Seb Sa · EURONEXT:SK
Seb Sa — Groupe SEB — FY2023 Earnings Presentation
34 slides from Seb Sa's earnings presentation, Jan 30, 2024
Slide 1: 2023 Provisional Sales
ALL-CLAD ARNO ASIAVINA CALOR CLOCK CURTIS DASH EMSA FORGE ADOUR HEPP IMUSA KAISER KRAMPOUZ KRUPS LAGOSTINA LA SAN MARCO MAHARAJA WHITELINE MIRRO MOULINEX OBH NORDICA PACOJET PANEX 2023 PROVISIONAL SALES ROCHEDO ROWENTA SAMURAI January 30, 2024 SCHAERER SEB SILIT SUPOR T-FAL TEFAL UMCO WEAREVER Liste
Slide 2: Disclaimer
2023 provisional 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 do
Slide 3: Contents
CONTENTS 1. Key highlights 2. Performance by segment and geography 3. Conclusion 4. Appendix
Slide 4: Key highlights
01 KEY HIGHLIGHTS
Slide 5: Above €8bn sales, thanks to positive organic growth momentum
Above €8bn sales, thanks to positive organic growth momentum 2023 Sales FY Q4 €8,006m €2,474m +0.6% +5.3% LFL +3.1% +8.5% LFL ➢ A strong Q4 confirming: • Consumer business recovery since Q2 • Outstanding commercial performance in Professional ➢ 2023 LFL sales growth fully in line with FY outlook 5 3
Slide 6: Strong FY organic growth at 5.3%, counterbalanced by negative FX impact
Strong FY organic growth at 5.3%, counterbalanced by negative FX impact, as anticipated In €m +420 -420 7,960 +46 8,006 Organic Currency Scope growth effect effect +5.3% -5.3% +0.6% +0.6% Reported growth FY 2022 FY 2023 Scope effect reflecting first contributions from recent acquisitions in Professi
Slide 7: Marked currency impact in 2023, especially in H2
Marked currency impact in 2023, especially in H2 In €m 40 20 0 - 20 - 40 - 60 - 80 - €420m - 100 H1: - €121m - 120 H2: - €299m - 140 - 160 - 180 7 30/01/2024 2023 Provisional sales
Slide 8: Clear return to organic growth since Q2 2023
Clear return to organic growth since Q2 2023 Quarterly LFL Group revenue growth +8.9% +8.5% +6.8% +0.4% -3.7% -5.1% -5.6% -8.1% Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 8 30/01/2024 2023 Provisional sales
Slide 9: Performance by segment and geography
02 PERFORMANCE BY SEGMENT AND GEOGRAPHY
Slide 10: Excellent performance in Professional, return to organic growth in Consumer
Excellent performance in Professional Return to organic growth in Consumer PROFESSIONAL CONSUMER FY FY €962m €7,045m +32.6% +26.5% LFL -2.6% +3.2% LFL Q4 Q4 €264m €2,209m +19.6% +16.2% LFL +1.4% +7.7% LFL 10 30/01/2024 2023 Provisional sales
Slide 11: Outstanding achievements in Professional
Outstanding achievements in Professional FY €962m +32.6% +26.5% LFL Q4 €264m +19.6% +16.2% LFL ▪ Record year in Professional Coffee, both in machine sales and services ▪ Strong growth in all key geographies, China, USA, UK and DACH region ▪ Success in large deals with top clients, and robust flow of
Slide 12: Efficient product strategy fueled organic growth in Consumer
Efficient product strategy fueled organic growth in Consumer FY €7,045m -2.6% +3.2% LFL Q4 €2,209m +1.4% +7.7% LFL ▪ Dynamic flow of new product introduction supported organic growth in all regions ▪ Strong contribution from most emerging markets (other EMEA countries, Central and South America) ▪ R
Slide 13: Return to good organic growth in Consumer since Q2
