SEB S.A.,

SEB is engaged in the design, manufacture and marketing of cookware and small household appliances such as pressure cookers, irons, coffeemakers, deep fryers, toasters, kitchen utensils, breadmakers, mixers, blenders, bathroom scales, vacuum cleaners, fans, heaters, air conditioners and food processors. Co.'s products fall into eight categories: Home comfort, Home care, Food preparation, Linen care, Personal care business, Cookware, Electrical cooking and Beverage preparation. Co.'s brands are All-Clad, Krups, Lagostina, Moulinex, Rowenta, Tefal, Calor/Seb, T-fal/Mirro/WearEver/AirBake/Regal, Arno/ Panex//Rochedo/Penedo/Clock/Samurai/Imusa/Umco, Supor, AsiaVina and Maharaja Whiteline.
  • TickerSK
  • ISINFR0000121709
  • ExchangeEuronext Paris
  • SectorHousehold Goods & Home Construction
  • CountryFrance

Analysts

Delphine Chauvin

Seb : Issuance focus Publication date 19/05/2017 09:54 Writing date 19/05/2017 09:53

Groupe SEB S.A. is preparing to issue a new € 500m unrated bond with a seven-year maturity (2024). In our opinion, it will serve to refinance a large portion of the commercial paper programme, to capitalise on low long-term interest rates and, most important, to avail itself of a little more liquidity headroom (by again accessing the RFC which can be used as a back-up to the CP programme).Operationally, Groupe Seb is still a medium-sized company relative to big names in the sector, but it holds leading positions in most of its markets and boasts a broad geographical spread. The group has eased...

Delphine Chauvin

Seb : Focus Emission

Seb S.A. prépare l’émission d’un nouvel emprunt obligataire, non noté, de 500 m EUR, sur une échéance à 7 ans (2024). Il servira, selon nous, à refinancer une grande partie des billets de trésorerie, afin de profiter des taux de financement bas sur le long terme et surtout, de se donner un peu plus de flexibilité en termes de liquidité (en retrouvant accès au RCF qui sert de back-up au programme de BT).Opérationnellement, Seb est une société de taille encore moyenne par rapport aux grands noms du secteur, mais qui détient des positions de leader sur la majeure partie de ses marchés et bénéfici...

Tony Lebon

Oddo convertible news 16/11/2016

Bayer issued EUR 4bn mandatory convertible bonds as part of the financing package related to the acquisition of Monsanto>

Christophe Chaput

Seb : Une publication S1 robuste, en ligne avec les attentes. Opinion Neutre vs Achat en raison d’un upside désormais limité.

>Des résultats S1 proches des attentes : Ropa 230 M€ vs 233 M€e - Au titre de son premier semestre, le groupe Seb publie des résultats proches de nos attentes. Ceux-ci se caractérisent par : 1/ une progression du chiffre d’affaires de +10.3% à 3 337 M€ (3 315 M€ estimé) en hausse de +10.3% dont +8.4% à périmètre et changes constants. Par différence, la croissance organique au T2 est de +8.2% ce qui est supérieur à nos estimations et celles du consensus (+7%). 2/ Le Ro...

Christophe Chaput

Seb : Plan to improve competitiveness at WMF’s consumer business

>Feedback from conference call - In a press statement released after the close yesterday, Groupe Seb announced the “Agenda 21” plan to improve WMF’s competitiveness. Although the group points to faster growth in the professional coffee segment (2018 sales: € 635m; l-f-l +14.3%; operating margin of 15-20% by our estimates) through greater R&D investment and launching new products, we note that the action plan mainly concerns consumer activities. From a financial s...

Christophe Chaput

Seb : Un plan dédié à l’amélioration de la compétitivité de WMF « Grand Public »

>Feedback conference call - Dans un communiqué publié hier après clôture, le groupe Seb annonce un plan “Agenda 21” dédié à l’amélioration de la compétitivité de WMF. Si le groupe évoque une accélération de la croissance de l’activité Café Professionnel (CA 2018 : 635 M€ ; lfl +14.3% ; MOP15-20% selon nous) à travers des investissements accrus en R&D et le lancement de nouveaux produits, nous soulignons que le plan d’action concerne surtout des activités « Grand Publi...

