Seb Sa · EURONEXT:SK
Seb Sa — Groupe SEB — Investor Presentation (June 2019)
90 slides from Seb Sa's investor presentation, June 2019
Slide 1: Groupe SEB Presentation June 2019
GROUPE SEB PRESENTATION June 2019
Slide 2: Content
CONTENT 1. Groupe SEB in a Nutshell 2. ESG: A committed Group 3. 2018 Annual Results 4. 1st Quarter 2019 5. Appendices
Slide 3: Groupe SEB in a Nutshell
01 GROUPE SEB IN A NUTSHELL
Slide 4: 2018 Key Figures
2018 Key Figures €6,812m €695m €419m 34,000 Sales, + 7.8% Operating Result LFL Net income employees from Activity €247m +1,300 41 Investments in own industrial sites innovation retail stores 4 June-19 Groupe SEB presentation
Slide 5: The World Reference in Small Domestic Equipment
The World Reference in Small Domestic Equipment products sold 12 in the world every second million products sold every #1 in different product >350 year in more than categories and 150 countries in numerous geographic areas countries with leadership > 25 positions 5 June-19 Groupe SEB presentation
Slide 6: Competing on a playfield exceeding €75bn
Competing on a playfield exceeding €75bn Global market sizes and breakdown by geography ~€45bn EMEA ~€23bn Asia EMEA Asia ~€8bn Americas Americas Small Domestic Appliances Cookware/Kitchenware Professional Coffee (SDA) (CW / KW) Machines 6 June-19 Groupe SEB presentation
Slide 7: Main trends structuring our industry
Main trends structuring our industry Scale effect Improvement of technical capabilities in Asian countries Local approach Production New models Expansion Critical size Pure players (direct / marketplaces) of online Leadership By country and by segment Click & Mortars channel SDA AND CW / KW MARKET N
Slide 8: Groupe SEB: a long-term value-creation strategy
Groupe SEB: a long-term value-creation Strategy Focus Strengthen our on growth competitiveness Optimize our industrial facilities… Strength and complementarity of our brands Optimize purchasing and logistics Product innovation Improve industrial productivity Multi-channel distribution strategy Simpl
Slide 9: An exceptional brand portfolio
An exceptional brand portfolio 9 June-19 Groupe SEB presentation
Slide 10: An extensive and diversified offering, bolstered by innovation
An extensive and diversified offering, bolstered by innovation SMALL ELECTRIC APPLIANCES KITCHEN ELECTRICS COOKWARE - KITCHENWARE HOME AND PERSONAL CARE PROFESSIONAL Coffee machines Hotel Equipment 10 June-19 Groupe SEB presentation
Slide 11: A constant focus on innovation
A constant focus on innovation >1,400 + de €247m 492 Passion for Innovation, people Investments patents one of the 5 values (R&D, Marketing, Design) (worldwide) of the Group 2018 figures Seb/Tefal Actifry Supor Tefal Tefal Ingenio Moulinex Rowenta Krups Moulinex Rowenta Tefal Original Steam Pro RC I
Slide 12: Continued digital transformation: E-Commerce
Continued digital transformation E-Commerce 220 retailers connected via our websites Nearly 25% of Consumer sales E-Commerce Broader listings with pure players: +60% in 2018 E-marketing Digital offering 12 June-19 Groupe SEB presentation
Slide 13: Continued digital transformation: Digital offering
Continued digital transformation Digital offering E-Commerce 15 connected products launched in 5 years Cookeo Connect: 25% of Cookeo sales Applications: > 800,000 monthly users E-marketing Digital offering Acquisition of 750g International Connected professional machines: Coffee connect 13 June-19 G
Slide 14: Continued digital transformation: E-marketing
Continued digital transformation E-marketing E-Commerce Media investment: >40% digital 60 million visits on Group websites Recruitment of data experts: 170 since 2015 Success of digital communities: E-marketing Digital offering Cuisine Companion / Cookeo / Cake Factory 14 June-19 Groupe SEB presenta
Slide 15: Recent success: Cake Factory
Continued digital transformation Recent success: Cake Factory 1st Facebook brand community dedicated to Cake Factory in September 2018 • 20,000 members in 5 months in the Facebook group • active community: 4 new conversations a minute Active influence campaign: • 350 influencers’ posts on Instagram
