Each brand has a well-defined identity, with a specific values which are reflected in the product offering, features and design, as well as in appropriate communication mechanics.
We remain convinced that our balanced business model, combining profitable growth and a resolutely responsible approach, creates value for all and plays a full part in our contribution to better living in households around the world.
9-month 2020 sales and financial data / Ventes et informations financières 9 mois 2020
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* Like-for-like: at constant exchange rates and scope of consolidation.
Groupe SEB reported sales of €1,722 million in first quarter 2019, up 10.4%, including organic growth of 8.5%, a limited positive currency effect of 0.8% (€13 million) and a scope effect of +1.1% (+€17 million). The latter notably comprises the consolidation for a two-month period of the recently acquired US company, Wilbur Curtis, specialized in professional filter coffee, which contributed €12 million to sales.
Relative to the high comparatives, organic growth of 8.5% stands as a very robust performance, which can be broken down as follows:
Operating Result from Activity (ORfA) totaled €138 million in the first quarter, up 12% on first-quarter 2018. The total includes a currency effect of -€7 million as well as scope (Wilbur Curtis) and method (IFRS 16) effects of +€5 million. ORfA was bolstered by brisk business activity despite the environment of intense competition and promotional activity. At this point, it does not include the accounting entries for the initial consolidation of Wilbur Curtis (purchase price allocation).
Net financial debt stood at €2,214 million at March 31, 2019, compared with €1,578 million at end-2018. The increase mainly stems from the recognition of IFRS 16 debt (€351 million) and the acquisition of Wilbur Curtis in February.
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