Steady Growth in Sales and Results
Confidence in Our Outlook
- First-half sales: €3,740m, +6.5% LFL1 and +3.6% on a
reported basis
- First-half Operating Result from Activity (ORfA): €244m,
+35.4%
- Operating margin up 1.5 pts to 6.5%
- Net profit: €100m, +31.6%
- Net financial debt as of 30 June 2024: €2,422m vs
€2,346m at end-June 2023
- Outlook for 2024:
- Organic sales growth of around 5%
- Operating margin confirmed close to 10%
Regulatory News:
Statement by Stanislas de Gramont, Chief
Executive Officer of Groupe SEB (Paris:SK)
“Our first-half performance is in line with our expectations,
with organic sales growth once again exceeding 5% in the second
quarter, in a slightly less favorable environment, coupled with a
marked increase in our operating margin.
Our Consumer business continued the trend of recent quarters,
driven by Europe and America. Our performance in Asia proved
resilient in a depressed market. This overall momentum was the
result of our long-term strategy focused on product innovation and
activating all distribution channels.
The Professional business posted a record first-half performance
in Coffee, characterized by sizeable deliveries from large deals,
particularly in China. We also continued to make headway in new
geographies and new customer segments and expanded our positions in
the professional culinary market with the acquisition of
Sofilac.
We remain confident in our ability to achieve an operating
margin close to 10% in 2024, with organic sales growth of around 5%
for the year.”
GENERAL COMMENTS ON GROUP SALES
In the first half of 2024, Groupe SEB generated sales of
€3,740m, up 6.5% LFL (+3.6% on a reported basis) versus 2023.
Currency fluctuations had a negative impact of €127m on first-half
sales, with a lesser effect in the second quarter (-€52m vs -€75m
in the first quarter).
Following first-quarter organic sales growth of 7.3%, the Group
posted further organic sales growth in the second quarter of 5.6%,
representing an increase of €101m. This was the fifth consecutive
quarter where organic growth exceeded 5%.
The Consumer business posted half-year sales of €3,246m,
an increase of 5.9% LFL and 2.2% on a reported basis. There was
virtually no difference in sales growth between the first and
second quarters, which recorded LFL growth of +5.8% and +5.9%
respectively. This good performance was driven by Europe (+8.6%
LFL) and the Americas (+12.9% LFL). Sales in Asia were resilient in
the first half of the year in a depressed market environment.
The Group continued to gain market share over the first half of
the year, thanks to product innovation, in flagship categories such
as oil-less fryers, versatile vacuum cleaners, cookware, linen care
and full auto coffee machines. Markets outside of Asia were
generally well oriented over the half-year. However, the situation
changed during the second quarter in some regions, marked by a
softening in consumption or slightly less favorable macroeconomic
conditions.
Sales in the Professional business rose 10.9% LFL (+13.8%
on a reported basis) based on high comps, having been favorably
impacted by the phasing of large deals, most notably in China. This
trend was also supported by a solid core business in Coffee in
Germany. The Group continued to expand and strengthen its foothold
in new geographies and new customer segments.
Growth in the Professional business slowed at the end of the
semester based on higher comps, due to the rollout of large deals
in 2023. The effect is expected to be more pronounced in the second
half of the year.
During the half-year, the Group continued its expansion into the
professional and semi-professional culinary markets with the
acquisition of the Sofilac Group, which owns the Charvet (high-end
professional cooking appliances) and Lacanche (high-end cooking
ranges) brands.
* the more recent acquisitions of Pacojet and Forge Adour will
be fully consolidated in H2 2023.
