Seb Sa · EURONEXT:SK
Seb Sa — Groupe SEB — FY2024 Earnings Presentation
35 slides from Seb Sa's earnings presentation, Jan 23, 2025
Slide 1: Provisional sales 2024
Provisional sales 2024 Ecully | 23 January 2025 Click here to listen to our webcast or find us at www.groupeseb.com
Slide 2: Disclaimer
PROVISIONAL SALES 2024 DISCLAIMER This presentation may contain certain forward-looking statements regarding Groupe SEB’s activity, results and financial situation. These forecasts are based on assumptions which seem reasonable at this stage, but which depend on external factors including trends in
Slide 3: Solid growth over the full year
PROVISIONAL SALES 2024 Solid growth over the full year Annual revenue up by 5% organically, in line with expectations Small Domestic Equipment markets buoyant overall, driven by innovation Steady growth in annual Consumer sales Year of consolidation at high levels in the Professional business Acquis
Slide 4: Sales, Performance by segment and geography, Conclusion, Appendices
PROVISIONAL SALES 2024 01 Sales 02 Performance by segment and geography 03 Conclusion 04 Appendices 4
Slide 5: Sales
PROVISIONAL SALES 2024 Sales 23/01/2025 5
Slide 6: Key figures at end-December 2024
PROVISIONAL SALES 2024 Key figures at end-December 2024 FY sales Q4 sales €8,266m €2,541m +5.0% LFL vs 2023 +3.6% LFL vs 2023 23/01/2025 6
Slide 7: Robust annual performance, in line with expectations
PROVISIONAL SALES 2024 Robust annual performance, in line with expectations Sales (in € million) -205 +65 +400 8,266 8,006 Organic growth Currency effect Scope +5.0% -2.6% +0.8% +3.2% 2023 2024 23/01/2025 7
Slide 8: Currency effect still visible, yet diminishing
PROVISIONAL SALES 2024 Currency effect still visible, yet diminishing 20 10 0 - 10 - 20 - 30 -€205m - 40 Q1: -€75m Q2: -€52m - 50 Q3: -€41m Q4: -€38m - 60 - 70 COP PLN GBP CHF USD CLP CZK KRW MXN UAH JPY BRL EGP RUB ARS CNY TRY Other Others 23/01/2025 8
Slide 9: Performance by segment and geography
PROVISIONAL SALES 2024 Performance by segment and geography 23/01/2025 9
Slide 10: Robust momentum in Consumer, year of consolidation in Professional
PROVISIONAL SALES 2024 Robust momentum in Consumer Year of consolidation in Professional SALES €8,266m +3.2% reported +5.0% LFL Professional Consumer €975m 2024 €7,291m +1.4% +3.5% -4.5% LFL +6.3% LFL €249m Q4 2024 €2,292m -5.9% +3.7% -12.3% LFL +5.5% LFL 23/01/2025 10
Slide 11: Professional: Year of consolidation at high levels
PROVISIONAL SALES 2024 Professional Year of consolidation at high levels FY 2024 Organic decline in 2024, on the back of an exceptional 2023 €975m comparison base (+27% LFL) +1.4% > Second highest year in terms of revenue for Professional Coffee -4.5% LFL > Good level of core business, up by around
Slide 12: Professional: Continued strategic reinforcement in culinary
PROVISIONAL SALES 2024 Professional Continued strategic reinforcement in culinary Sofilac Group – Acquisition completed in April 2024 > High-end professional and semi-professional cooking equipment with the iconic Charvet and Lacanche brands > Revenue of approx. €60m, mainly in the Professional busi
Slide 13: Consumer: Steady growth in 2024
PROVISIONAL SALES 2024 Consumer Steady growth in 2024 FY 2024 Geopolitical & macroeconomic environment still complex €7,291m SDE markets buoyant overall, driven by innovation +3.5% Strong organic growth over the year (+6% LFL / +9% LFL excluding +6.3% LFL China) > Confirmed return to solid growth in
