GROUPE SEB: Slight FY sales guidance cut although Q3 LFL beat forecasts | BUY | EUR175 vs. EUR178(+26%)
GROUPE SEB - BUY | EUR175 vs. EUR178(+26%)Slight FY sales guidance cut although Q3 LFL beat forecasts
Is SEB excessively cautious with this lower FY sales guidance?
FY ORfA outlook unchanged (“around +6%â€)
Q3 LFL topped CS despite China and Professional business
Negative market reaction expected in the near-term
SEB is engaged in the design, manufacture and marketing of cookware and small household appliances such as pressure cookers, irons, coffeemakers, deep fryers, toasters, kitchen utensils, breadmakers, mixers, blenders, bathroom scales, vacuum cleaners, fans, heaters, air conditioners and food processors. Co.'s products fall into eight categories: Home comfort, Home care, Food preparation, Linen care, Personal care business, Cookware, Electrical cooking and Beverage preparation. Co.'s brands are All-Clad, Krups, Lagostina, Moulinex, Rowenta, Tefal, Calor/Seb, T-fal/Mirro/WearEver/AirBake/Regal, Arno/ Panex//Rochedo/Penedo/Clock/Samurai/Imusa/Umco, Supor, AsiaVina and Maharaja Whiteline.
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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