Seb Sa · EURONEXT:SK
Seb Sa — Groupe SEB — Q1 2017 Earnings Presentation
26 slides from Seb Sa's earnings presentation, Apr 27, 2017
Slide 1: 2017 First-Quarter Sales and Financial Data
2017 FIRST-QUARTER SALES AND FINANCIAL DATA 27 April 2017 AIRBAKE I ALL-CLAD I ARNO I ASIAVINA I CALOR I CLOCK I EMSA I HEPP I IMUSA I KAISER I KRUPS I LAGOSTINA I MAHARAJA WHITELINE I MIRRO I MOULINEX OBH NORDICA I PANEX I ROCHEDO I ROWENTA I SAMURAI I SCHAERER I SEB I SILIT I SUPOR I TEFAL I T-FAL
Slide 2: Disclaimer
2017 FIRST-QUARTER SALES AND FINANCIAL DATA 27 April 2017 Disclaimer Some of the statements contained in this document may be forward- looking statements concerning Groupe SEB's financial position, results, businesses, strategy or projects. Groupe SEB considers that such statements are based on reas
Slide 3: Agenda
2017 FIRST-QUARTER SALES AND FINANCIAL DATA 27 April 2017 1. Figures 2. Business review by geography 3. 2017 Outlook 4. Appendix 2017 First-Quarter Sales and Financial Data intervenant 3
Slide 4: 1. Figures
2017 FIRST-QUARTER SALES AND FINANCIAL DATA 27 April 2017 1. Figures 2017 First-Quarter Sales and Financial Data intervenant 4
Slide 5: Key figures Q1 2017
Key figures Q1 2017 Revenue €1,527m +37.0% in € +11.5% LFL Operating Result from Activity as reported* LFL €131m €125m +40% +34% Net debt at 31/03 €1,902m - €117m vs year-end 2016 *Including -€10m of first consolidation entries for WMF (ppa) 2017 First-Quarter Sales and Financial Data intervenant 5
Slide 6: Q1 2017 revenue by region
Q1 2017 revenue by region As Q1 2016 Q1 2017 LFL reported EMEA 508 551 +8.5% +4.8% Western Europe 359 390 +8.5% +3.5% Other countries 149 161 +8.6% +7.9% AMERICAS 165 201 +22.0% +12.1% North America 100 123 +23.6% +20.5% South America 65 78 +19.5% -0.9% ASIA 442 501 +13.5% +18.9% China 336 393 +17.2
Slide 7: Organic growth in sales, by quarter
Organic growth in sales, by quarter Full year In % 2014 2015 2016 12 +4.6 % +8.0 % +6.1 % 11.5 10 9.4 7.9 7.8 8 7.2 6.2 6 6.9 6.5 6.0 4 5.1 4.9 2014 4.1 2015 3.2 2 2016 2017 0 Q1 Q2 Q3 Q4 2017 First-Quarter Sales and Financial Data intervenant 7
Slide 8: Analysis of Q1 2017 sales growth
Analysis of Q1 2017 sales growth +275 In €m +9 +128 Organic Currency effect Scope growth and others* +24.7% 1,527 +11.5% + 0.8% 1,115 +37.0% Q1 2016 Q1 2017 * Includes reclassification in China of €23m from marketing spend to sales deduction 2017 First-Quarter Sales and Financial Data intervenant 8
Slide 9: Currency impact on Q1 2017 sales
Currency impact on Q1 2017 sales Groupe SEB excl. WMF: +€9m In €m WMF adds another +€2m currency impact on sales in Q1 12 10 8 6 4 2 0 -2 -4 -6 -8 KRW MXN EGP BRL RUB JPY USD CAD AUD TRY CNY COP GBP 2017 First-Quarter Sales and Financial Data intervenant 9
Slide 10: Q1 2017 sales by region
Q1 2017 sales by region Excluding WMF With WMF 9% 9% 31% Western Europe Other EMEA countries 38% North America 27% 31% South America China Other Asian countries 13% 5% 6% 10% 11% 10% Mature countries: 47% Mature countries: 54% Emerging countries: 53% Emerging countries: 46% 2017 First-Quarter Sales
Slide 11: WMF sales, Q1 2017
WMF sales, Q1 2017 Revenue: €274m, + 7% Professional Business Consumer Business €146m, + 26 % €128m, - 8 % Strong momentum in PCM Cookware business in Germany still New 2016 contracts (Canada, Japan…) negative after 2016 supply chain Core business: ongoing solid growth reorganization in Germ
Slide 12: 2. Business review by geography
2017 FIRST-QUARTER SALES AND FINANCIAL DATA 27 April 2017 2. Business review by geography Groupe SEB, 2016 scope 2017 First-Quarter Sales and Financial Data intervenant 12
Slide 13: Western Europe
