Seb Sa · EURONEXT:SK
Seb Sa — Groupe SEB — FY2021 Earnings Presentation
43 slides from Seb Sa's earnings presentation, Jan 25, 2022
Slide 1: Provisional 2021 Sales
PROVISIONAL 2021 SALES January 25, 2022 Listen to the live webcast click here
Slide 2: Disclaimer
Provisional 2021 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. Introduction: 2021 at a glance 2. 2021 performance highlights 3. Focus on business divisions 4. Review by geography 5. Key takeaways 6. Appendix
Slide 4: Introduction: 2021 at a glance
01 INTRODUCTION: 2021 AT A GLANCE
Slide 5: 2021: record sales, above €8bn; +16%
2021: record sales, above €8bn; +16% 8,059 7,354 6,812 6,940 6,485 ▪ € 8,059m: record-high full-year sales ▪ Remarkable performance considering the tense supply chain environment FY-2017 FY-2018 FY-2019 FY-2020 FY-2021 YoY sales change ▪ 2021 sales 16% above atypical 2020 (15.5% LFL) 11,1% ▪ 2021 sa
Slide 6: 2021: record growth, above €1bn fueled by several key pillars
2021: record growth, above €1bn fueled by several key pillars In €m 8,059 +40 +59 +59 +167 Currency Professional & +175 Other Scope Asia Americas +260 China +359 Other 6,940 EMEA Western Europe +1,119m FY 2020 FY 2021 6 25/02/2022 Provisional 2021 sales
Slide 7: 2021 Performance Highlights
02 2021 PERFORMANCE HIGHLIGHTS
Slide 8: Key figures at December 2021
Key figures at 31 December 2021 FY Sales : €8,059m Q4 Sales : €2,488m +16.1% +15.5% LFL +11.7% +8.8% LFL 8 25/02/2022 Provisional 2021 sales
Slide 9: Analysis of sales growth 2020 to 2021
Analysis of sales growth 2020 ➔ 2021 In €m 8,059 +1,079 - 22 +62 6,940 Organic Currency Scope growth effect +15.5% -0.3% +0,9% +16.1% FY 2020 FY 2021 9 25/02/2022 Provisional 2021 sales
Slide 10: Currency impact on 2021 sales
Currency impact on 2021 sales : - €22m In €m - €22m 60 Q1: - €81m 50 Q2: - €44m 40 Q3: + €38m Q4: + €65m 30 20 10 0 -10 -20 EGP CNY CAD CZK AUD CHF THB ARS BRL RUB JPY TRY OTHER GBP MXN PLN COP USD 10 25/02/2022 Provisional 2021 sales
Slide 11: 2021 sales by geography
2021 sales by geography Unaudited figures In €m Q4 2021 2020 2021 As reported 2021 LFL LFL EMEA 3,307 3,892 +17.7% +18.7% +7.6% Western Europe 2,406 2,770 +15.2% +14.9% +5.5% Other countries 901 1,121 +24.5% +28.9% +13.5% AMERICAS 876 1,082 +23.5% +19.1% +2.5% North America 622 788 +26.6% +18.0% +11
Slide 12: Focus on Business Divisions
03 FOCUS ON BUSINESS DIVISIONS
Slide 13: Professional: back to positive dynamics
Professional: back to positive dynamics Annual sales €628m +9.2% +10.2% LFL -21.8% vs 2019 as reported Q4 €172m +17.2% +14.4% LFL -19.5% vs 2019 as reported 13 25/02/2022 Provisional 2021 sales
Slide 14: Professional: back to positive dynamics
Professional: back to positive dynamics ▪ Confirmed upturn in PCM revenue as from Q2 • Core business improving with innovation and constant expansion of the customer portfolio • Deals as additional catalysts ▪ Very strong Q4 (+14.4% LFL) • Fueled by the entire EMEA region and North America * Profess
Slide 15: Consumer: record and quality sales
Consumer: record and quality sales Annual sales €7,431m +16.7% +16.0% LFL +13.4% vs 2019 as reported Q4 €2,316m +11.3% +8.4% LFL +14.3% vs 2019 as reported ➔ Better than anticipated Q4 15 25/02/2022 Provisional 2021 sales
Slide 16: Consumer: record and quality sales
Consumer: record and quality sales ▪ Strong momentum over the year fueled by: • Ongoing buoyant demand • All geographies and categories* • E-commerce as a strong catalyst ▪ Quality sales/less promotional environment ▪ Significantly higher growth driver spendings ▪ Price increases to help offset head
