Seb shares gained over 3% on Friday, posting a second session of gains after unveiling its medium-term ambitions at a meeting with investors yesterday.
In the medium term, the group said it was aiming for average annual sales growth of less than 5% at constant exchange rates and scope of consolidation, with an operating margin close to 10% by 2024.
In the medium term, the small electrical appliance manufacturer said it was aiming for an operating margin of around 11%, accompanied by "substantial" annual generation of free cash flow.
At the meeting with the financial community, CEO Stanislas de Gramont spoke of "attractive" growth prospects in a structurally expanding market, driven by the worldwide rise of the middle classes, particularly in emerging countries.
He also indicated that the company intends to become a 'benchmark player' in the professional market, particularly in the world of professional kitchens, as illustrated by its recent acquisitions (La San Marco, Zummo, Krampouz, Pacojet).
'With this CMD, Seb reaffirms the strength and resilience of its business model', reacted analysts at Oddo BHF, citing targets in line with their expectations.
Our fundamental 'outperform' opinion is maintained, against the backdrop of the company's ability to make acquisitions", adds the private bank, which has set a price target of 127 euros.
Analysts warn, however, that after its strong appreciation in recent weeks (+10% over the past month), the share price could take a breather in the short term.
On the Paris Bourse, the share price climbed by 3.2% on Friday morning, having already gained 1.7% yesterday.
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The world leader in Small Household Equipment, SEB S.A. relies on 35 flagship brands (Tefal, Seb, Rowenta, Moulinex, Krups, Lagostina, All-Clad, WMF, Emsa, Supor, etc.) and a broad product portfolio:
- cookware: frying pans, saucepans, pressure cookers, utensils, etc.;
- small culinary appliances: items for electric cooking (deep fryers, rice cookers, pressure cookers, etc.), beverage preparation (coffee makers, kettles, etc.) or food preparation (blenders, food processors, etc.);
- small non-culinary household appliances: linen care equipment (irons, steam generators, steamers, steamers, etc.), vacuum cleaners, fans, and personal care equipment (hairdressing and depilation appliances, etc.).
At the end of 2023, the group operated 41 manufacturing sites worldwide.
Net sales are distributed geographically as follows: Western Europe (34.1%), Europe/Middle East/Africa (15.2%), China (27.9%), Asia (7%), North America (10.9%) and South America (4.9%).
SEB S.A. 
