SEB (SK) AGM 2026 summary

Opening remarks and agenda

• The meeting was held at Pavillon Gabriel on May 12, 2026, chaired by key executives, with webcast access and attendance by board members, employees, and statutory auditors.

• The agenda covered financial results for 2025 and Q1 2026, the Rebound plan, innovation, ESG ambitions, governance, voting on resolutions, and Q&A.

• Written shareholder questions were addressed in advance, and all required documents were made available.

Financial performance review

• 2025 sales reached EUR 8.169 billion (+0.3% LFL), with operating margin at 7.4% (down from 9.7% in 2024), and net profit group share at EUR 245 million.

• Net financial debt rose to EUR 2.342 billion, with financial leverage at 2.7x and over EUR 2.5 billion in available liquidity.

• Q1 2026 sales grew 2.7% like-for-like, with ORFA up 42% to EUR 72 million and operating margin at 3.8%.

• E-commerce and DTC sales showed double-digit growth; online sales grew nearly 10%.

• Professional segment stabilized in H2 2025, with growth in Germany, China, Eastern Europe, and Middle East.

Strategic initiatives and plans

• The Rebound plan launched in 2026 targets EUR 200 million in recurring annual savings by 2027, impacting up to 2,100 positions globally.

• Focus on innovation, digital transformation, and AI integration, with over 800 AI use cases identified.

• Medium-term ambition is 5% annual organic sales growth and operating margin progressing toward 11%.

• Product range reduction, industrial and purchasing efficiency, and enhanced stakeholder engagement are key priorities.

• ESG and circular economy initiatives include energy reduction, recycled materials, and refurbishment centers.