Seb Sa · EURONEXT:SK
Seb Sa — Groupe SEB — FY2022 Earnings Presentation
92 slides from Seb Sa's earnings presentation, Feb 23, 2023
Slide 1: 2022 Full-Year Results
2022 FULL-YEAR RESULTS Paris | February 23, 2023 Listen to the webcast of the meeting here or at www.groupeseb.com
Slide 2: Note
2022 FULL-YEAR RESULTS NOTE This presentation may contain certain forward-looking statements regarding Groupe SEB’s activity, results and financial situation. These forecasts are based on assumptions which seem reasonable at this stage, but which depend on external factors including trends in commod
Slide 3: Sommaire
SOMMAIRE 1. Introduction 2. Key operational highlights 3. Key ESG highlights 4. Key financial highlights 5. Conclusion & Outlook 6. Appendices
Slide 4: Introduction
01 INTRODUCTION
Slide 5: 2022 Key figures (1/2)
2022 Key figures (1/2) Sales ORFA €620m €7,960m ORFA Margin 7.8% -4.7% LFL -230 bps Adjusted EBITDA Net profit €875m €316m -16% -30% 2022 vs 2021 5 02/23/2023 2022 Full-year results
Slide 6: 2022 Key figures (2/2)
2022 Key figures (2/2) CAPEX Inventories €345m €1,682m 4.3% of sales 21% of sales Net financial debt Dividend * €1,973m €2.45 Leverage 2.3x Stable vs 2021 2022 vs 2021 * to be proposed at AGM of May 17, 2023 6 02/23/2023 2022 Full-year results
Slide 7: A longstanding growth strategy based on a comprehensive product range
A longstanding growth strategy based on (1) a comprehensive product range Multi-categories / activities COOKWARE / KITCHENWARE KITCHEN ELECTRICS HOME AND PERSONAL CARE PROFESSIONAL 7 02/23/2023 2022 Full-year results
Slide 8: The industry's most powerful portfolio of brands
(2) The industry’s most powerful portfolio of brands Multi-brands CONSUMER PREMIUM GLOBAL LOCAL PROFESSIONAL 8 02/23/2023 2022 Full-year results
Slide 9: A unique global presence
(3) A unique global presence Multi-countries Other Asia 8% Western Europe 35% 150 countries China 27% €7,960m Leadership positions #1 or #2 > 75 % sales South America 4% Other EMEA 13% North America 13% 9 02/23/2023 2022 Full-year results
Slide 10: A best in class multi-channel distribution capability
(4) A best in class multi-channel distribution capability Multi-channels* Online ~ 40% Mass retail ~15 % Traditional ~15 % Specialists ~ 15% Group retail ~ 5% Other ~ 10% 10 02/23/2023 2022 Full-year results * Split of Group’s consumer sales
Slide 11: Key Operational Highlights
02 KEY OPERATIONAL HIGHLIGHTS
Slide 12: Key operational highlights in 2022
Key operational highlights in 2022 Ongoing strong product dynamics Efficient brand leverage Enhanced international presence Continued inroads in terms of distribution Continued investments in Group’s competitiveness 12 02/23/2023 2022 Full-year results
Slide 13: Key operational highlights in 2022
Key operational highlights in 2022 Ongoing strong product dynamics Efficient brand leverage Enhanced international presence Continued inroads in terms of distribution Continued investments in Group’s competitiveness 13 02/23/2023 2022 Full-year results
Slide 14: Innovation remains a key differentiation lever and growth driver
Innovation remains a key differenciation lever and growth driver ▪ In the Consumer business, priority domains around: • Smart small electrical appliances offering new functionalities and enhancing well-being • Consumer experience, from purchase to the end-of-life of the products • Consumer engagemen
Slide 15: Oil less fryers, a major growth driver in 2022
Oil less fryers, a major growth driver in 2022 2022 OLF sales x4 2019 15 02/23/2023 2022 Full-year results
Slide 16: Continued international roll-out of best-selling products
