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360° 

ourvision

BUSINESS 

and SUSTAINABLE 

DEVELOPMENT 

report 

2011

.. 

. 

-MAHARAJA- 

WHI TEL INE

Turnover 

Operating result from 

activity 

Net income 

Debt 

Workforce as at 31/12 

|Key figures 2011 

€453 million •+3.5% 

€235 million •+6.4% 

€673 million •+€542 million vs 2010 

25,000 pers • +2,000 pers vs 2010 

€3,963 million • +8.5% 

• +6.9% at constant parity 

|Leading positions 

Western 

n°1 

Europe 

• n°2 • n°2 

• n°1 • n°2 • n°1 • n°1 

• n°1 

Cookware 

Small electrical appliances 

• Small domestic equipment 

panorama 

2011 

• n°1 

• n°1 • n°1 

• n°2 • n°1 

• n°2 

GLOBAL LEADER 

IN SMALL DOMESTIC EQUIPMENT 

PRESENCE IN MORE THAN 150 COUNTRIES 

29 PRODUCTION SITES 

65 MARKETING COMPANIES 

TOP RANKING MARKET POSITIONS IN MORE THAN 25 COUNTRIES 

|2011 Breakdown of sales by geographical zone 

(21%) Asia / Pacific 23% 

18% France (19%) 

(18%) Central Europe, Russia and other countries 18% 

20% Other western EU countries (22%) 

(9%) South America 11% 

10% North America (11%) 

2010 figures

Governance 01 

A Group with 

a LONG-TERM VISION 

What were the most significant events of the past year? 

2011 turned out to be a particularly active year for the Group from 

every perspective. We successfully managed the relaunch of the 

Moulinex brand in Europe and we continued our expansion in 

emerging markets, in particular through acquisitions and our 

increased stake in Supor. We enhanced our innovation tools by 

creating an investment company, SEB Alliance, to acquire holdings 

in start-up technologies. Finally, we diversified our financing sources 

by launching our inaugural bond issue of €300 million... 2011 has 

without doubt been a busy year for Groupe SEB! 

Interview with the Chairman and CEO 

THIERRY DE LA TOUR D’ARTAISE 

In a more difficult economic context, how did Groupe SEB 

manage to achieve such a strong performance in 2011? 

Our results have been very satisfactory - sales, operating result from 

activity, operating profit and net income all achieved record levels 

last year. This performance is all the more remarkable when 

compared with 2010, a year that was already exceptional. The year 

was admittedly full of contrast, with a first half stimulated by 

buoyant markets - with the exception of countries such as Greece, 

Portugal and Spain - and slowed growth at the end of the year, 

especially in Europe. Overall, however, we benefited from the 

growth of our markets and new impetus from the launch of new 

products, with gains in market share as well. At the same time, we 

have been able to count on the responsiveness of all of our 

employees, which has enabled us to control our costs. I would like 

to take this opportunity to thank them.

STRONG 

PERFORMANCE 

IN 2011 

You carried out a number of acquisitions last year. What 

have these contributed towards Groupe SEB? 

We acquired the Colombian company Imusa at the beginning of the 

year, then we took over Asia Fan in Vietnam in May and Maharaja 

Whiteline in India in December. These acquisitions have enabled us 

to accelerate our growth or get a foothold in these countries, by 

bringing in brands known to local consumers, sales teams and 

production sites. When it comes to external growth, we look for 

complementary companies, which either give us access to countries 

in which we don't yet have a presence or are not very well 

established or open up a family of products in which our presence 

is still embryonic. We can then immediately take up a position in 

tomorrow’s key markets, by integrating in particular the skills of local 

teams in developing specific products that are adapted to local 

markets - soya milk extractors in China, spice mixers in India etc. 

We also increased our holding in our Chinese subsidiary, Supor, last 

year, bringing it to 71%. This reinforces our initial long-term 

investment made in 2007. The founding family of Supor are still 

shareholders in the business and the founder's son, Xianze SU, is 

Chairman. Supor is still listed on the Shenzhen stock exchange, 

which is a guarantee of good transparency and governance. 

