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

GROUPE SEB S.A.

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Groupe SEB beats its second-quarter sales forecast on easing lockdowns

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07/23/2020 | 02:53am EDT

French household equipment maker Groupe SEB reported better-than-expected quarterly revenue on Thursday, as the easing of coronavirus lockdowns fuelled demand, chiefly in the Europe, Middle East and Africa region and in China.

The company, which owns household brands including Moulinex and Tefal, said quarterly revenue fell 9.5% to 1.46 billion euros (1.33 billion pounds) from a year-ago period, slightly less than the revenue loss of 200 million euros the company had forecast for the quarter.

Operating result from activity came in at 86 million euros, in-line with SEB's guidance of a positive operating result.

All of the group's 42 production sites have returned to normal output levels after temporary shutdowns due to the pandemic, the company said in a statement.

Half-year sales fell 12.7% to 2.914 billion euros as the widespread closure of the hotels and restaurants sunk demand in the group's professional business.

Groupe SEB maintained its forecast for a significant drop in revenue and core profit in 2020 given uncertainties caused by the still severe health crisis in the Americas and the resurgence of the epidemic in some countries, the company said.

The company on Wednesday said it had agreed to buy a majority stake in New York-based StoreBound, owner of the kitchenware brand Dash, as it seeks to strengthen its presence in the U.S. market.

(Reporting by Linda Pasquini in Gdansk; Editing by Clarence Fernandez and Tomasz Janowski)


Stocks mentioned in the article
ChangeLast1st jan.
DOW JONES AFRICA TITANS 50 INDEX -0.60% 483.01 Delayed Quote.-9.41%
GROUPE SEB S.A. 0.13% 149 Real-time Quote.12.54%
S&P AFRICA 40 INDEX -0.07% 160.69 Delayed Quote.-6.80%
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Financials
Sales 2020 6 881 M 8 151 M 8 151 M
Net income 2020 292 M 345 M 345 M
Net Debt 2020 1 869 M 2 214 M 2 214 M
P/E ratio 2020 26,2x
Yield 2020 1,05%
Capitalization 7 475 M 8 848 M 8 855 M
EV / Sales 2020 1,36x
EV / Sales 2021 1,22x
Nbr of Employees 34 000
Free-Float 49,7%
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Technical analysis trends GROUPE SEB S.A.
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TrendsBullishBullishBullish
Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 11
Average target price 154,85 €
Last Close Price 149,00 €
Spread / Highest target 18,8%
Spread / Average Target 3,92%
Spread / Lowest Target -9,40%
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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