In Q1 2025, Groupe SEB reported a turnover of €1.906 billion, up 0.7% in published data. CEO Stanislas de Gramont highlighted the company’s alignment with its 2025 growth plan, driven by innovative products and a strong rebound in Asia, especially China.
The Consumer Division led growth with 2.8% organic gains, propelled by launches in key categories like vacuum cleaners and blenders. Sales surged across most markets, with China posting a 3.5% increase as its small domestic equipment market stabilized. Western Europe saw moderate growth, excluding loyalty programs.
The Professional division declined by 21.7% (constant exchange rates), largely due to a high comparison base in China. Despite this, Groupe SEB advanced its strategic initiatives, including a new hub in Shaoxing set to open in 2026, and integrated La Brigade de Buyer into its accounts.
**Outlook:** Groupe SEB reaffirms its 2025 targets, aiming for 5% organic revenue growth and higher operating profit, supported by market resilience, innovations, and improved Professional performance.
Category Archives: Financial
LG Achieves Record-Breaking First-Quarter RevenueWith Growth in Home Appliance
LG Electronics Inc. (LG) today announced consolidated revenue of KRW 22.74 trillion and operating profit of KRW 1.26 trillion for the first quarter of 2025. This marks the highest first-quarter revenue in the company’s history The Home Appliance Solution Company, LG’s flagship business and primary profit generator, also recorded its highest-ever quarterly revenue while maintaining global market leadership. The business is rapidly transforming through innovative models such as subscription services and D2C sales. Meanwhile, the media and entertainment segment demonstrated solid performance, led by continued growth in LG’s webOS-based advertising and content platform.
The LG Home Appliance Solution Company reported first-quarter revenue of KRW 6.70 trillion and operating profit of KRW 644.6 billion. Compared to the same period last year, revenue increased by 9.3 percent, setting a new record, and operating profit grew by 9.9 percent. The Company continues to maintain its market leadership while accelerating the growth of its subscription and D2C sales
China’s ’Home Appliances Queen’ Steps Down
Dong Mingzhu, widely recognized as China’s “home appliances queen,” has been re-elected as chairwoman of Gree Electric Appliances, a position she has held for the past 13 years. However, as part of the company’s efforts to refresh its leadership team, the 71-year-old has stepped down as president.
Gree Electric Appliances, headquartered in Zhuhai, announced yesterday that Dong will continue to serve as chairwoman for her fifth three-year term, while Zhang Wei, aged 49, will take over as the firm’s new president.
Having started her journey at Gree as a sales representative, Dong has dedicated 35 years to the company, rising to the role of president in 2007 and chairwoman in 2012. Under her guidance, Gree has evolved from a manufacturer of air conditioners into a diversified conglomerate with ventures in smart equipment, industrial robotics, and new energy sectors. The company now boasts annual revenues exceeding CNY200 billion (USD27.4 billion)
Gazprom shifts gears: From gas exports to home appliances
Gazprom, the Russian gas giant, is planning to produce washing machines and refrigerators at the former Bosch plant near St. Petersburg. This move comes as a response to the decline in gas exports to Europe and the absence of a new contract with China. Production is expected to commence later this year
BSH increases turnover to 15.3 billion euros in 2024
BSH Hausgeräte GmbH achieved a turnover of 15.3 billion euros in fiscal year 2024 and recorded a year-over-year growth of 3%, 7.5% after adjustment for exchange rate effects. Europe’s leading home appliance manufacturer thus successfully held its own in a challenging market environment, thanks especially to positive developments in the growth markets of North America and the Emerging Markets. “Our strength lies in the combination of strong brands, outstanding product experiences, pioneering innovations, and reliable quality. It is precisely this that delights our consumers – and it forms the basis for our long-term success,” emphasizes CEO Dr. Matthias Metz
LG results
LG today announced its preliminary earnings results for the first-quarter of 2025, reporting a consolidated revenue of KRW 22.7 trillion and operating profit of KRW 1.3 trillion. This marks the first time LG’s first-quarter revenue has exceeded KRW 22 trillion the home appliance solution business, LG’s premium products maintained strong leadership in the global market. The built-in appliance business – a B2B segment – alongside key component sales such as motors and compressors, also contributed meaningfully to the performance.
The company’s subscription business, which combines hardware and services, is rapidly expanding. In 2025, LG plans to further strengthen its subscription-ready product lineup and customer care services, while also accelerating the global rollout of its subscription model.
Midea results
Midea Group a global leader in smart home appliances and commercial & industrial solutions, today we announced record-breaking 2024 annual results, with revenue reaching RMB 409.1 billion (up 9.5% YoY). Net profit attributable to shareholders surged 14.3% to RMB 38.5 billion, while operating cash flow hit a historic high of RMB 60.5 billion, underscoring strong operational efficiency.
Electrolux General meeting
Annual General Meeting of AB Electrolux was held in Stockholm on March 26, 2025.
Shareholders and others had the opportunity to follow the Annual General Meeting live via Electrolux Group’s website. A recording from the Annual General Meeting of the reflections by President and CEO, Yannick Fierling, on the past year, and the strategy going forward will be available on Electrolux Group’s website, www.electroluxgroup.com/agm2025.pp
Frasers Group raises AO World stake
Frasers Group has raised its stake in online electricals retailer AO World to 25.01%, up from 24.02%, according to a recent regulatory filing.
This move strengthens the Sports Direct owner’s position as the second-largest shareholder in the business, following the retailer’s positive trading update this week.
AO World raised its full-year profit forecast, with adjusted pre-tax profits expected to be between £39m and £44m for the year ending March 31, 2025
Xiaomi sales increase
Xiaomi Corporation posted a record 2024, with a growth of 35.0% and total revenue of RMB 365.9 billion (€47.6 billion). Adjusted net profit increased by 41.3% YoY to RMB 27.2 billion (€3.5 billion)
Large-scale smart appliances saw a 56.4% YoY increase, with record shipments:
Air conditioners: +50% YoY (over 6.8 million units)
Refrigerators: +30% YoY (over 2.7 million units)
Washing machines: +45% YoY (over 1.9 million units)
