Seb Sa · EURONEXT:SK
Seb Sa — Groupe SEB — FY2024 Earnings Presentation
81 slides from Seb Sa's earnings presentation, Feb 27, 2025
Slide 1: Groupe SEB Annual Results 2024
GROUPE SEB Paris | February 27, 2025 here www.groupeseb.com
Slide 2: Warning
ANNUAL RESULTS 2024 WARNING assumptions which seem reasonable at this stag: which depend on external factors including | commodity prices, exchange rates, the — Asa result of these uncertainties, upe SEB cannot be ~ held liable for potential variance on its current forecasts, which result from un te
Slide 3: Agenda
ANNUAL RESULTS 2024 O1 Introduction. =~. Chee 7 02 Financial highli omer 2 8 a 03 Main operationala 04 Outlook 05.___Appendices= 27102/2025
Slide 4: Introduction
Slide 5: Reinforced positions
Reinforced positi ns ww in Professional'Culinary \ a Versatile vacuum cleaners Made in France | i j 1 New hub in China Professional Coffee 7 New employee share; ownership pl Refurbishment center ISU) a Lib heey li Jsieieaks ESG 2050 strategy & SBTi Net Zero approval 1st panrecycling program 4 =~ SEB
Slide 6: Annual revenue up by 5% organically
Annual revenue up by 5% organically Markets buoyant overall and driven by innovation Steady growth in annual Consumer sales Year of consolidation at high levels in the Professional business Operating Result from Activity up 10%, allowing a return to an operating margin of 9.7% Acquisitions and furth
Slide 7: Key figures
Sales vs €8,006m in 2023 vs €726m in 2023 LFL Net profit, Group share Net financial debt Adjusted* net profit, Group share vs end-2023 Leverage stable at EBITDA Operating margin Dividend , Proposed at AGM of May 20, 2025
Slide 8: Financial highlights
Slide 9: Sales
Slide 10: Robust annual performance, in line with expectations
ANNUAL RESULTS 2024 Robust annual performance, in line with expectations _ | +400 | | -205 | Organic growth Currency effect +5.0% -2.6% 8,006 +3.2% 27/02/2025 10
Slide 11: Currency effects by currency
20 -60 -70 COP PLN GBP Ql: Qe: Q3: Q4: CHF -€75m -€52m -€41m -€38m USD CLP CZK KRW MXN UAH JPY BRL EGP RUB ARS CNY TRY Other SEB
Slide 12: Year of consolidation in Professional
ANNUAL RESULTS 2024 Year of consolidation in Professional Robust momentum.ineGonsumer sALes €8,266M +3.2% reported +5.0% LFL Consumer €7,291m Professional €975m +1.4% -4.5% LFL +3.5% +6.3% LFL 27/02/2025 12
Slide 13: Professional: €975m organic decline in 2024
FY 2024 €975 m Organic decline in 2024, on the back of an exceptional 2023 +1.4% comparison base (+27% LFL) LFL Fewer deliveries under large deals... ... but good level of core business, up by around 7% over the year Continued strategic reinforcement Start of construction for our new hub in China Pr
Slide 14: Consumer: steady growth in 2024
ANNUAL RESULTS 2024 Consumer Steady growth in 2024 FY 2024 €7,291m +3.5% +6.3% LFL Geopolitical and macroeconomic environment still complex Small Domestic Equipment markets buoyant overall, driven by innovation Strong organic growth over the year: +6% / +9% excluding China 27/02/2025 by
Slide 15: Consumer: Q4 growth again above 5%
ANNUAL RESULTS 2024 Consumer O4 growth again above 5% Organic sales growth by quarter 42022 12023 2.2023 Q3 2023 4.2023 12024 Q2 2024 Q3 2024 4.2024 27/02/2025
Slide 16: Solid performance in Western European markets
FY 2024 Solid performance in well-oriented Western European markets Widespread growth with sustained sales in France, Southern Europe, Benelux and the Nordic countries Good growth in Cookware and effective roll-out of innovations in Small Domestic Appliances Organic growth again exceeding 20% in Cen
Slide 17: Growth driven by innovation
