Q1 Consolidated. April 24, Q1 consolidated Revenue April 24, 2014.

Transcription

1 Q1 Consolidated Revenue April 24, 2014

2 Q revenue by region (in millions) Q Q Reported Like-for-like France % % Other Western Europe % % North America % % South America % % Asia-Pacific % % Central Europe, Russia and other countries * % based on non-rounded figures % change* % % TOTAL % % 2

3 Organic sales growth, by quarter FY % FY % 11,0 9,0 % ,0 5,0 3,0 1,0-1, ,0-5,0-3.4 T1 T2 T3 T4 3

4 Analysis of Q sales growth m Organic growth Currency impact Change in consolidation scope % % % +1.1 %

5 Currency impact on Q sales m - 53m 5 = 75%

6 Q sales by region Asia Pacific 32% 30%* France 14% Other western 14%* European countries 19% 17%* *2013 figures Central Europe, Russia & Other countries 16% 18%* South America 9% 11%* North America 10% 10%* 6

7 Q performance overview Revenue: 942m ; % LFL * Q1 2013: + 2.7% LFL North Am. France +0.1% +2.5% 2013: + 5.2% 2013: -4.8% South America +2.9% Western EU % 2013: -2.6% Cent. Eur., Russia and other countries -3.7% 2013: +0.9% Asia Pacific +12.7% 2013: + 8.7% 2013: +6.8% * At constant exchange rates and scope of consolidation 7

8 France m Reported Like-for-like Q % +2.5 % Small Domestic Equipment market slightly growing Small Electrical Appliances up, driven by food preparation, vacuum cleaners and personal care Cookware down, especially pressure cookers Groupe SEB: confirmed return to growth Slight acceleration vs. H Growth in small electrical appliances driven by steam generators, vacuum cleaners, Nespresso coffee makers and kitchen machines Innovation remains a key driver: Cookeo confirmed success, Cuisine Companion ramping up Difficult in cookware (cf: market) 8

9 Other Western European countries m Reported Like-for-like Q % % Small Domestic Equipment market slightly growing Northern Europe: continued development Southern Europe: gradually recovering on low comps Groupe SEB: a strong start to the year Undemanding comps (Q1-13 down 2.6% like-for-like) Germany: dynamic growth, boosted by a loyalty program Netherlands: good quarter Confirmed strong momentum in the United Kingdom: positive development in cookware, Optigrill and coffee Positive trend in Italy Spain: solid growth driven by cookware, steam generators and vacuum cleaners 9

10 North America m Reported Like-for-like Q % % US: impacted by unfavourable weather conditions Lower sales in cookware despite good performance of All-Clad and Imusa Continued growth in linen care Rowenta in the premium segment (selective retail), T-fal in the mid-range segment (mass retail) Significant contribution from Optigrill Mexico: revenue down Non-renewal of a LP Healthy core-business, driven by cookware and linen care Canada: solid growth New market share gains Flagship products: Actifry and traditional deep-fryers, breakfast categories, Optigrill take-off, 10

11 South America m Reported Like-for-like Q % + 2.9% General issue: sharp weakening of currencies vs. EUR and USD (BRL, COP, ARS etc..) Brazil: sales slightly up Macro-economic uncertainties Tough negotiation process with retailers to increase our prices Very good sales in fans supported by favourable weather conditions and a TV campaign Colombia: robust development Strong market dynamics Main contributors to growth were cookware (P&P, pressure cookers, kitchenware), fans (hot weather), blenders, successful launch of Actifry 11

12 Asia-Pacific m Reported Like-for-like Q % % China: strong momentum Performance driven by innovation and wider product range Major contribution of new rice cookers, good performance of soya milk makers, woks, Clipso pressure cookers Continued extension of geographic coverage to Tier 3 and Tier 4 cities, development of online sales Japan: difficult beginning of the year Inventory building in Q4-13 ahead of price increases led to destocking in Q1 Solid growth in South Korea, Thailand and Malaysia 12

13 Central Europe, Russia and other countries m Reported Like-for-like Q % % Currency issues (RUB, TRY, UAH) and geopolitical tensions Impact on business and consumer confidence Russia: marked decline in sales Worsening market conditions Highly competitive and promotional environment Destocking by the retailers Ukraine: good start but business collapsed after February s events Central Europe: improving despite price increases and nonrecurring LP in Poland Turkey: stabilization on a challenging market Good performance in linen care, vacuum cleaners and Actifry 13

14 2014 Outlook

15 FOREX : a quarterly perspective 2013 Q1 Q2 Q3 Q4 Full Year ROPA at cst FOREX FOREX ROPA reported Q1 ROPA at cst FOREX 74 FOREX -24 ROPA Reported 50 Q1 (and Q2) traditionally represent a small share of full-year ROPA As a result, H1 reported performance will be heavily penalized by FOREX 15

16 2014 objectives confirmed Tough year Currency situation Geopolitical issues Difficult market conditions Bulk of profit growth expected in H2, 2014 Strong pricing and productivity actions being implemented 2014 Objectives maintained Sustained organic growth in Sales and Operating Result from Activity at constant exchange rates. 16

17 April, 15 26, 2014 Groupe SEB at Carrefour Ecully 17

18 Upcoming events 15/05/2014 2:30 pm Annual General Meeting - Paris 19/05/2014 Ex date 22/05/2014 Payment of dividend 24/07/2014 6:30 am 2014 H1 revenue & results 23/10/2014 5:40 pm 2014 nine-month revenue and financial data 18

19 IR contacts Isabelle POSTH Vice-President, Financial Communications & Investor Relations Emmanuel FOURRET Investor Relation Manager + 33 (0) comfin@groupeseb.com 19

20 Disclaimer Some of the statements contained in this document may be forward-looking statements concerning Groupe SEB's financial position. results. businesses. strategy or projects. Groupe SEB considers that such statements are based on reasonable assumptions but cannot and does not give any assurance that the Group's future performance will be consistent with those statements. Actual results could differ from those currently anticipated in such statements due to a certain number of inherent risks and uncertainties. most of which are beyond Groupe SEB's control. such as those described in the documents filed or to be filed by Groupe SEB with the French securities regulator (Autorité des Marchés Financiers) and made available for downloading from the Company's website