Does your international strategy include a corporate 

responsibility dimension? 

The Group has been involved in the fight against exclusion for 

several years now through the Groupe SEB Foundation, 

focussing on housing, training and employment, and not only 

in France. Our approach is based on numerous campaigns 

across all continents. In Brazil, for example, Arno is heavily 

involved in the shanty towns, with a practical and educational 

approach towards nutrition (making bread, optimum use of 

foodstuffs etc.). In China, Supor has been involved in building 

schools in very remote areas for several years now. The 

numerous initiatives taking place all over the world unite our 

employees, including those from newly acquired companies, 

affording them a sense of pride and belonging. 

How do you deal with current diversity issues within 

Groupe SEB? 

We have more than 60 subsidiaries worldwide and multiculturality 

is an everyday reality for the Group. We try to make the most of it 

by encouraging international mobility, helping us to enrich our 

teams, which are made up of very diverse nationalities. The Group 

has also created organisations for monitoring internal diversity and 

has set up, in France for example, associative partnerships with a 

view to increasing the number of people we hire from minority 

groups (Nos Quartiers ont des Talents, Institut Télémaque, Mozaïk RH). 

At the same time, we ensure gender equality in the workplace in 

terms of pay, training and career development. This approach, which 

is long established within the Group, was formalised in 2011 by an 

agreement to promote equality and deter discrimination. 

In practice, we focus on a single criterion - competence, regardless 

of its type or where it comes from. We also encourage this kind of 

initiative in all of our subsidiaries. 

02 Business and Sustainable Development Report 2011

Governance 03 

How is 2012 looking so far? 

At this stage, it's difficult to see how things will turn out in 2012 

and there are a lot of unanswered questions as to how consumer 

spending will hold up, developments in exchange rates and raw 

material prices etc. We also need to take into account the fact that 

2010 and 2011 were record years and are therefore a difficult act to 

follow... In this context, we anticipate a rather difficult scenario for 

the first half of the year in Europe, following the same vein as the 

end of 2011, but we are counting on a slight upturn in the second 

half of the year. On the other hand, we anticipate sustained growth 

in emerging markets. We are therefore confident but we are 

nevertheless exercising a degree of caution when it comes to 

investing funds this early in the year, without compromising research 

and development and scheduled new product launches. Following 

two years of exceptional performance, 2012 is likely to be a year of 

transition, for which we anticipate increasing turnover and a good 

level of resistance for our operating result from activity. 

which already account for 45% of our turnover. Our future 

expansion will be boosted in these countries by internal growth as 

well as by acquisitions. 

Thierry de La Tour d’Artaise 

Chairman and CEO 

To conclude, what are your ambitions for the years to 

come? 

Our strategy remains resolutely oriented towards the medium and 

long term. It will continue to focus on innovation and international 

growth. In mature markets, true innovations are hugely popular 

with consumers. Similarly, emerging markets such as China are very 

keen on increasingly sophisticated products. Our subsidiary Supor 

has received a major boost to its powers of innovation thanks to the 

Group. The field of investigation in our business is still wide open. 

The only limit to innovation is that imposed by our own imagination. 

Our future is also based on international expansion. Whilst mature 

markets - which already have a widespread use of equipment - are 

experiencing moderate but regular global growth rates, emerging 

markets have a huge potential for growth. The fast-developing 

middle classes in emerging markets are increasingly aspiring to 

improve their everyday lives. This is why we are resolutely 

strengthening our presence in these new economies of the future, 

OUR STRATEGY 

REMAINS 

FOCUSED ON INNOVATION 

AND INTERNATIONAL 

GROWTH

Clear operating principles 

Representative of all the shareholders, the Board of Directors determines Group strategy and 

makes decisions about Group management structures and takeovers. It also carries out any audits 

or verifications, whenever necessary. 

The Board of Directors comprises 15 members elected for four-years terms renewed on a rotating basis. 