Growth driven by innovation 50% Key innovations 30% 20% Small Cookware Domestic Appliances other products other products Breakdown of organic growth across EMEA countries
Slide 18: Americas: +9.4% LFL
FY 2024 €1,170m +5.1% +9.4% LFL Outperformance in the United States in a slow market > Consolidation of leadership in Cookware and recovery in Linen Care: innovation driving trade-up > Newcustomer listings and range extensions Another year of double-digit growth in Mexico > Further market share gain
Slide 19: Improvement in H2 in Asia excluding China
Improvement in H2 in Asia excluding China FY 2024 €2 388m > Sales up 2% LFL over the year a > Solid performance in Australia, Vietnam and Malaysia -2.8% -0.7% LEL > Situation still challenging in Japan and South Korea In China, Supor confirmed leadership in its key culinary categories > Further mark
Slide 20: Groupe SEB
SEB
Slide 21: Widespread growth driven by EMEA and the Americas
ANNUAL RESULTS 2024 Widespread growth | driven by strong momentum in EM EA and the Americas | in€mitiion | | 2028 2024 2024 LFL Q4 24 vs 23 LFL ede EMEA 3,475 3,733 10.2% 10.1% : AMERICAS 113 1,170 E 4.1% ASIA 2,457 2,388 . -1.8% TOTAL Consumer 7,045 7,291 5.5% 27/02/2025 21
Slide 22: Financial highlights
Slide 23: Operating Result from Activity (ORfA)
Operating Result from Activity (ORfA) Operating margin 2024 €802m +10.5% vs 2023 S SEB Q4 €3558m +6.2% vs 2023 9.7% +60bps vs 2023 14.1% +50bps vs 2023
Slide 24: ORfA bridge in 2024
ANNUAL RESULTS 2024 ORfA bridge in 2024 In € million
Slide 25: ORfA bridge in 2024: volumes
ANNU/ ORfA bridge in 2024 Volumes Good volume momentum in Consumer Enriched product mix, driven by innovation Lower cost of sales, enabling price reinvestment to support sales momentum
Slide 26: ORfA bridge in 2024: growth drivers
ORfA bridge in 2024 Growth drivers increase, sustaining growth through enhanced innovation and activation Slightly higher commercial and administrative expenses, combining strengthened commercial actions and stability in administrative expenses Currency effects concentrated on long currencies, large
Slide 27: Breakdown of growth drivers
ANNUAL RESULTS 2024 Breakdown of growth drivers (In € millions) 2023 2024 2024 LFL vs 2023 Innovation 298 $20 Advertising and marketing 556 581 TOTAL GROWTH DRIVERS 854 901 27102/2025 27
Slide 28: From ORfA to Net Profit
ANNUAL RESULTS 2024 From ORfA to Net Profit (In €m) Sales ORfA Operating margin % Net profit, Group share Adjusted net profit, Group share As a % of sales 27/02/2025 * For the provision covering the full amount of the fine imposed by the French Competition Authority (€189.5m) 28
Slide 29: Red Sea, mix and phasing effects on working capital
ANNUAL RESULTS 2024 Red Sea, mix and phasing effects on the — 2023 ; > Since H1, effect of Red Sea disruptions _ Inventories 1,475 18.4% A 19.9% (+1 pt on WCRas a % of sales) A 0 0) > Phasing and country mix effects on Receivables 794 9.9% 10.7% receivables Payables -1,100 -13.7% A -13.8% Net operat
Slide 30: Net operating WCR evolution
ANNUAL RESULTS 2024 Net operating WCR evolution
Slide 31: Free cash flow generation
RESULTS 21 Free cash flow generation In € million Depreciation, amortization & profit-sharing* 2024 adjusted EBITDA * Statutory and discretionary employee profit-sharing
Slide 32: Change in net debt
ANNUAL RESULTS 2024 Change in net debt In€ million 1,769 -6 Ld Currencies Free cash flow 31/12/2023 31/12/2024 * Incl. SEB Alliance ** SEB S.A. and Supor
Slide 33: Leverage stable at 1.8x EBITDA
ANNU/ Leverage stable at 1.8x EBITDA Ratios at 31/12 1.7 @16 Excl. M&A and IFRS 16 0.6 15 16 ” 18 19 20 —™ Net financial debt/ adjusted EBITDA 2l 22 ——Net financial debt/ adjusted EBITDA (excluding IFRS 16)
