Groupe Seb published its 2024 annual results, which demonstrate sustained commercial momentum and an improvement in its profitability in a still uncertain economic context. Its turnover reached €8.266 billion and shows an increase of 3.2% in published data and 5% at constant exchange rates and scope.
This performance was mainly driven by the Consumer business , with organic growth of 6% (+9% excluding China). The Group thus returned to solid growth in Western Europe and North America, while Eastern Europe and South America continued their double-digit growth. For its part, the Professional business experienced a year of consolidation after strong performances in 2023. Although its sales fell by 4.5%, 2024 represents the second best year in history in terms of revenue for coffee. ” 2024 was also marked by major strategic advances: the launch of a hub in China for Professional Coffee and the strengthening of our expertise in Professional Culinary with the acquisition of the Sofilac Group ,” said Stanislas de Gramont , CEO.
At the same time, operating profit from activity (ROPA) increased by 10.5% to reach €802 million. The operating margin thus improved to 9.7% of sales, compared to 9.1% in 2023. This increase is explained by a positive volume effect and a decrease in the cost of sales, which more than offset the commercial and marketing investments made to support growth.
Tag Archives: Tefal
Groupe SEB: Consumer sales recover
After the difficult phase, Groupe SEB resumes growth by 5% in 2024, drawing satisfaction from the sales of Tefal, Moulinex, Krups, Rowenta, Lagostina, Emsa and Wmf also in Western Europe. Little satisfaction from the professional segment, which increases by only 1.4% and does not exceed one billion euros despite the investments of the management.The Professional area in which the group had invested by acquiring the brands La San Marco, Pacojet, Forge Adour and Sofilace and which had driven sales and profits in the difficult years perhaps disappointed with an increase of only 1.4% just under one billion euros (but the operating margin increased by 10%).
Seb group posts sales at +7.3% in the first quarter
The small household appliances market is doing better than that of large household appliances and the figures published by Groupe Seb confirm this trend. The French leader announces sales of €1,893 million for the first quarter of 2024, an organic increase of 7.3the first quarter, Groupe Seb achieved sales of €1,893 million, an organic* increase of 7.3% and 3.9% based on published data. The currency effect remains penalizing over these first 3 months with a negative impact of €75 million, or -4% of sales, but this trend should ease over the months. The scope effect has a positive impact of 0.7% or €13 million. The latter includes the consolidation of La San Marco, Pacojet and Forge Adour.
Groupe SEB shows new products
Groupe Seb needed a spacious Parisian space to present its new 2024 products, as varied as they are surprising for their innovative and eco-responsible character. The main representatives, the product managers of each brand ( Krups , Moulinex , Tefal , Lagostina , Calor , Rowenta , etc.) and the chefs hosted this event highlighting flagship products such as the Cookeo , the Easyfry and the Companion of Moulinex which is celebrating its 10th anniversary. A real success, demonstrating the innovative strength of Groupe Seb.
This goes hand in hand with its good results for the 1st quarter , where sales reached €1,893 million (+7.3%). “The year 2024 is starting in line with our expectations, with robust organic sales growth, once again exceeding 5% this quarter ,” says Stanislas de Gramont , Managing Director. In a recovering consumer environment, the Small Household Equipment market remained resilient, with Consumer Sales outperforming (+5.8%).
Culinary preparation is on the rise
A segment in which strong growth is occurring, Air Fryers have not escaped the iconic Moulinex brand . Through different formats (4.2L; 6.5L; 8.3L), the Easy Fry offers many functions: synchronized cooking which allows you to make several recipes, Easy Fry & Grill technology acting as a fryer and grill and , for the largest format, double cooking. For pizza lovers, the brand presented a device similar to the others, but with a real difference: its pizza format, with wider cooking plates.
On the smart kitchen side, new versions of Cookeo are emerging. The Cookeo 9-in-1 and 10-in-1, with a more modern design and a more pleasant color interface, are equipped with new cooking modes: yogurt, slow cooking, and sous-vide. With, for the latest model, an additional program: “dough rising”. Finally, the Cookeo Mini Eco Design has been designed in a more compact format, with 50% recycled material. In addition, it can save up to 82% energy compared to conventional cooking. Another feat of the group on robots: Moulinex’s I-Coach Touch appears in 2nd position in the ranking established by UFC Que Choisir .
Finally, the 10th anniversary of the Campanion de Moulinex will be marked by a major promotional event. For one month, from May 14 to June 14, consumers will have access to the “buy one, get one free (€1)” offer.
Made in France and relaunch of the Calor brand, for floor maintenance and beauty
Rowenta , the group’s flagship floor care brand, highlighted Made in France and eco -design . Notably through its first X -Force Flex stick vacuum cleaner made in Normandy, which was previously made in China, and the Green Force Cyclonic Max canister vacuum cleaner made from recycled materials.