Four of these are independent Directors, in compliance with AFEP-MEDEF corporate governance principles. 

It operates specialist sub-committees to assist it in specific areas. Each committee reports the findings 

of its studies and preparatory work in its specialist area to the Board. 

BOARD OF DIRECTORS 

1- TRISTAN BOITEUX 

Member of the Founder group, 

member of FÉDÉRACTIVE, aged 49. 

102,758 shares held (of which 99,743 

bare-owner shares). 

5- HUBERT FÈVRE 



533,503 shares held (of which 533,503 bare-owner 

shares). 

THIERRY DE LA TOUR D’ARTAISE* 

Member of the Founder group, aged 57. 

Chairman and Chief Executive 

Officer of SEB SA. 

125,417 shares held. 

2- DAMARYS BRAIDA 


member of VENELLE INVESTISSEMENT, aged 44. 

187,194 shares held (of which 173,243 bare-owner 

shares). 

3- NORBERT DENTRESSANGLE 

Independent Director, aged 57. 


4- FÉDÉRACTIVE 

Member of the Founder group. Shareholder 

investment company, represented by its Chairman, 

Pascal Girardot, aged 56. 

10,152,018 shares held (of which 10,152,015 

usufruct shares). 

6- FFP – SOCIÉTÉ FONCIÈRE, FINANCIÈRE 

ET DE PARTICIPATIONS 

A holding company listed on the Paris stock exchange 

and majority-held by the Peugeot family group, 

represented by Christian Peugeot, aged 58. 

2,521,522 shares held. 

7- JACQUES GAIRARD 


member of VENELLE INVESTISSEMENT, aged 72. 

Chairman and Chief Executive Officer of SEB SA from 

1990 to 2000, 


8- JEAN-NOËL LABROUE 


Managing Director of Kingfisher Electricals UK and 

Kesa PLC until 2009. 

800 shares held. 


Governance 05 

Active committees 

The Audit Committee informs the Board on the identification, evaluation and handling of the 

principal risks to which the Group may be exposed. In particular, it ensures the suitability of methods used 

for drawing up accounts. It advises and makes relevant recommendations to the Board , and participates 

in the appointment of statutory auditors. It met four times in 2011, with 94% attendance. 

4 members Philippe Lenain, Chairman, Norbert Dentressangle, Hubert Fèvre representing 

FÉDÉRACTIVE, and Jérôme Wittlin representing VENELLE INVESTISSEMENT. 

The Nominations and Remunerations Committee reports to the Board on its work and 

makes recommendations regarding the composition of the Board, the terms of office of its members and 

the organisation and structure of the Group. It also makes proposals to the Board on policy for the remuneration 

of company officers, and on stock option plans. It met three times in 2011, with full attendance. 

4 members: Jean-Noël Labroue, Chairman, Philippe Lenain, Pascal Girardot representing 

FÉDÉRACTIVE, and Olivier Roclore representing VENELLE INVESTISSEMENT. 

1 2 3 4 5 6 7 

8 9 10 11 12 13 14 

9- PHILIPPE LENAIN* 


Former Vice-President and Director of Danone group. 


10- CÉDRIC LESCURE 



530,356 shares held 

(of which 512,575 bare-owner shares). 

12- JEAN-DOMINIQUE SENARD 


Managing General Partner of the Michelin group. 

13- VENELLE INVESTISSEMENT* 

Member of the Founder group. 

A family company, represented by Olivier Roclore, 

aged 57. 

7,461,243 shares held 

(of which 7,443,341 usufruct shares). 

At 31 December 2011, 

Board members held 43.58% 

of capital and 56.39% 

of voting rights. 

11- FRÉDÉRIC LESCURE 



46,265 shares held 

(of which 39,270 bare-owner shares). 

14- JÉRÔME WITTLIN* 


member of VENELLE INVESTISSEMENT, 

aged 52. 

47,262 shares held (of which 330 bare-owner shares). 

