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