World leader in cookware & small domestic appliances seeks to consolidate in MENA region
For 2006 Groupe SEB reported consolidated sales totaling AED 12.66 billion (US$3.44 billion), an increase of 7.6% at current exchange rates and 7.9% at constant exchange rates.
The company's other brands include All-Clad, Airbake, Arno, Calor, Clock, Mirro, Panex, Penedo, Rochedo, Samurai, Seb, and WearEver besides Lagostina.
Illustrating the company's international standing, Rodolphe Lavoise, Export Development Director, Groupe SEB, said: "Currently Groupe SEB is ranked World Number One globally in Cookware, Pressure cookers, Steam irons and steam generators, Kettles, Steam cookers, Food-preparation equipment, Toasters, Electric fryers, and Informal meal appliances"
"Groupe SEB achieved robust growth during the year 2006 with significant improvement in organic growth and continued rapid international expansion including in the Middle East and the North Africa region where its new products were well-received and existing products saw higher sales," remarked Mr. Lavoise.
During 2006, Groupe SEB launched 202 new products and models, up 14% on 2005. This product drive is the reflection of a vast and differentiated innovation policy concerning all levels of the range.
This year Groupe SEB expects to achieve further organic growth in revenue, improved operating margin and pursued reduction in debt at constant scope of consolidation
"The development of major novelties is associated with the mastery of innovative technologies such as the exclusive non-stick coating Top-Coat which is used with our most recent cookware, hydraulic controls - another Group exclusivity - for the fully automatic Expresseria Automatic XP 7200 espresso coffee maker, or the motorisation of large food processors," said Mr. Lavoise.
"The Middle East and North Africa region offers enormous potential for our products. The economic growth the region has been experiencing coupled with the boom in home and property ownership will definitely see Groupe SEB products consolidating their already established market leadership," Mr. Lavoise concluded.
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© Press Release 2007
