Q1 2016 Sales and Financial data: Very encouraging start to the year
April 28, 2016 at 11:49 am
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Sales: €1,115m, +2.3% and +5.1% like-for-like*
Operating Result from Activity: €93m, +1.4% and +50% like-for-like
Net financial debt: €184m, -€132m compared with end-2015
The first quarter of 2016 saw no major changes to the Group's consumer environment which remains highly contrasted, with a rather favorable situation in Europe and China, more modest growth in the United States, a lackluster context in Japan, and persistent crisis in Russia and Brazil. Exchange rates remained volatile and certain emerging currencies depreciated further against the euro versus the first quarter of 2015.
In this environment, Groupe SEB reported sales of €1,115m, up 2.3%. Adjusted for a negative currency impact of €39m and a scope effect of +€9m (OBH Nordica, not consolidated in first-quarter 2015), sales increased by 5.1% on a like-for-like basis. This sustained organic growth is to be put into perspective with the very robust performance in first-quarter 2015 (+9.4% growth like-for-like). It was fuelled by volumes and a substantial price-mix effect, reflecting price increases that were implemented to offset currency variations as well as our ongoing move up-market. It was also driven by the continued development of online sales in numerous markets, mature and emerging alike.
Operating Result from Activity (OrfA) at end-March amounted to €93m, equivalent to that in first-quarter 2015 (€92m). It included a negative currency effect of €45m, leading to an ORfA of €138m at constant exchange rates, for an organic growth of 50%. The scope effect on ORfA was neutral for the period.
At end-March, financial debt stood at €184m, down €132m on 2015 year-end, reflecting a sharp increase in cash generation over the quarter.
SEB SA issued this content on 28 April 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 28 April 2016 15:48:11 UTC
Original Document: http://www.groupeseb.com/en-en/node/48009?views=6
The world leader in Small Household Equipment, SEB S.A. relies on 35 flagship brands (Tefal, Seb, Rowenta, Moulinex, Krups, Lagostina, All-Clad, WMF, Emsa, Supor, etc.) and a broad product portfolio:
- cookware: frying pans, saucepans, pressure cookers, utensils, etc.;
- small culinary appliances: items for electric cooking (deep fryers, rice cookers, pressure cookers, etc.), beverage preparation (coffee makers, kettles, etc.) or food preparation (blenders, food processors, etc.);
- small non-culinary household appliances: linen care equipment (irons, steam generators, steamers, steamers, etc.), vacuum cleaners, fans, and personal care equipment (hairdressing and depilation appliances, etc.).
At the end of 2023, the group operated 41 manufacturing sites worldwide.
Net sales are distributed geographically as follows: Western Europe (34.1%), Europe/Middle East/Africa (15.2%), China (27.9%), Asia (7%), North America (10.9%) and South America (4.9%).