Western Europe Reminder Q1 sales / €m 2016 2017 REPORTED LFL LFL 2016 Western Europe 359 390 +8.5% +3.5% +4.3% Small Electrical Appliance market up in Q1 Brisk momentum in vacuum cleaners and electrical cooking Groupe SEB: overall ongoing positive momentum France: almost stable sales, up exc
Slide 14: Other EMEA countries
Other EMEA countries Reminder Q1 sales / €m 2016 2017 REPORTED LFL LFL 2016 Other EMEA countries 149 161 +8.6% +7.9% +7.4% An overall positive backdrop Growing demand in Central Europe, Russia, Turkey… Strong Group dynamic leading to market share gains Sharp rise in revenue in Central Europe
Slide 15: North America
North America Reminder Q1 sales / €m 2016 2017 REPORTED LFL LFL 2016 North America 100 123 +23.6% +20.5% -12.4% Sharp rebound after a dull 2016 USA Still tense retail context Launch of a range of Krups kitchen electrics in mass retail: strong sell-in Double-digit growth (LFL) for All-Clad in
Slide 16: South America
South America Reminder Q1 sales / €m 2016 2017 REPORTED LFL LFL 2016 South America 65 78 +19.5% -0.9% +4.3% Sharp rise in the BRL and COP vs Q1 2016 Reported sales strongly up, yet flattish LFL revenue representing business reality in the field Mixed picture depending on markets Brazil Busin
Slide 17: China
China Reminder Q1 sales / €m 2016 2017 REPORTED LFL LFL 2016 China 336 415 +17.2%* +26.1%** +12.5% Well-oriented small domestic equipment market, driven by e-commerce brisk development Supor outperforming the market thanks to innovation and product dynamic Best-sellers in cookware: pans & sauc
Slide 18: Other Asian countries
Other Asian countries Reminder Q1 sales / €m 2016 2017 REPORTED LFL LFL 2016 Other Asian countries 106 108 +1.7% -3.6% +3.1% Growing revenue in large mature markets… Japan + South Korea = 2/3 of sales Japan: small electrical appliances driving growth Kettles, garment steamers, launch of the
Slide 19: 3. 2017 Outlook
2017 FIRST-QUARTER SALES AND FINANCIAL DATA 27 April 2017 3. 2017 Outlook 2017 First-Quarter Sales and Financial Data intervenant 19
Slide 20: 2017 objectives confirmed
2017 objectives confirmed Q1 not representative of the full year Encouraging start to the year Guidance for 2017 confirmed: Organic sales growth Increase in Operating Result from Activity WMF accretive by > 20% on 2017 EPS • Before the impact of purchase price allocation (in particular,
Slide 21: Appendix
2017 FIRST-QUARTER SALES AND FINANCIAL DATA 27 April 2017 3. Appendix 2017 First-Quarter Sales and Financial Data intervenant 21
Slide 22: 2015-16 quarterly sales
2015-16 quarterly sales 2015 2016 Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY EMEA 483 483 520 858 2 344 508 508 570 910 2 495 l-f-l growth vs. n-1 (%) + 7,9% + 5,2% + 5,7% + 7,5% + 6,7% + 5,3% + 6,0% + 6,9% + 4,8% + 5,6% Reported growth vs. n-1 + 4,5% + 5,4% + 4,2% + 9,5% + 6,4% + 5,2% + 5,0% + 9,6% + 6,0% + 6,4
Slide 23: Glossary
Glossary intervenant 23
Slide 24: Glossary: LFL, ORfA and adjusted EBITDA definitions
On a like-for-like basis (LFL) – Organic The amounts and growth rates at constant exchange rates and consolidation scope in a 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, quarter);
Slide 25: Schedule for upcoming events
Schedule for upcoming events 27/04/2017 5:40 pm 2017 first-quarter sales and financial data 11/05/2017 2:30 pm 2017 Annual General Meeting 26/07/2017 6:30 am 2017 first-half sales and results 23/10/2017 5:40 pm 2017 9 months sales and financial data intervenant 25
Slide 26: Contacts
Contacts Investor/Analyst relations Media relations Groupe SEB Image Sept Financial Communication and IR Caroline Simon Isabelle Posth Claire Doligez Sandrine Boussard Isabelle Dunoyer de Segonzac iposth@groupeseb.com caroline.simon@image7.fr sboussard@groupeseb.com cdoligez@image7.fr isegonzac@imag