Groupe SEB reported its final 2018 results. The Groupe’s sales reached 6,812 million euro, increasing by 5.1% (+7.8% like-for-like).
«In an overall environment that was more complicated than expected – comments the Chairman and CEO, Thierry De La Tour d’Artaise – Groupe SEB delivered a good 2018 performance, with organic growth of nearly 8%, an Operating Result from Activity up 2.5% – despite negative commodity and currency effects of more than 100 million euro – and a Net Profit above 400 million euro for the first time. Continued debt reduction reflected in a net debt / adjusted EBITDA ratio below 2 at end-December, in line with the target we had set.»
Good results were recorded in China, where Supor continues to outperform a still promising market; Japan, South Korea, Central Europe, Ukraine and Russia. On the activity side, the dynamic was robust in Floor Care, Electrical Cooking, Food Preparation and Professional Coffee. Lastly, e-commerce was a strong contributor to the increase in sales and now accounts for nearly 25% of Group revenue.
«Our profitable growth strategy – Thierry De La Tour d’Artaise explains – which is based on the strength of our brand portfolio, solid product momentum, and a foothold in all distribution channels across the globe gives us a major competitive advantage. This strategy is implemented daily by our dedicated teams who are always ready to meet new challenges. I would like to thank them for their professionalism and commitment. This strategy is designed for the long-term through a responsible approach on the social, societal and environmental fronts which is widely recognized and creates value for everyone. 2019 has started with an environment that remains uncertain. Yet the Group is well prepared and aims in 2019 to achieve further organic sales growth and improve Operating Result from Activity.»