Continued international roll-out of best-selling products High-end +70% Cookeo Touch growth in 30% of Cookeo > 25% versatiles over sales in 2022 household last 3 years (x2 vs 2020) penetration in France and Japan
Slide 17: Successful product launches
Successful product launches 12% of RC sales in 2022 Black knives collection (DLC* technology) Rice cooker with Far Infrared Technology Latest Tefal ceramic range 17 02/23/2023 2022 Full-year results * DLC = Diamond Like Coating
Slide 18: Successful product launches
Successful product launches Over 1,000 premium « World of Coffee » POS, o/w 75% in Germany
Slide 19: Strong momentum in Professional Coffee
Strong momentum in Professional Coffee WMF 9000S+ WMF 1500S WMF 1100S WMF BARISTA
Slide 20: Continued fast development for Schaerer
Continued fast development for Schaerer Luckin Coffee #1 Coffee shop chain in China >8,000 POS at end-2022 20 02/23/2023 2022 Full-year results
Slide 21: Acquisition of Zummo, the global leader in juice extraction
Acquisition of Zummo, the global leader in juice extraction FY 2022 sales €25m 21 02/23/2023 21 02/23/2023 2022 Full-year results
Slide 22: Acquisition of La San Marco, the Italian icon of coffee machines
Acquisition of La San Marco, the Italian icon of coffee machines
Slide 23: A true complement to the Group's existing offering in PCM
A true complement to the Group’s existing offering in PCM ▪ Manufacturing and marketing a wide range of professional coffee machines ▪ 100 years of innovation, combining advanced technology and tradition ▪ World leader of traditional lever-operated machines ➔ Exclusive international Leva CLASS® pate
Slide 24: Key operational highlights in 2022
Key operational highlights in 2022 Ongoing strong product dynamics Efficient brand leverage Enhanced international presence Continued inroads in terms of distribution Continued investments in Group’s competitiveness 24 02/23/2023 2022 Full-year results
Slide 25: Our €2bn+ brands
Our € 2bn+ brands 25 02/23/2023 2022 Full-year results
Slide 26: Global brands
#1 Global leader in Linen Care with Rowenta and Tefal brands 26 23/02/2023 Résultats annuels 2022 Global brands
Slide 27: Global brands
#2 Global brand in Food Preparation (excluding the US) 27 23/02/2023 Résultats annuels 2022 Global brands
Slide 28: Strongly-rooted local brands
Strongly-rooted local brands #1 Brand in Colombia 89% brand awareness 60% market share in Cookware in 2022 23% market share in Blenders in 2022
Slide 29: Strongly-rooted local brands
Strongly-rooted local brands 70th anniversary of the Seb Pressure cooker 29 23/02/2023 Résultats annuels 2022
Slide 30: Premium brands
Premium brands 30 23/02/2023 Crafted with passion to ignite yours Résultats annuels 2022
Slide 31: Premium brands
Premium brands 31 02/23/2023 2022 Full-year results
Slide 32: Premium brands
Premium brands 32 02/23/2023 2022 Full-year results
Slide 33: Key operational highlights in 2022
Key operational highlights in 2022 Ongoing strong product dynamics Efficient brand leverage Enhanced international presence Continued inroads in terms of distribution Continued investments in Group’s competitiveness 33 02/23/2023 2022 Full-year results
Slide 34: Deep dive into China: an ongoing success story for the Group
Deep dive into China: an ongoing success story for the Group 2022 sales: €2,101m, +5% LFL vs 2021 84% (vs €145m in 2006) brand awareness 34 02/23/2023 2022 Full-year results
Slide 35: Supor's leadership positions in China (1/2)
Supor’s leadership positions in China (1/2) Kitchen Electrics Supor now # 1 (online + offline) with 25% market share 40%: share of new products in KE sales 35 02/23/2023 2022 Full-year results
