EXCELLENT QUARTER IN A TOUGHER ENVIRONMENT

RESULTS

• Nine-month sales: €5,114m, +10.5%, +8.1% LFL* 
• Third-quarter sales: €1,777m, +10.9%, +7.7% LFL*
• Nine-month Operating Result from Activity (ORfA): €407m, +9.3%

• Net financial debt: €2,459m (o/w €344m from IFRS 16) 

2019 OBJECTIVES

• Ongoing solid LFL sales growth, adjusted between +6% and +7%, vs over 7% previously
• Increase in reported ORfA confirmed, by around +6%
   

GENERAL COMMENTS ON GROUP PERFORMANCE

In a global environment that grew considerably more challenging over the summer (global economic slowdown, US/China trade dispute), Groupe SEB posted excellent performances in the third quarter. The latter were reflected in continued vigorous sales growth and an increase in Operating Result from Activity (ORfA).

Revenue in the first nine months came out at €5,114 million, up 10.5%. The total includes organic growth of +8.1%, a currency effect of +1.0% and a scope effect of +1.4%, stemming from the consolidation of Wilbur Curtis since February 8 and that of our Egyptian joint venture in its new configuration.

ORfA amounted to €407 million at end-September, up 9.3% on the first nine months of 2018 comprising a currency effect of -€1 million and a scope effect (Wilbur Curtis and Egyptian JV) and method effect (IFRS 16) of +€15 million.

Net financial debt stood at €2,459 million at September 30, 2019, compared with €2,105 million at end-September 2018 (on the same seasonal basis). It includes the recognition of IFRS 16 debt as well as the acquisitions of Wilbur Curtis and Krampouz.

* Like-for-like: at constant exchange rates and scope of consolidation
 

THE PRESS RELEASE

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