BREAKDOWN OF SALES BY REGION
Sales in €m
H1
2023
H1
2024
Change 2024/2023
As reported
LFL
EMEA
Western Europe
Other EMEA
1,489
1,029
460
1,555
1,030
525
+4.4%
+0.1%
+14.2%
+8.6%
-1.3%
+30.5%
AMERICAS
North America
South America
458
315
143
517
336
180
+12.8%
+6.9%
+25.9%
+12.9%
+5.6%
+29.1%
ASIA
China
Other countries
1,231
998
232
1,174
957
217
-4.6%
-4.1%
-6.4%
+0.0%
+0.0%
-0.1%
TOTAL Consumer
3,177
3,246
+2.2%
+5.9%
Professional
435
495
+13.8%
+10.9%
GROUPE SEB
3,612
3,740
+3.6%
+6.5%
Rounded figures in €m
% calculated on non-rounded
figures
COMMENTS ON CONSUMER SALES BY REGION
Sales in €m
H1
2023
H1
2024
Change 2024/2023
As reported
LFL
EMEA
Western Europe
Other EMEA
1,489
1,029
460
1,555
1,030
525
+4.4%
+0.1%
+14.2%
+8.6%
-1.3%
+30.5%
WESTERN EUROPE
In Western Europe, sales for the first half of the year
were down 1.3% LFL and almost unchanged on a reported basis
(+0.1%). Excluding the impact of loyalty programs – which were
significant last year in the first half – the region was up 1.5%
LFL. The second quarter saw a sequential improvement with positive
organic sales growth of 2.9%, excluding the impact of loyalty
programs.
In France, sales for the half-year were up by more than 7% LFL,
restated for the impact of the aforementioned loyalty programs, in
a Small Domestic Equipment (SDE) market that was relatively buoyant
from the start of the year. This increase in sales was mainly due
to the Group’s excellent results in categories that are driving
market growth, such as oil-less fryers, versatile vacuum cleaners
and full auto coffee machines.
After a first quarter that was almost unchanged, Germany posted
sales growth of around 6% in the second quarter, notably due to
commercial synergies following the reorganization of the SEB and
WMF teams, effective since the beginning of 2024. New products
listings and market share gains are noteworthy in cookware,
oil-less fryers, versatile vacuum cleaners, and full auto coffee
machines.
In other Western European countries, the positive trend
continued in the first half of the year. Sales were up sharply in
Belgium, where the Group enjoyed excellent commercial momentum in
all categories, as well as in Portugal and the Nordic countries. In
contrast, the SDE market in the United Kingdom remained in
decline.
OTHER EMEA COUNTRIES
Sales in other EMEA countries were up 31% LFL during the
first half of the year. Note that this growth was adversely
affected by major devaluations of the Turkish lira, Egyptian pound
and Russian ruble, with growth limited to 14% on a reported
basis.
In Central and Eastern Europe, the SDE markets once again
performed well. The Group accelerated its growth in some region’s
key countries, such as Poland, Czech Republic and Romania, despite
a fiercely competitive environment. The Group’s strong sales growth
in the region was primarily driven by electrical cooking, with the
success of oil-less fryers; floor care, with our renewed versatile
vacuum cleaner ranges; and beverages, with full auto coffee
machines.
In Turkey, the market continued to expand, despite being
significantly impacted by the persistent volatility of the
country’s currency. Group sales were well oriented, particularly in
cookware, floor care and linen care.
Lastly, the Group announced that it had entered a strategic
partnership with the Alesayi Group to strengthen its foothold in
Saudi Arabia and accelerate its sales development in this
high-potential market. The Alesayi Group has an extensive
distribution network that will ensure a strong visibility for the
Group’s products throughout the country.
Sales in €m
H1
2023
H1
2024
Change 2024/2023
As reported
LFL
AMERICAS
North America
South America
458
315
143
517
336
180
+12.8%
+6.9%
+25.9%
+12.9%
+5.6%
+29.1%
NORTH AMERICA
In North America, the Group maintained the growth rate
observed since the second half of 2023, with half-year sales up
5.6% LFL (+6.9% on a reported basis).
In the United States, higher sales in the first half of the year
were largely driven by cookware through its strong complementary
brands – T-Fal, All-Clad and Imusa – confirming the Group’s leading
position in this category, in a declining market. Linen care sales
are fairly stable. Retailers, especially online pure players,
remained cautious about their procurement policy in the first half
of the year.
In Mexico, the Group continued to enjoy strong sales momentum,
with organic sales growth again exceeding 10% for the half-year.
