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Groupe SEB Reports Strong First-Half 2008
Aug 28, 2008
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Groupe SEB reported a 15% increase in consolidated revenue for the first-half 2008, to €1,417 million (approx. US$2.094 million). Compared with 2007, the company said that performance was more varied geographically, with a second-quarter slowdown in Western European countries, but a return to growth in the United States and sustained rapid development in emerging markets.

Operating margin in the first half increased by nearly 50% to €117 million ($172 million), including a €13 million ($19 million) contribution from recently consolidated Supor.

Operating profit rose by more than 80% to €94 million ($138 million) for the period.

The company said that the second half of 2008 is "not expected to see any trend breaks, either in exchange rates, with the euro probably remaining strong, or in raw material prices, which should stay high. The consumer environment should also remain varied, with mature markets experiencing a slowdown and emerging markets, in which Groupe SEB generates 45% of its revenue, maintaining their rapid growth."

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