*Renewal proposed at 

the AGM of 10 May 2012.

The Executive Committee defines and implements overall Group strategy. In addition to the 

Chairman and Chief Executive Officer, it comprises five members with rich and multicultural professional 

experience. Having worked in major international groups in France and abroad, they now occupy key 

company functions. Meeting twice a month, the Group Executive Committee oversees strategic plans, 

defines consolidated goals, decides on priorities and allocates resources for Strategic Business Areas, 

Continental Structures and Group Functions. 

1 2 3 4 5 6 

MANAGEMENT BODIES 

1- THIERRY DE LA TOUR D’ARTAISE 

Chairman and Chief Executive Officer of SEB SA since 2000, 

aged 57. 

A graduate of the Ecole Supérieure de Commerce de Paris, 

he began his career in the United States as Financial Controller 

at Allendale Insurance Johnson Rhode Island. He then worked 

for Coopers & Lybrand in Paris as a Manager in the Audit 

department. He continued his career as Chief Financial Officer 

and later as Chief Executive Officer of Croisières Paquet (Groupe 

Chargeurs). 

He joined Groupe SEB in 1994, becoming Chairman of Calor, 

before being appointed Deputy Chairman of SEB SA in 1999. 

Board member of Club Méditerranée SA, Plastic Omnium, 

Legrand and CIC (Lyonnaise de Banque). 

Board member of Supor since January 2008. 

2- JEAN-PIERRE LAC 

Senior Executive Vice-President, Finance since 2002, aged 61. 

A graduate of the École des Hautes Etudes Commerciales, he 

pursued his career with financial and strategic positions working 

in various countries for Rhône Poulenc, and then for Philips as 

Corporate Treasurer in the Netherlands. Before joining Groupe 

SEB, he was Finance Director and a member of the Executive 

Committee of Aventis Cropscience. 

Board member of Siparex Associés since 2007. 


3- STÉPHANE LAFLÈCHE 

Senior Executive Vice-President, Industrial Operations, since 

2009, aged 57. 

A graduate of the Institut Supérieur d’Electronique de Paris, 

he began his career as a Development Engineer with Dassault 

Electronics. He then moved to the Philips Consumer Electronics 

group, and later to Mannesmann VDO Automotive, before 

returning to Philips Consumer Electronics in 1999 as Director of 

Industrial Operations. 

Director of Supor since March 2010. 

4- BERTRAND NEUSCHWANDER 

Senior Executive Vice-President, Strategic Business Areas, since 

2010, aged 50. 

A graduate engineer of INA Paris-Grignon, he holds an MBA 

from INSEAD. He began his career with Arthur Andersen & Cie., 

later moving to Apax Partners & Cie. He then joined Groupe 

Aubert as Chairman and Chief Executive Officer, and later 

Groupe Devanlay/Lacoste where he served as Managing Director. 

5- HARRY TOURET 

Senior Executive Vice-President, Human Resources since 2002, 

aged 57. 

He holds post-graduate diplomas in management science and 

corporate human resources. He worked for Rhône Poulenc Agro 

in Human Resources, and then for Aventis Cropscience as World 

Human Resources Director. 

6- FRÉDÉRIC VERWAERDE 

Senior Executive Vice-President, Continental Structures, since 

2007, aged 56. 

A graduate of Audencia, Nantes, he gained experience with 

Proctor & Gamble and Renault Trucks before embarking on an 

international career with Black & Decker. He then joined Groupe 

SEB as Director of Products and later became Export Director. 

Appointed Director for Mercosur markets in 1998 in São Paulo, 

he was given charge of the Group’s Cookware business in 2000, 

and of Western European markets in 2005. 