Slide 17: Consumer product lines: 2021 sales change vs 2020, LFL
Consumer product lines: 2021 sales change vs 2020, LFL 40% 35% 30% Home care 25% 20% LKA* 15% Electrical cooking 10% Beverage Personal Cookware care 5% Food preparation 0% Linen care -5% Home comfort -10% *LKA = Large Kitchen Appliances 17 25/02/2022 Provisional 2021 sales
Slide 18: All top-20 countries growing LFL in FY 2021 - Consumer
ALL top-20 countries growing LFL in FY 2021- Consumer EMEA +18.7% AMERICAS +19.1% ASIA +10.7% Turkey Ukraine Netherlands Colombia Mexico > 20% Poland RUSSIA ITALY FRANCE USA > 10% CHINA JAPON Belgium GERMANY SPAIN > 0% BRAZIL Canada SOUTH KOREA United Kingdom Austria 18 25/02/2022 Provisional 2021 s
Slide 19: Review by Geography (Consumer)
04 REVIEW BY GEOGRAPHY (CONSUMER)
Slide 20: Western Europe: record sales
Western Europe: record sales ~ €2.8bn, up 15% LFL vs 2020 2,770 856 876 928 2,442 2,406 +14.9% +5.5% LFL LFL FY-2019 FY-2020 FY-2021 Q4-2019 Q4-2020 Q4-2021 ▪ Growth vs 2019: 13% as reported ▪ Strong momentum in overall buoyant markets • Broad-based: countries, product lines, distribution channels -
Slide 21: Great dynamics in France, our 2nd largest market
Great dynamics in France, our 2nd largest market c. €940m sales, +19% vs 2020, +20% vs 2019 Ongoing outstanding performance in home cleaning Market share > 20%, +1.1pt 21 25/02/2022 Provisional 2021 sales
Slide 22: Great dynamics in Germany, our 3rd market
Great dynamics in Germany, our 3rd market €800m sales +13% vs 2020, +11% vs 2019 Continued market share gains in cookware (Tefal / WMF) 22 25/02/2022 Provisional 2021 sales
Slide 23: Other EMEA: continued success story
Other EMEA: continued success story Sales > €1.1bn, up 29% LFL vs 2020 1,121 367 303 313 897 901 +28.9% +13.5% LFL LFL FY-2019 FY-2020 FY-2021 Q4-2019 Q4-2020 Q4-2021 ▪ Vigorous growth throughout the year, driven by favorable demand • Widespread growth fueled by all markets • Best-sellers: home clea
Slide 24: Central Europe: a confirmed major growth pillar
Central Europe: a confirmed major growth pillar Changer photo Backup Central Europe Sales > €500m vs €300m in 2018 Market share gains in every country 24 25/02/2022 Provisional 2021 sales
Slide 25: North America: excellent performance
North America: excellent performance Sales of ~€0.8bn, up 27% 788 238 206 589 622 190 +18.0% +11.8% LFL LFL FY-2019 FY-2020 FY-2021 Q4-2019 Q4-2020 Q4-2021 ▪ 27% vs 2020, of which 18% organic • Including StoreBound’s full-year integration impact (+7 months vs 2020) • Sales up 34% vs 2019 ▪ US: very
Slide 26: USA: a fantastic year for All-Clad
USA: a fantastic year for All-Clad Sales +40% vs 2020 +150% in 10 years #1 high-end Cookware brand 26 25/02/2022 Provisional 2021 sales
Slide 27: South America: higher sales vs 2020
South America: higher sales vs 2020 Yet, a mixed picture 326 95 293 254 86 +22.0% 71 LFL -19.8% LFL FY-2019 FY-2020 FY-2021 Q4-2019 Q4-2020 Q4-2021 ▪ Moderately negative FX impacts over the year ▪ Colombia: sales up 35% LFL, reflecting both market and Group dynamics • All channels fueling the growth
Slide 28: Continued robust momentum in Colombia
Continued robust momentum in Colombia Sales > €100m in 2021 +23% vs 2019 27 Imusa H&C stores (+4 vs 2020) Sales growth ~ 35% 28 25/02/2022 Provisional 2021 sales
Slide 29: China: a winning combo
China: a winning combo Strong profitable growth and market share gains 1,762 1,860 1,626 430 532 423 +10.7% +14.5% LFL LFL FY-2019 FY-2020 FY-2021 Q4-2019 Q4-2020 Q4-2021 ▪ Excellent performance: ~ €1,9bn full-year sales, +10.7% vs 2020, LFL • Sales up 5.6% vs 2019 ▪ Market share gains, consolidated
