Groupe SEB sales decreased in the first nine months 2022

Groupe SEB sales decreased in the first nine months 2022

Group SEB reported its financial results for the first nine months of the year, during which sales reached 5,560 million euro, recording a fall of 0.2% (-4.3% like-for-like). «After a year in 2021 that brought our performance to record levels driven by the consumption of Small Domestic Equipment during the Covid pandemic, the Group is holding up well over the first 9 months of 2022 in an unfavorable inflationary environment» – commented Stanislas de Gramont, chief executive officer of Groupe SEB.

«Our professional activities – the CEO added – continue to grow by double digits in most geographies. Our sales are progressing in China where Supor has consolidated its leadership positions in its main categories. However, our Consumer business was penalized in France and Germany by specific issues to these two markets, as well as by the effects of the war in Ukraine. This leads us to revise downwards our sales and margin guidance for 2022 whilst intensifying the cost reduction program implemented in the third quarter

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