Return to good organic growth in Consumer since Q2 Quarterly LFL Consumer revenue growth +7.7% +5.2% +5.5% -0.8% -5.9% -6.6% -7.3% -8.8% Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 13 30/01/2024 2023 Provisional sales
Slide 14: Sales dynamism supported by attractive 2023 new product offering (1/2)
Sales dynamism supported by attractive 2023 new product offering (1/2) Rice Cookers Oil-less Fryers Full-auto Kettles Supor’s iconic Dynamic product Expanded range One of the largest category with 15m category in 2023 coverage categories in China pieces sold and Japan 14 30/01/2024 2023 Provisional
Slide 15: Sales dynamism supported by attractive 2023 new product offering (2/2)
Sales dynamism supported by attractive 2023 new product offering (2/2) Versatiles Linen Care Fans P&P Ingenio Flagship product, Strong dynamic for Very high demand in Successful concept successful new all categories Central & South with still high X-Force range America potential 15 30/01/2024 2023 P
Slide 16: Good sales dynamic across product categories, particularly in Q4
Good sales dynamic across product categories, particularly in Q4 Consumer product lines: FY/Q4 2023 sales change vs 2022, LFL 50% 30% 20% 10% 0% Food Personal Electrical Home -10% LKA* care Cookware cooking Beverage Home care Linen care comfort preparation FY sales Q4 sales Q4 sales dynamic vs FY *L
Slide 17: Stronger H2 performance as expected
Stronger H2 performance as expected Consumer sales by region over the period, vs. 2022, LFL AMERICAS EMEA ASIA 2023: €1,113m / +1.4% 2023: €3,475m / +6.6% 2023: €2,457m / -0.6% +11.0% +9.3% +3.1% +1.0% H1 H1 H2 H1 H2 H2 -2.2% -10.0% 17 30/01/2024 2023 Provisional sales
Slide 18: Western Europe: progressive return to organic growth in most markets
Western Europe Progressive return to organic growth in most markets €m 2022 2023 Reported LFL FY 2,416 2,401 -0.6% -0.4% Q4 791 839 +6.0% +6.1% ▪ Mid single digit sales growth in France in 2023 • Large LP program in Cookware in H1 • Excl. LP, gradual improvement of quarterly performance • Successful
Slide 19: Other EMEA: strong sales growth across the region
Other EMEA Strong sales growth accross the region €m 2022 2023 Reported LFL FY 1,028 1,074 +4.5% +23.2% Q4 350 353 +0.9% +21.7% ▪ Dynamic markets in 2023 ▪ Close partnerships with local retailers and strong commercial execution both online and offline ▪ Improving market positions in several core cat
Slide 20: North America: improved H2 in the US, continued success in Mexico
North America Improved H2 in the US, continued success in Mexico €m 2022 2023 Reported LFL FY 797 767 -3.7% -2.8% Q4 240 232 -3.3% 0.0% ▪ Return to growth in H2 (+5% LFL) in the US • Softer Q4 after outstanding Q3, good sell-out performance for Black Friday • Consolidation of leadership in Cookware
Slide 21: South America: solid momentum across the region
South America Solid momentum accross the region €m 2022 2023 Reported LFL FY 333 345 +3.7% +11.5% Q4 86 103 +19.1% +26.3% ▪ Strong and growing leadership positions in Colombia, in a challenging market • Historical leader in Cookware with continued market share gains • #1 position in SDA in 2023 (dri
Slide 22: China: strong outperformance in a weak environment
China Strong outperformance in a weak environment €m 2022 2023 Reported LFL FY 2,101 1,966 -6.5% +1.0% Q4 557 536 -3.7% +3.3% ▪ Positive organic sales growth in 2023, thanks to solid Q4 market outperformance • Overall weak consumer sentiment context ▪ Steady market share gains of Supor in 2023 • Rei
