Groupe SEB reported a 7.6 percent increase in sales in 2005, despite what it called a highly competitive, varied business environment. It said the increase reflects its advances in international markets and the impact of recent acquisitions. SEB's (Ecully, France) operating margin was stable at 262 million euros (approx U.S. $314 million) while attributable profit declined 21 percent to 103 million euros (approx. $124 million) after restructuring, interest and taxes.
"Our 2005 performance was mixed," said Chairman and CEO Thierry de La Tour d’Artaise. "While it confirmed the validity of our strategic focus on international development and acquisitions, it was nonetheless impacted by structural changes in European markets. That's why we have acted resolutely and responsibly, taking measures that will enable Groupe SEB to continue building its future in a reshaped market."
Calling the early 2006 outlook in Europe uncertain, SEB is continuing with international development and research programs and expects them to fuel a return to organic growth. The company will also carry on with reorganization programs in France.
Groupe SEB is a world leader in small domestic appliances, operating in more than 120 countries under brand names that include All-Clad, Arno, Calor, Krups, Lagostina, Moulinex, Panex, Rowenta, Samurai, Seb, and Tefal.
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