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LONG-TERM FOCUS Our stable investor base (43.7% are Group family shareholders) allows us to look beyond cyclical swings with a strategy oriented to the future. COMMITMENT to corporate responsibility. We aim for both the economic and sustainable development of our company, while being attentive to the wellbeing of humanity and our planet. Our products are more than 70% potentially recyclable. BRAND CAPITAL An outstanding portfolio of 20 famous iconic brands, with complementary appeal that gives greater coherence and added value to our product offer. A GROWTH DYNAMIC fuelled by a balanced combination of organic growth and acquisitions: sales multiplied by 2 between 2000 and 2010; 7 acquisitions or takeovers in 10 years. ETHICAL VALUES inherited from the Group’s founders. Shared by all, these values are another key to our success: spirit of enterprise, a passion for innovation, professionalism, corporate team spirit and respect for the individual.
1 Chairman’s message A BUSINESS MODEL BASED ON PROFITABLE GROWTH Our business model is, first and foremost, focused on achieving growth through innovation, continued global expansion, powerful brands and diversified distribution. It also relies on our ability to be competitive, which springs from our industrial strategy and strict management of invested capital and costs, with a constant eye on the goal of financial stability. 2010: A RECORD PERFORMANCE After a decade of exploits and steady progress, which saw our sales double and our operating margin rise uninterruptedly to almost triple its level over the period, Groupe SEB put in a record performance in 2010. This achievement was built on the sound fundamentals that form the bedrock of our enterprise, underpinned by a stable shareholder base favourable to a long-term outlook, and by the founding values that we put to work each day to meet our obligations to all our stakeholders. To ensure growth, we use innovation – a mainstay of our strategy and a motive force behind our development. Indeed, innovation is built into our genes. The Group’s history is dotted with market triumphs, innovative breakthroughs, clever ideas and novel solutions that offer benefits to consumers and create value. Two recent examples are the minimal-oil Actifry and the Silence Force low-noise vacuum cleaner. Our international expansion, pursued over the last 40 years, has given us the most far-reaching global presence in our industry today, with number 1 positions in many countries. Our comprehensive product offer, spanning most market segments, is built around a large portfolio of powerful brands with high-profile regional or global impact. selling through all distribution channels, both modern and traditional, gives us access to a broad spectrum of consumers. The coordinated deployment of all these vectors of growth can only continue to add to the status of Groupe SEB as a global benchmark in the small Domestic equipment sector. To ensure profitability, the Group’s competitive performance relies on its industrial strategy, based on the expertise of our working teams, unique industrial processes, constant adaptation of our manufacturing base, and a balanced geographic spread of production between mature and emerging markets. Keys to boosting profitability include rigorous management of our plant investment and of the working capital requirement, and strict control of costs. The Group’s performance in 2010 was also thanks to the dynamism of our business model and our resolutely long-term strategy.
Page 1 and 2: BEYOND LIMITS B U S I N E S S A N D
Page 3: B U S I N E S S A N D S U S T A I N
Page 7 and 8: C H A I R M A N ’ S M E S S A G E
Page 9 and 10: G O V E R N A N C E 04 - 05 ACTIVE
Page 11 and 12: G O V E R N A N C E 06 - 07 THE GRO
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Page 25 and 26: TRANSfORMATION G R O U P E S E B I
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Page 31 and 32: O P E R A T I O N S 26-27 B R A N D
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E X P E R T I S E 50-51
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E X P E R T I S E 52-53 WORKING IN
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E X P E R T I S E 54-55 OUTSOURCING
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E X P E R T I S E 56-57 O P E R AT
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E X P E R T I S E 58-59 O P E R AT
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E X P E R T I S E 60-61 H U M A N R
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S U S T A I N A B L E D E V E L O P
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E X P E R T I S E 70-71 E T H I C S
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ACKNOWLEDGMENTS This document was p
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