Groupe SEB confirmes rebound in business

Stanislas de Gramont, CEO of Groupe SEB

Groupe Seb nine-month sales achieved 5,532 million euro, recording an increase of 3.9% LFL and -0.5% reported. Third-quarter sales reached 1,920 million euro, +8.9% LFL and +1.4% reported.

«Groupe SEB – commented the ceo Stanislas de Gramont – maintains its momentum for a return to historical profitability levels. Our third-quarter performance is fully in line with the rebound trend anticipated at the start of the year, and confirmed in the second quarter, both in terms of sales growth and improved profitability. Our consumer business delivered solid organic growth in sales, on a par with that of the second quarter, driven by our innovation initiatives across all our regions».

The CEO added: «the global small domestic equipment market continued its normalization to underpin this trajectory. Our professional business posts very good results thanks to record sales in coffee. The Group enjoyed a number of commercial successes in 2023 with, in particular, the roll-out of major contracts, as well as a solid core business».

The company confirm its objectives for the full year, respectively mid-single digit organic revenue growth and an increase in Operating Result from Activity of at least 10%.