Seb Sa · EURONEXT:SK
Seb Sa — Groupe SEB — Q1 2021 Earnings Presentation
31 slides from Seb Sa's earnings presentation, Apr 22, 2021
Slide 1: 2021 First-Quarter Sales and Financial Data
2021 FIRST-QUARTER SALES AND FINANCIAL DATA April 22, 2021 Listen to the live webcast click here
Slide 2: Disclaimer
2021 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: Contents
CONTENTS 1. Q1 2021 performance 2. Focus on businesses 3. Review by geography 4. ORfA and debt 5. Our assumptions for 2021 6. Appendix
Slide 4: Groupe Q1 2021 Performance
GROUPE Q1 2021 PERFORMANCE
Slide 5: Still a challenging overall context, yet supportive for our consumer markets
Still a challenging overall context, yet supportive for our consumer markets ▪ Covid-19 health crisis: update • Uncertain environment and mixed picture depending on countries • Stay at home imperative impacting consumers’ everyday life ▪ Ongoing strong momentum in Small Domestic Equipment • Cooking
Slide 6: Key figures at end-March 2021
Key figures at end-March 2021 Sales ORfA* Net debt €1,852m €198m €1,465m +27,4% +30.9% LFL vs. €18m in Q1 2020 o/w IFRS 16 debt: €332m 6 22/04/2021 First-quarter sales and financial data * Operating Result from Activity
Slide 7: An extremely dynamic start to the year, driven by the Consumer business
An extremely dynamic start to the year, driven by the Consumer business Sales €1,852m +27.4% +30.9% LFL Consumer €1,722m +35.4% +39.1% LFL Professional €130m -28.7% -26.2% LFL 7 22/04/2021 First-quarter sales and financial data
Slide 8: Q1 sales bridge 2020 to 2021
Q1 sales bridge 2020 ➔ 2021 In €m 1,852 +449 -81 +30 1,454 Organic Currency Scope growth effect +30.9% -5.6% +2.1% +27.4% Q1 2020 Q1 2021 8 22/04/2021 First-quarter sales and financial data
Slide 9: Q1 2021 sales by region
Q1 2021 sales by region In €m Reminder ∆ 21-20 ∆ 21-20 Q1 2020 Q1 2021 Q1 2020 reported LFL LFL EMEA 641 870 + 35.8% + 41.5% -10.4% Western Europe 445 599 + 34.6% + 34.7% -14.7% Other countries 195 271 + 38.6% + 57.1% +1.0% AMERICAS 149 243 + 63.1% + 61.0% -8,6% North America 97 178 + 82.6% + 64.4%
Slide 10: Top countries – Q1 consumer sales 2021, LFL change
Top 20 countries – Q1consumer sales 2021, LFL change vs Q1 2020 EMEA +41.5% AMERICAS +61.0% ASIA +29.1% FRANCE ITALY Poland Romania Canada USA > 60% Turkey Ukraine > 30% Belgium RUSSIA BRAZIL Colombia CHINA Mexico > 15% GERMANY SPAIN Netherlands SOUTH KOREA JAPON United Kingdom 10 22/04/2021 First-q
Slide 11: Q1 2021 currency impact on sales: -€81m
Q1 2021 currency impact on sales : -€81m In €m 5 0 -5 -10 -15 -20 -25 KRW EGP MXN AUD CHF ARS UAH BRL RUB INR JPY TRY CNY COP PLN USD OTHER 11 22/04/2021 First-quarter sales and financial data
Slide 12: Focus on Businesses
Asay a SE" Focus on oe —- —_ BUSINESSES
Slide 13: Consumer business: buoyant momentum
Consumer business: buoyant momentum Sales €1,722m +35.4% +39.1% LFL ▪ Strong demand for SDA and cookware items ▪ Quality sales / less promotional environment ▪ Sharp acceleration in March vs low comps ▪ Growth fueled by: • All geographies • All categories (except for fans) • E-commerce channels ▪ Pr
Slide 14: Q1 Consumer sales 2021 by product line – LFL change
Q1 Consumer sales, 2021, by product line – LFL change vs Q1 2020 Q1 sales, 2021: €1,722m, +39.1% LFL 80% LKA* 60% Home care 40% Personal care Food Beverage preparation Electrical Cookware cooking 20% 0% Linen care Home comfort -20% *LKA = Large Kitchen Appliances 14 22/04/2021 First-quarter sales an
Slide 15: Professional business: still heavily impacted in Q1
