Seb Sa · EURONEXT:SK
Seb Sa — Groupe SEB — Q1 2023 Earnings Presentation
27 slides from Seb Sa's earnings presentation, Apr 28, 2023
Slide 1: 2023 First-Quarter Sales and Financial Data
2023 FIRST-QUARTER SALES AND FINANCIAL DATA April 28, 2023 Listen to the webcast of the meeting here or at www.groupeseb.com
Slide 2: Disclaimer
2023 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: Agenda
AGENDA 1. Q1 sales highlights 2. Q1 sales performance analysis 3. ORFA & Net financial debt 4. Outlook 2023 5. Appendix
Slide 4: Q1 Sales Highlights
01 Q1 SALES HIGHLIGHTS
Slide 5: Key figures at end-March 2023
Key figures at end-March 2023 In €m Q1 sales and LFL evolution 1,915 1,852 -3.7% 1,822 1,722 +0.4% Sales +31% €1,822m -17% 1,454 -3.7% LFL - 4.9% reported Q1 2023 vs. Q1 2022 2019 2020 2021 2022 2023 5 28/04/2023 First-quarter sales and financial data
Slide 6: A soft start to the year as anticipated
A soft start to the year as anticipated ▪ Q1 2023 sales decline in line with Group's expectations ▪ Mixed performance between Consumer down 6.6% and Professional up 29% LFL ▪ Consumer business penalized by : ✓ a fifth and last consecutive quarter impacted by a high comparable base ✓ some tough key m
Slide 7: Q1 Sales Performance Analysis
02 Q1 SALES PERFORMANCE ANALYSIS
Slide 8: 2023 Q1 sales
2023 Q1 sales Sales €1,822m -4.9% -3.7% LFL Professional Consumer €209m €1,613m +34.1% +29.1% LFL -8.4% -6.6% LFL 8 28/04/2023 First-quarter sales and financial data
Slide 9: Q1 sales bridge 2022 to 2023
Q1 sales bridge 2022 ➔ 2023 in €m 1,915 -72 -27 1,822 +6 Organic Currency Scope growth effect -3.7% -1.4% +0.2%* -4.9% 2022 2023 * Zummo for 6 M€ 9 28/04/2023 First-quarter sales and financial data
Slide 10: Currency impact on Q1 2023 sales
Currency impact on Q1 2023 sales (vs Q1 2022) In €m Q1 - €27m 15 5 -5 - 15 - 25 RUB USD MXN CHF BRL NOK SEK PLN ARS GBP UAH JPY COP TRY EGP CNY Others 10 28/04/2023 First-quarter sales and financial data
Slide 11: Q1 2023 sales by region
Q1 2023 sales by region Reminder Reminder ∆ 23-22 ∆ 23-22 In €m Q1 2022 Q1 2023 Q4 ∆22-21 Q3 ∆22-21 reported LFL LFL LFL TOTAL 813 760 -6.5% -5.0% -12.1% -13.7% EMEA Western Europe 582 524 -9.9% -9.6% -14.6% -17.8% Other countries 231 236 +2.0% +6.7% -5.7% -3.3% TOTAL 243 212 -12.8% -13.7% -3.9% -12
Slide 12: Outstanding performance of Professional business
Outstanding performance of Professional business Sales €209m ▪ Double digit growth across all regions ➔ Best performance +34.1% +29.1% LFL in China followed by Germany, the US and the UK ▪ 50 / 50 mix in machine sales growth between large deals and core business ▪ Great momentum in the core business
Slide 13: EMEA
Q1 sales / €m 2022 2023 Reported LFL EMEA Sales €760m Western Europe 582 524 -9.9% -9.6% Other EMEA -6.5% -5.0% LFL 231 236 +2.0% +6.7% countries ▪ As expected, persistent soft markets in Western Europe during Q1 • For many countries, high comparison basis with Q1 2022 as an extension of exceptional
Slide 14: Americas
Q1 sales / €m 2022 2023 Reported LFL Americas Sales €212m North America 173 143 -17.6% -22.1% -12.8% -13.7% LFL South America 70 69 -0.8% +7.2% ▪ Economic environment still weighing on demand in the US • Extending our leadership position in Cookware in a declining market • Retailers’ focus on invent
