Seb Sa · EURONEXT:SK
Seb Sa — Groupe SEB — FY2019 Earnings Presentation
24 slides from Seb Sa's earnings presentation, Jan 22, 2020
Slide 1: Provisional 2019 Sales
PROVISIONAL 2019 SALES 22 January 2020 Listen to the audiocast (available on January 22 at 9:00 pm), click here
Slide 2: Disclaimer
PROVISIONAL 2019 SALES 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 reasonable assumptions but cannot and d
Slide 3: Contents
CONTENTS 1. Key figures 2. Business review by geography 3. Appendix 3 22/01/2020 Provisional 2019 sales
Slide 4: Key Figures
01 KEY FIGURES
Slide 5: Key figures at December 2019
Key figures at 31 December 2019 Annual Sales Q4 Sales €7,354m €2,240m +8.0% +5.8% LFL +2.5% +0.9% LFL Of which Consumer Of which Professional Of which Consumer Of which Professional €6,555m €799m €2,030m €210m +6.1% +5.2% LFL +25.9% +12.1% LFL +1.1% +0.4% LFL +18.8% +6.3% LFL 5 22/01/2020 Provisiona
Slide 6: Outlook
Outlook ▪ Increase in reported Operating Result from Activity (ORfA) should be between 6.0% and 6.5% in 2019 ▪ Non-recurring expenses in FY-2019 should reach ~80m€ including notably: ▪ Provisions for the restructuring of WMF’s Consumer business ▪ Accounting adjustments at Groupe SEB Deutschland exte
Slide 7: Organic sales growth per quarter
Organic sales growth per quarter Full-year 2017 2018 2019 In % +9.2% +7.8% +5.8% 12 11.5 10 8.6 8.8 8,5 8.4 8 7,7 8.4 8,2 6 7.4 7.3 7.8 4 2.3% 2 exc. PIS COFINS impact 2017 2018 2019 0,9 0 Q1 Q2 Q3 Q4 7 22/01/2020 Provisional 2019 sales
Slide 8: Analysis of sales growth
Analysis of sales growth In €m 7,354 +71 +75 +396 6,812 Organic Scope Currency (Wilbur Curtis growth effect & Krampouz) +5.8% +1.0% +1.2% +8.0% 2018 2019 8 22/01/2020 Provisional 2019 sales
Slide 9: Currency impact on 2019 sales: +€71m
Currency impact on 2019 sales: +€71m In €m 35 30 +€71m 25 Q1: +€13m Q2: +€2m 20 Q3: +€30m Q4: +€25m 15 10 5 0 -5 -10 -15 CNY EGP ARS UAH RUB CHF CAD BRL TRY THB COP MXN OTHERS JPY USD 9 22/01/2020 Provisional 2019 sales
Slide 10: 2019 sales by region
2019 sales by region In €m, unaudited figures As Q4 2019 2018 2019 2019 LFL reported LFL EMEA 3,223 3,339 +3.6% +3.3% -1.1% Western Europe 2,430 2,442 +0.5% +0.3% -4.8% Other countries 793 897 +13.1% +12.4% +10.7% AMERICAS 887 915 +3.2% +2.1% -9.8% North America 547 589 +7.8% +2.9% -3.8% South Ameri
Slide 11: Breakdown of sales by region
Breakdown of sales by region Emerging countries Mature countries Other Asia 45% 55% 8% Western Europe 38% China 25% €7,354m €7,354m +5.8% LFL +5.8% LFL South America 4% Other EMEA 13% North America 12% 11 22/01/2020 Provisional 2019 sales
Slide 12: Business Review by Geography
02 BUSINESS REVIEW BY GEOGRAPHY
Slide 13: Western Europe
Western Europe Reminder Western Europe (€m) 2018 2019 REPORTED LFL LFL 2018 Full-year 2,430 2,442 +0.5% +0.3% +0.4% Q4 sales 894 856 -4.2% -4.8% -0.7% ▪ Slowdown in Q4 mainly related to two countries (France and Germany) ▪ France: sales stable in FY-2019 ➔ Q4 more complicated than expected: negative
Slide 14: Other EMEA countries
