Seb Sa · EURONEXT:SK
Seb Sa — Groupe SEB — FY2015 Earnings Presentation
23 slides from Seb Sa's earnings presentation, Jan 19, 2016
Slide 1: Provisional sales 2015
Provisional sales 2015 19 January 2016 AIRBAKE I ALL-CLAD I ARNO I ASIAVINA I CALOR I CLOCK I IMUSA I KRUPS I LAGOSTINA I MAHARAJA. WHITELINE I MIRRO MOULINEX I OBH NORDICA | PANEX I ROCHEDO I ROWENTA I SAMURAI intervenant I SEB I SUPOR I TEFAL I T-FAL I UMCO I WEAREVER
Slide 2: Disclaimer
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 does not give any assura
Slide 3: Provisional sales 2015
Provisional sales 2015 19 January 2016 1. Figures 2. Business review by geography 3. Guidance Provisional Sales 2015 – 19 January 2016 intervenant 3
Slide 4: 1. Figures
1. Figures Provisional Sales 2015 – 19 January 2016 intervenant 4
Slide 5: 2015, an excellent year
2015, an excellent year 4th QUARTER 2015 in €m in €m +9.4% +12.1% Sales 1,529 +7.2% LFL 4,770 +8.0% LFL All regions up, LFL All categories up, LFL Core business + loyalty programmes (LPs) Increased investment in growth drivers LFL = like-for-like % based on non-rounded figures Provisional Sales 2015
Slide 6: 2015 Best sellers
2015 Best sellers Cookware Cookeo & kitchen tools Espresso machines Cooking food processors Fans Kettles Steam Steam Pod generators Vacuum cleaners Rice cookers BeerTender OptiGrill Provisional Sales 2015 – 19 January 2016 6
Slide 7: 2015 revenue by region
2015 revenue by region As 2014/2013 Sales in €m 2014 2015 LFL LFL reported France 700 739 +5.6% +5.6% +5.1% Other W. European 849 970 +14.1% +9.7% +2.8% countries North America 496 599 +20.8% +6.7% +4.0% South America 421 374 -11.2% +3.4% +6.9% Asia-Pacific 1,132 1,453 +28.3% +12.8% +7.9% Central Eu
Slide 8: Q4 2015 revenue by region
Q4 2015 revenue by region As Like-for 2014/2013 Sales in €m 2014 2015 Like-for-like reported -like France 275 281 +2.2% +2.1% +9.2% Other W. European 305 375 +23.0% +15.8% -1.2% countries North America 171 192 +12.4% +3.5% +5.0% South America 128 99 -22.6% -0.8% +11.0% Asia-Pacific 315 380 +20.5% +1
Slide 9: Organic growth in sales, by quarter
Organic growth in sales, by quarter Full year 2013 2014 2015 in % +5.4% +4.6% +8.0% 12 10.0 10 9.4 2013 7.9 7.8 8 2014 7.2 6.2 2015 6 5.1 4.1 4.9 4 3.5 2.7 3.2 2 0 Q1 Q2 Q3 Q4 Provisional Sales 2015 – 19 January 2016 intervenant 9
Slide 10: Analysis of 2015 sales growth
Analysis of 2015 sales growth +28 In €m +149 +340 LFL growth Currency effect Scope (OBH Nordica) 4,770 +8.0% +3.5% +0.6% 4,253 +12.1% 2014 2015 Provisional Sales 2015 – 19 January 2016 intervenant 10
Slide 11: Currency impact on 2015 sales
Currency impact on 2015 sales In €m 150 Q1 : €60m + €149m Q2 : €67m Q3 : €12m 100 Q4 : €10m 50 0 -50 CNY USD GBP KRW JPY VND INR THB CHF EGP SGD CAD TRY UAH COP RUB BRL Provisional Sales 2015 – 19 January 2016 intervenant 11
Slide 12: 2015 sales by region
2015 sales by region Central France Europe, 16% Russia & 16% Others 13% 15% Other Western European countries 20% Asia-Pacific 20% 30% 27% North America South 13% America 12% 8% 2014 figures 10% Provisional Sales 2015 – 19 January 2016 intervenant 12