Slide 14: Consumer: Q4 growth again above 5%
PROVISIONAL SALES 2024 Consumer Q4 growth again above 5% Organic sales growth by quarter +7.7% +8.1% +5.5% +5.8% +5.9% +5.5% +5.2% -6.6% -7.3% Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 23/01/2025 14
Slide 15: Consumer – Western Europe: Return to dynamic growth
PROVISIONAL SALES 2024 Consumer – Western Europe Return to dynamic growth FY 2024 €2,531m Solid performance in overall buoyant markets +5.4% > Widespread growth across the region, with sustained sales in France, Southern Europe, Benelux and the Nordic countries +4.8% LFL > Good growth in Cookware an
Slide 16: Consumer – Other EMEA countries: Momentum still very positive
PROVISIONAL SALES 2024 Consumer – Other EMEA countries Momentum still very positive FY 2024 Solid organic growth again exceeding 20% in 2024 €1,202m > Same momentum in Q4, with organic growth of +17% +12.0% > Excellent full-year performance in Eastern Europe, in buoyant markets +22.5% LFL > Successf
Slide 17: Consumer – North America: Solid performance
PROVISIONAL SALES 2024 Consumer – North America Solid performance FY 2024 Outperformance in the United States in a slow market €815m > Consolidation of leadership in cookware and recovery in linen care: innovation driving trade-up +6.3% > New customer listings and range extensions +7.5% LFL Another
Slide 18: Consumer – South America: Double-digit growth
PROVISIONAL SALES 2024 Consumer – South America Double-digit growth on a demanding base effect FY 2024 €354m Consolidation of the Group’s leadership in Colombia +2.6% > Double-digit growth excluding fans +13.5% LFL > Competitive positions strengthened in all categories Positive performance in Brazil
Slide 19: Consumer – China: Outperformance in a still weak market
PROVISIONAL SALES 2024 Consumer – China Outperformance in a still weak market FY 2024 €1,906m -3.1% Supor confirmed leadership in its key culinary categories -1.4% LFL > Further market share gains in 2024 and successful product innovations > Outperformance in a persistently challenging consumer envi
Slide 20: Consumer – Other Asian countries: Return to slight growth
PROVISIONAL SALES 2024 Consumer – Other Asian countries Return to slight growth FY 2024 €483m Improvement in H2, with Q4 up 4% LFL -1.8% > Sales up 2% LFL over the year +2.0% LFL > Solid performance in Australia, Vietnam and Malaysia: market share gains, expansion of the product offering and retail
Slide 21: Widespread growth driven by strong momentum in EMEA and the Americas
PROVISIONAL SALES 2024 Widespread growth driven by strong momentum in EMEA and the Americas... In € million 2023 2024 2024 LFL Q4 24 vs 23 LFL EMEA 3,475 3,733 +10.2% +10.1% AMERICAS 1,113 1,170 +9.4% +4.1% ASIA 2,457 2,388 -0.7% -1.8% TOTAL Consumer 7,045 7,291 +6.3% +5.5% 23/01/2025 21
Slide 22: Visible in all product categories
PROVISIONAL SALES 2024 …visible in all product categories Consumer product lines 2024 sales vs 2023, LFL 14% 12% 10% 8% 6% 4% 2% 0% Electrical LKA* Personal Beverage Cookware Linen Home Food Home -2% cooking care care comfort preparation care *Large Kitchen Appliances 23/01/2025 22
Slide 23: Conclusion
PROVISIONAL SALES 2024 Conclusion 23/01/2025 23
Slide 24: A year of solid and steady growth
