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Seb: H1 net income halved

( - Seb has reported a net profit of 72 million euros for H1 2022, less than half the 151 million posted at the end-June 2021, and an operating margin of 5.
4% compared with 8.9% a year earlier.

The household electrical appliance manufacturer sales edged up 1.6% to 3.67 billion euros, with a 2.3% organic decline offset by a currency effect of +3.9%, mainly resulting from the yuan and the dollar.

As Seb does not anticipate any significant improvement in the economic situation by the end of the year in mature countries, Seb is revising its assumptions for 2022, with sales remaining stable overall and an operating margin of between 8% and 8.5%.

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