The SDE market remained highly buoyant, and the Group continued to
expand in the country, gaining market shares in its core categories
(cookware and linen care) and successfully launching new ranges of
full auto coffee machines, thus consolidating its leadership
position. Fan sales also contributed to the Group’s excellent
performance in the first half of the year.
SOUTH AMERICA
In South America, sales for the half-year were up 29.1%
LFL (+25.9% on a reported basis, taking into account the impact of
the Argentinian peso), which confirmed the Group’s positive trend
in the region in recent quarters, despite a generally unfavorable
macroeconomic environment. This strong growth was driven most
notably by very high sales of fans caused by the “El Niño” climate
phenomenon.
Sales in Colombia once again rose sharply, driven by the success
of fan sales as well as by a good performance in cookware,
electrical cooking (oil-less fryers) and food preparation
(blenders). The Group strengthened its competitive positions in
this market and is gradually extending its category coverage (full
auto coffee machines and floor care).
In Brazil, the Group turned in a robust performance for the
half-year with organic sales growth of over 20%. These rising sales
reflect the dynamism of demand for fans, but also for other
categories such as beverages (single-serve coffee machines).
Sales in €m
H1
2023
H1
2024
Change 2024/2023
As reported
LFL
ASIA
China
Other countries
1,231
998
232
1,174
957
217
-4.6%
-4.1%
-6.4%
+0.0%
+0.0%
-0.1%
CHINA
Supor sales were stable LFL throughout the first half, as per
the first quarter, and were down 4% after taking into account the
depreciation of the yuan over the period.
In a declining market, this performance reflects the Group’s
continued gains in market shares, driven by ongoing innovation in
its core products. Rice cookers, kettles and electric pressure
cookers, for example, all reported growth over the half-year. This
outperformance applied to both offline networks and e-commerce
(including social media platforms).
At the same time, the Group continued to expand its offering
into new product categories (including outdoor, babycare, small
size household…).
While visibility was reduced overall, in an environment of muted
consumer spending and high promotional intensity, the second half
of the year is expected to be similar to the first, yielding to
stable or slightly growing organic sales for the full year.
OTHER ASIAN COUNTRIES
In other Asian countries, Group sales were fairly flat
LFL in the first half of the year and down 6.4% on a reported
basis, primarily due to the depreciation of the yen over the
period. Performances in the region varied from a country to
another.
In Japan, the persistent weakness of the yen weighed on the
Group’s business, which faces strong competition in its core
categories of cookware and electric pressure cookers. Overall, the
Group maintained its competitive positioning in an environment
where inflation weighs on consumer confidence.
The Group posted a positive performance in South Korea, despite
a similarly sluggish macroeconomic environment. Sales of cookware
and versatile vacuum cleaners were robust, helped by commercial
successes with our distributors.
Fans sales in Vietnam were very strong, giving rise to a
positive performance. The Group also reaped the benefits of its
growing presence among local retailers.
Lastly, in Australia, business grew throughout the half-year,
with a double-digit increase in sales LFL. These favorable results
were evenly spread across all product categories (electrical
cooking, cookware, linen care) and accompanied by numerous new
listings.
COMMENTS ON PROFESSIONAL BUSINESS
Sales in €m
H1
2023
H1
2024
Change 2024/2023
As reported
LFL
Professional
435
495
+13.8%
+10.9%
PROFESSIONAL
Sales in the Professional business totaled €495m for the
half-year, a rise of 10.9% LFL (+13.8% on a reported basis) on a
high comparison basis (+25% LFL in the first half of 2023).
The Coffee business posted a record half-year, driven by China,
which benefited from the large deals phasing. This good dynamic was
also supported through the half-year by solid core business in
Germany. In addition, the Group continued to develop its presence
in new markets, particularly Asia (including Malaysia and Taiwan),
Eastern Europe and Mexico, while extending its offering to new
customer segments, such as tea chains in China.
Given the delivery schedule for large deals in 2023 and 2024
(notably in China and the United States), the base effect, with its
already high comps in the second quarter, will become more
pronounced in the second half of the year.
Lastly, an important milestone was reached during the half-year
with the acquisition of Sofilac2, which expanded our offering and
expertise in the professional culinary segment. In 2023, the
Sofilac Group generated sales of more than €60m in almost 45
countries.