Slide 16: A multi-channel distribution strategy
A multi-channel distribution strategy Mass retail 21 % Specialists 19 % Traditional 18 % Online 25 % Group retail 7 % Others 10 % 16 June-19 Groupe SEB presentation
Slide 17: Worldwide presence
Worldwide presence Other Asian countries 9% Emerging countries 44% China 24% €6,812m Western Europe 41% +7.8% LFL Mature countries 56% South America 5% North America 10% Other EMEA 12% Presence Leadership in nearly positions in over > 75 % of sales 150 countries 25 countries 17 June-19 Groupe SEB pr
Slide 18: Professional coffee: new opportunities
Professional coffee: new opportunities in espresso full-auto and filter coffee machines Full autos – around 25% of the global market Filter – < 10% of the global market Global market Fully Automatic U.S market Coffee Machines – "Equipment" Filter Coffee Machines Penetration of Fully Automatic Coffee
Slide 19: A global approach
A global approach 19 June-19 Groupe SEB presentation
Slide 20: An active acquisition strategy
An active acquisition strategy 8000 2018 2005 2016 7000 1988 2011 6485 2001 6812 6000 1998 1972 4770 5000 2004 2007 4000 1997 1968 2870 2015 3000 2000 1825 2006 1764 1000 170 7 0 1953 1975 1998 2000 2007 2015 2016 2017 2018 20 June-19 Groupe SEB presentation
Slide 21: M&A strategy: focus on complementarity
M&A strategy: focus on complementarity Product complementarity EMSA - 2016 Swizzz Prozzz - 2017 Wilbur Curtis - 2019 Ethera - 2017 Zahran - 2018 Geographical Business complementarity complementarity WMF - 2016 750g Int. - 2018 FeeliGreen - 2019 OBH Nordica - 2015 * Acquisitions of the last 5 years 2
Slide 22: A worldwide industrial organization
A worldwide industrial organization GERMANY Emsdetten FRANCE St Lô Vernon Diez 2/3 of products Selongey Erbach CHINA Geislingen Mayenne manufactured in- Is/Tille Hayingen Shanghaï Tournus Rumilly Riedlingen Taicang house Pont Evêque Marigny RUSSIA Shaoxing St Jean Hangzhou de Bournay St Petersburg Y
Slide 23: ESG: A Committed Group
PN ESG: | A COMMITTED GROUP
Slide 24: Shareholding structure at 31/12/2018
Shareholding structure at 31/12/2018 Free float = 44.2 % Free float = 31.0 % of of shares voting rights Treasury Individual Individual French shares French shareholders 1.1% shareholders 4.9% 4.4% Foreign shareholders 18.7% Foreign shareholders Founding 27.6% 50.2 M shares Group 76.8 M effective Fou
Slide 25: Groupe SEB Executive Committee
Groupe SEB Executive Committee Thierry de La Tour d’Artaise Stanislas de Gramont Chairman and CEO Chief Operating Officer Vincent Léonard Senior Executive VP, Vincent Tai Finance Executive VP, Asia Harry Touret Senior Executive VP, Human Resources Cyril Buxtorf Executive VP, EMEA Alain Leroy Executi
Slide 26: Our values
Our values Global vision Respect Leadership for change Passion for Products Pragmatism Loyalty Shared ambition Determination Innovator Know-how Corporate Social Trust Agility Daring High standards Responsibility Transparency ENTREPRENEURIAL PASSION RESPECT GROUP DRIVE FOR INNOVATION PROFESSIONALISM
Slide 27: Sustainable Development: at the heart of the Group's strategy
Sustainable Development: at the heart of the Group’s strategy Developing territories and community commitment Ensuring the Group’s ethical principles are respected Creating sustainable innovations to meet consumer needs Pursuing a social responsibility policy Reducing the environmental impact 27 Jun
Slide 28: Recycling to leverage circular economy
Recycling to leverage circular economy • Groupe SEB: pioneer in implementing a cookware recycling program in France ➔ 20 operations since 2012 ➔ 1 million products collected 2018 H1 2020 • Communication • Launch of recycling • Launch of 1st range campaign: recycling including fully recycled • Launch
Slide 29: Repairability to leverage circular economy
Repairability to leverage circular economy ▪ In 2018, 93% of SDA* volumes were repairable (75% fully and 18% mostly) ▪ 6,200 certified repairers around the globe ▪ 6m spare parts stocked in Faucogney for Europe ➔ Consumers subscribe: Repaired products in Europe (out of warranty) +40% in 5 years *exc
Slide 30: Groupe SEB sponsoring's actions