Professional business: still heavily impacted in Q1 Sales €130m -28.7% -26.2% LFL ▪ Professional Coffee severely hit by ongoing crisis of the Horeca industry, still largely under lockdown ▪ Diversified go-to-market strategy allowing to maintain significant core business and to fuel future order book
Slide 16: Review by Geography (Consumer)
03 REVIEW BY GEOGRAPHY (CONSUMER)
Slide 17: EMEA Q1 sales: €870m
Q1 sales / €m 2020 2021 REPORTED LFL EMEA Western Europe 445 599 + 34.6% + 34.7% Q1 sales: €870m Other EMEA countries 195 271 + 38.6% + 57.1% ▪ Favorable home consumption and cooking market in EMEA ▪ Extremely buoyant demand in Western Europe • Very dynamic activity in France • Sharp increase in sal
Slide 18: Americas Q1 sales: €243m
Q1 sales / €m 2020 2021 REPORTED LFL Americas North America 97 178 + 82.6% + 64.4% Q1 sales: €243m South America 52 65 + 26.2% + 54.6% ▪ Record performance in the US driven by strong demand • Cooking at home and consumption incentive measures still strong catalysts ➔ Record performance for Cookware
Slide 19: Asia Q1 sales: €609m
Q1 sales / €m 2020 2021 REPORTED LFL Asia China 365 468 + 28.3% + 30.2% Q1 sales: €609m Other Asian countries 117 142 + 20.4% + 25.5% ▪ Supor's domestic sales sharply up in Q1 • China first country to be impacted by Covid-19 in 2020 ➔ Low comps in Q1 • Cooking categories (cookware and electrical coo
Slide 20: ORfA and Debt
SEB 04 ORFA AND DEBT
Slide 21: Outstanding performances
Outstanding performances Operating Result from Activity €198m vs €18m in Q1 2020 ▪ Reminder: Q1 not representative of FY performance (business seasonality) ▪ Q1 2021 ORfA x11 vs highly atypical Q1 2020 • Robust sales momentum, quality sales • Strong industrial over-absorption (vs. under-absorption i
Slide 22: Simplified ORfA bridge, Q1
Simplified ROPA bridge, Q1 + 209 -1 - 28 In €m 198 Growth drivers + SG&A FX 18 Volumes, price-mix and ORfA Margin 1.2% COS 10.7% Q1 2020 Q1 2021 22 22/04/2021 First-quarter sales and financial data
Slide 23: Solid financial structure
Solid financial structure Net debt €1,465m* at 31/03/2021 €1,518m at 31/12/2020 ▪ €53m reduction in net debt as compared to 31/12/2020 • EBITDA growth outpacing WCR increase • €375 net debt reduction as compared to 31/03/2020 ▪ Healthy and well-balanced financing structure *incl. IFRS 16 debt: €332m
Slide 24: Our Assumptions for 2021
05 OUR ASSUMPTIONS FOR 2021
Slide 25: Our assumptions for the full year
Our assumptions for the full year ▪ Following an excellent first quarter… ▪ We expect Q2 sales to remain very dynamic... • on a favorable comparable basis • with the Consumer business still driven by very strong demand • and a rebound in Professional Coffee linked to specific contracts ▪ … and a sta
Slide 26: Our assumptions for the full year
Our assumptions for the full year ▪ Under these conditions: • Reported sales growth could end up around 10% for 2021 ➔ including a negative currency impact of around -€100m • The ORfA margin for 2021 could be close to 10% ➔ including more penalizing headwinds (FX, raw materials and components, freig
Slide 27: Appendix
GROUPE 7 J: = APPENDIX
Slide 28: Q1 sales by region
Q1 sales by region Other Asia Emerging countries Mature countries 8% 48% 52% Western Europe 36% China 25% €1,852m €1,852m +30.9% LFL +30.9% LFL South America 4% Other EMEA 15% North America 12% 28 22/04/2021 First-quarter sales and financial data
Slide 29: 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 30: 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 31: Agenda: 2021 key dates
2021 key dates AGENDA May 20 | 15:00 Annual general meeting July 23 | before market opens H1 2021 sales and results October 26 | after market closes Nine-month 2021 sales and financial data 31 22/04/2021 First-quarter sales and financial data