Seb Sa · EURONEXT:SK
Seb Sa — Groupe SEB — Q1 2019 Earnings Presentation
25 slides from Seb Sa's earnings presentation, Apr 25, 2019
Slide 1: 2019 First-Quarter Sales and Financial Data
2019 FIRST-QUARTER SALES AND FINANCIAL DATA 25 April 2019
Slide 2: Disclaimer
2019 FIRST-QUARTER SALES AND FINANCIAL DATA 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 assumpt
Slide 3: Contents
CONTENTS 1. Figures 2. Business review by geography 3. 2019 Outlook 4. Appendix 3 25/04/2019 First-quarter sales and financial data
Slide 4: Figures
01 FIGURES
Slide 5: Key figures – Q1 2019
Key figures – Q1 2019 Revenue €1,722m +10.4% +8.5% LFL Operating Result from Activity €138m +12% Net debt at 31/03/2019 €2,214m +€636m vs 31/12/2018 incl. an IFRS 16 impact of €351m and Wilbur Curtis’ acquisition 5 25/04/2019 First-quarter sales and financial data
Slide 6: Revenue growth detailed by business activity
Revenue growth detailed by business activity Revenue €1,722m +10.4% +8.5% LFL Consumer Professional* €1,539m €183m +8.0% +7.0% +36.6% +24.4% LFL LFL *incl. €12m sales of Wilbur Curtis, consolidated over 2 months 6 25/04/2019 First-quarter sales and financial data
Slide 7: Organic sales growth by quarter
Organic sales growth by quarter FY 2016 FY 2017 FY 2018 In % +6.1% +9.2% +7.8% 12 11.5 10 8.6 8.8 8.4 8,5 8.4 8 7.3 7.8 7.4 2016 6.9 2017 6 6.5 6.0 2018 5.1 2019 4 Q1 Q2 Q3 Q4 7 25/04/2019 First-quarter sales and financial data
Slide 8: Analysis of Q1 2019 sales growth
Analysis of Q1 2019 sales growth In €m 1,722 +13 +17 +133 1,559 Organic Currency Scope growth effect +8.5% +0.8% +1.1% +10.4% Q1 2018 Q1 2019 8 25/04/2019 First-quarter sales and financial data
Slide 9: Q1 2019 currency impact on sales
Q1 2019 currency impact on sales: + €13m In €m 12 10 8 6 4 2 0 -2 -4 -6 CNY CHF EGP ARS BRL KRW RUB TRY COP OTHERS JPY USD PLN 9 25/04/2019 First-quarter sales and financial data
Slide 10: Q1 2019 revenue by region
Q1 2019 revenue by region In €m Q1 2018 Q1 2019 As reported LFL EMEA 686 711 +3.7% +4.1% Western Europe 503 519 +3.1% +3.0% Other countries 183 192 +5.4% +6.9% AMERICAS 161 169 +4.9% +4.2% North America 92 103 +11.1% +3.8% South America 69 66 -3.4% +4.8% ASIA 578 659 +14.0% +11.3% China 469 541 +15.
Slide 11: Q1 2019 sales by region
Q1 2019 sales by region Other Asia Emerging countries Mature countries 8% 50% 50% Western Europe 36% China 32% €1,722m +8.5% LFL South America 4% Other EMEA 12% North America 8% 11 25/04/2019 First-quarter sales and financial data
Slide 12: Business review by geography
02 BUSINESS REVIEW BY GEOGRAPHY
Slide 13: Western Europe
Western Europe Reminder Q1 sales / €m 2018 2019 REPORTED LFL LFL 2018 Western Europe 503 519 +3.1% +3.0% +2.2% ▪ LFL growth of 3% driven by firm core business and a higher number of loyalty programs ➔ Subdued by WMF consumer business (mainly in Germany) and end of Nespresso machine sales in Nespress
Slide 14: Other EMEA Countries
Other EMEA Countries Reminder Q1 sales / €m 2018 2019 REPORTED LFL LFL 2018 Other EMEA countries 183 192 +5.4% +6.9% +18.5% ▪ Solid Group performance in light of high comparatives ➔ Despite FX volatility (RUB, TRY…) ➔ Growing core business + Significant Loyalty Programs ➔ Market shares strengthened
Slide 15: North America
North America Reminder Q1 sales / €m 2018 2019 REPORTED LFL LFL 2018 North America 92 103 +11.1% +3.8% -19.8% ▪ Q1 sales growing 3.8% LFL, in a still difficult retail environment ▪ Growth stemming from the 3 region countries ➔ US: solid performance in cookware (all 3 brands) but more difficult in SD
Slide 16: South America
South America Reminder Q1 sales / €m 2018 2019 REPORTED LFL LFL 2018 South America 69 66 -3.4% +4.8% +4.3% ▪ Depreciation of BRL and COP against € vs Q1 2018 ▪ LFL growth driven by Brazil, posting revenue up 8.3% ➔ Brazil: Slightly more positive backdrop in Q1 2019 but extremely competitive and prom
Slide 17: China
China Reminder Q1 sales / €m 2018 2019 REPORTED LFL LFL 2018 China 469 541 +15.5% +13.4% +24.1% ▪ Normalizing performance, as expected, but still a very dynamic Q1: +13.4% LFL ➔ On high comps (Q1 2018) - Consistent with Q4 2018 trend ➔ Supor largely outperforming Chinese market, with e-commerce as a
Slide 18: Other Asian countries
Other Asian countries Reminder Q1 sales / €m 2018 2019 REPORTED LFL LFL 2018 Other Asian countries 109 118 +7.3% +2.5% +2.5% ▪ Overall growing sales but mixed picture ➔ Japan: vigorous business momentum driven by flagship product lines (cookware, kettles…), new categories (Cook4me) and Group Retail
Slide 19: Outlook
+———— OUTLOOK
Slide 20: Guidance for 2019 – Objectives confirmed
Guidance for 2019 – Objectives confirmed ▪ Q1 not representative of full year – nevertheless good start for 2019 ▪ Overall environment still uncertain and volatile, incl. specific challenges in a few countries ▪ Confidence in ability to achieve ongoing solid development in Small Domestic Equipment a
Slide 21: Appendix
SEB APPENDIX 04
Slide 22: IFRS 16 implementation impacts
IFRS 16 implementation impacts GROUPE SEB Impact on: 1,300 contracts Net debt Stores +€351m* at 31 March 2019 Adjusted EBITDA ➔ No cash impact Offices Operating Result from Activity Ware- houses Net result (FY 19) Vehicles * Unaudited figures 22 25/04/2019 First-quarter sales and financial data
Slide 23: Glossary
Glossary On a like-for-like basis (LFL) – Organic Net debt – Net indebtedness The amounts and growth rates at constant exchange rates and consolidation scope in a This term refers to all recurring and non-recurring financial debt minus cash and cash given year compared with the previous year are cal
Slide 24: 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 Anissa Djaadi Raphaël Hoffstetter cpianon@groupeseb.com iposth@groupeseb.com adjaadi@groupeseb.com rhoffstetter@grou
Slide 25: Agenda – Next key dates
Next key dates AGENDA May 22 | 2:30pm 2019 Annual General Meeting July 24 | before market opens H1 2019 sales and results October 29 | after market closes 9-month 2019 sales and financial data 25 25/04/2019 First-quarter sales and financial data