Seb Sa · EURONEXT:SK
Seb Sa — Groupe SEB — H1 2024 Earnings Presentation
51 slides from Seb Sa's earnings presentation, Jul 24, 2024
Slide 1: Groupe SEB
GROUPE SEB Ecully | 24 July 2024 ere www.groupeseb.com
Slide 2: Disclaimer
FIRST-HALF 2024 SALES AND RES! DISCLAIMER This presentation ma situation. Uses fore a or unforeseeab d The factors which could co Registration Document and markets authority. 24/07/2024
Slide 3: _ 24/07/2024
_ 24/07/2024
Slide 4: First-half highlights
Slide 5: First-half highlights
Slide 6: H1 sales and Q2 sales
H1 sales Q2 sales Ce A vs €3,612m in 2023 vs €1,790m in 2023 peu, LFL LFL - = 7 A Q2 ORFA = ——— H1 ORFA vs €180m in 2023 vs €115m in 2023 } le 24/07/2024
Slide 7: Sales
Slide 8: Sales (in € million)
Sales (in € million) Organic growth Currency effect Scope effect +6.5% 3.5% +0.6% T Reported growth H1 2023 H1 2024
Slide 9: Currency effect by currency
20 10 -20 -30 -40 -50 Q1:-€75m Q2:-€52m COP MXN CHF PLN GBP MAD CLP CZK KRW UAH EGP JPY ARS RUB CNY TRY Other SEB
Slide 10: First-half sales by business
FIRST-HALF 2024 SALES AND RESULTS First-half sales by business saLes €3,740m +3.6% reported Professional €495m +13.8% +10.9% LFL +6.5% LFL Consumer €3,246m +2.2% +5.9% LFL 24/07/2024 10
Slide 11: First-half 2024 sales and results
hy _ LM, — a i] HALF 2024 SALES AND RESULTS ba — —_— oo i) a - a _—_ = — <a ~*~ a. Cc an —~ :
Slide 12: Professional +3.9% LFL
+3.9% LFL SEB Record half-year for Professional Coffee, driven by China, with Q1 positively affected by large deals phasing High comps in Q2, with a more pronounced impact expected in H2 (large deals in China and USA) Solid core business with WMF in Germany Continued progress in Asia (Malaysia, Taiw
Slide 13: Consumer
FIRST-HALF 2024 SALES AND RESULTS: M3 2
Slide 14: Consumer H1 2024 +5.9% LFL
H1 2024 €3,246m 42.2% +5.9% LFL Q2 2024 €1,611m +2.9% ¥#5.9% LF Organic growth of 6% for the first half 9% organic growth, excluding China, in H1 Performance within the expected trajectory in Europe and the US Stable sales in Asia in a difficult market environment Group market share gains fuelled by
Slide 15: Consumer quarterly organic growth
FIRST-HALF 2024 SALES AND RESULTS Consumer , Fifth consecutive quarter of orga 7.3% 6.6% +7.7% ' a -8.8% Q12022 2.2022 Q3 2022 4.2022 12023 2.2023 Q3 2023 4.2023 Q12024 2.2024 24/07/2024
Slide 16: Consumer - EMEA
FIRST-HALF 2024 SALES AND RESULTS Consumer -EMEA Growth confirmed in Western Europe Excellent performances in Eastern Europe H1 2024 Western Europe: positive trend in SDE* markets €1 55m > Groupe SEB outperforming thanks to its very positive momentum in market-driving categories +8.6% LFL > Organic
Slide 17: North and South America
H1 2024 North America: growth pace maintained €51 7m > Solid performance in the United States driven by cookware, in a declining market 0, +12.9 fo LFL > Continued strong momentum in Mexico and market share gains in fans, full auto coffee machines and linen care South America: another steady increas
Slide 18: China and Other Asian countries
China Other Asian countries H12024 €1,174m +0.0% LFL 232 217 -4.1% -6.4% 0.0% -0.1% China: stable half-year sales in a declining market > Continued market share gains driven by innovation in our core products > Product offering expanded to new categories > Weak consumer environment and high promotio
Slide 19: Good product portfolio momentum
