Seb Sa · EURONEXT:SK
Seb Sa — Groupe SEB — Investor Day (December 2023)
35 slides from Seb Sa's investor day presentation, Dec 14, 2023
Slide 1: Supor: Innovation Powering Growth
Capital Markets Day SUPOR INNOVATION POWERING GROWTH Vincent Tai EXECUTIVE VICE PRESIDENT, ASIA DECEMBER 14, 2023 14/12/2023 1
Slide 2: Supor, innovation powering growth
SUPOR, INNOVATION POWERING GROWTH Supor consolidating its leadership position in a Supportive Supor's growth challenging market structural market strategy and winning environment fundamentals formula 14/12/2023 2
Slide 3: Supor consolidating its leadership position in a challenging market environment
SUPOR, INNOVATION POWERING GROWTH Supor consolidating its leadership position in a challenging market environment 14/12/2023 3
Slide 4: A Fascinating Journey
SUPOR, INNOVATION POWERING GROWTH 1987 1994 2002 Yuhuan Zhejiang SUPOR Headquarters A Fascinating Pressure Cooker Factory SUPOR Cookware in Hangzhou Journey 2004 2006 2009 Listing on Shenzhen Groupe SEB becoming Shaoxing Supor Stock Exchange majority shareholder Electric Appliances 14/12/2023 4
Slide 5: Improving Chinese consumers' everyday life
SUPOR, INNOVATION POWERING GROWTH Improving From To To Chinese Cookware Kitchen Electric Appliances Home Care consumers’ everyday life From To Anytime, Cities Villages Anywhere 14/12/2023 5
Slide 6: An amazing success story
SUPOR, INNOVATION POWERING GROWTH An amazing success story € 2,1bn ~ 70% #1 #1 Domestic sales Share of Supor’s sales In Cookware In Kitchen Electrics vs €145m in 2006 achieved online MS ~35%, MS ~25%, +5pts vs 2010 +12pts vs 2010 38 89% 5 ~20k Categories Brand awareness Plants in China Active patent
Slide 7: Getting better and stronger over the past decade
SUPOR, INNOVATION POWERING GROWTH Offline Share #2 Online Share #1 60 30 30 15 Getting better Kitchen 25% Supor #2 Brand #3 Brand Supor #2 Brand #3 Brand and stronger Electric 0 0 Market share 2010 2023 2015 2023 over the past Offline Share Undisputed #1 Online Share Undisputed #1 decade 60 30 30 15
Slide 8: Why Supor is more resilient to market turbulence?
SUPOR, INNOVATION POWERING GROWTH Grow share in non- Agile in capturing new discretionary categories category opportunities - Rice Cooker – Air Fryer Why Supor is more resilient to market #1 #1 turbulence? #2 30 % 16 % 29 % 2019 2022 2019 2022 14/12/2023 8
Slide 9: Supportive structural market fundamentals
SUPOR, INNOVATION POWERING GROWTH Supportive structural market fundamentals 14/12/2023 9
Slide 10: Supportive fundamentals for long-term growth
SUPOR, INNOVATION POWERING GROWTH Supportive fundamentals for long-term growth Favorable Evolving lifestyle Product demographic increasing category renewal to drive trends penetration premiumization 14/12/2023 10
Slide 11: Urban population renewing their home
SUPOR, INNOVATION POWERING GROWTH +9m / year Urban population renewing their home Urban % Urban population 1 300 80 1 200 71 1 100 64 70 1 000 60 900 50 50 800 700 36 40 600 500 990 902 30 400 300 670 20 458 Rural Urban 200 10 100 0 0 2000 2010 2020 2030 F 14/12/2023 Source: National Bureau of Stati
Slide 12: Middle class driving premiumization
SUPOR, INNOVATION POWERING GROWTH +8m / year Middle class driving premiumization Middle class population 842 759 2020 2030F 14/12/2023 Source: BCG (2021) 12
Slide 13: Households growing +2.5m per year
SUPOR, INNOVATION POWERING GROWTH What matters most to our industry is the number of households +2.5m households / year # of households 564 539 433 242 368 242 264 >= 3 People 275 322 297 168 1-2 People 93 2000 2010 2020 2030F 14/12/2023 Source: National Bureau of Statistics, Supor analysis 13
Slide 14: Stylish design and better user experience drive premiumization
SUPOR, INNOVATION POWERING GROWTH #1 Fast Stylish design Hitlist above Multiple Cooker RMB 1,000 and better user RMB 1,299 experience drive premiumization Traditional Fast Inspired Electric Pressure Cooker Multiple Cooker by Cookeo RMB 359 RMB 699 Design 14/12/2023 14
Slide 15: Category penetration is far from saturation
SUPOR, INNOVATION POWERING GROWTH # of SDA products per household Category 26 penetration is 22 far from 16 saturation 10 China Germany France Japan 14/12/2023 Source: AVC, 2020 15
Slide 16: Evolving middle class lifestyle creating new demand
SUPOR, INNOVATION POWERING GROWTH Evolving middle class lifestyle creating new demand 14/12/2023 16
Slide 17: Supor's growth strategy and winning formula
SUPOR, INNOVATION POWERING GROWTH Supor's growth strategy and winning formula 14/12/2023 17
Slide 18: Supor's growth strategy
SUPOR, INNOVATION POWERING GROWTH Supor’s growth strategy Grow share Enter Extend reach to in existing categories new categories wherever consumers shop 14/12/2023 18
Slide 19: A war machine constantly renewing itself
