Groupe SEB : Very good start to the year with 7.3% organic growth and 220bp improvement in profitability
>Robust Q1 revenue (+7.3% LFL) with 220bp improvement in operating margin - Groupe Seb reported a substantial increase in Q1 earnings. Revenue grew 3.9% to € 1,893m whereas we had forecast € 1,838m. The main difference vs our estimate (3% gap) stemmed from organic growth, which reached 7.3% (mostly due to volume and mix) which was an excellent performance, as we had expected +3.6%. The consensus expected 6% organic growth. Except for Asia, all regions posted satisfact...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.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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