Slide 36: Supor's leadership position in China (2/2)
Supor’s leadership position in China (2/2) Cookware Supor clear # 1 (online + offline) with 35% market share 36 02/23/2023 2022 Full-year results
Slide 37: A highly-competitive manufacturing base
A highly-competitive manufacturing base ▪ 5 state-of-the-art plants in China + 1 in Vietnam ➔ Cookware: Wuhan, Yuhuan, Vietnam ➔ SDA: Hangzhou, Shaoxing ➔ LKA: Shaoxing More than ▪ ~12,000 employees o/w ~10,000 factory workers 150m unit production capacity 37 02/23/2023 2022 Full-year results
Slide 38: Impactful online activation
Impactful online activation ~70% of sales achieved online More than 2,300 influencers 64% penetration of O2O* stores ~22k O2O stores* 38 02/23/2023 2022 Full-year results O2O = Online-to-Offline ➔ T-Mall, JD, Suning
Slide 39: A short video to illustrate our success in China
A short video to illustrate our success in China Click here to watch the video 39 02/23/2023 2022 Full-year results * 4 SUPOR products are sold around the world every second
Slide 40: A successful roll-out of our multi-local strategy
A successful roll-out of our « multi-local » strategy From fast growing markets … to significant growth engines Colombia Mexico Poland 3-year sales CAGR: 12% 3-year sales CAGR: 13% 3-year sales CAGR: 9% #1 CKW #1 CKW #1 CKW #2 SDA #2 SDA #4 SDA ▪ All three countries belonging to top 20 in consumer b
Slide 41: Strong momentum in the Professional business
Strong momentum in the Professional business ▪ All three major regions – North America, Europe and Asia – have significant growth potential in PCM ▪ FY 2022 performance highlights: • Double digit growth in Asia thanks to China’s high performance with Luckin Coffee • Strong rebound in the US with Wil
Slide 42: Key operational highlights in 2022
Key operational highlights in 2022 Ongoing strong product dynamics Efficient brand leverage Enhanced international presence Continued inroads in terms of distribution Continued investments in Group’s competitiveness 42 02/23/2023 2022 Full-year results
Slide 43: Continuous development of online sales
Continuous development of online sales Pure players Click&mortar Net Sales per Distribution channel – Consumer 2022 Group’s estimates Other Group retail Offline Online ~ 60 % ~ 40 % Mass retail D2C Marketplaces Specialists Traditional 43 02/23/2023 2022 Full-year results
Slide 44: Growing our online D2C capability
Growing our online D2C capability 70 Brand.com websites at end-2022 > 55m visitors + 20 openings 44 02/23/2023 2022 Full-year results
Slide 45: Key operational highlights in 2022
Key operational highlights in 2022 Ongoing strong product dynamics Efficient brand leverage Enhanced international presence Continued inroads in terms of distribution Continued investments in Group’s competitiveness 45 02/23/2023 2022 Full-year results
Slide 46: A unique well-balanced and flexible industrial footprint
A unique well-balanced and flexible industrial footprint GERMANY Emsdetten FRANCE St Lô Vernon Diez Mayenne Geislingen CHINA ▪ A global and Pluguffan Hayingen Is/Tille Selongey Tournus balanced presence Rumilly Riedlingen Taicang Pont Evêque Marigny RUSSIA Shaoxing LKA to better serve our Shaoxing S
Slide 47: Groupe SEB consolidates its business in the DACH region
Groupe SEB consolidates its business in the DACH region ▪ Target organisation will consist of: ▪ One single market company for the Consumer business in DACH ▪ One strategic marketing entity to develop WMF’s product range and brand worldwide ▪ Accounting activities to be integrated into Groupe SEB’s
Slide 48: Investing to optimize our supply chain: the Bully-les-Mines warehouse