Other EMEA countries Other EMEA countries Reminder 2018 2019 REPORTED LFL (€m) LFL 2018 Full-year 793 897 +13.1% +12.4% +12.5% Q4 sales 277 303 +9.5% +10.7% +17.2% ▪ Strong performances over the past five years ▪ Very good year featuring brisk growth in both FY-19 and Q4. Four major pillars : ➔ Prod
Slide 15: North America
North America Reminder North America (€m) 2018 2019 REPORTED LFL LFL 2018 Full-year 547 589 +7.8% +2.9% -4.4% Q4 sales 190 190 -0.5% -3.8% +0.1% ▪ Favorable monetary environment for the three currencies of the region ▪ Improvement in FY-19 growth vs. FY-18 ▪ US: flat FY-19 sales yet Q4 down LFL ➔ St
Slide 16: South America
South America Reminder South America (€m) 2018 2019 REPORTED LFL LFL 2018 Full-year 340 326 -4.3% +0.7% +8.2% Q4 sales 124 95 -23.4% -19.0% +32.4% ▪ Continued depreciation of BRL, ARS and COP ▪ Specific situation in Brazil: sales inflated by the recognition of a tax credit (€32m in Q4-18 and €8m in
Slide 17: China
China Reminder China (€m) 2018 2019 REPORTED LFL LFL 2018 Full-year 1,554 1,762 +13.3% +12.2% +24.3% Q4 sales 362 423 +16.8% +15.4% +17.1% ▪ More moderate GDP growth + impact of trade dispute with the US ▪ Solid sales dynamic on high comps, in line with our expectations ➔ Sustained growth in core bu
Slide 18: Other Asian countries
Other Asian countries Other Asian countries Reminder 2018 2019 REPORTED LFL (€m) LFL 2018 Full-year 513 539 +5.1% +1.2% +0.9% Q4 sales 161 163 +1.1% -2.6% +7.0% ▪ Contrasted performance according to countries ➔ Good year in Japan with sustained organic growth : ▪ As expected, decline in revenue in Q
Slide 19: Professional
Professional PROFESSIONAL Reminder Professional (€m)* 2018 2019 REPORTED LFL LFL 2018 Full-year 635 799 +25.9% +12.1% +14.3% Q4 sales 176 210 +18.8% +6.3% +27.4% ▪ Professional Coffee Machines (PCM) > 90% of Professional Business sales ▪ Professional Coffee Machines: very dynamic year against high c
Slide 20: Appendix
SEB APPENDIX 04
Slide 21: Q4-2019 sales
Q4-2019 sales In €m, unaudited figures As Q4 2019 Q4 2018 Q4 2019 reported LFL EMEA 1,171 1,159 -1.0% -1.1% Western Europe 894 856 -4.2% -4.8% Other countries 277 303 +9.5% +10.7% AMERICAS 314 285 -9.5% -9.8% North America 190 190 -0.5% -3.8% South America 124* 95 -23.4% -19.0% ASIA 523 586 +12.0% +
Slide 22: Glossary
Glossary 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,
Slide 23: Contacts
Investor/Analyst relations Media Relations Groupe SEB Groupe SEB Financial Communication Corporate Communication Dept and Investor Relations Cathy Pianon C O N TA C T S Isabelle Posth cpianon@groupeseb.com Raphaël Hoffstetter Tel: +33 (0) 6 33 13 02 00 iposth@groupeseb.com rhoffstetter@groupeseb.com
Slide 24: 2020 key dates
2020 key dates February 27 | before market opens 2019 sales and results AGENDA April 27 | after market closes Q1 2020 sales and financial data May 19 | 15:00 Annual general meeting July 23 | before market opens H1 2020 sales and results October 26 | after market closes Nine-month 2020 sales and fina