Oddo BHF reaffirms its 'outperform' rating and 127 euro price target for Groupe Seb, citing a 'relatively reassuring outlook for the second half of the year due to a more favorable basis of comparison and more normalized distributor inventories'.
The research firm leaves its estimates virtually unchanged (EPS -0.9% due to currency effects). In its view, confirmation of a turnaround in the consumer business should reassure, but it also recognizes that uncertainties remain regarding the rebound in China.
Exposure to professional coffee will provide additional support for organic growth. 2023 will be a first step in rebuilding margins. In parallel with strong FCF generation, debt is under control', he continues.
Copyright (c) 2023 CercleFinance.com. All rights reserved. The information and analyses published by Cercle Finance are intended solely as decision-making aids for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.
The world leader in Small Household Equipment, SEB S.A. relies on 35 flagship brands (Tefal, Seb, Rowenta, Moulinex, Krups, Lagostina, All-Clad, WMF, Emsa, Supor, etc.) and a broad product portfolio:
- cookware: frying pans, saucepans, pressure cookers, utensils, etc.;
- small culinary appliances: items for electric cooking (deep fryers, rice cookers, pressure cookers, etc.), beverage preparation (coffee makers, kettles, etc.) or food preparation (blenders, food processors, etc.);
- small non-culinary household appliances: linen care equipment (irons, steam generators, steamers, steamers, etc.), vacuum cleaners, fans, and personal care equipment (hairdressing and depilation appliances, etc.).
At the end of 2023, the group operated 41 manufacturing sites worldwide.
Net sales are distributed geographically as follows: Western Europe (34.1%), Europe/Middle East/Africa (15.2%), China (27.9%), Asia (7%), North America (10.9%) and South America (4.9%).
SEB S.A. 
