SEB S A : 2023 nine-month sales and financial data
October 26, 2023 at 11:49 am EDT
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Confirmed rebound in business in the third quarter
full-year outlook reiterated
Nine-month sales: €5,532m, +3.9% LFL and -0.5% reported
o Third-quarter sales: €1,920m, +8.9% LFL and +1.4% reported
Nine-month Operating Result from Activity (ORFA): €389m vs €319m in 2022 (+22%)
oThird-quarter ORFA: €209m vs. €120m in 2022 (+74%)
Nine-month ORFA margin: 7% vs. 5.7% in 2022
oThird-quarter ORFA margin: 10.9% vs. 6.3% in 2022
Net debt: €2,278m, down €303m versus 09/30/2022
2023 outlook confirmed:
o Mid-single digit LFL revenue growth
oAt least 10% growth in ORFA
LFL = organic: on a like-for-like basis
Groupe SEB maintains its momentum for a return to historical profitability levels. Our third-quarter performance is fully in line with the rebound trend anticipated at the start of the year, and confirmed in the second quarter, both in terms of sales growth and improved profitability. Our Consumer business delivered solid organic growth in sales, on a par with that of the second quarter, driven by our innovation initiatives across all our regions.
The global small domestic equipment market continued its normalization to underpin this trajectory. Our 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, we confirm our Group objectives for the full year, respectively mid-single digit organic revenue growth and an increase in our Operating Result from Activity of at least 10%.
Stanislas de Gramont, Chief Executive Officer of Groupe SEB
SEB SA published this content on 26 October 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 October 2023 15:48:08 UTC.
The world leader in Small Household Equipment, SEB S.A. relies on 35 flagship brands (Tefal, Seb, Rowenta, Moulinex, Krups, Lagostina, All-Clad, WMF, Emsa, Supor, etc.) and a broad product portfolio:
- cookware: frying pans, saucepans, pressure cookers, utensils, etc.;
- small culinary appliances: items for electric cooking (deep fryers, rice cookers, pressure cookers, etc.), beverage preparation (coffee makers, kettles, etc.) or food preparation (blenders, food processors, etc.);
- small non-culinary household appliances: linen care equipment (irons, steam generators, steamers, steamers, etc.), vacuum cleaners, fans, and personal care equipment (hairdressing and depilation appliances, etc.).
At the end of 2023, the group operated 41 manufacturing sites worldwide.
Net sales are distributed geographically as follows: Western Europe (34.1%), Europe/Middle East/Africa (15.2%), China (27.9%), Asia (7%), North America (10.9%) and South America (4.9%).
SEB S.A. 
