Seb Sa (SEBYF) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Welcome to the Group SEB 2026 First Quarter Sales Presentation. Today's conference will be hosted by Stanislas DeGraw-Mong, Chief Executive Officer, and Olivier Casanova, Senior Executive Vice President and Chief Financial Officer. For the first part of the conference call, the participants will be on listen-only mode. During the questions and answers session, participants are able to ask questions by dialing pound key 5 on their telephone keypad. Now I will hand the conference over to the speakers. Please go ahead. Good afternoon. Thank you for attending this call. I'm Stanislas de Gaumont. I will be managing this presentation together with Olivier Casanova, our CFO. We will start with a short presentation, I think, and then we'll carry on with answering all the questions you may have. Olivier, do you want to get started? Okay. Thank you, Stanislas. So moving on to the key figures for the quarter. Our sales stood at 1,885,000,000, up 2.7% on a like-for-like basis. Offer stood at 72 million euros, up 42%, and operating margin was up 1.2 percentage point at 3.8%. So, moving on to the highlights on the next page, as I said, 2.7% organic growth. Of course, we have been operating in Q1 in an environment with a lot of uncertainty on the macroeconomic and geopolitical front. And, of course, it has deteriorated in the latter part of the quarter. We'll come back to that, no doubt, in the Q&A. In this environment, however, we have delivered balanced growth between activities and region, driven in large part by our innovation portfolio. OFA has increased year on year, of course, supported by a favorable base effect because the Q1 OFA of last year was low by historic standards, but also supported by organic sales growth and a decrease in operating expense. And finally, we have ...