Groupe SEB closed the first 2014 half with an organic revenue growth of 4.7%, an operating result from activity of 138 million euro at constant exchange rates and 91 million euro on a reported basis, solid cash generation from operations of 91 million euro. “Results in line with forecast – Thierry de La Tour d’Artaise, chairman and chief executive officer of Groupe SEB, commented – with sustained organic growth in revenue, led by innovation and international expansion, and operating result from activity stable on a like-for-like basis but sharply down after taking into account the currency effect. Indeed, as expected, the sharp declines in many currencies against the euro significantly impacted results”.
The company recorded good performances in Europe and China, while some unexpected difficulties occurred in Japan and Russia. For the future, Group Seb will go on focusing on a constant innovation activity and foresees an improvement in these two countries.
“For the coming months – Thierry de La Tour d’Artaise explains – we anticipate that the environment will be slightly more favourable in Russia and Japan and that the pace of growth will pick up in France and the United States. Once again, we can rely on the powerful, on-going innovation dynamic that shaped the first half. In addition, we can expect to benefit from slightly less unfavourable exchange rates. The resulting flexibility will enable us to provide greater support to our businesses in the most difficult markets. All in all, I am confident in the Group’s ability in 2014 to deliver sustained organic growth in revenue and a significant improvement – higher than in 2013 – in operating result from activity at constant exchange rates.”