Finally, the beauty segment revalued the Calor brand, which is making a comeback with the new compact and lightweight Maestria Nano hairdryer , with three temperature levels, and Reverso , a 2-in-1 blow-drying brush.
Groupe SEB Results
Groupe SEB maintains its momentum for a return to historical profitability levels. Consumer business delivered solid organic growth in sales, on par with that of the second quarter, driven by innovation initiatives across all our regions. The Professional business posts very good results thanks to record sales in coffee. The Group enjoyed a number of commercial successes in 2023 with, in particular, the roll-out of major contracts, as well as a solid core business. Hence, they confirm the Group objectives for the full year, respectively mid-single digit organic revenue growth and an increase in Operating Result from Activity of at least 10%.” Stanislas de Gramont , Chief Executive Officer of Groupe
Groupe SEB new logistics hub
Groupe SEB will open a new 100,000 m² logistics platform, within the Alouette business park in Bully-Les-Mines (France), investing 80 million euro. Operated by FM Logistic, long-standing partner of the Group, this platform will enable the creation of 350 jobs between 2023 and 2025, with the ambition of reaching a staff of 500 people by 2030.
Tefal recycling kiosks
A pioneer in in-store recycling operations for the past 10 years, Tefal has joined a multi-brand partnership to set up a recycling kiosk in the parking lots of several Carrefour stores in France. The first of its kind in Europe, this kiosk meets the dual challenge of the environment and purchasing power.
Moulinex Tefal breakfast set
Groupe SEB launches its first premium Moulinex-Tefal breakfast set, Majestuo
Composed of a kettle , a coffee maker and a toaster with a stainless steel design with glossy finishes, this breakfast set offers a whole series of innovations
An intuitive interface that transmits key information (water temperature, remaining grill time)
New functions (Program & Keep warm) to enjoy your drinks at any time
Easy to clean steel & stainless steel coating that leaves no fingerprints
Groupe Seb soars on the Stock Exchange
With a leap of 7%, the Paris Stock Exchange greeted Groupe SEB’s financial statements yesterday. Sales (7.96 billion) are only 1.2% lower than those of the record year 2021 and up 8.2% on 2019. The fourth quarter closed with revenues down by 3, 6% to 2.4 billion. In both cases the trend is higher than analysts’ expectations, as reported by Radioco.
The Seb group owns 32 brands, including Tefal, Seb, Rowenta, Moulinex, Krups, Lagostina, Wmf, Emsa and Supor. It is present in 150 countries and has over 33,000 employees.
After a record 2021, Seb group sales delivered a resilient performance in 2022. The group’s business held up well in most of the geographic areas in which it operates and the fourth quarter marked a slightly more favorable trend’” , commented the CEO Stanislas de Gramont , recalling that“from the second quarter the ‘Consumer’ activity (-2.6% to 7.2 billion) is influenced by the impact of the war in Ukraine and by issues specific to some markets’, in particular France (-22%) and Germany (-13%), ‘but it recorded a satisfactory performance in other countries, including China’. The ‘Professional’ hub (+15.6% to 725 million) recorded ‘a strong dynamic throughout the year and continues to be an important growth lever for the entire group ‘. Seb ‘confirms the operating margin target for 2022 and estimates that it will be in the high end of the range between 7% and 7.5%’.
Groupe SEB releases its 2022 Half-year Sales and Results.
First-half sales: €3,666m; +1.6%, -2.3% LFL*
Second quarter sales: €1,750m; -0.4%, -5.1% LFL*
First-half Operating Result from Activity (ORFA): €199m, -€121m vs 2021
Second quarter ORFA: €59m; -€63m vs 2021
Profit attributable to owners of the parent: €72m, -€79m vs 2021
Net financial debt at June 30, 2022: €2,447m, up €597m vs June 30, 2021 (inventory building to address supply chain tensions)
Full-year assumptions revised:
Overall stable 2022 sales vs 2021
Operating margin from activity in the range of 8% to 8.5%
* LFL: like-for-like (at constant exchange rates and scope) – Changes vs 2021.
2022 started in a favorable environment, which deteriorated in the second quarter, with the war ongoing in Ukraine, currency volatility and the acceleration in inflation.
Sales were resilient, driven by an excellent performance in China and by the solid momentum in the Professional business. As in 2021, the Group absorbs the impact of headwinds while the operating profitability is temporarily hit by the combined effect of the slowdown in second-quarter business in Europe and the continuation of investments already undertaken.
We keep on fueling our growth pillars: China, where we will exceed €2bn revenue this year, with great development prospects ahead; the Professional activity which is paving the way for new buoyant and profitable markets; innovation and digitization, which represent fundamentals in our businesses.
We do not expect any significant improvement in the economic situation before year-end in mature countries. This leads us to target for the full year overall stable sales and an operating margin in the range of 8% to 8.5%.
I know I can count on the commitment and agility of our teams throughout the world to pursue our strategy of profitable growth.
Stanislas DE GRAMONT, Chief Executive Officer of Groupe SEB
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