Slide 15: Asia
Q1 sales / €m 2022 2023 Reported LFL Asia Sales €640m China 569 527 -7.4% -4.6% -8.9% -6.1% LFL Other Asian countries 134 113 -15.3% -12.9% ▪ Soft start to the year in China as expected • High comparable base (Q1 22 up 11% LFL vs 21) with timing of the Chinese New Year (earlier in 2023 than in previ
Slide 16: ORFA & Net Financial Debt
GROUPE ORFA & NET FINANCIAL DEBT /
Slide 17: ORFA analysis
ORFA analysis Operating Result €65m, 3.6% ORFA margin from Activity -€75m vs Q1 2022 ▪ Reminder: Q1 ORFA not representative of FY performance (due to business seasonality) ▪ As announced difficult start to the year, due to: ➢ Q1 COGS still impacted by 2022 production cost levels => negative 50 M€ im
Slide 18: Net financial debt analysis
Net financial debt analysis Net financial debt €1,864m* at 31/03/2023 -€109m vs 31/12/2022 ▪ Decrease in Net Financial Debt as compared to 31/12/2022 • Positive free cash-flow generation above €200m • Further reduction in inventories • Acquisition of La San Marco ▪ Healthy and well-balanced financin
Slide 19: Outlook
04 OUTLOOK
Slide 20: Full-year Outlook confirmed
Full-year Outlook confirmed 2023 ▪ Progressive recovery in Consumer sales ▪ Strong growth in Professional sales ▪ Increase in full-year Group ORFA margin 20 28/04/2023 First-quarter sales and financial data
Slide 21: Appendix
05 APPENDIX
Slide 22: Q1 sales per region
Q1 sales per region Total sales Consumer sales Professional Consumer Other Asia 11% 89% 7% Western Europe 32% China €1,822m 33% €1,613m -3.7% LFL -6.6% LFL South America 4% Other EMEA 15% North America 9% 22 28/04/2023 First-quarter sales and financial data
Slide 23: Change in sales by product line, Q1 2023 vs Q1 2022, LFL
Change in sales by product line, Q1 2023 vs Q1 2022, LFL 45% Q1 sales, 2023: €1,822m, -3.7% LFL Professional 35% Home Comfort 25% 15% Linen Care Personal Care 5% Cookware Electrical cooking Beverage -5% Food preparation Home care -15% LKA -25% *LKA = Large Kitchen Appliances 23 28/04/2023 First-quar
Slide 24: Change in Consumer sales – Top countries
Change in Consumer sales – Top 20 countries Q1 2023 vs Q1 2022, LFL EMEA - 5.0% AMERICAS -13.7% ASIA -6.1% Turkey Ukraine BRAZIL Colombia Egypt > 0% Mexico FRANCE* United Kingdom Romania Netherlands Belgium Poland FRANCE South Korea < 0% USA GERMANY ITALY RUSSIA SPAIN CHINA JAPAN *Inc. LP TOP 10 COU
Slide 25: Glossary
Glossary On a like-for-like basis (LFL) – Organic The amounts and growth rates at constant exchange rates and consolidation scope in a given year compared with the previous year are calculated: • using the average exchange rates of the previous year for the period in consideration (year, half-year,
Slide 26: Contacts
Investor/Analyst Relations Media Relations Groupe SEB Groupe SEB Investor Relations and Corporate Communication Dept Financial Communication Dept Olivier Gernandt Cathy Pianon C O N TA C T S Guillaume Baron Anissa Djaadi ogernandt@groupeseb.com cpianon@groupeseb.com gbaron@groupeseb.com adjaadi@grou
Slide 27: Agenda – Upcoming events 2023
Upcoming events – 2023 AGENDA May 17 | 02:30 (Paris time) Annual general meeting July 26 | after market H1 2023 sales and results October 26 | after market Nine-month 2023 sales and financial data 27 28/04/2023 First-quarter sales and financial data