Groupe SEB sponsoring’s actions Public health Sports events programmes 6% 4% Others (schools…) Social & Human 16% rights 2 900 k€ 34% +9 % vs 2017 Employees of the Group Its purpose: fight against involved as volunteers social exclusion Cultural and artistic 16% 16 Fonds Groupe SEB 24% Since 2007, a
Slide 31: Groupe SEB sponsoring's actions: supported projects
Groupe SEB sponsoring’s actions 500 supported projects over 10 years: ➔ In China ➔ In Colombia ➔ In France creation and construction of 22 schools a social business program to benefit with the Institut Télémaque since 2005 2,000 street coffee vendors in Medellin (Tinteros) 940 youngsters supported 2
Slide 32: 2018 Annual Results
03 2018 ANNUAL RESULTS
Slide 33: 2018 key figures – Another great year of growth
2018 key figures – Another great year of growth Sales €6,812m +5.1% +7.8% LFL Consumer Professional €6,177m €635m +4.3% +7.2% +12.8% +14.3% LFL LFL 33 June-19 Groupe SEB presentation
Slide 34: 2018 key figures – Solid performances
2018 key figures – Solid performances Sales Sales Operating Result from Activity Net profit €6,812m +5.1% +7.8% LFL €6,812m (ORfA) €419m +5.1% +7.8% LFL €695m +11.8% +2.5% +8.5% LFL* *Before PPA one-offs Net debt Net debt/Adjusted EBITDA €1,578m 1.90 -€327m vs 12/31/2017 2.36 at 12/31/2017 Dividend
Slide 35: Strengthened footprint: Group expansion in Egypt
Strengthened footprint Group expansion in Egypt Sales x 2 in 2018 • Long-standing Group partner • 2018: JV Groupe SEB Egypt Zahran • No. 1 in cookware and food preparation • 2 industrial sites • > 2m products manufactured per year • 860 employees • Local market of 100m inhabitants • Exports to neigh
Slide 36: Wilbur Curtis acquisition in the United States
Strengthened footprint Wilbur Curtis acquisition in the United States 2018 sales • No. 2 in professional filter coffee in the US > $90m • 25% market share • Filter coffee market: 1/3 professional coffee in the US ➔ Long-standing and strong tradition in the US 36 June-19 Groupe SEB presentation
Slide 37: WMF-Schaerer / Wilbur Curtis complementary features
WMF-Schaerer / Wilbur Curtis Multiple complementary features... 30 miles ▪ Filter coffee machines + automatic espresso machines PRODUCTS ▪ 2/3 of professional coffee market in the US ▪ Opportunities of double equipment ▪ From $800 to $1,000 for filter coffee machines PRICES ▪ From $3,500 to $10,000
Slide 38: Ambition: become leader in professional coffee in the US
Ambition: become leader in professional coffee in the US 38 June-19 Groupe SEB presentation
Slide 39: Sales
Solid performances 1 Sales 2 Results 39 June-19 Groupe SEB presentation
Slide 40: Change in sales, 2017 → 2018
Change in sales, 2017 → 2018 In €m +505 -211 +33 6,812 6,485 Organic Currency Other growth effect +7.8% -3.2% +0.5% +5.1% 2017 2018 40 June-19 Groupe SEB presentation
Slide 41: 2018 currency impact on sales
2018 currency impact on sales In €m 0 -5 -10 -15 -€211m -20 Q1: -€86m -25 Q2: -€54m -30 Q3: -€38m Q4: -€33m -35 -40 -45 -50 ARS TRY CNY CHF RUB BRL COP MXN USD USD OTHER 41 June-19 Groupe SEB presentation
Slide 42: Organic sales growth per quarter
Organic sales growth per quarter In % FY 2015 FY 2016 FY 2017 FY 2018 12 +8.0% +6.1% +9.2% +7.8% 11.5 10 9.4 8.8 8.6 8.4 7.9 7.8 8.4 8 7.4 7.3 7.8 7.2 2015 6.9 2016 6 6.5 6.0 5,1 2017 2018 4 Q1 Q2 Q3 Q4 42 June-19 Groupe SEB presentation
Slide 43: Full-year sales by region
Full-year sales by region As 2017 2018 LFL In €m reported EMEA 3,170 3,223 +1.7% +3.3% Western Europe 2,424 2,430 +0.2% +0.4% Other countries 746 793 +6.4% +12.5% AMERICAS 946 887 -6.3% +0.4% North America 579 547 -5.5% -4.4% South America 367 340 -7.4% +8.2% ASIA 1,806 2,067 +14.5% +17.6% China 1,2
Slide 44: Breakdown of sales by region
Breakdown of sales by region Other Asia Pacific 9% Emerging countries 44% China 24% €6,812m Western Europe 41% +7.8% LFL Mature countries 56% South America 5% North America 10% Other EMEA 12% 44 June-19 Groupe SEB presentation
Slide 45: Top countries – Consumer sales
Top 20 countries – Consumer sales TOP 10 COUNTRIES GERMANY BRAZIL CHINA Colombia SOUTH KOREA SPAIN ITALY JAPAN Mexico Netherlands Poland RUSSIA Switzerland Turkey Belgium Austria Canada USA FRANCE United Kingdom LFL 45 June-19 Groupe SEB presentation
