PARIS (Agefi-Dow Jones)–The specialist in small domestic equipment Seb indicated on Tuesday that it anticipates an operating margin on activity of 10% for 2021 while its operating result on activity should “slightly” exceed 800 million, including additional costs – materials, components, freight, currencies – estimated as anticipated at around 300 million euros.
In a press release published at the end of October, the group estimated that its operating margin would be “close” to 10% in 2021.
During the fourth quarter ended at the end of December, the group’s turnover amounted to 2.49 billion euros, according to provisional figures, an increase of 11.7% compared to the corresponding period of 2020. At constant exchange rates and scope, the increase was 8.8%.
According to a consensus established by FactSet, analysts expected an average turnover of 2.35 billion euros in the fourth quarter.
Over the past financial year as a whole, Seb’s sales reached a record, at 8.05 billion euros, up 16.1% on a reported basis and 15.5% at constant exchange rate and perimeter. The consensus of analysts was for 7.89 billion euros in annual turnover.
“This performance, better than anticipated, is all the more remarkable as it was achieved in a general environment still disrupted by the persistence of the health crisis and by unprecedented tensions in the supply chain”, commented the group in a press release.
Currency and scope effects stood at -0.3% and +0.9% respectively. “Organic growth was fueled by robust development in the Consumer business, driven primarily by e-commerce, and by renewed momentum in Professional,” said Seb.
-Eric Chalmet and François Schott, Agefi-Dow Jones; +33 (0)1 41 27 47 92; [email protected] ed: FXS
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January 25, 2022 12:10 ET (17:10 GMT)