April 25 (Reuters) – SEB reported on Thursday an increase in its sales in the first quarter, driven by the resilience of the small domestic equipment market, while the consumer business continues to “outperform”, according to the group.
The Burgundian group’s turnover stood at 1.89 billion euros over the first three months of the year, up 7.3% at constant exchange rates and scope. The group’s consumer activity recorded an increase of 5.8% to 1.64 billion euros.
“The small domestic equipment market remains resilient at the start of the year, and our consumer business continues to outperform,” said Stanislas de Gramont, CEO, in a press release, adding that “this trend is supported by the deployment of multi-category product innovations, which carry our momentum into a growing number of countries.”
The contribution to turnover from the EMEA zone, excluding Western Europe, notably increased by 32.9% and stood at 271 million euros.
SEB also confirmed its outlook for 2024, including an operating margin close to 10%. (Written by Augustin Turpin, edited by Sophie Louet)
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