is EBITDA before exceptional and non - underlying items . Non - underlying items includes loss on disposal of property , plant and equipment , costs from non - trading activities and management fees . Shown on a continuing basis . 2 Net debt is total borrowings before adjusting for capitalised transaction costs less cash and cash equivalents