Groupe SEB Reports Double-Digit Percent Revenue Increase for First Half



ECULLY CEDEX, France—For the first half of 2010, Groupe SEB has reported a revenue increase of 13.2 percent, or $2.07 billion, based on firm demand in established markets and strong contribution from emerging markets, the company said, as well as positive currency impact.

“Continuing the trend observed in the fourth quarter 2009, first-half 2010 saw an upswing in consumer spending — although sometimes uncertain — in virtually all markets and a gradual return to normal in the retail sector,” said Thierry de La Tour d’Artaise, chairman and chief executive officer. “Moreover, negative factors in first-half 2009 created a favorable basis for comparison.”

Operating margin was up 58.4 percent, “led by a substantial increase in manufacturing output, and was still relatively unaffected by the rise in raw material costs,” he added.

A $66.4 million positive currency impact was the result of the sharp rise against the Euro in many of the company’s functional currencies, the company said. The positive performance of its flagship products — cookware items such as frying pans, pressure cookers and woks; the Air Force and Silence Force vacuum cleaners; steam generators; the Fresh Express small food preparation appliance; products stemming from partnerships such as Nespresso and Dolce Guston coffee makers; kitchen electrics in Asia and fans and blenders in South America — also aided revenue growth for the period.

“Consequently, we’ve entered the second half of the year with confidence while remaining attentive to changes in the economic environment,” de La Tour d’Artaise said.