Slide 30: Supor strongly outperforming competition
Supor strongly outperforming competition Market share gains ~ +2pts in Cookware and Kitchen Electrics Great 11/11 results Rmb1.7bn sales ~ €230m +15% vs 2020 #1 for cookware* #1 for KE** 30 25/02/2022 Provisional 2021 sales * Tmall, JD, Pinduoduo ** Tmall, Tiktok, Kuaishou
Slide 31: Other Asia: a great year overall
Other Asia: a great year overall Sales of ~ €0.6bn, up almost 11% LFL 181 598 163 170 539 556 +10.6% +8.1% LFL LFL FY-2019 FY-2020 FY2021 Q4-2019 Q4-2020 Q4-2021 ▪ Excellent overall performance • Double-digit organic growth over the year in almost all countries ▪ Japan: ongoing solid growth pace nur
Slide 32: Japan: a steady success story over time
Japan: a steady success story over time Our 6th market Groupe SEB Building new categories ➔ A game changer Cookware Kettles EPC 32 25/02/2022 Provisional 2021 sales
Slide 33: Key Takeaways
05 KEY TAKEAWAYS
Slide 34: Key takeaways
Key takeaways ▪ A record year: sales over €8bn, growth over €1bn or +16% ▪ Consumer business cumulating records ➔ Overall strengthened market positions ▪ Back to positive dynamics in Professional (PCM) ➔ Confidence in future development ▪ Ability to offset over the year increasing headwinds 34 25/02
Slide 35: 2021 ORFA margin to reach 10%, exceeding €800m
2021 ORFA margin to reach 10% ➔ 2021 ORFA exceeding €800m Assumptions 04/2021 07/2021 10/2021 01/2022 Sales growth 10% > 10% ~14% 16% Headwinds (e) €140m > €250m ~€300m ~€300m ORFA Margin Close to 10% Close to 10% Close to 10% To reach 10%* * Results to be disclosed on Feb 25, 2022 35 25/02/2022 Pro
Slide 36: Questions & answers
Questions & answers 36 25/02/2022 Provisional 2021 sales
Slide 37: Appendix
GROUPE 7 J: = APPENDIX
Slide 38: 2021 sales by region
2021 sales by region Total sales Consumer sales Professional Consumer Other Asia 8% 92% 8% Western Europe 37% China €8,059m 25% €7,431m +15.5% LFL +16.0% LFL South America 4% Other EMEA 15% North America 11% 38 25/02/2022 Provisional 2021 sales
Slide 39: Q4 2021 sales
Q4 2021 sales In €m Q4 2021 Q4 2020 Q4 2021 As reported LFL EMEA 1,189 1,294 +8.9% +7.6% Western Europe 876 928 +5.9% +5.5% Other countries 313 367 +17.1% +13.5% AMERICAS 292 309 +5.7% +2.5% North America 206 238 +15.7% +11.8% South America 86 71 -18.2% -19.8% ASIA 600 713 +18.8% +12.7% China 430 53
Slide 40: FY 2021 quarterly sales
FY 2021 quarterly sales Unaudited figures In €m Q1.. Q2 H1 Q3 9m Q4 2021 EMEA 870 791 1,662 936 2,597 1,294 3,892 Western Europe 599 572 1 171 671 1,843 928 2,770 Other countries 271 219 490 264 755 367 1,121 AMERICAS 243 237 480 293 773 309 1,082 North America 178 170 348 202 550 238 788 South Amer
Slide 41: Glossary
Glossary On a like-for-like basis (LFL) – Organic Loyalty program (LP) The amounts and growth rates at constant exchange rates and consolidation scope in a These programs, led by the distribution retailers, consist in offering promotional offers given year compared with the previous year are calcula
Slide 42: Contacts
Investor/Analyst relations Media Relations Groupe SEB Groupe SEB Financial Communication Corporate Communication Dept and Investor Relations Dpt 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@
Slide 43: 2022 key dates
2022 key dates February 25 | before market opens 2021 sales and results AGENDA April 28 | after market closes Q1 2022 sales and financial data May 19 | 15:00 Annual general meeting July 21 | before market opens H1 2022 sales and results October 24 | after market closes Nine-month 2022 sales and fina