“Groupe SEB once again posted an excellent year in 2017.
We achieved vigorous organic sales growth of 9.2%, our Operating Result from Activity rose by over 30% and we ended the year with a net debt/adjusted EBITDA ratio of 2.4. The performance of WMF was consistent with our expectations, generating an accretion of 22% on net earnings per share. We thus met the ambitious objectives we had set for ourselves in 2017 and I would like to thank all the Group’s employees for these remarkable results.
Consequently, the Board of Directors has decided to propose to the Annual General Meeting on May 16 a dividend of €2.00 per share in respect of 2017, up 16.3%.
With the integration of WMF, 2017 was also a year of transformation for the Group. Substantial work was already carried out to implement organizational structures, harmonize processes, pool certain central functions and unlock synergies. Value-accretive projects have been launched, both in small domestic equipment and professional coffee.
Obviously, considerable work still remains to be done, and some projects will take time to deliver their full potential. But we are confident in our ability to take best advantage of this transformative acquisition.
In 2018, Groupe SEB aims to achieve further organic sales growth, improve its Operating Result from Activity and continue to reduce its indebtedness.”