Investing to optimize our supply chain: the Bully-les-Mines warehouse ▪ A 100 000m² logistics platform in the north of France dedicated to Western European markets • Operated by a logistics service provider, partner of Groupe SEB • Improve stock rotation, customer services, operational efficiencies
Slide 49: Key ESG Highlights
03 KEY ESG HIGHLIGHTS
Slide 50: ESG achievements - Environment
ESG achievements - Environment Pursuing our Carbon Neutral Trajectory (by 2050) Scope 1 & 2 2018 2019 2020 2021 2022 - 34 % carbon intensity* -12% -14% reduction in -21% our plants -23% -34% (base line 2016) * Carbon intensity by product 50 02/23/2023 2022 Full-year results
Slide 51: ESG achievements - Environment
ESG achievements - Environment Focus on circular economy 90 % 42 % of our SDA products* of recycled materials are repairable in our for 15 years products/packaging 51 02/23/2023 2022 Full-year results * Excluding China
Slide 52: ESG achievements - social
ESG achievements - social Focus on people Lost time Women injury rate manager ratio = 0.84 = 95 % 2,6 91% 95% 89% 90% 89% 2,0 % women in the Group 1,5 42% 43% 43% 43% 42% 1,1 0,8 40% 41% 38% 38% 38% % women manager 2018 2019 2020 2021 2022 2018 2019 2020 2021 2022 52 02/23/2023 2022 Full-year result
Slide 53: Acting for environment and people
Acting for environment and people 2 awards in 2022 SDA repair center for all SEB brands Two objectives ▪ Circular economy ▪ Professional reintegration 53 02/23/2023 2022 Full-year results
Slide 54: Extra-financial performance
Extra-financial performance A– Top 8% of 20,000 companies Top 3% of 90,000 companies 65/100 #1 in sector For > 10 years 54 02/23/2023 2022 Full-year results
Slide 55: Change in Corporate Governance
Change in Corporate Governance / Dissociation of functions as of July 1st, 2022 Thierry de La Tour d’Artaise Stanislas de Gramont Chairman Chief Executive Officer 55 02/23/2023 2022 Full-year results
Slide 56: Strategic Committee Creation in July 2022
Strategic Committee Creation in July 2022 Committee Chairman T. de La Tour d’Artaise Peugeot BPI France FSP Invest T. Lescure W. Gairard C. Pourre A. Guérin B. Finet Main responsibilities ▪ CSR ▪ Strategy ▪ M&A ▪ Competitive intelligence Family Independent members members 56 02/23/2023 2022 Full-yea
Slide 57: ESG share increase in variable compensation
ESG share increase in variable compensation 15 % Three quantitative criterias share of ESG criterias in variable ▪ Carbon / Environment compensation ▪ Health & Safety (x 3 versus 2021) ▪ Ethics / Compliance 57 02/23/2023 2022 Full-year results
Slide 58: Key Financial Highlights
04 KEY FINANCIAL HIGHLIGHTS /
Slide 59: Sales / Results
1 Sales 2 Results 59 02/23/2023 2022 Full-year results
Slide 60: Sales growth 2021 to 2022
Sales growth 2021 ➔ 2022 in €m 8,059 7,960 -378 +10 +269 Organic Currency Scope growth effect -4.7% +3.3% +0.1%* -1.2% 2021 2022 * Including Zummo consolidated in Q4 2022 60 02/23/2023 2022 Full-year results
Slide 61: Currency impact on 2022 sales
Currency impact on 2022 sales In €m 200 + €269m Q1: +€56m 150 Q2: +€81m Q3: +€92m 100 Q4: +€40m 50 0 - 50 - 100 61 02/23/2023 2022 Full-year results
Slide 62: 2022 sales
2022 sales Sales €7,960m -1.2% -4.7% LFL Professional Consumer €725m €7,234m +15.6% +19.2 % LFL -2.6% -5.9% LFL 62 02/23/2023 2022 Full-year results
Slide 63: Full-year sales bridge 2021 to 2022
Full-year sales bridge 2021 ➔ 2022: more insight on a resilient sales performance En M€ 8,059 7,960 -312 98 -49 241 -77 France/Germany Russia/Ukraine China Professional Other -3.8% -1.0% +3.0% +1.2% -0.6% -1.2% 2021 2022 NB: the respective percentages of each category indicated in the bridge represe
