Seb: sales 5% down in 1st quarter

(CercleFinance.com) - The Seb Group reports sales of 1.
82 billion euros for the first quarter of 2023, down 4.9% in gross figures and 3.7% in constant currency and scope “in a difficult market environment”.

The Operating Result from Activity (ORFA) more than halved to 65 million euros, with an embedded effect of 2022 production costs on the cost of sales, and a negative leverage effect due to the decline in sales.

Seb confirms its 2023 assumptions of a progressive improvement in retail sales, strong growth in professional sales, as well as increased operating margins for the full year.

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