Groupe SEB: caught in the tariff storm, which should calm down in H2 2025
Yesterday evening, Groupe SEB reported weaker-than-expected H1 2025 results, as the tariff headwind was underestimated by the market in light of the company's limited US exposure (9% of sales). This tough first half has consequently forced Groupe SEB to cut its FY25 outlook. We are lowering our FY2
Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.
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