ALES AND RESULTS Good product portfolio momentum Consumer product lines H1 2024 sales vs H1 2023, LFL Personal Electrical Cookware care cooking * Large Kitchen Appliances
Slide 20: Good product portfolio momentum: Cookware
FIRST-HALF 2024 SALES AND RESULTS Good product i. Cookware iN Q2 (excluding LP) In a intone . ihe ' 24/07/2024
Slide 21: Good product portfolio momentum: Oil-less fryers
FIRST-HALF 2024 SALES AND RESULTS ¢ a Good product portfolio momentum Oil-less fryers Roll-out of our new range Continental Europe sales — §#80% inH1 Lh
Slide 22: Good product portfolio momentum: Full auto coffee machines
FIRST-HALF 2024 SALES AND RESULTS q a Good product portfolio momentum Full auto coffee machines Second consecutive semester — "| of sales increasing — >25% in Europe - International expansion Leader in Mexico
Slide 23: 24/07/2024
24/07/2024
Slide 24: Good product portfolio momentum: Garment steamers
FIRST-HALF 2024 SALES AND RESULTS Good product portfolio momentum Garment steamers 24/07/2024
Slide 25: Results and Financial structure
Slide 26: Operating Result from Activity
Operating Result from Activity ORfA margin H12024 €244m +35.4% vs 2023 Ss SEB Q2.2024 €133m +15.8% vs 2023 6.5% +150 bps vs 2023 7.2% +80 bps vs 2023
Slide 27: ORfA bridge in H1 2024
FIRST-HALF 20; ID RESULTS ORfA bridge in H1 2024 In € million Price/mix Volumes
Slide 28: ORfA bridge in H1 2024
ID RESULTS ORfA bridge in H1 2024 In € million fe) Price/mix Cost of sales Volumes Positive volume effect in both Consumer and Professional In line with ourlong-term trend, positive mix effect bolstered by innovation Reduction in cost of sales (FY effect of 2023 lower costs, additional gains in 2024
Slide 29: ORfA bridge in H1 2024
FIRST-Hi D RESULTS ORfA bridge in H1 2024 In € million Increase in growth driversin line with sales, to support product development and marketing Slightly higher commercial expenses, reflecting ongoing dynamic sales activation Controlled administrative expenses
Slide 30: From ORfA to Net profit — First half of the year
FIRST-HALF 2024 SALES AND RESULTS From ORfA to Net profit — First half of the year (in € million) Sales ORfA ORfA margin % Profit attributable to owners of the parent As a % of sales 24/07/2024 30
Slide 31: WCR stable vs. end June 2023
FIRST-HALF 2024 SALES AND RESULTS WCR stable (as a % of sales) vs. ends June 2003 despite Red Sea disruptions H12023 31/12/2023 ‘| H12024 % of % of ; 2 of ie sales oy sales | gales Inventories 1,625 20.7% 1,475 18.4% 1691 | 20.8% Receivables 694 8.8% 794 9.9% sea | 107 Payables -893 -11.4% -1,100 -1
Slide 32: WCR seasonality by semester
4 SALES AND RESULTS WCR seasonality by semester H1 2018 H1 2019 H1 2020 H1 2021 H1 2022 H1 2023 H1 2024
Slide 33: Free cash flow generation in H1
FIRST-HALF 2024 SALES AND RESULTS Free cash flow generation in HI constrained by end-20235 WCR lows... In€ million 125 369 244 a Depreciation, amortization & profit-sharing* Free cash flow H1-24 Adjusted EBITDA H1-24 # Statutory and discretionary employee profit-sharing
Slide 34: Normalized on a LTM basis
FIRST-HALF 2024 SALES AND RESULTS ... Normalized ona In€ million 257 1,046 789 Depreciation, amortization & profit-sharing** Adjusted EBITDA LTM Free cash flow LTM June 2024 *Last Twelve Months ** Statutory and discretionary employee profit-sharing
Slide 35: Change in net financial debt in H1
FIRST-HALF 2024 SALES AND RESULTS Change in net financial debtin H1 In € million -2 Currencies 30/06/2024 * Incl. SEB Alliance ** SEB S.A. and Supor