Slide 46: Focus on a few countries
Focus on a few countries Numerous successes • China Targeted challenges • Central Europe • Mexico • France • Sweden • USA • Japan 46 June-19 Groupe SEB presentation
Slide 47: France
France 2018 sales -3% • A sluggish market • Consolidation of purchasing centers • Promotional context • Fewer LPs vs 2017 • One-off “yellow vest” effect Automatic espresso coffee makers 2018 sales +35% 47 June-19 Groupe SEB presentation
Slide 48: United States
United States 2018 sales -6% LFL • Activity penalized by difficulties of offline retailers • Decline in our SDA sales, especially Krups • Resilience in our Cookware sales • Good profitability Leadership in Cookware 2018 sales +1% 48 June-19 Groupe SEB presentation
Slide 49: China: another exceptional year
China: another exceptional year Supor sales in 2018 +25% +30% in SDA +13% in Cookware +72% in Home care and Linen care No. 1 in Cookware No. 2 in Kitchen Electrics LFL figures 49 June-19 Groupe SEB presentation
Slide 50: China: another exceptional year
China: another exceptional year Supor sales in 2018 +25% Mugs, food storage containers +30% in SDA +40% +13% in Cookware LFL +72% in Home care and Linen care No. 1 in Cookware No. 2 in Kitchen Electrics LFL figures 50 June-19 Groupe SEB presentation
Slide 51: Central and Eastern Europe: accelerated growth
Central and Eastern Europe: accelerated growth 2018 sales +30% Poland > €300m, +21% +53% Ukraine +40% in Electrical cooking +26% Slovakia +37% Romania (Albania, Bulgaria, Belarus, Bosnia, Croatia, Estonia, Hungary, Latvia, Lithuania, Macedonia, Moldova, Montenegro, Poland, Romania, Slovenia, Slovaki
Slide 52: Poland: remarkable momentum
Poland: remarkable momentum Vacuum cleaners 2018 sales x 3.5 LFL 52 June-19 Groupe SEB presentation
Slide 53: Mexico: continued excellent dynamics
Mexico: continued excellent dynamics 2018 sales +9% +40% Electrical cooking +14% Linen care Flagship products: Blenders, filter coffee machines, fans garment steamers +40% LFL figures 53 June-19 Groupe SEB presentation
Slide 54: Sweden: a promising market
Sweden: a promising market 2018 sales +15% Flagship products: Cookware, steam cookers, linen care, male clippers, Optigrill... +16% LFL figures 54 June-19 Groupe SEB presentation
Slide 55: Japan: widespread growth
Japan: widespread growth 2018 sales +9% +63% Cook4me Flagship products: Cookware (incl. Ingenio), garment steamers, kettles... +21% LFL figures 55 June-19 Groupe SEB presentation
Slide 56: Japan: widespread growth
Japan: widespread growth 2018 sales +9% LFL +63% Cook4me Flagship products: Cookware (incl. Ingenio), garment steamers, kettles... 33 T-Fal stores >20% of sales in Japan 56 June-19 Groupe SEB presentation
Slide 57: Top performers by product line - Consumer
Top performers by product line - Consumer 35% Home care 30% 25% Electrical cooking 20% 15% Beverage 10% Food preparation Home comfort Cookware Personal 5% Linen care care 0% -5% 57 June-19 Groupe SEB presentation -10%
Slide 58: Flagship products: Vacuum cleaners
Flagship products Vacuum cleaners 2018 sales +27% LFL Significant foothold in 30 countries 2018: market share gains in over 20 countries 58 June-19 Groupe SEB presentation Source GFK, excl. North America
Slide 59: Flagship products: Blenders
Flagship products Blenders Significant foothold in 40 countries Global market share: 12% (+1.3 pt) High-speed blenders: + 70% LFL 59 June-19 Groupe SEB presentation Source GFK, excl. North America
Slide 60: Flagship products: Garment steamers
Flagship products Garment steamers 2018 sales +28% LFL Foothold in over 65 countries Global market share: 21% (+2 pts) 60 June-19 Groupe SEB presentation Source GFK, excl. North America
Slide 61: Flagship products: Thermal mugs
Flagship products Thermal mugs 2018 sales +42% LFL Foothold in over 75 countries 61 June-19 Groupe SEB presentation
Slide 62: Results
Solid performances 1 Sales 2 Results 62 June-19 Groupe SEB presentation
Slide 63: Operating Result from Activity (ORfA)
