Coffee Service

COVID boosts Groupe SEB Q1 2021 consumer sales, clips professional coffee

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April 23, 2021

Groupe SEB, parent company of Wilbur Curtis in the U.S., reported sales in the first quarter of 2021 of €1.85 billion ($2.22 billion) up 27.4% as compared to the €1.45 billion ($1.74 billion) in the first quarter of 2020. This improvement includes like-for-like growth of 30.9% (€449 million) ($539.4 million), a currency effect of negative 5.6%, (€81 million) ($97.31 million) and a scope effect of 2.1%, (€30 million) ($36.04 million).

Conversely, the professional business recorded a decline in turnover of 26.2% versus a first-quarter 2020 that was less impacted by the COVID-19 crisis than the consumer business. This marked decrease in sales is directly linked to the persistent difficulties in the hospitality and catering sector, which is still largely under lockdown at this stage.

"Groupe SEB achieved an excellent performance in the first quarter, with sales and operating result exceeding pre-pandemic levels," T. de La Tour d'Artaise, chairman and CEO, said in the press release. "All our products and regions contributed to this upswing and we are particularly pleased with this momentum, which was driven by the efforts of all our teams that I want to thank today."

In the U.S., growth was bolstered by the widespread continuation of teleworking, which continued to benefit home cooking, and by the replacement of appliances facilitated by government stimulus programs.

The group posted record performances in cookware under the All-Clad, T-Fal and Imusa brands.

Professional coffee continued to be heavily affected by the negative effects of COVID19 on the hospitality and catering sectors, still largely under lockdown at this stage, and that comprise many of the company's U.S. customers : hotels, cafés, coffee shops, restaurants, fast-food chains and convenience stores.

The group anticipates a stable second semester vs. 2020 owing to a demanding comparison basis, uncertainties on demand trend for small domestic equipment and contingencies for the pace of recovery for professional coffee.

For an update on how the coronavirus pandemic is affecting convenience services, click here.