PROVISIONAL SALES 2024 A year of solid and steady growth Year-end 2024 in line with expectations, allowing for an organic sales growth of 5% Confirmation of an operating margin close to 10% 2024 ORfA expected to increase by about 10% 23/01/2025 24
Slide 25: Appendices
PROVISIONAL SALES 2024 Appendices 23/01/2025 25
Slide 26: Total 2024 sales by region and business
PROVISIONAL SALES 2024 Total 2024 sales by region and business Group sales Consumer sales Professional Consumer 12% 88% Other Asia Western Europe 7% 35% China 26% €8,266m €7,291m +5.0% LFL +5.5% LFL South America 5% Other EMEA 16% North America 11% 23/01/2025 26
Slide 27: Total sales by region and business Q4
PROVISIONAL SALES 2024 Total sales by region and business Q4 Group sales Consumer sales Professional Consumer 10% 90% Other Asia Western Europe 6% 40% China 23% €2,541m €2,292m +3.6% LFL +5.5% LFL South America 4% Other EMEA 17% North America 10% 23/01/2025 27
Slide 28: Q1 sales by region
PROVISIONAL SALES 2024 Q1 sales by region In € million Q1 2023 Q1 2024 As reported Q1 2024 LFL EMEA 760 786 +3.4% +8.0% Western Europe 524 515 -1.8% -3.1% Other EMEA 236 271 +14.9% +32.9% AMERICAS 212 246 +15.8% +14.0% North America 143 155 +8.8% +7.7% South America 69 90 +30.3% +27.1% ASIA 640 603
Slide 29: Q2 sales by region
PROVISIONAL SALES 2024 Q2 sales by region In € million Q2 2023 Q2 2024 As reported Q2 2024 LFL EMEA 729 769 +5.5% +9.1% Western Europe 505 515 +2.0% +0.7% Other EMEA 224 254 +13.4% +28.1% AMERICAS 246 271 +10.2% +12.0% North America 172 181 +5.3% +3.8% South America 74 90 +21.7% +31.0% ASIA 590 571
Slide 30: Q3 sales by region
PROVISIONAL SALES 2024 Q3 sales by region In € million Q3 2023 Q3 2024 As reported Q3 2024 LFL EMEA 794 892 +12.4% +13.6% Western Europe 533 600 +12.7% +12.6% Other EMEA 261 291 +11.8% +15.8% AMERICAS 320 324 +1.2% +9.8% North America 220 241 +9.2% +13.1% South America 100 83 -16.4% +2.4% ASIA 544 5
Slide 31: Q4 sales by region
PROVISIONAL SALES 2024 Q4 sales by region In € million Q4 2023 Q4 2024 As reported Q4 2024 LFL EMEA 1,192 1,287 +7.9% +10.1% Western Europe 839 901 +7.4% +7.2% Other EMEA 353 386 +9.2% +17.1% AMERICAS 335 329 -1.6% +4.1% North America 232 238 +2.7% +4.9% South America 103 91 -11.3% +2.4% ASIA 682 67
Slide 32: 2024 sales by region
PROVISIONAL SALES 2024 2024 sales by region In € million 2023 2024 As reported 2024 LFL Q4 24 vs 23 LFL EMEA 3,475 3,733 +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% +17.1% AMERICAS 1,113 1,170 +5.1% +9.4% +4.1% North America 767 815 +6.3% +7.
Slide 33: Glossary
PROVISIONAL SALES 2024 Glossary On a like-for-like basis (LFL) – Organic Net financial debt The amounts and growth rates at constant (or organic) exchange rates and This term refers to all recurring and non-recurring financial debt minus cash and cash consolidation scope in a given year compared wit
Slide 34: Key dates 2025
PROVISIONAL SALES 2024 Agenda Key dates – 2025 27 February | before market opens Annual results 2024 24 April | after market closes Q1 2025 sales and financial data 20 May | 14:30 Annual General Meeting 23 July | after market closes H1 2025 sales and results 23 October | after market closes 9-month
Slide 35: Contacts
PROVISIONAL SALES 2024 Contacts Analyst/Investor Relations Media Relations Groupe SEB Groupe SEB Image Sept Financial Communication Corporate Communication Caroline Simon and Investor Relations Department Department Claire Doligez Isabelle Dunoyer de Segonzac Raphaël Hoffstetter Guillaume Baron Cath