Slide 36: Change in net financial debt on a LTM basis
FIRST-HALF 2024 SALES AND RESULTS Change in net financial debt on a LTM In € million 2,346 Free cash flow 30/06/2023 24/07/20: *Last Twelve Months ** Incl. SEB Alliance 36 #4 SEB S.A, and Supor
Slide 37: Outlook
Slide 38: Outlook 2024
Slide 39: Appendix
Slide 40: Group sales
Group sales Professional 13% Consumer 87% Consumer sales Other Asia 7% €3,246m +5.9% LFL South America 6% North America 10% SEB
Slide 41: Group sales
Group sales Professional Consumer 13% 87% €1,847m +5.6% LFL Consumer sales Other Asia 7% €1,611m +5.9% LFL South America 6% North America 1% SEB
Slide 42: Sales by region Q1 2024
FIRST-HALF 2024 SALES AND RESULTS Sales by region Q12024 = eizo2e | Asreportes | qizozauet EMEA 43.4% +8.0% Western Europe 524 515, -1.8% -3.1% Other EMEA 236 271 414.9% 432.9% 212 246 +15.8% +14.0% 143, 155 48.8% 47.7% 69 90 430.3% 427.1% ASIA 603 5.8% +0.5% China -5.6% +0.5% Other Asian countries
Slide 43: Sales by region Q2 2024
FIRST-HALF 20; ID RESULTS Sales by region Q2 2024 EMEA } eeaoes on70es 729 769 +5.5% +9.1% Western Europe 505 515 +2.0% +0.7% Other EMEA 224 254 413.4% 428.1% 246 e71 +10.2% +12.0% 172 45.3% 43.8% 74 +21.7% 431.0% ASIA -3.3% -0.6% China -2.6% -0.6% Other Asian countries -6.1% -0.8% 42.9% Professiona
Slide 44: Sales by region H1 2024
FIRST-HALF 2024 SALES AND RESULTS Sales by region H12024 In€ million H12024 As reported 2024 LFL Q2 24 vs 23 LFL EMEA 1,489 1,555 +4.4% +8.6% +9.1% Western Europe 1,029 1,030 +0.1% “1.3% +0.7% Other EMEA 460 525 +14.2% +30.5% +28.1% 458 517 +12.8% +12,9% +12.0% 315 336 +6.9% +5.6% +3.8% 143 180 +25.
Slide 45: Simplified balance sheet
FIRST-HALF 2024 SALES AND RESULTS Simplified balance sheet (in € million) 30/06/2023 | 31/12/2023 Non-current assets Ae) 4,739 Operating WCR 1,427 1,169 Total assets to be financed 6,137 5,908 Shareholders’ equity 3,154 3,461 Long-term provisions 272 293 Other current assets and liabilities 365 386
Slide 46: Breakdown of growth drivers
FIRST-HALF 2024 SALES AND RESULTS Breakdown of growth drivers (in € million) H12023 H12024 Innovation 142 152 Advertising and marketing 205 68 TOTAL GROWTH DRIVERS 397 419 As a % of sales 11.0% 11.2% Chg. vs 2023 LFL 24/07/2024 46
Slide 47: From ORfA to Net profit — First half of the year
FIRST-HALF 2024 SALES AND RESULTS From ORfA to Net profit — First half of the year : ie 7 : 2024 vs ‘ (in € million) 2025 | 2024 2023 ORfA Statutory and discretionary employee profit-sharing Other operating income and expenses Operating profit Net financial expenses Income tax Non-controlling intere
Slide 48: Decline in the leverage ratio on a LTM basis
4 SALES AND RESULTS Decline in the leverage ratio on a LTM basis at end-June 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 -@Net debt/adjusted EBITDA (excl. IFRS 16) —Net debt/adjusted EBITDA At 30 June ona rolling 12-month basis
Slide 49: Glossary
4 SALES AND 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, quarter)
Slide 50: Contacts
FIRST-Hi D RESULTS Contacts Analyst/Investor Relations Media Relations Groupe SEB Groupe SEB Image Sept Financial Communication Corporate Communication and Investor Relations Department Department Caroline Simon Claire Doligez Raphaél Hoffstetter Cathy Pianon Isabelle Dunoyer de Segonzac Guillaume B
Slide 51: Next key dates - 2024
ALES AND RESULTS Agenda Next key dates - 2024 after market closes Nine-month 2024 sales and financial data ESG Investor Day