OPERATING RESULT FROM ACTIVITY (ORfA)
In the first half of 2024, ORfA stood at €244m, a
rise of more than 35% from 2023. The figure includes a negative
currency effect of €73m and a positive scope effect of €2m. The
operating margin was 6.5% of sales, versus 5% the previous
year.
The change in ORfA compared with the first half of 2023 can
notably be explained by the following factors:
- a positive volume effect in both Consumer and
Professional;
- a positive mix effect bolstered by innovation in line with our
long-term strategy
- a reduction in cost of sales (FY effect of 2023 lower costs,
additional gains in 2024, better industrial absorption), allowing
to reinvest to support sales momentum;
- increase in growth drivers in line with sales to support
product development and marketing;
- slightly higher commercial expenses, reflecting ongoing dynamic
sales activation; and
- controlled administrative expenses.
It is reminded that the ORfA in the first half of the year is
not representative of the full year, given the seasonal nature of
the Group’s business.
OPERATING PROFIT AND NET PROFIT
At end-June 2024, Group operating profit amounted to
€210m, up 31% from €160m one year earlier. This result includes
a statutory and discretionary employee profit-sharing expense of
about €10m (€11m in the first half of 2023) and other income and
expenses of -€23m (mainly related to the reorganization in Germany
and restructuring costs in Brazil), versus -€9m in the first half
of 2023.
Net financial expense as of 30 June 2024 amounted to -€46m,
versus -€33m for the first half of 2023 in a context of increasing
average cost of Group debt, particularly following refinancings
carried out since the end of 2023.
The tax charge is -€39m, based on an estimated effective tax
rate of 24%, and after minority interests of -€24m. Profit
attributable to owners of the parent therefore totaled €100m in the
first half, compared with €76m at end-June 2023.
FINANCIAL STRUCTURE
As of 30 June 2024, consolidated equity stood at €3,328m,
down €133m versus end-2023, and up €174m versus 30 June 2023.
The Group’s net financial debt was €2,422m (including
€312m of IFRS 16 debt) as of 30 June 2024, up €76m versus 30 June
2023, and up €653m versus 31 December 2023. This increase compared
to end-2023 was primarily due to negative free cash flow of
€215m in the first half of 2024, which should be viewed against
the low point reached by the Group’s operating working capital
requirement at end-2023 (14.6% of sales versus 18.2% as of 30 June
2024). There were also non-recurring disbursements linked to the
Sofilac acquisition, the partnership in Saudi Arabia and the
strengthening of treasury shares.
The Group’s debt ratio (net financial debt/equity) as
of 30 June 2024 was 0.7x, stable compared to the same
date last year. The net financial debt/adjusted EBITDA ratio was
2.3x (2.1x excluding IFRS 16 and M&A), down compared to a
ratio of 2.7x as of 30 June 2023.
OUTLOOK
We anticipate organic sales growth of around 5% for the year. In
a macroeconomic and geopolitical environment characterized by low
visibility, we remain confident in our growth trajectory. In
comparison with 2023, this includes a more balanced growth between
the Consumer and Professional businesses.
The trend in our operating margin over the first half of the
year coupled with our expectations for the second half support our
ambition to achieve an operating margin close to 10% for the full
year 2024.
