Groupe Seb: good trend for Consumer business

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Groupe Seb sales in the first quarter of 2021 amounted to 1,852 million euro, up 27.4% as compared to the first quarter of 2020. This improvement includes like-for-like growth of 30.9% (+449 million euro), a currency effect of -5.6% (-81 million euro) and a scope effect of +2.1% (+ 30 million euro related to StoreBound).

This good performance was driven by the Consumer business, up 39.1% LFL, resulting from acombination of several positive factors, such as: a very firm demand for small domestic appliances and cookware; continued solid momentum in online sales, which is sustained, an overall less promotional environment, reflected in quality sales, low comparative basis resulting from the very penalizing effect on the activity from lockdown measures implemented at the onset of Covid-19 epidemic in the first quarter 2020.

The Professional business, instead, recorded a decline in turnover of 26.2% LFL compared with a first quarter 2020 that was less impacted by the Covid-19 crisis than the Consumer business. This marked decrease in sales is directly linked to the persistent difficulties in the hospitality and catering sector, which is still largely under lockdown at this stage.

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