SUPOR, INNOVATION POWERING GROWTH Unique and agile innovation model OUR WINNING FORMULA Strong brand with best “Word of Mouth” A war machine constantly Ability to transform Go-to-Market strategy one step ahead renewing itself World class industrial competitiveness Relentless army with hard-to-match
Slide 20: A unique innovation model
SUPOR, INNOVATION POWERING GROWTH Innovation with strong consumer insights Creating Build scale demand with and grow unrivalled A unique share Premiumize & marketing engine innovation model Democratize Reaching the Democratize mass through innovation strong at accessible distribution price 14/12/202
Slide 21: Cost down at speed
SUPOR, INNOVATION POWERING GROWTH 2020 2023 2022 Cost down at speed Allowing more consumers to enjoy innovation 2M + at accessible Units sold price -50 % cost reduction RMB 1,299 RMB 999 RMB 399 on the removable blade 14/12/2023 21
Slide 22: A few examples of "Million Club" iconic products
SUPOR, INNOVATION POWERING GROWTH A few examples of "Million Club" iconic products SINCE 2007 SINCE 2009 SINCE 2013 SINCE 2015 SINCE 2019 SINCE 2020 SINCE 2022 Anti-rust Thermo-spot Spherical Blue-eye fast Steam Detachable High Far infrared iron wok wok pot Rice Cooker Pressure Cooker baking pan Spe
Slide 23: Agility and speed in capturing new trends and categories
SUPOR, INNOVATION POWERING GROWTH Enter market through OEMs Agility and speed Product leadership Fast & strong in capturing new and grow share Build distribution & trends and Innovate categories Launch Insourcing innovation 14/12/2023 23
Slide 24: Robust patent protection & superior product quality
SUPOR, INNOVATION POWERING GROWTH Active Patent Superior quality Numbers standard Robust patent 0.80% protection +270% 20 616 Industry leading return rate & superior product quality > 4M reviews 99.6% 5 576 captured yearly in Voice 2018 2022 of Customer Positive reviews 14/12/2023 Patents include Ch
Slide 25: Outstanding speed in turning innovative ideas into products
SUPOR, INNOVATION POWERING GROWTH 18 Months 8 Months 4 Months Outstanding speed in turning innovative ideas into products Far Infrared Far Infrared Fast pressure release Electric Rice Cooker Air Fryer Pressure Cooker Breakthrough technology platform Adapting Far infrared platform Upgrade from existi
Slide 26: Gaining traction in Home Care and still long runway to grow
SUPOR, INNOVATION POWERING GROWTH Home Care sales 2x 80% Gaining traction of Home Care market is online #1 online #2 online in Home Care Steam irons Garment steamers and still long runway to grow #2 online Penetrating 2019 2023 Versatile Floor washers 14/12/2023 Source: AVC 26
Slide 27: Strong brand and best "Word of Mouth"
SUPOR, INNOVATION POWERING GROWTH Trusted SDA brand 89% Brand awareness Strong brand 79% and best #2 brand 71% “Word of Mouth” #3 brand 67% Our consumer is 66% our “Brand Ambassador” #4 brand #5 brand 61% 14/12/2023 Source: IPSOS, 2023. SDE Brands 27
Slide 28: A distinct online store footprint on marketplaces
SUPOR, INNOVATION POWERING GROWTH 2019 2023 Extensive store matrix allowing #1 67 145 us to capture unpaid traffic A distinct online store #1 61 124 Well-defined category management footprint on executed through store segmentation Marketplaces #1 PinDuoDuo 33 118 Industry leading supply chain and di
Slide 29: Unrivalled marketing engine
SUPOR, INNOVATION POWERING GROWTH Unrivalled marketing engine > 3,000 > 400 > 310,000 Influencers Online stores Videos per year > 25,000 > 2,000 > 2.8bn Livestreams per year Livestream session weekly Views per year (12 hours per session) 14/12/2023 29
Slide 30: Powerful CRM enables direct communication with over 45m consumers
SUPOR, INNOVATION POWERING GROWTH Powerful CRM enables direct communication with over 45m Qualified loyalty consumers > 20m Social media followers > 25m members > 200 Attributes 14/12/2023 30
Slide 31: World class industrial competitiveness
SUPOR, INNOVATION POWERING GROWTH World class industrial competitiveness 14/12/2023 31
Slide 32: Exceptional ability to cultivate top talents
SUPOR, INNOVATION POWERING GROWTH Top 20 Senior Managers with average Proven track record growing people of 20 years of service from grassroot with real combat experience Exceptional Average age of new hires over last 3 years <30 ability to cultivate SDA BU GM, 20 yrs Shaoxing GM, 32 yrs Consistency
Slide 33: A long runway for growth
SUPOR, INNOVATION POWERING GROWTH Favorable Unique and agile innovation model demographic trends Grow share Strong brand with best “Word of Mouth” in existing categories A long runway Evolving lifestyle increasing category Ability to transform Go-to-Market for growth strategy one step ahead penetrat
Slide 34: Thank You
Thank You 谢谢
Slide 35: Disclaimer
SUPOR, INNOVATION POWERING GROWTH 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 c