Governance 07 

Chairman and CEO 

Thierry de La Tour d’Artaise 

Strategy 

Patrick Le Corre 

Continental Structures 

Frédéric Verwaerde 

Human Resources 

Harry Touret 

Finance 

Jean-Pierre Lac 

Industrial Operations 

Stéphane Laflèche 

Strategic Business Areas 

Bertrand Neuschwander 

France and Belgium 

Gérard Salommez 

Cookware 

Patrick Llobregat 

Europe 

Luc Gaudemard 

Kitchen Electrics 

Philippe Crevoisier 

North America 

Volker Lixfeld 

Home and 

Personal Care 

Cyril Buxtorf 

South America 

Fernando Soares 

Eurasia 

Martin Zouhar 

Innovation 

Jean-Christophe Simon 

Asia / Pacific 

Xavier Desmoutier 

Members of the Group Executive Committee 

Members of the Group Management Board 

The Group Management Board comprises the members of the Group Executive Committee 

and the Presidents of Strategic Business Areas, Continental Structures, Strategy and Innovation. It meets 

on average every two months to follow up and monitor the Group’s performance and results, and if 

necessary, adjust its commercial or industrial strategy. A forum for exchange of views and reflection, 

the Group Management Board plays a supervisory role and ensures the proper overall functioning of the 

Group.

|Breakdown of capital at 31/12/2011 

Treasury shares 4.67% 

Individual Shareholders 7.44% 

23.58% FÉDÉRACTIVE & ASSOCIATES 

Foreign Shareholders 18.04% 

20.04% VENELLE INVESTISSEMENT & ASSOCIATES 

French Investors 18.09% 

Employees 3.09% 

5.05% FFP Invest. 

|Breakdown of voting rights at 31/12/2011 

Individual Shareholders 6.35% 

Foreign Shareholders 12.77% 

31.89% FÉDÉRACTIVE & ASSOCIATES 

French Investors 13.81% 

Employees 3.96% 

FFP Invest. 3.54% 

27.68% VENELLE INVESTISSEMENT & ASSOCIATES 

NOTES FOR SHAREHOLDERS 

Share price performance 

Following 2 years of exceptional share price performance, 2011 was a more difficult year for the 

SEB share, which underperformed in relation to market indices almost throughout the entire year. 

In a gloomy, volatile and sensitive market, further undermined by worrying macro-economic data from 

summer onwards, the SEB share was subject to profit-taking. Over the financial year, the share price 

therefore dropped by 26%, compared with -19% for the CAC 40, -18% for the SBF 120 and -22% for the 

CAC Mid 60. Throughout the entire year, average volumes exchanged were more sustained than the 

previous year. This share activity led to significant developments in the composition of the capital of SEB SA 

in 2011. The share owned by individual shareholders increased by almost 2% over the year to 36,500 

shareholders compared with 22,100 in 2010 (+65%). 

|Share price performance 

100 

80 

60 

40 

20 

€ 

Number of shares 

1,200,000 

1,000,000 

800,000 

600,000 

400,000 

200,000 

0 

0 

01.2009 01.2010 01.2011 03.2012 

SEB 

CAC 40 adjusted 

Volumes 


Governance 09 

|Capital at 31/12/2011 

49,951,826 shares 

Stock market capitalisation at 30/12/2011 

€2,903 million 

Price on 30/12/2011 €58.120 

Average price for the year €67.191 

Average of the last 30 closing prices of 2011 €57.165 

Highest price for 2011 €82.150 

Lowest price for 2011 €52.000 

Return on investment for shareholders 

For many years, Groupe SEB has had a dividend policy with a long-term strategy that ensures 

its shareholders receive fair remuneration for the capital they entrust it with. This policy is aimed at 

reasonably increasing the dividend when its results allow and stabilising it when the economic and 

financial circumstances so require. 