Slide 34: Strengthened financial structure
ANNUAL RESULTS 2024 In € million 2,525 1,083 Strengthened financial structure and extension of average maturity = New banking facility of €495m | | Other non-cash . items = 12-year private placement of €150m IFRS 16 Cash iV. , debt : . . oogs otherinvestments As of 31/12, €2.5bn in available liquidi
Slide 35: 5-year dividend growth
ESULTS 2 5-year dividend growth € per share * Proposed at AGM of May 20, 2025 2010 201 2012 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 862024 Restated historical data 10% loyalty premium for registered shares held in two consecutive calendar years
Slide 36: Major operational achievements
Slide 37: Annual Results 2024
ANNUALRESULTS 2024
Slide 38: Our mission
ANNUAL RESULTS 2024 Our mission 27/02/2025
Slide 39: A year of growth across all categories
ANNUAL RESULTS 2024 A year of growth across all categories, driven by innovation Consumer product ranges 2024 sales vs 2023, LFL 14% 12% 10% Cookware Personal 8% care y or Linen Electrical care 4% cooking 2% 0% *Large Kitchen Appliances
Slide 40: Linen care, personal care and home care
LINEN CARE, PERSONAL CARE & HOME CARE Strengthen the performance of core range products > Irons and steam generators > 1stvacuuming equipment Support new uses and multi-equipment > Garment steamers > Versatile vacuum cleaners Invest in new territories > Washers > Spot cleaners
Slide 41: Best-seller ranges in new equipment categories
Success of renewed Leadership in popularizing New Best-Seller ranges 20d equipment category \ “he q Ultimate Pro Express. Pro Express Pure Pop Pure Force Aerosteam Spot cleaner Power Pro Ultimate II Vision “Clean It” Growth again close to 10% in 2024, after an already strong increase in 2023 (+10% L
Slide 42: Always at hand and easy to transport
ALWAYS AT HAND & EASY TO TRANSPORT With its lightweight design LARGE REMOVABLE 1.5L DIRTY TANK With wide opening for easy cleaning LARGE REMOVABLE 2.3L CLEAN WATER TANK Its clear markings help you dose perfectly water & detergent for optimal efficiency EFFICIENT & POWERFUL With the strong ANYWHERE 7
Slide 43: Versatiles: #2 position strengthened in Europe
SEB Versatiles: #2 position strengthened in Europe ROWENTA Very wide range, offering “pf and power X-Force Flex range DEIN faa 12.60 13.60/14.80 15.60 FRANCE Organic sales growth excluding China >30% in 2024
Slide 44: Versatile vacuum cleaners and washers
ANNUAL RESULTS 2024 Versatile vacuum cleaners and washers __ Commercial success for a renewed range ~ 7 f > Launched end 2024 New territories ) 27/02/2025 44
Slide 45: Cookware: driving market growth
Driving market growth > Product innovation > Trading-up > Partnerships (Jamie Oliver, Paul Bocuse...) Leadership in multi-materials > Coated aluminum > Ceramic > Stainless steel Accelerating geographic expansion with key innovations > International rollout of Ingenio
Slide 46: Cookware diversification and Ingenio expansion
SEB Diversification of materials Expansion of and trading-up Ingenio Tefal SUPOR Accelerating international rollout... —, ReCeas=eu ... while energizing historical markets... ibe ‘; ... with strong support from online sales Sales growth close to 10%* in 2024
Slide 47: Kitchen electrics
SEB KITCHEN ELECTRICS Innovate in a transversal and differentiating way > Draw on local expertise ona global scale > Diversified cooking methods for healthier eating: steam, infrared, pressure Adapt to changing lifestyles > Homemade, healthy food > Time-, space- and energy-savings > Outdoor and on-t
Slide 48: Kitchen electrics: core business and new uses
