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2017 : excellent performances

Publication date : 01/03/2018 06:30
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  • Sales of €6,485m: +29.7%, +9.2% LFL*

of which WMF sales: €1,151m, +5.5%

  • Operating Result from Activity (ORfA)

€661m, +30.8%

€678m, excluding one-off impacts of WMF PPA**, or +34.2%

  • Net profit: €375m, +45%
  • Net financial debt: €1,905m, -€114m vs. December 31, 2016
  • Operating cash flow generation: €322m
  • Proposed dividend of €2.00 per share: +16.3%
* Like-for-like: at constant exchange rates and scope of consolidation.
** One-off impacts from the WMF purchase price allocation (revaluation of inventories and order books).
 
Statement by T. de La Tour d'Artaise, Chairman and CEO of Groupe SEB
 
"Groupe SEB once again posted an excellent year in 2017. Our organic sales growth was vigorous, up 9.2%, our Operating Result from Activity rose by over 30%, and we ended the year with a debt/EBITDA ratio of 2.4. The performance of WMF was consistent with our expectations, generating an accretion of 22% on net earnings per share. The ambitious objectives we set for ourselves in 2017 have thus been met.
 
2017 was also a year of transformation for the Group with the integration of WMF. Substantial work was already carried out to implement a new organization – now operational –, harmonize processes, pool certain central functions and start unlocking synergies in purchasing, the supply chain and manufacturing. Value accretive projects were launched, including the first concrete initiatives aimed at developing the Consumer business and activating the acceleration program in Professional Coffee. We are aligned with our roadmap and I would like to thank all the Group's teams for their remarkable commitment.
 
Obviously, considerable work still remains to be done, and some projects will take time to deliver their full potential. But as with Supor ten years ago, we are confident in our ability to take best advantage of this transformative acquisition. In 2018, the intensification of projects initiated in 2017 will allow us to start generating tangible synergies in line with our objectives for 2020.
 
Against this backdrop, Groupe SEB in 2018 aims to achieve further organic sales growth, improve its Operating Result from Activity and continue to reduce its indebtedness."