Slide 64: Sales / Results
1 Sales 2 Results 64 02/23/2023 2022 Full-year results
Slide 65: Operating Result From Activity (ORFA)
Operating Result From Activity (ORFA) In €m 2020 2021 2022 2022 vs. 2021 Sales 6,940 8,059 7,960 -1.2% ORFA 605 813 620 -23.7% Op. margin 8.7% 10.1% 7.8% -2.3 pts 65 02/23/2023 2022 Full-year results
Slide 66: ORFA bridge with H1 / H2 phasing
ORFA bridge with H1 / H2 phasing In € m +598 -367 813 -359 -3 -21 661 620 -41 Cost of sales 0 Growth Sales, general drivers and administrative Currencies Scope expenses effect Volumes Price mix Phasing -3 - 21 +58 +24 -61 -45 2021 H1 H2 H1 H2 2022 2022 LFL 66 02/23/2023 2022 Full-year results
Slide 67: Cumulative headwinds over 2021 and 2022
Cumulative headwinds over 2021 and 2022 In € m 41 569 91 Raw materials & components Freight 137 Currency 153 25 300 122 2021 2021+2022 67 02/23/2023 2022 Full-year results
Slide 68: Growth drivers
Growth drivers In €m 2020 2021 2022 2022 vs. 2021 Innovation 228 266 283 +6.4% Advertising and marketing 472 572 584 +2.1% Total growth drivers 699 838 867 +3.5% 68 02/23/2023 2022 Full-year results
Slide 69: Operating profit
Operating profit In €m 2020 2021 2022 2022 vs. 2021 ORFA 605 813 620 -23.7% Employee profit-sharing -24 -39 -18 Other operating income and -78 -59 -55 expense Operating profit 503 715 547 -23.5% 69 02/23/2023 2022 Full-year results
Slide 70: Net profit
Net profit In €m 2020 2021 2022 2022 vs. 2021 Operating profit 503 715 547 -23.5% Financial result -60 -65 -81 Tax -94 -142 -98 Non-controlling interests -48 -54 -52 Net profit 301 454 316 -30.4% 70 02/23/2023 2022 Full-year results
Slide 71: Simplified balance sheet
Simplified balance sheet In €m 2020 2021 2022 Fixed assets 4,250 4,444 4,651 Operating WCR 848 1,115 1,393 Total assets to be financed 5,098 5,559 6,044 Equity 2,735 3,291 3,449 Provisions 454 394 284 Other current assets and liabilities 391 350 338 Net financial debt 1,518 1,524 1,973 Total financi
Slide 72: Change in the operating WCR
Change in the operating WCR 2020 2021 2022 22 vs 21 €m % sales €m % sales €m % sales €m Inventories 1,212 17.4% 1,840 22.8% 1,682 21.1% -158 Receivables 841 12.1% 789 9.8% 645 8.1% -144 Payables -1,205 -17.3% -1,514 -18.8% -933 -11.7% +581 WCR 848 12.2% 1,115 13.8% 1,393 17.5% 278 WCR as % of sales:
Slide 73: WCR/sales ratio over a long period
WCR/sales ratio over a long period 24,8% 22,7% 22,4% 21,2% 18,5% 18,8% 17,5% 16,5% 16,5% 13,8% 12,2% 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 73 02/23/2023 2022 Full-year results
Slide 74: Free cash flow generation
Free cash flow generation In €m +254 +874 -285 +620 -345 D&A/employee profit- sharing Chg. H1: - €683m Operating WCR H2: +€663m -186 Capex -79 -20 Tax and interest Chg. Non- operating WCR and ORFA Adjusted others Free cash EBITDA flow 74 02/23/2023 2022 Full-year results
Slide 75: Change in net financial debt
Change in net financial debt In €m +197 1,973 +28 +204 Other* 1,524 +20 Currencies Dividend Free cash flow Net financial debt Net financial debt 12/31/2021 12/31/2022 *Incl. acquisitions, restructuring, share buybacks 75 02/23/2023 2022 Full-year results
Slide 76: Net financial debt at December 31, 2022
Net financial debt at December 31, 2022 2,745 -1,301 ▪ Diversified sources of Local debt 52 financing ▪ Undrawn syndicated credit line: Bonds 1,000 €990m 158 1,973 ▪ > €750m unused under the NEU 371 CP and NEU MTN programs Schuldschein Other non- ▪ LT / ST debt split = 75% / 25% 699 1,444 cash items
Slide 77: Financial ratios over a long period