SEB Core business New uses Building an attractive and comprehensive range Launches at end of 2024 Terat — Cooking surface Infrared cooking es iL Single Dual drawer Multi-functional Organic sales growth >50% in Continental Europe in 2024
Slide 49: Easy Fry XL Surface
Slide 50: Comprehensive product range in our key markets
Comprehensive product range in our key markets Trading-up with high-speed Blenders Versatility Y' ~ . es | Heating High speed Silent EMEA and Americas: organic growth >10% in 2024 Leverage the momentum for personal blenders On-the-go és Healthy cooking Easy to use and clean
Slide 51: Blend-up
Slide 52: ~
~ ANNUAL RESULTS 2024
Slide 53: Professional business brands
SEB M Full auto coffee schaerer machines 4 In Traditional and Ce filter coffee makers LaSenMarce Cold zummo beverages Tefol Cs ww Cookware and Indirect historical All-Clad ME tableware presence aus iet Food J preparation : my B ans ADE Cooking
Slide 54: World leader in professional coffee
World leader Me schaerer Ce Full auto coffee machines a Traditional and filter coffee makers zummo cold beverages onal Beverages offering base SEB
Slide 55: 2024: developments in Professional Coffee
ANNUAL RESULTS 2024 2024: developments in Professional Coffee * Good performances in our core markets * Strong progress in new territories relying on both our long-standing and new clients
Slide 56: R&D center, purchasing and production facility in China
R&D center, purchasing and production facility Investment of €60m Better product coverage and major strengthening in the Chinese market Delivery in Q3 2025 Start of production in Q1 2026
Slide 57: Professional Culinary
jet (RI, ea AME SADE Cookware and tableware Food preparation Cooking
Slide 58: Acquisition of La Brigade de Buyer
ANNUAL RESULTS 2024 q a Acquisition of La Brigade de Buyer Flagship brands for chefs Strong positions in professional culinary and premium consumer Already established presence in France and internationally Traditional expertise and industrial excellence > €66m sales in 2024, half outside France 290
Slide 59: Professional Culinary expertise
SEB lyfe ECOLE DUCGSSE CORDON BLEU Multi-materials expertise Close relationship with schools and expert knowledge of chefs’ culinary journeys SIR DOR Complementary product offering with the Group on the professional and semi-professional market
Slide 60: Groupe SEB
SEB
Slide 61: Annual Results 2024
ANNUALRESULTS 2024 27/02/2025,
Slide 62: Make consumers' everyday lives easier and more enjoyable
Make consumers’ everyday lives easier and more enjoyable & contribute to better living all around the world G ACT ACT AS ALEADER FOR NATURE IN CIRCULAR a ar: ECONOMY Climate 1) Eco-design Substances ACT RESPONSIBLY & ETHICALLY SEB
Slide 63: Scopes and emission reduction targets
6 Scopes 1 & 2 emission reduction 2x -42% (vs 2021) ACT FOR NATURE Scope 3* emission reduction \ 2 -25% (vs 2021) Water consumption reduction -25% (vs 2021) GD tnctudedin' erm incentives remuneration GA) Inctuded in rt-term incentives remuneration
Slide 64: Key ESG KPIs for 2030 roadmap
ANNUAL RESULTS 2024 Key ESG KPIs for 2030 roadmap ee a ACT FOR ALL Responsible purchasing charter (% of suppliers covered) SUPPLIERS Supplier commitment to an ESG program (representing 80% of the carbon footprint) Quality management CONSUMERS (% of entities with ISO 9001 certification) Occupational
Slide 65: 42% reduction in GHG emissions by 2030
42% reduction in GHG emissions by 2030 - Scopes 1&2 (co2eq,) Reference year -18% —— -42% 2021 2024 Target2030 7E RC ‘| New net-zero trajectory for 2050 approved by the SBTi 25% reductionin GHG emissions by 2030 - Scope 3* (Co2eq.) Reference 13% year -25% 2021 2024 Target 2030 Ww CDP Confirmation of
