Groupe SEB Revenue Rises 2.7 Percent in Q1
ECULLY CEDEX, France-Fueled by sales growth in North America, South America and the Asia/Pacific Region, Groupe SEB posted a 2.7 percent gain in revenue in the first quarter, totaling EUR931 million ($1.2 billion).
A company statement said its sales reflected a "mixed picture," with some of the revenue increase coming from pickups in sales volume plus low prior-year comparisons. Nevertheless, Groupe SEB said, the first quarter (which ended on March 31) represented "a clear break with the downward trend noted in second half 2012."
Revenue in North America rose 5.2 percent, thanks in part to an economic environment in the U.S. that was "a little more buoyant" than last year. T-fal-branded cookware posted strong gains here, while business in the All-Clad and Emeril lines was somewhat lackluster. The expansion in coffeemakers brought "renewed vitality" to the Krups brand, while Rowenta consolidated its position in a U.S. ironing market that showed further declines overall.
By region, the strongest increase came in the Asia/Pacific area. Sales in China were up sharply, and Japan sales gained momentum in January and February, followed by a slowing down in March. While sales in South Korea were sluggish, Groupe SEB made "further inroads" in Thailand, Malaysia, Taiwan and Vietnam.