The French appliance manufacturer says improved coffee machine sales in Germany and its Luckin Coffee partnership in China underpinned ‘resilient’ full-year group sales
Full-year sales for Groupe SEB’s Professional division grew 15% to reach €725m | Photo credit: Schaerer
Ecully-based small appliance manufacturer Groupe SEB has credited its Professional Coffee division for a ‘resilient sales performance’ in 2022.
The company achieved revenues of €7.9bn ($8.6bn), 4.7% less than 2021 on a like-for-like basis but 8.2% higher than 2019.
Full-year sales for Groupe SEB’s Professional division grew 15% to reach €725m ($785m), led by machine deliveries and services in the company’s Professional Coffee segment, comprising the Schaerer, WMF and Wilbur Curtis coffee brands.
Professional Coffee fourth quarter sales increased 17% across all regions.
Groupe SEB said strong coffee machine sales in Germany and the acceleration of commercial synergies between Schaerer and Wilbur Curtis in the US were key performers in the category.
The French company acquired Wilbur Curtis in February 2019, a purchase Groupe SEB said would help it ‘become one of the leaders in the professional coffee business in the US'.
Additionally, the company cited the roll-out of its fully-automatic Schaerer coffee machines to China’s Luckin Coffee as a ‘main driver’ of sales growth, opening ‘several hundreds of points of sale’ across the East Asian country.
“After a record year in 2021, Groupe SEB delivered a resilient sales performance in 2022, resisting well across most of the group’s geographies and showing a slightly more favourable trend in the fourth quarter. The Professional business showed strong momentum during the year and continues to be a significant growth lever for the group as a whole,” said Stanislas de Gramont, CEO, Groupe SEB.
Groupe SEB operates 32 small domestic equipment brands across 150 countries, selling more than 417 million products annually.