Seb Sa · EURONEXT:SK
Seb Sa — Groupe SEB — 9M 2023 Earnings Presentation
29 slides from Seb Sa's earnings presentation, Oct 26, 2023
Slide 1: 2023 Nine-Month Sales and Financial Data
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 2023 NINE-MONTH SALES PANEX ROCHEDO AND FINANCIAL DATA ROWENTA SAMURAI SCHAERER October 26, 2023 SEB SILIT SUPOR T-FAL TEFAL U
Slide 2: Disclaimer
2023 Nine-month 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 assumption
Slide 3: Agenda
AGENDA 1. Group sales review 2. ORFA, net financial debt 3. Outlook 4. Appendix
Slide 4: Group Sales Review
01 GROUP SALES REVIEW
Slide 5: Confirming organic growth rebound in Q3
Confirming organic growth rebound in Q3 Sales 9 months Q3 €5,532m €1,920m -0.5% +3.9% LFL +1.4% +8.9% LFL 5 26/10/2023 2023 Nine-month sales and financial data
Slide 6: Positive organic growth – Increasing FX effect as expected
Positive organic growth – Increasing FX effect as expected In €m +217 -282 5,560 5,532 +37 Organic Currency Scope growth effect +3.9% -5.1% +0.7% - 0.5% Currency effect by quarter Reported • Q1: -€27m (-1,4%) growth • Q2: -€94m (-5,3%) 9M 2022 9M 2023 • Q3: -€161m (-8,5%) 6 26/10/2023 2023 Nine-mont
Slide 7: 9-month 2023 currency impact on sales: -€282m
9-month 2023 currency impact on sales : - €282m Driven by RMB, TRY, RUB and EGP depreciation In €m 20 0 - 20 - 40 - 60 - 80 - 100 - 120 - 140 KRW CHF CZK CAD GBP COP EGP ARS UAH JPY RUB TRY CNY Others MXN PLN USD 7 26/10/2023 2023 Nine-month sales and financial data
Slide 8: Confirmation in Q3 of the positive trend initiated in Q2
Confirmation in Q3 of the positive trend initiated in Q2 Quarterly LFL Group revenue growth since 2022 +8,9% +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 8 26/10/2023 2023 Nine-month sales and financial data
Slide 9: Sales growth in both Consumer and Professional
Sales growth in both Consumer and Professional Consumer Professional 9-month 9-month €4,835m €697m -4.4% +1.2% LFL +38.3% +31.0% LFL Q3 Q3 €1,658m €263m -3.6% +5.5% LFL +50.6% +42.6% LFL 9 26/10/2023 2023 Nine-month sales and financial data
Slide 10: Stellar Performance in Professional segment
Stellar Performance in Professional segment 9m sales €697m +38.3% +31.0% LFL Q3 sales €263m Q3: +50.6% +42.6% LFL ▪ Q3 record sales performance in PCM driven by all major regions ▪ Strong growth mostly driven by large contracts and supported by service sales ▪ Structural growth in consumer demand fo
Slide 11: Consumer rebound driven by Americas and EMEA
Consumer rebound driven by Americas and EMEA Consumer sales by region over the period, vs. 2022, LFL AMERICAS EMEA ASIA 9M: €778m / -0.8% 9M: €2,282m / +4.5% 9M: €1,775m / -1.9% +15.5% +7.0% +3.1% -10.0% -2.2% -1.1% Q3 H1 Q3 Q3 H1 H1 9M: €4,835m / +1.2% vs. 2022 Q3 2023: €1,658m / +5.5% vs. 2022 11
Slide 12: EMEA €2,282m
Q3 sales / €m 2022 2023 Reported LFL EMEA Western Europe 553 533 -3.7% -3.4% 9m Sales €2,282m Other EMEA 256 261 +2.0% +29.7% countries -0.9% +4.5% LFL Total EMEA 809 794 -1.9% +7.0% ▪ In Western Europe, • Continued recovery in Q3 especially in France, Benelux and the Nordics driven by most product
Slide 13: Americas €778m
Q3 sales / €m 2022 2023 Reported LFL Americas 9m Sales €778m North America 199 220 +10.8% +14.9% South America 90 100 +10.5% +16.8% -3.2% -0.8% LFL Total Americas 289 320 +10.7% +15.5% ▪ Strong growth in the US on a favourable base thanks to market share gains in cookware ▪ Mexico continued to grow
Slide 14: Asia €1,775m
Q3 sales / €m 2022 2023 Reported LFL Asia China 491 431 -12.1% +0.2% 9m Sales €1,775m Other Asian countries 132 113 -14.1% -6.2% -9.0% -1.9% LFL Total Asia 622 544 -12.5% -1.1% ▪ Good performance versus peers in China, where the Group managed to match previous year sales in a weak market, thanks to:
Slide 15: Consumer sales change by product line