Charles Henry Mata

GROUPE SEB - A strategy geared to new consumer behaviours

Cedric Rossi

GROUPE SEB | BUY | EUR178 Q1 broad-based performance topped forecasts despite ongoing normalization in China

GROUPE SEB | BUY | EUR178 Q1 broad-based performance topped forecasts despite ongoing normalization in China

2 directors sold after exercising options/sold

Two Directors at Seb Sa sold after exercising options/sold 5,360 shares at between 147.500EUR and 153.398EUR. The significance rating of the trade was 75/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restric...

Alexandre Iatrides ...
  • Benoit Valleaux
  • Christophe Chaput
  • Christophe-Raphaël Ganet
  • Emira Sagaama
  • Emmanuel Matot
  • Florent Laroche-Joubert
  • François Maury
  • Georges Dieng
  • Harald Eggeling
  • Jean Sassus
  • Johanna Jourdain
  • Louis Boujard
  • Matthias Desmarais
  • Michael Foundoukidis
  • Philippe Ourpatian
  • Rémi Adam
  • Samantha Jeary
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 07/24/2019

...

Christophe Chaput ...
  • Emira Sagaama
  • Jerôme Bodin
  • Sven Edelfelt
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 07/11/2019

We have probably reached the bottom of the cycle in the semiconductors sector. The slope of the recovery in H2 remains uncertain. We prefer stocks with their own specific drivers for H2 like ASML, STMicroelectronics and ams. We are downgrading our recommendation for Aixtron to Neutral (vs Buy). - ...

Christophe Chaput ...
  • Emira Sagaama
  • Jerôme Bodin
  • Sven Edelfelt
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 11/07/2019

Nous sommes probablement arrivés au point bas du cycle des semi-conducteurs. La pente de la reprise au S2 reste incertaine. Nous jouons les valeurs ayant des moteurs propres comme ASML, STM ou ams. Nous dégradons Aixtron à Neutre (vs Achat). - ...

Ahmed Ben Salem ...
  • Alfred Glaser
  • Antoine Boivin-Champeaux
  • Charles Lepetitpas
  • Christophe Chaput
  • Delphine Brault
  • Emira Sagaama
  • Florent Laroche-Joubert
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Laurence Hofmann
  • Louis Boujard
  • Martial Descoutures
  • Matthias Desmarais
  • Michael Foundoukidis
  • Nicolas David
  • Philippe Ourpatian
  • Pierre Corby
  • Rémi Adam
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 04/26/2019

...

Ahmed Ben Salem ...
  • Alfred Glaser
  • Antoine Boivin-Champeaux
  • Charles Lepetitpas
  • Christophe Chaput
  • Christophe-Raphaël Ganet
  • Delphine Brault
  • Emira Sagaama
  • Florent Laroche-Joubert
  • François Maury
  • Geoffroy Michalet
  • Georges Dieng
  • Jean Sassus
  • Laurence Hofmann
  • Louis Boujard
  • Martial Descoutures
  • Matthias Desmarais
  • Michael Foundoukidis
  • Nicolas David
  • Philippe Ourpatian
  • Pierre Corby
  • Rémi Adam
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 26/04/2019

...

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the week...

ING
Suvi Platerink Kosonen

Nordic banks/Sizing up the NPS needs

Swedish banks reported solid earnings for 2Q18, while Danske Bank was a negative outlier. Nordea improved mainly due to lower costs. Nordic banks have started to build their MREL buffers with Nordea and Danske Bank issuing bonds in the new non-preferred senior unsecured format. The other Swedish banks are yet to start. We expect the bulk of the upcoming issuance over the next 3-4 years to come in the form of refinancing the outstanding senior maturities with non-preferred senior paper. We prefer Nordea over Danske in NPS, and SEB over Danske in callable Tier 2. Although suffering from company-...