Slide 23: Other Asia: improving trends in Q4
Other Asia Improving trends in Q4 €m 2022 2023 Reported LFL FY 559 492 -12.1% -6.5% Q4 154 146 -5.1% +1.6% ▪ Sales in the region back into positive territory in Q4 ▪ Weak underlying demand in Japan and South Korea, stabilizing trend in Q4 • Commercial success of our kettle range in Japan • Positive
Slide 24: Conclusion
03 CONCLUSION
Slide 25: 2023 ORFA growth expectations revised upwards
2023 ORFA growth expectations revised upwards ▪ Group delivered its FY 2023 organic sales growth guidance ➢ 5.3% organic growth vs. mid single digit guidance ➢ Organic growth recovery since Q2 in Consumer despite uncertain environment ➢ Confirmation of the strong momentum in Professional ▪ 2023 ORFA
Slide 26: Appendix
J SEB C. APPENDIX
Slide 27: 2023 sales by activity & regions
2023 sales by activity & regions Total sales Consumer sales Professional Consumer Other Asia 12% 88% 7% Western Europe 34% China €8,006m 28% €7,045m +5.3% LFL +7.7% LFL South America 5% Other EMEA 15% North America 11% 27 30/01/2024 2023 Provisional sales
Slide 28: 2023 sales by geography
2023 sales by geography Unaudited figures In €m Q4 2023 2022 2023 As reported 2023 LFL LFL EMEA 3,444 3,475 +0.9% +6.6% +10.9% EMEA Western Europe 2,416 2,401 -0.6% -0.4% +6.1% Other countries 1,028 1,074 +4.5% +23.2% +21.7% AMERICAS 1,130 1,113 -1.5% +1.4% +7.0% AMERICAS North America 797 767 -3.7%
Slide 29: Q4 2023 sales by geography
Q4 2023 sales by geography Unaudited figures In €m Q4 2023 Q4 2022 Q4 2023 As reported LFL EMEA 1,142 1,192 +4.4% +10.9% EMEA Western Europe 791 839 +6.0% +6.1% Other countries 350 353 +0.9% +21.7% AMERICAS 326 335 +2.6% +7.0% AMERICAS North America 240 232 -3.3% +0.0% South America 86 103 +19.1% +2
Slide 30: FY 2023 quarterly sales
FY 2023 quarterly sales Unaudited figures Q4 2023 FY 2023 Q1.. Q2 H1 Q3 9m Q4 2023 In €m LFL LFL EMEA 760 729 1,489 794 2,282 1,192 +10.9% 3,475 +6.6% EMEA Western Europe 524 505 1,029 533 1,562 839 +6.1% 2,401 -0.4% Other countries 236 224 460 261 720 353 +21.7% 1,074 +23.2% AMERICAS 212 246 458 32
Slide 31: FY 2023 quarterly sales growth, LFL
FY 2023 quarterly sales growth, LFL Unaudited figures Q1 2023 Q2 2023 H1 2023 Q3 2023 9 months Q4 2023 FY 2023 In €m LFL LFL LFL LFL 2023 LFL LFL LFL EMEA -5.0% +12.8% +3.1% +7.0% +4.5% +10.9% +6.6% Western Europe -9.6% +3.3% -3.7% -3.4% -3.6% +6.1% -0.4% EMEA Other countries +6.7% +37.3% +20.5% +29
Slide 32: 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 33: Contacts
Investor/Analyst relations Media Relations Groupe SEB Groupe SEB Investor Relations and Financial Corporate Communication Dept Communication Dept Cathy Pianon C O N TA C T S Raphael Hoffstetter Anissa Djaadi Guillaume Baron Marie Leroy rhoffstetter@groupeseb.com presse@groupeseb.com gbaron@groupeseb
Slide 34: Agenda: 2024 key dates
2024 key dates February 22 | before market 2023 results AGENDA April 25 | after market Q1 2024 sales and financial data May 23 | 2:30 pm (Paris time) Annual General Meeting July 25 | before market H1 2024 sales and results October 24 | after market 9-month 2024 sales and financial data 34 30/01/2024