(Photo credits: GROUPE SEB – )
(AOF) – Groupe SEB achieved a turnover of 8.059 billion euros in 2021, up 16.1% compared to 2020, with growth at constant parity and structure of 15.5%. Organic growth was fueled by robust development in the Consumer business, driven primarily by e-commerce, and by renewed momentum in Professional, particularly in the coffee segment. Compared to 2019, sales are thus up by 9.6%.
The Consumer business had a very good year, with revenue of 7.431 billion euros, up 16.7% year-on-year, including +16% like-for-like. This reflects an excellent first half (organic growth of 29.6%), against a backdrop of very strong demand for small domestic equipment and weak 2020 records; as well as the maintenance of a solid sales momentum in the second half, despite a much more demanding 2020 comparison base.
The Professional business (Coffee at around 90%) generated annual revenue of 628 million euros, up 10.2% like-for-like. Over the last three months of the year, organic growth of 14.4% was driven more by current activity than by one-off deals.
Sales growth having been better than expected, SEB has revised its operating margin estimate upwards for 2021, which should reach 10%, against “close to 10%” as communicated at the end of October.
Operating Result from Activity should thus slightly exceed 800 million euros, including additional costs (materials, components, freight, currencies) estimated at around 300 million.
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China becomes the leading consumer of French cosmetics
Exports of the French cosmetics sector fell by 11.8%, to 15.7 billion euros in 2020. The health crisis has disrupted production and logistics in the sector, which nevertheless retains its position as the second largest contributor to the positive foreign trade balance. France also maintains its position as world leader in the sector (24% market share).
In a movement similar to that of the luxury industry, China has become the leading market, ahead of Germany and the United States. In 2020, exports to this country jumped by 20.7%, while they fell by 15% to the United States and by 24% to Germany. According to the Federation of Beauty Companies, China is by far the leading buyer of French lipstick, with more than one in four lipsticks exported.