Swatch & Richemont among European listed firms expected to glean £396bn in revenue from China in 2019
European listed firms expect to receive £396.14 billion in total revenue from China in 2019, with luxury brands and automakers the most exposed sectors, according to a Refinitiv analysis of company data.
The importance of the purchasing power of China’s expanding middle class has had a large impact on the corporate and economic health of Europe, which has led to concerns as their spending has slowed alongside the slowing of Chinese economic growth.
Among the pan-European STOXX 600 index, consumer firms including Swatch, Richemont and BMW, derived the biggest section of revenues from China with a total of €127 billion in sales.
That equates to nearly a third of the estimated €456 billion in total revenue to be derived from China. The total 2019 revenue for Europe’s listed firms is €6.7 trillion, which means that China accounts for about 7%.
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