Consumer sales change by product line (2023 Q3 Sales vs 2022, LFL) 35% Q3 sales, 2023: €1,658m, +5.5% LFL 30% Home Comfort Floor Care 25% Linen Care 20% Beverage 15% 10% Cookware Electrical cooking 5% LKA* Food preparation 0% Personal Care -5% -10% * LKA : Large Kitchen Appliances -15% 15 26/10/2023
Slide 16: ORFA, Net Financial Debt
GROUPE SEB ORFA, NET FINANCIAL DEBT
Slide 17: ORFA analysis
ORFA analysis 9 months Q3 Operating Result €389m €209m from Activity vs €319m in 2022 vs €120m in 2022 7.0% 10.9% ORFA margin vs 5.7% in 2022 vs 6.3% in 2022 + 130 bps + 460 bps ▪ ORFA benefitting from positive top line trend and declining cost of freight and purchasing since Q2 ▪ Investments in gro
Slide 18: A marked increase in profitability in Q3
A marked increase in profitability in Q3 now more in line with the Group’s historical standards ORFA margin evolution by quarter 12,6% 12,6% 10,9% 10,6% 8,3% 7,3% 6,4% 6,3% 5,8% 3,6% 3,4% Q1 Q2 Q3 Q4 Median 2015-2021 2022 2023 18 26/10/2023 2023 Nine-month sales and financial data
Slide 19: Net financial debt update
Net financial debt update Net financial debt €2,278m* at 30/09/2023 €2,581m at 30/09/2022 ▪ Sizeable destocking effort in Q4 last year Key highlights ▪ Strong operating cash flow generation YTD ▪ Dynamic M&A activity in 2023 19 26/10/2023 2023 Nine-month sales and financial data *incl. IFRS 16 debt:
Slide 20: Outlook
03 OUTLOOK
Slide 21: Confirmation of the full-year outlook
Confirmation of the full-year outlook 2023 Group Revenue: ▪ Mid single digit LFL growth with ✓ Positive LFL growth in Consumer ✓ Strong LFL growth in Professional ▪ Negative FX impact of c. 5% Group ORFA: ▪ At least 10% growth 21 26/10/2023 2023 Nine-month sales and financial data
Slide 22: Appendix
GROUPE 7 me z APPENDIX
Slide 23: Consumer sales change by product line
Consumer sales change by product line (2023 9m Sales vs 2022, LFL) 30% 9m sales, 2023: €4,835m, +1.2% LFL Home Comfort 25% 20% Linen Care 15% 10% Beverage Electrical cooking Floor Care Cookware 5% LKA* 0% Personal Care Food preparation -5% -10% -15% * LKA : Large Kitchen Appliances 23 26/10/2023 202
Slide 24: 9-month 2023 sales by region
9-month 2023 sales by region In €m 9 months 9 months 9 months As reported 2022 2023 2023 LFL EMEA 2,302 2,282 -0.9% +4.5% EMEA Western Europe 1,625 1,562 -3.9% -3.6% Other countries 677 720 +6.4% +24.0% AMERICAS 804 778 -3.2% -0.8% AMERICAS North America 557 535 -3.9% -4.0% South America 247 243 -1.
Slide 25: Q3 2023 sales by region
Q3 2023 sales by region In €m Q3 2022 Q3 2023 As reported Q3 2023 LFL EMEA 809 794 -1.9% +7.0% EMEA Western Europe 553 533 -3.7% -3.4% Other countries 256 261 +2.0% +29.7% AMERICAS 289 320 +10.7% +15.5% AMERICAS North America 199 220 +10.8% +14.9% South America 90 100 +10.5% +16.8% ASIA 622 544 -12.
Slide 26: 9-month 2023 sales by region
9-month 2023 sales by region Total sales Consumer sales Professional Consumer Other Asia 13% 87% 7% Western Europe 32% China €5,532m 30% €4,835m +3.9% LFL +1.2% LFL South America Other EMEA 5% 15% North America 11% 26 26/10/2023 2023 Nine-month sales and financial data
Slide 27: Glossary
Glossary On a like-for-like basis (LFL) – Organic Net debt 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 calculated: equivalent
Slide 28: Upcoming events in 2023 & 2024
Upcoming events in 2023 & 2024 December 14 | 2:00 p.m. Capital Markets Day in Paris AGENDA January 30 | after market closes Provisional 2023 sales February 23 | before market opens 2023 sales and results April 25 | after market closes Q1 2024 sales and financial data May 23 | 2:30 p.m. Annual genera
Slide 29: Contacts
Investor/Analyst Relations Media Relations Groupe SEB Groupe SEB Investor Relations and Corporate Communication Dept Financial Communication Dept C O N TA C T S Olivier Gernandt Cathy Pianon Guillaume Baron Anissa Djaadi Marie Leroy ogernandt@groupeseb.com gbaron@groupeseb.com presse@groupeseb.com T