Coffee Service

Wilbur Curtis owner Groupe SEB rebounds in 2021

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January 26, 2022

Groupe SEB, a France based coffee appliance manufacturer which owns Wilbur Curtis in the U.S., generated revenue of €8.059 billion ($9.11 billion) in 2021, up 16.1% compared to 2020.

Organic growth was fueled by robust development in the consumer business, driven primarily by e-commerce and by renewed momentum in professional.

Compared to 2019, which constitutes a more normalized basis of comparison than 2020, very atypical due to COVID-19, annual sales increased by 9.6%.

The professional business generated annual revenue of €628 million ($707.6 million), up 10.2% like-for-like, regaining positive momentum in 2021.

The rebound in sales in the second and third quarters (around 35% versus 2020) was based on the reopening of café-restaurants and the deployment of specific contracts.

North America revenue approached €800 million ($904.28 million) for 2021, with annual sales up 26.6% versus 2020 and 34% versus 2019.

"Groupe SEB achieved a record year in 2021, exceeding 8 billion euros in turnover," T. de La Tour d'Artaise, chairman and CEO, said in the press release. "This exceptional growth, better than anticipated and exceeding 1 billion euros, is driven by the remarkable momentum of the consumer business as well as that of professional coffee, which confirms its recovery. It allows us to offset headwinds and achieve an operating margin of 10%."

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