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Daily News

Groupe SEB Reports Increased Sales
Jul 13, 2005
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France-based small appliance maker Groupe SEB reported that consolidated sales increased 3.3 percent to 1.0 billion euros (approx. U.S. $1.2 billion) for the 6-month period ended June 30, 2005.

Groupe SEB said that the increased sales were achieved despite an ongoing challenging European market. In France, the company said consumer spending remained weak as sales decreased 7.2 percent to 238.2 million euros (approx. $288.6 million) compared to 256.7 million euros (approx. $311 million) during the same period of 2004. Groupe SEB said demand was weak for vacuum cleaners and fryers but sales for Nespresso espresso machines, steam machines, and pressure cookers were strong.

For the rest of Europe, sales fell 9.3 percent to 278.8 million euros (approx. $337.7 million) compared to 307.4 million euros (approx. $372.4 million) in the same period last year. The company said sales were poor in Italy and Germany, but strong in Scandinavia.

The North American market was strong as sales increased 28.2 percent, totaling 135.6 million euros (approx. $164.3 million) compared to 105.7 million euros (approx. $128 million) in the same period of 2004. The increase was attributed to new Krups coffeemaker and Rowenta iron product introductions.

According to the company, it won new market share in Brazil and continued to expand in Venezuela and Argentina. Sales increased 30.5 percent to 74.6 million euros (approx. $90.4 million) compared to 57.2 million euros (approx. $69.3 million) in the same period last year.

In other parts of the world, including Asia, Japan, Australia, and Turkey, sales increased 13.2 percent to 275.9 million euros (approx. $334.3 million) compared to 243.8 million euros (approx. $295.4 million) in the same period of 2004.

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