groupe seb worldwide sales soar 8.2% to aed 15.4 billion in 2007
“Year marked by robust growth buoyed by sustained demand” - Top Exec tells 100 UAE distributors in Dubai
Groupe SEB, the world leader in small domestic kitchen appliances, beauty products and home equipment, announced a very good year with fourth quarter sales firmly up and full year sales of AED 15. 4690 Billion (€2.869) in 2007.
The announcement was made at a meeting of UAE distributors held recently at Renaissance Hotel, Dubai by Mr. Rodolphe Lavoise, Export Development Director, Groupe SEB. “This robust growth was achieved in a generally favourable market environment, in both volumes and prices, buoyed by sustained demand.”
He added that the 2007 sales included a “much negative currency effect than in 2006, at AED 207 million (€38.6 million) versus AED 37.48 million (€7 million). This was due to the further decline of the Group’s major functional currencies – including the US dollar, the Japanese yen, the Russian rouble and the Korean won – against the Euro.”
Mr. Lavoise further stated that the Groupe SEB’s 2007 sales did not include the contribution of Chinese company SUPOR, which was accounted for by the equity method over the last four months of the period. “Changes in the scope of consolidation amounted to AED 145 million €27 million and are related to MirroWearEver’s full year contribution of AED 288 million (€53.8 million).”
The Middle East and North Africa region offers great potential for Groupe Seb’s products. The economic growth the region has been experiencing coupled with the boom in home and property ownership will definitely see Groupe SEB products consolidating their already established market leadership.
The world leader in small domestic equipment, Groupe SEB operates in more than 120 countries with a unique portfolio of top brands marketed through multi-format retailing. Selling some 170 million products a year, it deploys a long-term strategy focused on innovation, international development, competitiveness and service to clients. Groupe SEB has 13,800 employees worldwide.
