Coffee Service

Groupe SEB sees record sales for 2021

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February 28, 2022

Groupe SEB, the Ecully, France based parent company of Wilbur Curtis in the U.S., reported record sales for 2021, as the company recovered from lockdowns in the hospitality and catering sectors, according to an earnings release.

Sales in 2021 reached €8.059 billion ($9.05 billion), up 16.1% from 2020, with like-for-like growth of 15.5%. Compared with 2019, which stands as a more normal base of comparison than atypical 2020, revenue grew by 9.6%.

Net profit rose 51% from €301 million ($337.89) to €454 million ($509.64 million), while basic earnings per share rose from €6 ($6.74) to €8.47 ($9.51) and diluted EPS rose from €5.96 ($6.69) to €8.36 ($9.38).

The consumer business 2021 sales totaled €7.43 million ($8.34 million), up 16.7% vs. 2020 and 16% LFL. E-commerce remained a major growth driver throughout the year and its share continued to increase in most markets.

The professional business generated annual revenue of €628 million ($704.96 million), up 10.2% LFL. Thus, in 2021, the division returned to positive momentum following a difficult 2020 financial year, marked by the near-total shutdown in the hospitality and catering sector. The rebound in sales was supported both by the reopening of cafés and restaurants and by the roll-out of contracts.

"Groupe SEB achieved record performances in 2021, with revenue exceeding €8 billion ($8.98 billion) for the first time in its history, operating result from activity up 34% to €813 million ($912.63 million) and net profit of €454 million ($509.64 million), an increase of 51%," T. de La Tour d'Artaise, chairman and CEO, said in the press release. "We are proud to present these results which enable us to distribute a dividend of €2.45 ($2.75) per share."

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