Seb: FY 2020 sales down 5.6%
(CercleFinance.com) - The electrical household appliance group Seb has posted 2020 sales of 6.
94 billion euros, down 5.6%, including a limited 3.8% fall in organic terms, a negative FX effect of -3% and a positive impact of +1.2% due to changes in its consolidation scope.
In organic terms, the group saw its general public division end the year with almost flat sales (-0.5%), while its professional sales fell by 30.7%, impacted by Covid-related restrictions in the hotel and catering industry.
Expecting a lesser decline in 2020 operating profit from 2020 than at first announced at the end of October (range of -25% to -30%), Seb estimates that this will be around 600 million euros, with ultimately a sound generation of operating cash flow over the year.
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