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Friday 07 February 2025
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Groupe Seb reports full year sales up 3.2% at €8.266B, Professional business (coffee machines) posted annual sales of €975M, up 1.4%

The Professional business posted annual sales of €975m, down 4.5% organically, on the back of an exceptional comparison base in 2023 (+27%). This business encompasses Professional Coffee, which accounts for more than 90% of sales (including the WMF, a market leader in the professional fully automatic coffee machine sector, Schaerer, Wilbur Curtis and La San Marco brands), hotel equipment, Krampouz, Zummo and Pacojet. On a reported basis, sales grew 1.4% due to a scope effect related to the acquisitions of La San Marco and Pacojet in 2023 and Sofilac in 2024

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ECULLY, France – Groupe Seb reported yesterday – January 23, 2025 – provisional results for Q4 and full year 2024 showing robust annual performance in line with expectations, steady organic growth in the Consumer segment, consolidation at high levels in the Professional business. Full-year sales: €8,266M +5.0% LFL (+3.2% reported)

Throughout 2024, Groupe SEB achieved sales of €8,266 million, with organic growth of 5.0% (+3.2% on a reported basis). This performance includes a scope effect of 0.8% linked to the acquisitions of La San Marco, Pacojet, Forge Adour and Sofilac.

The currency effect, although still visible, with a negative impact of -2.6 points over 12 months (-€205m), gradually eased off toward the end of the year (-€38m in the fourth quarter). Additionally, it proves to be half as significant as in 2023.

In the fourth quarter, growth stood at 3.6% LFL. The Consumer division maintained its strong momentum, while the Professional business remained marked by a high basis of comparison.

Over 12 months, Consumer reported robust growth, with organic sales up 6.3% to €7,291m. This performance was consistent throughout the year, thanks to organic growth of over 5% in each quarter.

In a complex geopolitical and macroeconomic environment, the Small Domestic Equipment markets were buoyant overall, notably driven by innovations. Over the year, the Group confirmed its return to solid growth in Western Europe and North America, while continuing its double-digit expansion in Eastern Europe and South America. In China, Supor continued to gain market share, despite a slight decline in annual sales in a still-weak market. Supor thus confirmed its leadership in its key culinary categories. In Asia excluding China, the region posted a slight increase over the year.

Overall, Groupe SEB recorded growth in multiple geographical regions, with strong organic growth of 9% excluding China.

This positive momentum is reflected in all product categories, all of which reported growth in 2024. This was due in particular to good growth in cookware and the success of innovations such as versatile vacuum cleaners, oil-less fryers, garment steamers and full auto coffee machines.

Consumer sales in 2024 exceeded the record level of 2021, a year characterized by over-equipment linked to the Covid period, thus confirming the market’s growth fundamentals.

For the Professional division, sales amounted to €975m, up 1.4% on a reported basis and down 4.5% organically, on an exceptional comparison base in 2023 (+27% LFL). 2024 remains the second-best year on record in terms of sales for Professional Coffee, despite lower deliveries for large deals. The good level of the core business, up by around 7%, was underpinned by sustained sales momentum, notably with new customers in Mexico and China.

The year 2024 was also marked by further strategic reinforcement in professional culinary with the acquisition of Sofilac in April, which specializes in high-end cooking equipment under the Charvet and Lacanche brands. This active strategy continues into 2025 with the announcement on January 22nd of the acquisition of La Brigade de Buyer, which brings together the De Buyer, Sabatier and 32 Dumas brands, symbols of excellence in cookware and cutlery. La Brigade de Buyer had annual sales of €66m in 2024, half of which were generated internationally.

Groupe Seb: Professional Business

Groupe Seb

The Professional business posted annual sales of €975m, down 4.5% organically, on the back of an exceptional comparison base in 2023 (+27%). This business encompasses Professional Coffee, which accounts for more than 90% of sales (including the WMF, a market leader in the professional fully automatic coffee machine sector, Schaerer, Wilbur Curtis and La San Marco brands), hotel equipment, Krampouz, Zummo and Pacojet.

On a reported basis, sales grew 1.4% due to a scope effect related to the acquisitions of La San Marco and Pacojet in 2023 and Sofilac in 2024.

The organic downturn remained pronounced in the fourth quarter, at -12% LFL, an improvement compared to the third quarter (-22% LFL). As announced, this was due to the combination of high delivery volumes under large deals in both China and the United States in the second half of 2023.

2024 was the second-best year on record in terms of sales for Professional Coffee. Excluding large deals, core business showed an increase of about 7%, maintaining its strong momentum, particularly in Germany. Commercial activity remained strong over the year, thanks in particular to the acquisition of new customers in Mexico (convenience stores) and China (tea chains), as well as the development of new markets in Malaysia, Taiwan and Eastern Europe.

The year 2024 was also marked by further strategic reinforcement in the professional culinary sector with the acquisition of Sofilac in April, which specializes in high-end cooking equipment under the Charvet and Lacanche brands. This active strategy continues into 2025 with the announcement of the acquisition of La Brigade de Buyer, which brings together the De Buyer, Sabatier and 32 Dumas brands, symbols of excellence in cookware and cutlery. La Brigade de Buyer had annual sales of €66m in 2024, half of which were generated internationally.

Outlook

This solid publication, in line with expectations, allows us to confirm an operating margin close to 10% for full-year 2024. The Group thus validates its return to growth standards, with 2024 ORfA expected to increase by about 10%.

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