Each brand has a well-defined identity, with a specific values which are reflected in the product offering, features and design, as well as in appropriate communication mechanics.
We remain convinced that our balanced business model, combining profitable growth and a resolutely responsible approach, creates value for all and plays a full part in our contribution to better living in households around the world.
Net financial debt: €2,459m (o/w €344m from IFRS 16)
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
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