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B U S I N E S S A N D S U S T A I N A B L E D E V E L O P M E N T R E P O R T 2010 GROWING IN fERTILE MARKETS Emerging countries, which are prime markets for new home equipment, are the Group’s growth drivers for the future. Urbanization, a rising middle class, greater purchasing power and the spread of the retail industry all point to rapid development. Most emerging markets affected by the economic crisis have made a quick recovery and are now returning to growth. Already well established in these markets, Groupe SEB was able to benefit from this revived demand, with an increase of 18% in sales in 2010. ADVANCING WITH EMERGING MARKETS The rapid economic development of these countries represents a real source of motive power for the Group’s organic growth. In Brazil, the emergence of a new middle class eager to buy products offers the Group a big opportunity. Present in the Nordeste region of this fast-developing country, with a factory based at Recife and well-known local brands – Arno in small electrical appliances, Rochedo, Clock and Penedo in cookware – Groupe SEB is well positioned to respond to the demands of this new consumer audience with an adapted and targeted offer. A fAST-GROWING MIDDLE CLASS IN BRAZIL: 90 MILLION PEOPLE WITH A 46% SHARE Of PURCHASING POWER HIGHLIGHT ! GROUP REORGANIZATION IN SOUTH AMERICA To improve the efficiency of our structures and reinforce cooperation between our subsidiaries in South America, it was decided at the end of 2009, to regroup them around three multi-country support service clusters, covering Brazil, the Andean Pact countries and Southwest America. These regrouped marketing, sales, logistics and administrative teams gave us a more focused overall picture of our retail clients, and generated powerful synergy benefits which were quickly felt in our business results. In Brazil for example, our strengthened sales force and a more assertive product strategy led to a resurgence of our cookware sales in 2010.
O P E R A T I O N S 44-45 I N T E R N AT I O N A L / E M E R G I N G M A R K E T S TAKEOVER SPURS EXPANSION IN COLOMBIA The Chinese market also saw an explosion in demand. Emerging stronger from the financial crisis, China is now ranked the world's second economic superpower...and our second-largest market. The Group is strategically well placed in this market through Supor’s presence in both small electrical appliances and cookware. Thanks to this famous local brand, our extended and adapted product offer, and an efficient on-the-spot manufacturing base, the Group is in a position to take full advantage of rapid growth in the Chinese market. Even in more restive markets such as those of Central and Eastern Europe or Russia, the strong positions enjoyed by the Group mean it can keep its sights on the long term, while taking measured risks pending economic recovery. The profile of the distribution industry in this zone has been transformed in recent years as a result of concentration and globalization of the retail sector. It remains an essential relay in the revival of consumer spending, particularly through expansion in large cities, which opens up new perspectives for the Group. Established for many years in South America with well-known brands which are leaders in their respective markets, Groupe SEB continues to strengthen its positions and extend its coverage of this zone. The acquisition – announced in July 2010 and finalized in February 2011 – of the Colombian company Imusa, which makes and sells cookware and food and household plastic products, is fully in line with this policy of expansion. The Group – already local market leader in small electrical appliances with its Samurai brand – now becomes leader in cookware as well, with the takeover of Imusa. This gives the Group an excellent opportunity, not just in Colombia, but also generally in South and Central America, where Imusa is already well established, as well as in the United States where a subsidiary of Imusa serves a large Hispanic population. The Imusa profile is well matched to Groupe SEB, which will help us to quickly speak the same language and jointly reinforce our market leadership. IMUSA IN fIGURES 2 brands: 2 factories 2 marketing companies 12 own stores 900 employees
Page 1 and 2: BEYOND LIMITS B U S I N E S S A N D
Page 3 and 4: B U S I N E S S A N D S U S T A I N
Page 5 and 6: 1 Chairman’s message A BUSINESS M
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
Page 13 and 14: G R O U P E S E B I N F I G U R E S
Page 25 and 26: TRANSfORMATION G R O U P E S E B I
Page 27 and 28: O P E R A T I O N S 22-23
Page 29 and 30: O P E R A T I O N S 24-25 T R E N D
Page 31 and 32: O P E R A T I O N S 26-27 B R A N D
Page 33 and 34: O P E R A T I O N S 28-29 20 EMBLEM
Page 39 and 40: O P E R A T I O N S 34-35 THERMO-SP
Page 43 and 44: O P E R A T I O N S 38-39 PRESENT I
Page 45 and 46: O P E R A T I O N S 40-41 I N T E R
Page 47: O P E R A T I O N S 42-43 I N T E R
Page 55 and 56: E X P E R T I S E 50-51
Page 57 and 58: E X P E R T I S E 52-53 WORKING IN
Page 59 and 60: E X P E R T I S E 54-55 OUTSOURCING
Page 61 and 62: E X P E R T I S E 56-57 O P E R AT
Page 63 and 64: E X P E R T I S E 58-59 O P E R AT
Page 65 and 66: E X P E R T I S E 60-61 H U M A N R
Page 71 and 72: S U S T A I N A B L E D E V E L O P
Page 75 and 76: E X P E R T I S E 70-71 E T H I C S
Page 89 and 90: ACKNOWLEDGMENTS This document was p

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