Slide 66: Act as a leader in circular economy
ANNUAL RESULTS 2024 Act as a leader in circular economy -Act for a 2024 achievements Recycled materials in products and packaging (% of weight) 60% Occupational safety and health (workplace accidents, LTIR) Diversity (% of women in senior positions) 1.1 Target <0.5 2024 data unaudited 27/02/2025 66
Slide 67: Energy management
Energy managemen' France. and China (14 si achines New injectionmolding m (France, a aes Refurbishment center PP iste be 10** charity week (98 sites)
Slide 68: Groupe SEB
SEB
Slide 69: Outlook
Regular and steady growth in Consumer Good momentum of core business in Professional, beyond the calendar effect related to large deals ORfA showing marked increase Uncertain macroeconomic and geopolitical context Seasonality of business concentrating the Group’s results at year end Overall buoyant
Slide 70: Questions
ANNUAL RESULTS 2024 Questions 27102/2025
Slide 71: Appendices
Slide 72: Simplified income statement
ANNUAL RESULTS 2024 (In€ millions) a. 2024 Sales : o oe : ; 8,266 Operating expenses : : \ ; (7,464) i ORfA Discretionary and non-discretionary profit-sharing Other operating income and expense: Operating profit Net financial expenses Profit before tax Income tax expense Non-controlling interests Pr
Slide 73: Simplified cash flow statement
ANNUAL RESULTS 2024 Simplified cash flow statement. (in € millions) ! 2024 NET PROFIT ATTRIBUTABLE TO SEB S.A. : 232.0 Depreciation and amortization expense : Mes | 467.6 Non-controlling interests i ey : 50.7 Variation in WCR items i : (233.6) Other operating items : : 15.8 Net cash from operating a
Slide 74: Simplified balance sheet
ANNUAL RESULTS 2024 Simplified balance sheet _ (In € millions) Tangible fixed assets Operating working capital requirement Total assets to be financed Shareholders’ equity Long-term provisions Other current assets and liabilities Net financial debt Total financing 27/02/2025
Slide 75: Group sales
Group sales Professional Consumer 12% 88% €8,266m +5.0% LFL Consumer sales Other Asia T% China 26% €7,291m 5.5% LFL South America 5% North America 11% SEB
Slide 76: 2024 sales by region
RESULTS 21 2024 sales by region EMEA 3,475 7.4% 10.2% 10.1% Western Europe 2,401 2,531 5.4% 4.8% 7.2% Other EMEA 1,074 1,202 12.0% 22.5% 17.0% 1,113 1,170 5.1% 9.4% 4.1% 767 815 6.3% 7.5% 4.9% 345 354 2.6% 13.5% 2.4% ASIA 2,457 2,388 2.8% -0.7% -1.8% China 1,966 1,906 -3.1% 1.4% -3.4% Other Asian co
Slide 77: Quarterly sales 2024
ANNUAL RESULTS 2024 Quarterly sales 2024 LFL EMEA 1,555 2,447 1,287 10.1% 3,733 10.2% Western Europe 515 515 1,030 600 1,630 901 7.2% 2,531 4.8% Other EMEA 271 254 525 291 816 386 17.1% 1,202 22.5% 246 271 517 324 840 329 4.1% 1,170 9.4% 155, 181 336 241 238 4.9% 815 7.5% 30 30 180 83. 91 2.4% 354 1
Slide 78: 2024 quarterly change in sales, LFL
ANNUAL RESULTS 2024 Vee 2024 quarterly change in sales, LFL Hl a ne Sa ne vie In€ million Q12024 Q2 2024 H12024 Q3 2024 9 months 2024 Q42024 LFL LFL LFL LFL LFL LFL EMEA 8.0% 9.1% 8.6% 13.6% 10.3% 10.1% +10,2% i Western Europe -3.1% 0.7% 1.3% 12.6% 3.5% 7.2% +48% Other EMEA 32.9% 28.1% 30.5% 15.8% 2
Slide 79: Glossary
RESULTS Glossary ‘The amounts and growth rates at constant (or organic) exchange rates and consolidation scope ina 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, quarters) > onthe ba
Slide 80: Contacts
ANNUAL RESULTS 2024 Contacts Analyst/Investor Relations Groupe SEB Financial Communication and Investor Relations Department Raphaél Hoffstetter Guillaume Baron rhoffstetter@groupeseb.com gbaron@groupeseb.com Tel.: +33 (0) 472 18 16 04 comfin@groupeseb.com www.groupeseb.com Media Relations Groupe SE
Slide 81: Agenda: key dates 2025