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SEB (SK) investor relations material

SEB Q4 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q4 2025 earnings summary25 Feb, 2026

Executive summary

  • 2025 closed with slight organic sales growth of 0.3% in a complex environment, meeting revised targets and launching a Rebound plan to restore profitable growth, targeting €200 million in recurring savings by 2027 and up to 2,100 positions affected globally.

  • Sales reached €8,169 million, with operating margin at 7.4% and net profit group share at €245 million, up from €232 million last year, which was impacted by a €190 million Competition Authority fine.

  • The Rebound plan focuses on innovation, digital marketing, operational efficiency, and organizational simplification.

  • Board proposes a stable dividend of €2.80 per share.

Financial highlights

  • Sales reached €8,169 million, up 0.3% LFL, but down 1.2% reported; Consumer business up 1.1% LFL, Professional down 5.9% LFL.

  • Operating Result from Activity (ORFA/ORfA) fell to €601 million, down 25% year-over-year, with operating margin at 7.4% (down from 9.7%).

  • Net profit group share was €245 million (3.0% margin), up from €232 million prior year.

  • Free cash flow for the year was €124 million, with strong H2 generation of €337 million.

  • Net financial debt increased to €2.34 billion, with leverage at 2.7x (2.5x excluding the fine); target to return to 2x by 2027.

Outlook and guidance

  • Priority for 2026 is to return to ORFA/OCFA growth and normalized free cash flow generation.

  • Financial leverage targeted to return to around 2x by 2027.

  • Midterm ambition: 5% annual organic sales growth and operating margin of 10%, progressing toward 11% before 2028.

  • Most Rebound plan savings to materialize in 2027, with limited impact in 2026.

Rebound plan's operational agility pillars?
Drivers of North America's Q4 rebound?
Specific causes of ORfA decline in 2025?
Quantify net profit impact from Rebound savings
New coffee hub: What is the ORfA margin target?
US market: How do new tariffs affect 2026 recovery?
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Frequently asked questions

The Kings of Cookware

Société d'Emboutissage de Bourgogne, or SEB for short, is a multinational company that has carved out a niche for itself in the world of small domestic appliances and cookware. Founded in 1857 in Selongey, France, SEB SA has over the years established itself as a trusted name when it comes to kitchenware and household goods. Driven by a commitment to quality and practicality, the company has a diverse portfolio of well-known brands under its umbrella, and its products can be found in millions of households worldwide.

From Smelting to Cookware

SEB initially embarked on a venture in aluminum smelting. However, by the early 20th century, the company's focus had shifted to the production of cookware. A major milestone for the company came in the 1950s when SEB introduced its first pressure cooker to the market, an item that was well received from the get-go. In pursuit of growth and diversification of its offerings, SEB has strategically acquired multiple brands over the decades. These acquisitions include Tefal in the 1960s, known for non-stick cookware, Moulinex and Rowenta in the 1980s for appliances, and later, Krups, a leader in coffee and drink equipment.

Cookware Kings

Cookware is SEB’s bread and butter. Its product range in this category comprises a diverse array of items, notably non-stick pans, pressure cookers, and various types of pots. The products are manufactured with an emphasis on long-lasting durability and practical functionality, something that has been well-received by consumers over the years. SEB has established its position in the market primarily based on the quality and reliability of its cookware offerings. The company's approach to product development is rooted in thorough research, ensuring that the cookware meets the demands and standards of both professional chefs and home cooks and as a result, SEB cookware has found its place in kitchens worldwide.

Household Appliances

Beyond its renowned cookware range, SEB SA offers a diverse array of household products. Their extensive portfolio includes small domestic appliances such as coffee makers, kettles, and toasters. It also produces items like hair dryers and hair straighteners. Additionally, SEB has a footprint in the linen care segment, offering products like irons and garment steamers. The company's commitment to innovation and quality runs throughout all of the different categories of products offered.

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