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First-quarter 2023 sales and financial data

 Sales in line with our expectations on a record comparison base,
full-year outlook confirmed


  • Sales: €1,822m, -3.7% LFL and -4.9% as reported vs record-high 1st quarter 2022
  • Contrasted LFL* performances: Consumer -6.6% and Professional +29%
  • Operating Result from Activity (ORFA): €65m (€140m in 1st quarter 2022)
  • Free cash flow generation > €200m 
  • Net financial debt: €1,864m, down €109m vs 12/31/2022
  • 2023 assumptions confirmed:
    • Progressive recovery in Consumer sales
    • Strong growth in Professional sales
    • Increase in full-year Group ORFA margin

* LFL = organic: on a like-for-like basis  

Stanislas de Gramont, Chief Executive Officer of Groupe SEB

2023 started with a quarter that met our expectations. The contraction in Consumer sales – notably in Europe and the United States – follows an all-time high first-quarter 2022 performance but represents a sequential improvement in business, having reached a low in the third quarter of 2022. The temporary slowdown in business in China during the first quarter was also expected. However, with respect to China, we anticipate to achieve positive growth in turnover over the next three quarters.

We are particularly pleased with the robust growth in the Professional business across all its markets. Strengthened by the acquisition of La San Marco in February, this segment is an important driver of the Group's future growth. 


We continue to invest in both innovation and our brands and remain confident in the ongoing improvement in our Consumer sales. Thanks to this outlook, combined with a vigorous growth in our Professional business, we reiterate all of our annual targets.

Stanislas de Gramont, Chief Executive Officer of Groupe SEB