For the 2011 financial year, the Group is therefore proposing a dividend payment of €1.25 per share, 

an increase of 6.8%. 

|Share fact sheet 

Stock market 

Euronext Paris Compartiment A 

Share code 

FR0000121709 

Date of introduction 

27 May 1975 

Stock market indices 

CAC Mid 60 

SBF 120 

CAC Mid & Small 

CAC All-Tradable 

CAC All-Share 

Other information 

IAS index 

Eligible for SRD 

Tickers 

Reuters: SEBF.PA 

Bloomberg: SK.FP 

|Gross return on an investment in SEB shares* 

Duration of investment 

Closing price 

Over 10 years 

€18.98 

Over 8 years 

€30.00 

Over 5 years 

€35.87 

Over 3 years 

€21.46 

Over 2 years 

€39.70 

Over 1 year 

€77.73 

Rate of return 

+14.43% 

+11.17% 

+12.61% 

+42.64% 

+23.16% 

-24.03% 

|Dividend increase 

(in euros) 

3.13 4.55 4.78 

Net income / 

share 

*Based on the last price of 2011: €58.12 and assuming re-investment of the dividend 

and the dividend supplement (based on holding registered shares for two years), and 

takes account of the free 1-for-10 share allocation in 2004, and capitalised interest. 

1.04 1.17 1.25 

2009 2010 2011 

Net dividend

Groupe SEB aims to increase its shareholder base and gain loyalty by maintaining an active policy 

of dialogue and information sharing. The relationship based on trust between Groupe SEB and its 

shareholders is established over the long term. It is nurtured on a daily basis by providing shareholders 

with clear and continuous information and regular contact. 

INVESTOR RELATIONS 

Individual support 

The Shareholders Department is a key point of contact for helping shareholders on a daily 

basis and fulfilling any requests for information concerning SEB shares. 

The Securities Department manages registered shares - dealing with orders to buy or sell, managing 

personal data, sending out invitations to Annual General Meetings, paying dividends etc. 

The Financial Communications Department is responsible for relations with financial analysts who 

carry out and publish reports and make recommendations on the SEB share. It is also responsible for 

relations with both French and foreign institutional investors. 

|Advantages for everyone 

Pur registered 

Administered 

registered 

Bearer 

shares 

shares 

shares 

Free management and custody of shares 

❚ 

10% loyalty premium for all shares held for more than 2 years 

❚ 

❚ 

Double voting rights for all shares held for more than 5 years 

❚ 

❚ 

Invitation to Annual General Meetings 

❚ 

❚ 

Secure website for the management of SEB shares 

❚ 

Information sent directly to the shareholder’s home 

❚ 

❚ 

❚ 

Home & Cook mail order catalogue with preferential prices 

❚ 

❚ 

Offer to purchase products at preferential rates 

❚ 

❚ 

Plus shareholder meetings throughout the year all over France... 


Governance 11 

New corporate and financial website 

A new colourful and modern design, new functions that are quick and easy to learn, intuitive 

navigation, more interactive features... this new website has been designed to better meet all requirements. 

From the home page, users can rapidly access a wealth of information - news, legal information, 

publications, share prices etc. The other main headings are: The Group, Strategy, Innovation, Values & 

Commitments, Finance, Careers, News & Media. The website also offers specific access for different kinds 

of users - in particular shareholders and investors. 

The website’s new features include: A full events calendar with the option of receiving a reminder three days 

in advance, a more comprehensive shareholder section, the SEB share price in real time, the Supor share 

price, subscription to our new webzine, direct access to social networks and YouTube, sharing tools 

(Facebook, LinkedIn, Twitter, RSS feed) etc. The interface is rich in content and dynamic, making it easier to 

keep up to date with what is happening in the Group. 

www.groupeseb.com 

THE LATEST 

SHAREHOLDERS' GUIDE 

IS AVAILABLE AS AN INTERACTIVE 

VERSION FROM 


Live share information 

The new Smartphone application, now available from the AppStore and Android Market, makes 

it possible to monitor the SEB share in real time from a mobile phone. 

This application also provides access to the Group's latest news and agenda with reminders of publication 

dates, press releases, annual and half-yearly reports, letters to shareholders etc. You can also subscribe 

to push notifications to receive news on selected topics. 

Financial analysts' trip to China 

a journey to the heart of Supor. 

