Coffee Service

Groupe SEB lifts Q1 2022 sales

April 29, 2022

Groupe SEB, a France based multinational that owns Montebellow, California based Wilbur Curtis Co., posted a sales gain in Q1 2022 despite a challenging business climate, according to a press release. Highlights include:

• Sales rose 3.4% from €1.852 billion ($1.94 billion) to €1.915 billion ($2.01 billion), in an environment marked by the conflict in Ukraine, the resurgence of COVID-19 in China and Japan, persisting supply chain issues and inflation. The 3.4% increase includes organic growth of 0.4% and a currency effect of 3.0%.
• The consumer business achieved sales of €1.76 billion ($1.85 billion), up 2.2% and down slightly like-for-like (-0.8%) against 2021. Sales were also up 14% (as reported) from 2019.
• Western Europe revenue decreased 3.2% like for like in first-quarter 2022.
• North America sales were slightly down, while they declined 9% like for like against first-quarter 2021, bolstered by widespread remote working and consumption fostered by government incentives in the U.S.

"We have started 2022 with a solid first quarter against high comparatives and in a more uncertain environment, with the conflict in Ukraine and recent COVID restrictions in China," T. de La Tour d'Artaise, chairman and CEO, said in the press release. "The consumer business is trending positively, with revenue on the rise in most countries. The professional business posted a nice double-digit growth in the first quarter, confirming its gradual recovery and the resumption of several major contracts."