Slide 13: 2015 sales: top 20 markets
2015 sales: top 20 markets USA 86% of consolidated revenue Colombia JAPAN GERMANY Canada CHINA Belgium BRAZIL UNITED KINGDOM Saudi Arabia Mexico Netherlands Turkey RUSSIA South Korea ITALY SPAIN Poland Czech Republic FRANCE TOP 10 COUNTRIES Based on LFL growth Provisional Sales 2015 – 19 January 201
Slide 14: 2. Business review by geography
2. Business review by geography Provisional Sales 2015 – 19 January 2016 intervenant 14
Slide 15: France
France €m 2014 2015 REPORTED LIKE-FOR-LIKE 2015 sales 700 739 +5.6% +5.6% Q4 sales 275 281 +2.2% +2.1% • Well oriented market both in cookware and SDA • Groupe SEB sales Sound growth driven by: Many products Almost all retailers Core business + LPs Strong marketing and advertising support
Slide 16: Other Western European countries
Other Western European countries €m 2014 2015 REPORTED LIKE-FOR-LIKE 2015 sales 849 970 +14.1% +9.7% Q4 sales 305 375 +23.0% +15.8% • Overall bullish European SDA market. Cookware market softer. • Groupe SEB: robust revenue growth throughout the year • Excellent Q4 in almost all countries Germany:
Slide 17: North America
North America €m 2014 2015 REPORTED LIKE-FOR-LIKE 2015 sales 496 599 +20.8% +6.7% Q4 sales 171 192 +12.4% +3.5% • Steady growth in cookware market, throughout the year. Flattish SDA market. • Group sales: sustained LFL growth overall • USA: good performance in 2015, yet softer in Q4 (+2% LFL) Soli
Slide 18: South America
South America €m 2014 2015 REPORTED LIKE-FOR-LIKE 2015 sales 421 374 -11.2% +3.4% Q4 sales 128 99 -22.6% -0.8% • Significant currency issues (BRL, COP) Reported sales penalized by weaker BRL and COP Impact of price increases taken by the Group on business • Brazil: sustained -yet uncertain- grow
Slide 19: Asia-Pacific
Asia-Pacific €m 2014 2015 REPORTED LIKE-FOR-LIKE 2015 sales 1,132 1,453 +28.3% +12.8% Q4 sales 315 380 +20.5% +11.8% • Sharp positive impact of stronger CNY on reported sales • Robust organic growth throughout the year • China: +17% LFL growth over the year, on average Newly launched value-added p
Slide 20: Central Europe, Russia & other countries
Central Europe, Russia & other countries €m 2014 2015 REPORTED LIKE-FOR-LIKE 2015 sales 655 635 -3.0% +3.9% Q4 sales 204 202 -1.0% +2.1% • Solid LFL growth in H1, resilience in H2 despite contracting markets and high comps for the Group in Q4 2014 Market share gains in most countries • Strong dyna
Slide 21: 3. Guidance
3. Guidance Provisional Sales 2015 – 19 January 2016 intervenant 21
Slide 22: 2015 ORfA guidance confirmed
2015 ORfA guidance confirmed LFL growth in Operating Result from Activity (ORfA) ACTUAL GUIDANCE END OCT. 2013 2014 2015 +7.2% +12.6% significantly > 30% Reported 2015 ORfA expected close to €430m* Net debt at 31.12.2015 significantly below last year * Currency effect on 2015 ORfA estimated at app
Slide 23: Upcoming events
Upcoming events 25/02/2016 06:30 am 2015 Full-Year results 28/04/2016 05:40 pm 2016 First-quarter sales and financial data 19/05/2016 02:30 pm Annual General Shareholders' Meeting Provisional Sales 2015 – 19 January 2016 intervenant 23