9

driver for the entire Group. China and the

United States are the regions in which this

performance is the most remarkable. Fur-

thermore, the ongoing development of ser-

vices and their digital component strengthens

the attractiveness of the Group’s offering and

contributes to strong revenue growth. Coffee

represents 90% of revenue in the Profession-

al segment, but we are increasingly diver-

sifying, notably with a stronger presence in

professional kitchens since the acquisition of

Pacojet and other future acquisitions.

We will continue to invest in 2024 to develop

this market and support our strategic ambition.

What are the ambitions for the Consumer

market?

Consumers are our historical market, and

we will not forget it! Uses evolve, and so does

our offering. We must be extremely agile to

respond to all the challenges of this market,

in terms of both accessibility and sustaina-

bility. We are recording growth in all regions,

in a resilient Small domestic equipment

market, notably due to effective commercial

execution. Growth was notably driven by linen

care, versatile vacuum cleaners, fans, oil-less

fryers, rice cookers, kettles, full-automatic

coffee machines and cookware (particularly

the Ingenio range).

We are redoubling our efforts to maintain this

excellent momentum in 2024.

The Group has always had a very powerful

industrial culture.

Have new investments been made in 2023?

France and Europe need greater competitive-

ness and sovereignty at industrial level. The

Group has always taken a leading position in

this battle We have made decisive choices

over the last few years as a reminder of our

mission Within the Group we have been lucky

enough to benefit from tremendous industrial

expertise which gives us this legitimacy To

day our investments are significant and nec

essary and concern all our 41 industrial sites

around the world These investments affect

not only the ecology transition notably through

a continuous pursuit of energy efficiency but

also a better quality of life at work

What is the assessment of performance

in 2023?

Groupe SEB bucked the trend and performed

well in 2023, against a backdrop of undeniably

difficult economic conditions. We regained

good momentum in Consumer and reaf-

firmed our global leadership through an in-

tensive product innovation strategy, deployed

effectively.

We passed a milestone by exceeding the

mark of 8 billion euros in annual sales, up

5.5% like-for-like (LFL). Consumer sales

reached 7,045 million euros, up 3.2% LFL

compared to 2022, thanks to growth in all

regions. The Professional segment sustained

the momentum gained in 2022, performing

even better in 2023 at 962 million euros, an

increase of 26.5% LFL, and now representing

12% of Groupe SEB’s annual sales.

As I often say, this situation is a reminder of

the solidity of our model and relevance of our

vision.

Are the objectives maintained?

The last two quarters of 2023 have set a new

course. There was a marked recovery in growth,

which continues today. The dynamic sales, the

continuous improvement of gross profit and

disciplined management of all costs allowed

the Group to exceed its initial target for growth

in operating income. We end the financial year

with a stronger balance sheet and financial

structure. We reaffirm our medium-term am-

bitions of average annual organic growth in rev-

enue of at least 5% and an operating margin of

around 11%. For 2024, we confirm our objective

to deliver an operating margin close to 10%.

We remain prudent yet confident going forward.

The Professional market is a strong

growth driver for the Group

What are the mediumterm prospects

This is without doubt the biggest turning point

of the last few years for the Group our strat

egy for developing the Professional market

proves itself with each passing month 2023

was a record year for this segment and the

fourth quarter was excellent This is a very

good indicator for the future It is a growth

In 2023, you traveled to a number

of countries and Group sites to meet

the teams in the field.

What lessons have you learned?

It is a habit of mine to work with all teams

throughout the world. It allows me to take

the pulse of our community and identify ob-

stacles as well as opportunities. I will con-

tinue the tradition for as long as I feel the

benefits every day. This closeness gives me

a very clear grasp of the Group, and enables

me to build strong relationships with all those

who are working to make it successful. Fur-

thermore, in these uncertain times our per-

formance draws its strength from the unity

of all our employees. And this was clear to

me in the field!

“Act for sustainable livings”, the 2018-2023

CSR ambition, has drawn to a close;

what can you tell us about the new

roadmap?

We put in place an ambitious strategy in

2018, and devoted the necessary resources

to achieving all or part of the goals set by the

end of 2023. Within the scope of our commit-

ment, I firmly believe in continuous improve-

ment. We must continue to make progress,

and we have an amazing team that tackles

these subjects with great determination. We

are currently in the final stages of drafting

our new road map, with a single objective: to

be exemplary.

“GROUPE SEB BUCKED

THE TREND AND PERFORMED

WELL IN 2023 A REMINDER

OF THE SOLIDITY OF OUR

MODEL AND RELEVANCE

OF OUR VISION