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MarketScreener Homepage  >  Equities  >  Euronext Paris  >  Groupe SEB S.A.    SK   FR0000121709

GROUPE SEB S.A.

(SK)
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Groupe SEB: Update of the Impacts of COVID-19 on the Group

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06/25/2020 | 11:47am EDT

Regulatory News:

Groupe SEB (Paris:SK):

Against the backdrop of an unprecedented health and economic crisis, first-quarter performances had led the Group to expect a strong impact on business in the second quarter. Indeed, activity hit a low in April, with sales down by over 30% like-for-like, following a 28% contraction in March.

Since mid-May, with the epidemic starting to ease and containment measures being gradually lifted, markets as well as our Consumer sales have trended more positively than estimated across all geographies apart from South America. However, our Professional business has remained very negative, owing to the near-total shutdown of hotels and restaurants during the period.

In this context, the Group estimates a revenue loss of around €200 million for the second quarter, rather than the €450 to €500 million announced on April 28. The slighter decrease in sales, combined with the rigorous implementation of cost-reduction initiatives, and notably short-time working measures, reduces the impact on Operating Result from Activity in the second quarter, which is now expected to be in positive territory.

Outlook

Major uncertainties remain over the definitive end of the crisis and the resilience of consumption. As such, it would be premature to extrapolate the improvement in the situation to the second half of the year, in particular in a context of increased foreign exchange volatility.

While the Group is expecting a gradual firming up of business activity in the second half, it remains impossible at this stage to precisely quantify the impacts of COVID-19 on the year as a whole. The Group is thus confirming that its revenue and Operating Result from Activity will fall significantly in 2020 compared to 2019.

The Group reaffirms its confidence in its solid and well-balanced strategic model, a strong asset to smoothly navigate this crisis.

Groupe SEB will publish its half-year sales and results on July 23.

Next key dates

 

 

July 23 | before market opens

 

H1 2020 sales and results

October 26 | after market closes

 

9-month 2020 sales and financial data

Find us on… www.groupeseb.com

World reference in small domestic equipment, Groupe SEB operates with a unique portfolio of 30 top brands including Tefal, Seb, Rowenta, Moulinex, Krups, Lagostina, All-Clad, WMF, Emsa, Supor, marketed through multi-format retailing. Selling more than 350 million products a year, it deploys a long-term strategy focused on innovation, international development, competitiveness and service to clients. With products being present in over 150 countries, Groupe SEB generated sales of approximately €7.3 billion in 2019 and had more than 34,000 employees worldwide.

Business Wire 2020

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Financials
Sales 2020 6 881 M 8 149 M 8 149 M
Net income 2020 292 M 345 M 345 M
Net Debt 2020 1 832 M 2 170 M 2 170 M
P/E ratio 2020 26,3x
Yield 2020 1,05%
Capitalization 7 495 M 8 895 M 8 876 M
EV / Sales 2020 1,36x
EV / Sales 2021 1,23x
Nbr of Employees 34 000
Free-Float 49,7%
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Technical analysis trends GROUPE SEB S.A.
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Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 11
Average target price 154,85 €
Last Close Price 149,40 €
Spread / Highest target 18,5%
Spread / Average Target 3,64%
Spread / Lowest Target -9,64%
EPS Revisions
Managers
NameTitle
Thierry Arnaud de La Tour d'Artaise Chairman & Chief Executive Officer
Stanislas de Gramont Chief Operating Officer
Nathalie Lomon Chief Financial Officer & Senior Executive VP
Damarys Braida Director
Jean-Nol Labroue Independent Director
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