Financial ratios over a long period 2,8 2,4 2,3 2,1 1,9 1,8 2,1 (exc. IFRS 16) 1,5 1,3 1,2 1,0 1,1 1,0 0,9 0,8 0,6 0,7 0,6 0,6 0,5 0,4 0,5 0,3 0,3 0,2 11 12 13 14 15 16 17 18 19 20 21 22 Net financial debt/Adjusted EBITDA Net financial debt/Equity Ratios at 12/31 77 02/23/2023 2022 Full-year results
Slide 78: Dividend trend over 15 years
Dividend trend over 15 years (in €) 2,45 2,45* Loyalty bonus: +10% 2,14 (for registered shares held for two 1,95 consecutive calendar years) 1,82 1,56 1,40 1,31 1,26 1,20 1,14 1,30 1,06 0,95 0,85 *Proposed at the AGM of 17 May 2023 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 202
Slide 79: Conclusion & Outlook
GROUPE CONCLUSION & OUTLOOK /
Slide 80: Confidence in the industry's long term growth prospects
Confidence in the industry’s long term growth prospects Supportive trends in mature and Favorable consumer behaviour emerging markets patterns over time Simplifying Everyday Life 80 02/23/2023 2022 Full-year results
Slide 81: Confidence in Groupe SEB's ability to continue to be a major driver
Confidence in Groupe SEB’s ability to continue to be a major driver Long term value creation track record Leading market shares worldwide Professional Innovation Sustainability 81 02/23/2023 2022 Full-year results
Slide 82: Outlook 2023
Outlook 2023 ▪ Slow start to the year ➔ Q1 expected down vs strong Q1 2022 ▪ Progressive recovery in Consumer sales ▪ Strong growth in Professional sales ▪ Increase in full-year Group ORFA margin 82 02/23/2023 2022 Full-year results
Slide 83: Appendices
06 APPENDICES
Slide 84: Group strength based on leading market shares globally
Group strength based on leading market shares globally #1 #1 #1 in Electrical in Linen Care in Cookware cooking #2 #3 in Food in Beverage Preparation Preparation 84 02/23/2023 2022 Full-year results
Slide 85: ORFA bridge with H1 / H2 phasing
ORFA bridge with H1 / H2 phasing In € m +598 -367 813 -359 -3 -21 661 620 -41 Cost of sales 0 Growth Sales, drivers marketing and Currencies Scope administrative effect Volumes Price expenses mix 2021 2022 2022 LFL H1 320 -149 +366 -189 -61 -45 242 -43 0 199 H2 493 -210 +232 -178 +58 +24 419 2 0 421
Slide 86: Total sales per region
Total sales per region Total sales Consumer sales Professional Consumer Other Asia 9% 91% 8% Western Europe 33% China €7,960m 29% €7,234m -4.7% LFL -5.9% LFL South America 4% Other EMEA 14% North America 11% 86 02/23/2023 2022 Full-year results
Slide 87: Annual sales by region
Annual sales by region In €m Q4 2022 2021 2022 As reported 2022 LFL LFL EMEA 3,892 3,444 -11.5% -11.1% -12.1% EMEA Western Europe 2,770 2,416 -12,8% -12.9% -14.6% Other countries 1,121 1,028 -8.4% -6.7% -5.7% AMERICAS 1,082 1,130 +4.5% -5.5% -3.9% AMERICAS North America 788 797 +1.1% -9.7% -10.2% So
Slide 88: 2022 quarterly sales
2022 quarterly sales Q4 2022 FY 2022 Q1.. Q2 H1 Q3 9m Q4 2022 In €m LFL LFL EMEA 813 680 1,494 809 2,302 1,142 -12.1% 3,444 -11.1% EMEA Western Europe 582 490 1,072 553 1,625 791 -14.6% 2,416 -12.9% Other countries 231 190 422 256 677 350 -5.7% 1,028 -6.7% AMERICAS 243 271 515 289 804 326 -3.9% 1,13
Slide 89: FY 2022 quarterly sales growth, LFL
FY 2022 quarterly sales growth, LFL Q1 2022 Q2 2022 H1 2022 Q3 2022 9 months Q4 2022 FY 2022 In €m LFL LFL LFL LFL 2022 LFL LFL LFL EMEA -4.8% -13.4% -8.9% -13.7% -10.6% -12.1% -11.1% Western Europe -3.2% -14.5% -8.7% -17.8% -12.0% -14.6% -12.9% EMEA Other countries -8.3% -10.6% -9.3% -3.3% -7.2% -5
Slide 90: 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 91: 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 92: Upcoming events – 2023
Upcoming events – 2023 AGENDA April 27 | after market Q1 2023 sales and financial data 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 92 02/23/2023 2022 Full-year results