Wednesday 29 May 2024
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Groupe SEB Professional business (coffee) revenue surge to €628m

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ECULLY, France – Groupe SEB reported sales of €8,059m in 2021, up 16.1% from 2020, with like-for-like growth of 15.5% (or €1,079m). Currency and scope effects were limited over the year, coming out at -€22m and +€62m, (related to StoreBound*) respectively. Compared with 2019, which stands as a more normal base of comparison than atypical 2020, Group’s revenue grew by 9.6%

The Consumer business achieved a great year and the Group strengthened its worldwide leadership in the Small domestic equipment market. 2021 sales totaled €7,431m, up 16.7% vs. 2020 and +16% LFL.

La Cimbali

All of our regions and product lines contributed to this robust performance. E-commerce remained a major growth driver throughout the year and its share in our revenue continued to increase in most of our markets. Solid demand was reflected in high-quality sales in a soft promotional environment.

The Professional business (Coffee at ~90%) generated annual revenue of €628m, up 10.2% LFL. Thus, in 2021, the division returned to positive momentum following a difficult 2020 financial year, marked by the near-total shutdown in the hospitality and catering sector.

Gimoka

The rebound in our sales was supported both by the reopening of cafés and restaurants and by the roll-out of specific contracts.

Groupe SEB

T. de La Tour d’Artaise, Chairman and CEO of Groupe SEB. stated:

“Groupe SEB achieved record performances in 2021, with revenue exceeding €8 billion for the first time in its history, Operating Result from Activity up 34% to €813 million and net profit of €454 million, an increase of 51%. As such, the Group continues its strong and profitable growth trajectory. We are proud to present these results which enable us to distribute a dividend of €2.45 per share. SEB is doing fine. SEB is strong.

Both our Consumer and Professional businesses have contributed to this record, benefiting fully from robust structural demand linked to changing consumer behaviors.

With consistency and determination, we are rolling out our strategy based on the appeal of our brands, product innovation, international expansion and the activation of all distribution channels.

This year marks the 165th anniversary of Groupe SEB. It was built on a long-standing family shareholding structure with a strong corporate culture. Both combined helped the Group to successfully address multiple geopolitical, economic and societal challenges throughout its history, and above all, to cement its global leadership in its industry.

I would like to thank all of our employees who are the key to these successes. Their renewed commitment will allow us to reach new heights.”

CIMBALI

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