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Groupe Seb reports recovery in Professional Coffee core business during 1H 2021

Groupe Seb

ECULLY, France – In what remains a disrupted overall environment marked by the continuation of the COVID-19 crisis and unprecedented inflationary tensions in the supply chain, Groupe SEB reported sales of €3,610m in first-half 2021, up 23.9% compared with end-June 2020. The increase includes organic growth of 26.3% (€768m), a currency effect of -4.3% (-€125m), and a scope effect of +1.8% (+€53m; StoreBound, acquired in July 2020).

Though the increase is to be compared with a first-half 2020 that was heavily impacted by the spread of the pandemic, it also reflects solid growth relative to first-half 2019, with sales up 8.2%.

The excellent performance was underpinned both by vigorous Consumer business and a significant rebound in Professional sales in the second quarter.

The Consumer business posted organic growth of 29.6% in the first six months, against weak 2020 comparatives in all regions. After a brisk start to the year (+39.1% LFL), the Group maintained robust sales momentum in the second quarter (+20.6% LFL), still driven by strong demand for small domestic equipment around the world.

In this environment, promotional pressure remained moderate, ensuring a firm price-mix. E-commerce continued to be a powerful growth engine, the reopening of stores having come late in numerous countries.

After a 12-month period heavily impacted by the almost complete closure of the hospitality and catering sector, Groupe SEB ’s Professional business returned to growth in the second quarter.

Coming out at 34.2% LFL, growth did reflect a certain recovery in the Professional Coffee core business (coffee machines and service) and included the roll-out of a few contracts with European and US customers. It almost entirely offsets the shortfall at end-March (-26.2% LFL) leading to a very limited decline in Professional sales at June 30, 2021 (-1.7% LFL).