Groupe SEB's Provisional Consolidated Sales at September 30, 2002: Growth Confirmed

A Good Third Quarter With Solid Growth at Former Scope of Consolidation and Rising Sales from Krups-Moulinex


ECULLY, France, Oct. 14, 2002 (PRIMEZONE) -- Groupe SEB:


                    Former scope of consolidation
                         In millions of Euros
                                                    YOY change     
                                                Current    Constant
                             9 months           exchange   exchange
                         2001         2002         rates     rates

 France                   323           350         8.3%     8.3%  
 Other EU countries       367           374         1.9%     2.0%  
 North America            208           212         1.6%     4.6%  
 South America            108           102        -5.3%    12.9%  
 Other countries          214           255        19.0%    21.6%  
 TOTAL                  1,220         1,293         5.9%     8.5%  

                      New scope of consolidation
                                                      YOY change   
                         Krups-                  Current   Constant
                       Moulinex   Consolidated  exchange   exchange
                         sales         sales       rates    rates  

 France                    75           425        31.4%    31.4%
 Other EU countries       133           507        38.1%    38.2%
 North America             94           306        47.0%    50.0%
 South America              2           104        -3.1%    15.1%
 Other countries           86           341        59.2%    62.0%
 TOTAL                    390         1,683        37.9%    40.5%

Consolidated sales for the first nine months of 2002 rose 38% from the year-earlier period to Euro 1,683 million. Krups-Moulinex contributed Euro 390 million to the total, reflecting the gradual increase in sales from these two brands. At the former scope of consolidation, i.e., excluding Krups-Moulinex, sales increased by 5.9%.

Certain trends seen in the first half were accentuated in the third quarter. These included a noticeable upturn in European sales and strong growth in numerous other countries, on the one hand, but a heavier negative currency effect, notably with regard to the dollar and the Brazilian real, and slower US sales on the other.

-- In France, sales trends remained very favorable. In particular, the Group recorded a solid performance in personal care appliances, the breakfast line and pressure cookers, with the confirmed success of the new Clipso Control.

-- The situation improved substantially in the other EU countries during the third quarter, notably in Germany and the UK, and sales continued to rise in Spain, Portugal, Greece and Benelux but registered a slight decline in Italy. Krups-Moulinex sales increased once again.

-- In North America, the third quarter was shaped by a significant slowdown in business in Mexico, hit hard by adverse currency and economic conditions, and in the United States, where sales excluding Krups declined. However, sales in Canada continued to grow.

-- In South America, the end of the energy crisis in Brazil led to an upturn in business. However, sales growth in reals was offset by the currency's depreciation against the dollar and the euro. The situation was generally difficult in the rest of Latin America.

-- In the rest of the world, the Group continued to develop actively in Central Europe, the CIS, the Middle East, South Korea, China and Australia. Growth rates remained strong and Krups-Moulinex made a very significant contribution in certain regions.

Although the outlook remains satisfactory for the end of the year, consolidated sales growth will not reach the same levels in the fourth quarter since the prior-year comparative already partially included Krups-Moulinex.


                        France             EU         North and South
 In millions of                                          America
      euros
 (Rounded figures)   2001    2002     2001    2002     2001     2002

 Q1                   100     134      118     156      105      133
 Q2                   114     149      127     170       97      134
 Q3                   109     142      122     181      115      143
 Total                323     425      367     507      316      410

                     Other countries       Total        YOY change 
                      2001     2002     2001    2002      

 Q1                    73      112      395     535         35.5% 
 Q2                    71      106      409     559         36.6% 
 Q3                    70      123      417     589         41.3% 
 Total                214      341    1,220   1,683         37.9% 


 Full-year sales press release: January 14, 2003


            

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