Charles Pinel

Seb - Assemblée générale des actionnaires du 22 mai 2019

GOUVERNANCE A la suite d'évolution au sein de l'actionnariat, un nouveau pacte d'actionnaires a été mis en place qui regroupe VENELLE INVESTISSEMENT, les associés de VENELLE INVESTISSEMENT, GÉNÉRACTION, les adhérents de GÉNÉRACTION et la société holding HPP qui détiennent au total 32,27% du capital et 40,45% des droits de vote. FÉDÉRACTIVE, ses associés et adhérents (9,40% du capital et et 12,23% des droits de vote) ne sont pas parties à ce pacte. La composition du conseil d’administration a été affectée par cette évolution puisqu'il y aura 6 administrateurs adhérant à VENELLE INVESTISSEMENT...

Expert Corporate Governance Service (ECGS)

SEB - AGM and EGM 22 May 2019

As a result of changes in the shareholding structure, a new shareholders' agreement has been put in place which includes VENELLE INVESTISSEMENT, the partners of VENELLE INVESTISSEMENT, GÉNÉRACTION, the members of GÉNÉRACTION and the holding company HPP, who hold a total of 32.27% of the capital and 40.45% of the voting rights. FÉDÉRACTIVE, its partners and members (9.40% of the share capital and 12.23% of the voting rights) are not parties to this agreement. The composition of the Board of Directors has been affected by this change since there will be 6 directors participating in VENELLE INVE...

Seb – Proxinvest Corporate Governance Rating ® : C

Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

Charles Pinel

Proxy Report - 16/05/2018

Our voting policy has been modified this year in order to support the nomination of nonindependent candidates should they demonstrate a commitment to improving governance at their companies (such as adherence to a public voting policy). Given that Fédéractive, in its capacity as main shareholder, has communicated a clear plan on how to pursue improvements in corporate governance at Seb, we recommend support forthe nomination of their representative on the Board (resolution 4). The remuneration of executive directors suffers from extremely poor transparency, in particular due to the fact that ...

Charles Pinel

Proxy Report - 16/05/2018

La politique de vote de Proxinvest a été modifié cette année afin de permettre à un candidat au conseil non libre de conflits d'intérêts potentiels d'être accepté à condition qu’il s’engage sur des progrès de gouvernance conformes aux principes défendus par Proxinvest via une profession de foi ou d’adhésion à une politique de vote publique. Dans ce cadre, il semble que les conditions soient réunies pour approuver le renouvellement du mandat d'administrateur de Delphine Bertrand, adhérente de Fédéractive, l'une des deux holdings familiales principaux actionnaires, dont l'apport au conseil pourr...

Matthieu DRIOL

Short term view - SEB SA : The background trend is clearly bearish.

The background trend is clearly bearish. The movement goes on. The next target is at €119.80, then €113.00. Passing €164.47 would question the continuation of the fall.

Matthieu DRIOL

Analyse court terme - SEB SA : La tendance de fond est clairement orientée à la baisse.

La tendance de fond est clairement orientée à la baisse. Le mouvement se poursuit. Le prochain objectif est à 119,80 €, puis 113,00 €. Le franchissement de 164,47 € remettrait en cause la suite de la baisse.

Matthieu DRIOL

Short term view - SEB SA : The background trend is clearly bearish.

The background trend is clearly bearish. The movement goes on. The next target is at €119.80, then €113.00. Passing €164.47 would question the continuation of the fall.

Matthieu DRIOL

Analyse court terme - SEB SA : La tendance de fond est clairement orientée à la baisse.

La tendance de fond est clairement orientée à la baisse. Le mouvement se poursuit. Le prochain objectif est à 119,80 €, puis 113,00 €. Le franchissement de 164,47 € remettrait en cause la suite de la baisse.

Matthieu DRIOL

Analyse moyen terme - SEB SA : La tendance est incertaine.

La tendance est incertaine. Les cours baissent, et il y a une possibilité d'accélération baissière. Une nouvelle tendance baissière tente de démarrer.

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