Groupe SEB’s company and consolidated financial statements as of
30 June 2024 were approved by the Board of Directors meeting held
on 24 July 2024
CONSOLIDATED INCOME STATEMENT
(€ million)
06/30/2024
6 months
06/30/2023
6 months
12/31/2023
12 months
Revenue
3,740.2
3,611.9
8,006.0
Operating expenses
(3,496.4)
(3,431.8)
(7,280.4)
OPERATING RESULT FROM ACTIVITY
243.8
180.1
725.6
Statutory and discretionary employee
profit-sharing
(10.4)
(11,0)
(23.8)
RECURRING OPERATING PROFIT
233.4
169.1
701.8
Other operating income and expense
(23.4)
(8.7)
(34.3)
OPERATING PROFIT
210.0
160.4
667.5
Finance costs
(30.0)
(16.5)
(42.9)
Other financial income and expense
(16.3)
(16.1)
(37.6)
PROFIT BEFORE TAX
163.7
127.8
587.0
Income tax expense
(39.3)
(30.7)
(147.6)
PROFIT FOR THE PERIOD
124.4
97.1
439.4
Non-controlling interests
(24.3)
(21.1)
(53.2)
PROFIT ATTRIBUTABLE TO OWNERS OF THE
PARENT
100.1
76.0
386.2
PROFIT ATTRIBUTABLE TO OWNERS OF THE
PARENT PER SHARE (in units)
Basic earnings per share
1.84
1.38
7.01
Diluted earnings per share
1.83
1.38
6.97
CONSOLIDATED BALANCE SHEET
ASSETS (in € million)
06/30/2024
06/30/2023
12/31/2023
Goodwill
1,865.5
1,757.6
1,868.4
Other intangible assets
1,360.6
1,303.0
1,347.5
Property, plant and equipment
1,216.0
1,295.0
1,292.2
Other investments
348.1
325.3
210.6
Other non-current financial assets
16.5
26.6
16.6
Deferred tax liabilities
199.4
152.0
151.6
Other non-current assets
66.6
66.3
65.5
Long-term derivative instruments -
assets
16.9
18.1
17.9
NON-CURRENT ASSETS
5,089.6
4,943.9
4,970.3
Inventories
1,690.9
1,625.2
1,474.8
Customers
923.4
788.8
1,018.0
Other receivables
173.5
175.8
185.0
Current tax assets
46.8
41.8
36.8
Short-term derivative instruments -
assets
48.2
51.2
40.8
Financial investments and other current
financial assets
38.6
58.3
94.7
Cash and cash equivalents
772.6
828.2
1,432.1
CURRENT ASSETS
3,694.0
3,569.3
4,282.2
TOTAL ASSETS
8,783.6
8,513.2
9,252.5
EQUITY & LIABILITIES (in €
million)
06/30/2024
06/30/2023
12/31/2023
Share capital
55.3
55.3
55.3
Reserves and retained earnings
3,137.1
2,895,0
3,170.8
Treasury stock
(100.0)
(27.7)
(27.7)
Equity attributable to owners of the
parent
3,092.4
2,922.6
3,198.4
Non-controlling interests
235.8
230.9
262.3
CONSOLIDATED SHAREHOLDERS’
EQUITY
3,328.2
3,153.5
3,460.7
Deferred tax liabilities
210.2
181.9
198.6
Employee benefits and other long-term
provisions
195.9
213.3
210.4
Long-term borrowings
1,636.0
1,405.8
1,890.4
Other non-current liabilities
78.9
57.2
58.9
Long-term derivative instruments -
liabilities
16.3
21.4
13.9
NON-CURRENT LIABILITIES
2,137.3
1,879.6
2,372.2
Employee benefits and other short-term
provisions
124.1
105,0
125.3
Suppliers
1,130.0
966.8
1,160.6
Other current liabilities
384.3
447.9
609.8
Current tax liabilities
53.4
45.4
58.8
Short-term derivative instruments -
liabilities
32.3
83.4
65.0
Short-term borrowings
1,594.1
1,831.6
1,400.1
CURRENT LIABILITIES
3,318.2
3,480.1
3,419.6
TOTAL CONSOLIDATED EQUITY AND
LIABILITIES
8,783.6
8,513.2
9,252.5
CASH FLOW STATEMENT
(€ million)
06/30/2024
06/30/2023
PROFIT ATTRIBUTABLE TO OWNERS OF THE
PARENT
100.1
76.0
Depreciation, amortization and impairment
losses
142.3
139.3
Change in provisions
(6.8)
(31.2)
Unrealized gains and losses on financial
