Half Year 2025 SEB SA Earnings Call Transcript
Key Points
- SEB SA (SEBYF) experienced an acceleration of sales in Western Europe and continued growth in Asia, particularly in China.
- The company returned to growth in its Professional business in the second quarter, aligning with expectations.
- SEB SA (SEBYF) successfully launched several new initiatives, including a European refurbishment center and recycling programs.
- The company reported a positive contribution from the acquisition of Lariga in premium and professional cookware.
- SEB SA (SEBYF) has a strong pipeline of product innovations, which are expected to drive sales growth, particularly in Western Europe.
- The company faced significant currency volatility, resulting in a negative impact of EUR64 million on sales in the first half.
- North America experienced a challenging second quarter with an 11.5% decline in sales, impacted by uncertainties regarding US tariffs.
- SEB SA (SEBYF) reported a 50% decrease in profit contribution for the first half compared to the previous year.
- The company faced geopolitical disturbances in certain regions, negatively impacting sales in countries like Romania and Algeria.
- High inventory levels were noted, partly due to supply chain uncertainties and the ongoing impact of the Red crisis.
Welcome to the Groupe SEB First Half 2025 Sales and Results Presentation. My name is [Alan], and I will be your coordinator for today's event. Please note, this call is being recorded. (Operator Instructions) Today, we will be joined by Stanislas de Gramont CEO; Olivier Casanova, Executive VP and CFO. I will now hand you over to your host, Stanislas de Gramont to begin today's conference. Thank you.
Thank you very much, Alan. Good afternoon, everyone. Welcome to this first half results call. I will cover the presentation together with Olivier Casanova, our Chief Financial Officer. And of course, afterwards, as I said, we will answer your questions.
Starting with the first half highlights. It's been a pretty busy in many terms, positive quarter for us and half year. we've seen, in particular, in the second quarter, an acceleration of our sales in Western Europe. We've seen continued growth in Asia, and that's a very reassuring effect. We've seen a return to growth
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