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Groupe SEB has released its half-year financial report for June 30, 2022, available to the public and filed with the AMF. The report includes consolidated half-year financial statements, a half-year activity report, a statement by the responsible person, and the Statutory Auditors' review. Key upcoming date: October 24, 2022, for 9-month sales and financial data. The report and additional information can be found on Groupe SEB's website.
Groupe SEB has acquired Zummo, a top Spanish manufacturer of automatic fruit juice extraction machines, to enhance its professional market offerings. This strategic acquisition aligns with SEB's goal to expand in the profitable professional segment, which accounted for €628 million in revenue in 2021, or 8% of total sales. Zummo, founded in 1992, operates globally and generated approximately €25 million in revenue in 2021. The acquisition is expected to create synergies, particularly in SEB's professional coffee business, enhancing the ecosystem for customers in hospitality and food services.
Groupe SEB reported a resilient first half of 2022, with sales reaching €3,666m, up 1.6% year-on-year, despite a challenging economic environment characterized by rising inflation and the Ukraine conflict. The second quarter saw sales decline to €1,750m, down 0.4%, with a significant drop in the Consumer business, particularly in EMEA. Operating Result from Activity (ORFA) fell to €199m, reflecting a drop in profitability. The company anticipates stable sales and an operating margin target of 8% to 8.5% for the year while addressing supply chain tensions through inventory management.
SEB S.A. has established a liquidity contract with Rothschild Martin Maurel effective July 1, 2021, for a renewable one-year period. As of June 30, 2022, the dedicated liquidity account held 1,100 shares and €1,848. In comparison, the account had no shares and €1,994 at the end of 2021. From January 1 to June 30, 2022, 563 purchase transactions and 472 sales were executed. Total exchange volumes included 16,181 shares purchased totaling €2,150,865.88 and 15,081 shares sold totaling €2,004,067.16.
On June 1, 2022, SEB S.A. executed a securities repurchase program as authorized by its shareholders on May 19, 2022. The program, previously disclosed to the AMF on May 13, 2022, involved the purchase of 45,821 ordinary shares at a weighted average price of €99.70. The transactions were conducted by EXANE SA on the CEUO stock exchange.
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