instruments
(15.0)
17.4
Income and expenses related to stock
options and bonus shares
11.7
12.6
Gains and losses on disposals of
assets
0.6
1.5
Other
Non-controlling interests
24.3
21.1
Current and deferred taxes
39.3
30.7
Finance costs
30.0
16.5
CASH FLOW (1) (2)
326.5
283.9
Change in inventories and work in
progress
(223.1)
32.6
Change in trade receivables
(88.0)
(50.3)
Change in trade payables
(24.7)
(27.2)
Change in other receivables and
payables
(14.8)
39.4
Income tax paid
(96.2)
(62.3)
Net interest paid
(30.0)
(16.5)
NET CASH FROM OPERATING
ACTIVITIES
(150.3)
199.6
Proceeds from disposals of assets
2.9
1.2
Purchases of property, plant and equipment
(2)
(60.7)
(63.7)
Purchases of software and other intangible
assets (2)
(20.5)
(18.0)
Purchases of financial assets
40.7
33.6
Acquisitions of subsidiaries, net of cash
acquired
(126.9)
(174.2)
NET CASH USED BY INVESTING
ACTIVITIES
(164.5)
(221.1)
Increase in borrowings (2)
1 023.4
782.8
Decrease in borrowings
(1 083.0)
(881.3)
Issue of share capital
Transactions between owners (3)
0.1
(30.7)
Change in treasury stock
(89.0)
(18.9)
Dividends paid, including to
non-controlling interests
(194.2)
(195.3)
NET CASH USED BY FINANCING
ACTIVITIES
(342.7)
(343.4)
Effect of changes in foreign exchange
rates
(2.0)
(43.9)
NET INCREASE (DECREASE) IN CASH AND
CASH EQUIVALENTS
(659.5)
(408.8)
Cash and cash equivalents at beginning of
period
1 432.1
1 237.0
Cash and cash equivalents at end of
period
772.6
828.2
(1) Before net finance costs and income
taxes paid.
(2) Excluding IFRS 16 impact
(3) Including Supor share buyback of 0.1
million euros at end June 2024 (vs. 30.7 million euros at end June
2023 and 62.8 million euros at end December 2023)
APPENDIX
SALES BY REGION – 1ST QUARTER
Sales (€m)
Q1
2023
Q1
2024
Change 2024/2023
As reported
LFL
EMEA
Western Europe
Other EMEA
760
524
236
786
515
271
+3.4%
-1.8%
+14.9%
+8.0%
-3.1%
+32.9%
AMERICAS
North America
South America
212
143
69
246
155
90
+15.8%
+8.8%
+30.3%
+14.0%
+7.7%
+27.1%
ASIA
China
Other countries
640
527
113
603
498
106
-5.8%
-5.6%
-6.8%
+0.5%
+0.5%
+0.7%
TOTAL Consumer
1,613
1,635
+1.4%
+5.8%
Professional
209
258
+23.3%
+18.5%
GROUPE SEB
1,822
1,893
+3.9%
+7.3%
Rounded figures in €m
% calculated on non-rounded figures
SALES BY REGION – 2ND QUARTER
Sales (€m)
Q2
2023
Q2
2024
Change 2024/2023
As reported
LFL
EMEA
Western Europe
Other EMEA
729
505
224
769
515
254
+5.5%
+2.0%
+13.4%
+9.1%
+0.7%
+28.1%
AMERICAS
North America
South America
246
172
74
271
181
90
+10.2%
+5.3%
+21.7%
+12.0%
+3.8%
+31.0%
ASIA
China
Other countries
590
471
119
571
459
112
-3.3%
-2.6%
-6.1%
-0.6%
-0.6%
-0.8%
TOTAL Consumer
1,565
1,611
+2.9%
+5.9%
Professional
226
237
+5.0%
+3.9%
GROUPE SEB
1,790
1,847
+3.2%
+5.6%
Rounded figures in €m
% calculated on non-rounded figures
GLOSSARY
On a like-for-like basis (LFL) – Organic
The amounts and growth rates at constant exchange rates and
consolidation scope in a given year compared with the previous year
are calculated:
- using the average exchange rates of the previous year for the
period in consideration (year, half-year, quarter)
- on the basis of the scope of consolidation of the previous
year.
This calculation is made primarily for sales and Operating
Result from Activity.