Operating Result from Activity (ORfA) In €m 2017 2018 Δ Δ LFL Sales 6,485 6,812 +5.1% +7.8% ORfA 678* 695 +2.5% +8.5% Operating margin 10.5%* 10.2% -0.3 pt = Reported ORfA 661 695 +5.2% +11.3% Reported operating margin 10.2% 10.2% = +0.3 pt *before PPA one-offs 63 June-19 Groupe SEB presentation
Slide 64: ORfA bridge
ORfA bridge In €m +80 -48 -24 -35 736 +85 -45 695 +4 678 661 +17 PPA Volumes Price COGS Growth Admin Currencies Scope one-offs Mix drivers & comm. effect expenses 2017 2017 2018 2018 before PPA one-offs LFL 64 June-19 Groupe SEB presentation
Slide 65: Growth drivers
Growth drivers In €m 2017.* 2018. Δ LFL Innovation 235 247 +6.0% Advertising and marketing 432 431 +2.7% Total growth drivers 667 678 +3.7% *Including WMF Gross amount, before French Research Tax Credit and 2018 capitalization 65 June-19 Groupe SEB presentation
Slide 66: Operating profit
Operating profit 2017 2018 In €m Operating Result from Activity (ORfA) 661 695 +5.1% Discretionary and non-discretionary profit- (38) (34) sharing Other operating income and expense (43) (36) Operating profit 580 625 +8.0% 66 June-19 Groupe SEB presentation
Slide 67: Net Profit
Net Profit In €m 2017 2018 Operating profit 580 625 +8.0% Interest expense (35) (33) Other financial income and expense (37) 1 Tax (99) (131) Non-controlling interests (34) (43) Net profit 375 419 +11.8% 67 June-19 Groupe SEB presentation
Slide 68: Simplified balance sheet
Simplified balance sheet In €m 12/31/2017 12/31/2018 Tangible fixed assets 3,512 3,578 Operating WCR 1,222 1,120 Total assets to be financed 4,734 4,698 Equity 1,964 2,307 Provisions 413 383 Other current assets and liabilities 452 430 Net debt 1,905 1,578 Total financing 4,734 4,698 68 June-19 Grou
Slide 69: Change in operating WCR
Change in operating WCR In €m 1,206 1,222 22,00% 1200 19.6% 1,120 20,00% 1100 18.8% 18,00% 1000 16.4% as a % of Group sales 16,00% 900 14,00% 800 12,00% 700 600 10,00% 500 8,00% 2016* pro forma WMF 2017 2018 69 June-19 Groupe SEB presentation
Slide 70: Change in net debt
Change in net debt Operating cashflow: €552m (€322m in 2017) In €m 1,905 -838 1,578 +94 +127 +4 +203 -73 +22 +134 Cash Tax Invest. flow and financial expense Operating Other Dividends Currencies Other, non WCR operating Debt Debt end-2017 end-2018 70 June-19 Groupe SEB presentation
Slide 71: Debt ratios in line with expectations
Debt ratios in line with expectations Net debt/ Equity Ratio at 12/31 1.1 1.0 0.6 0.7 0.5 0.4 0.2 0.3 0.3 0.2 0.1 Net debt/Adjusted EBITDA Ratio at 12/31 2.8 2.4 1.7 1.3 1.9 1.2 0.9 1.0 0.6 0.6 0.3 08 09 10 11 12 13 14 15 16 17 18 71 June-19 Groupe SEB presentation
Slide 72: 1st Quarter 2019
S GROUPE SEB 04 1ST QUARTER 2019
Slide 73: 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 73 June-19 Groupe SEB presentation
Slide 74: Q1 revenue growth detailed by business activity
Q1 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 74 June-19 Groupe SEB presentation
Slide 75: 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 75 June-19 Groupe SEB presentation
Slide 76: 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 76 June-19 Groupe SEB presentation
Slide 77: 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 USD JPY PLN 77 June-19 Groupe SEB presentation
Slide 78: 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 79: 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 80: 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 81: 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 82: 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 83: 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 84: 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 85: 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 86: Appendices
GROUPE -— APPENDICES > ——
Slide 87: 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 87 June-19 Groupe SEB presentation
Slide 88: 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 89: Agenda: Next key dates
Next key dates AGENDA July 24 | before market opens H1 2019 sales and results October 29 | after market closes 9-month 2019 sales and financial data 89 June-19 Groupe SEB presentation
Slide 90: 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