Groupe SEB announces a strategic investment through SEB Alliance in the Blisce fund, a certified B corporation and transatlantic venture capital fund. This investment, aligning with SEB's focus on digital, health/wellness, and sustainable development sectors, aims to enhance opportunities with American startups in Direct-to-Consumer markets. The partnership promises a win-win collaboration, leveraging consumer and market expertise for startup development. The investment reaffirms SEB’s commitment to sustainable growth and innovation in the consumer goods industry.
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Groupe SEB reported solid first-quarter sales of €1,915m, a 3.4% increase compared to 2021, driven by a 0.4% organic growth despite challenges like the Russia-Ukraine conflict and COVID restrictions. The Operating Result from Activity (ORFA) was €140m, down from €198m year-on-year. Net debt rose to €1,850m, reflecting supply chain issues. The Consumer business grew modestly by 2.2%, while Professional sales surged by over 20%. The company maintains its outlook for 2022, aiming for sales growth and increased operating results.
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Groupe SEB announced that its Combined General Meeting will take place on May 19, 2022 at 3:00 p.m. in Paris, to be broadcast live on the company's website. Shareholders are advised to check for any updates regarding meeting procedures, particularly due to COVID uncertainties. Voting options include in-person, by mail, or via the secure platform Votaccess. Shareholder questions must be submitted by May 13, 2022. Notably, the convening brochure will be sent out to registered shareholders starting from April 27, 2022.
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Groupe SEB has submitted its 2021 Universal Registration Document and Financial Report to the French Financial Markets Authority (AMF). Key contents include the Annual Financial Report, Management Report, Corporate Governance Report, and Non-Financial Performance Statement. The document also outlines executive director compensation for fiscal 2021, set for shareholder approval on May 19, 2022. Shareholders can access the report via Groupe SEB's website and the AMF's site. An English translation is forthcoming.
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Lac1 fund, managed by Bpifrance, has acquired a stake in Groupe SEB, a leading player in small domestic appliances. This marks Lac1's fifth investment since 2020, aligning with its strategy to support French companies with strong growth potential. Groupe SEB, with a turnover of €8.1 billion in 2021, operates over 31 brands in more than 150 countries, showcasing robust innovation and market presence. Bpifrance’s involvement in Groupe SEB's governance is expected to enhance growth and value creation strategies, highlighting the group's commitment to sustainability.