Operating Result from Activity (ORfA)
Operating Result from Activity (ORfA) is Groupe SEB’s main
performance indicator. It corresponds to sales minus operating
expenses, i.e. the cost of sales, innovation expenditure (R&D,
strategic marketing and design), advertising, operational marketing
as well as sales and marketing expenses. ORfA does not include
discretionary and non-discretionary profit-sharing or other
non-recurring operating income and expense.
Adjusted EBITDA
Adjusted EBITDA is equal to Operating Result From Activity minus
discretionary and non-discretionary profit-sharing, to which are
added operating depreciation and amortization.
Free cash flow
Free cash flow corresponds to adjusted EBITDA, after accounting
for the change in the operating capital requirement, recurring
investments (CAPEX), taxes and financial expense, as well as other
non-operational items.
Net financial debt
This term refers to all recurring and non-recurring financial
debt minus cash and cash equivalents, as well as derivative
instruments linked to Group financing. It also includes debt from
application of the IFRS 16 standard “Lease contracts” in addition
to short-term investments with no risk of a substantial change in
value but with maturities of over three months.
Loyalty program (LP)
These programs, run by distribution retailers, consist in
offering promotional offers on a product category to loyal
consumers who have made a series of purchases within a short period
of time. These promotional programs allow distributors to boost
footfall in their stores and our consumers to access our products
at preferential prices.
This press release may contain certain forward-looking
statements regarding Groupe SEB’s activity, results and financial
situation. These forecasts are based on assumptions which seem
reasonable at this stage, but which depend on external factors
including trends in commodity prices, exchange rates, the economic
climate, demand in the Group’s large markets and the impact of new
product launches by competitors. As a result of these
uncertainties, Groupe SEB cannot be held liable for potential
variance on its current forecasts, which result from unexpected
events or unforeseeable developments. The factors which could
considerably influence Groupe SEB’s economic and financial result
are presented in the Annual Financial Report and Universal
Registration Document filed with the Autorité des Marchés
Financiers, the French financial markets authority. This document
may contain individually rounded data. The arithmetical
calculations based on rounded data may present some differences
with the aggregates or subtotals reported.
Conference with management on July 24 at
6:00 p.m. CET
Click here to access the webcast live
(in English only)
Replay available on our website on July 24 at
www.groupeseb.com
or CONNECT as from 5:50pm and dial: From
France: +33 (0) 1 7037 7166 – Password: SEB From abroad: +44 (0) 33
0551 0200 – Password: SEB From the United States: +1 786 697 3501 –
Password: SEB
The Q&A session will be accessible via the
webcast (written questions) or the conference call (oral
questions)
Next key dates - 2024
October 24 | after market
closes
9-month 2024 sales and financial
data
December 12 |
ESG Investor Day
Find us on www.groupeseb.com
World reference in small domestic equipment and professional
coffee machines, Groupe SEB operates with a unique portfolio of 40
top brands (including Tefal, Seb, Rowenta, Moulinex, Krups,
Lagostina, All-Clad, WMF, Emsa, Supor), marketed through
multi-format retailing. Selling more than 400 million products a
year, it deploys a long-term strategy focused on innovation,
international development, competitiveness, and client service.
Present in over 150 countries, Groupe SEB generated sales €8
billion in 2023 and has more than 31,000 employees worldwide.
1 On a like-for-like basis (= organic) 2 Sofilac
will be consolidated starting from the third quarter, incorporating
the activity from April 4 to September 30.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240724280387/en/
Investor/Analyst Relations
Groupe SEB Financial Communication and IR
Dept
Raphaël Hoffstetter Guillaume Baron
comfin@groupeseb.com Tel. +33 (0) 4 72 18 16
04
Media Relations
Groupe SEB Corporate Communication Dept
Cathy Pianon Marie Leroy
presse@groupeseb.com
Tel. + 33 (0) 6 33 13 02 00 Tel. + 33 (0) 6 76
98 87 53
Image Sept Caroline Simon Claire
Doligez Isabelle Dunoyer de Segonzac
caroline.simon@image7.fr cdoligez@image7.fr
isegonzac@image7.fr
Phone +33 (0) 1 53 70 74 70
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