Groupe SEB's Financial Communications Department, in close collaboration 

with Supor, organised a financial analysts' visit to China in 2011. Eight analysts, 

all of whom monitor the Group very closely, made the trip. The objective was 

to provide them with a deeper understanding of the characteristics and potential 

offered by the Chinese small domestic equipment market, as well as the 

industrial reality of Supor and its development opportunities.

MAJOR ECONOMIC TRENDS p. 14 

GROWTH Constant progress p. 16 

COMPETITIVENESS Making a difference p. 28

Strategy 13 

CONQUERING 

new horizons

GLOBAL MIDDLE CLASSES 

SET TO REACH 1 BILLION 

BY 2030 

The growing power of emerging economies 

The globalisation of trade during the 1990s revealed the power of new economies, which for 

countries like China and India relied on the size of their active population and low labour costs. 

Following 25 years of strong growth and aided by the rapid development of the middle classes and 

increasing revenue, China and India are becoming massive consumers, which will enable them to 

sustain their economic growth. Apart from these two giants, Brazil, which is already the world's 6th 

largest economy, and Russia, which has recently joined the WTO, are becoming an increasingly 

significant presence on the world stage. 

MAJOR ECONOMIC 

TRENDS 

Extract from "2033, Atlas des Futurs du Monde" by Virginie Raisson (Robert Laffont). 

DEMOGRAPHICS - AN INVITATION TO CHANGE 

"Whether we look at the ageing population in the north and west of our planet or the rapidly expanding 

population in the east and south, global developments in demographics are already providing us with a hint 

of what's to come in terms of the economic dynamics of the next twenty years. By forcing an increase in industrial 

production, these developments also mean that we must face the risk of the depletion of our natural, energy and 

mineral resources. In turn, an increase in population migrations and the urbanisation of the global population 

(30% in 1950, 60% in 2030) are recasting the geographical landscape and changing regional interdependencies and 

global balances of power. Faced with these developments and with an increasing number of ecological and economic 

crises, the future needs us to accept change and encourage innovation more than ever before." 

Virginie Raisson, Managing Director of Lépac and author of "2033, atlas des Futurs du Monde" (Laffont) 


Strategy 15 

Two-tiered consumer spending 

In Europe, buoyant consumer spending in the first half of the year dropped off by the end of 

the year, although there was a very marked difference between north and south. Across the Atlantic, 

meanwhile, in spite of a few peaks in consumer spending, there was no real recovery in the United 

States and the market lacks visibility. In South America, the situation was more favourable with good 

levels of demand in spite of a dip at the end of the year. In Asia-Pacific, the situation remained 

generally buoyant with a revival in the Japanese market, active growth in Korea and the boom continuing 

in China. 

IN FRANCE, THE AVERAGE NUMBER 

OF SMALL DOMESTIC APPLIANCES OWNED 

IS 13, WHILST IN CHINA IT IS ONLY 

AROUND 4. 

Major trends in distribution 

During the first half of 2011, retailers continued to benefit from the strong growth 

experienced in 2010 with the top 250 retailers in the world reporting business growth of 5.3% to the 

end of June*. The situation clearly and progressively reversed during the second half of the year. 2011 

was marked by more rapid growth for specialists and supermarket retail formats to the detriment of 

hypermarkets and globalisation and increasing power of leading retailers in emerging markets (Pao de 

Açucar in Brazil in 45th place, the Chinese retailer Bailian in 66th place and the Russian X5 Retail Group 

in 83rd place at the end of June 2011). Globalisation led to continued sector concentration as well as 

to increased competition between the various players, whilst at the same time contributing towards 

the more promotional nature of markets. E-commerce also gained ground during this period. 

*Deloitte ranking 

THE GROWTH OF 

MALLS IN INDIA - 

JUST ONE IN 1999, 

180 IN 2011 AND 

480 UNDER 

CONSTRUCTION 

Developments in currencies and raw materials 

In 2011, the wide currency fluctuation of recent years continued, alternating between 

depreciation, sometimes falling behind, and appreciation. This very disruptive factor, to which the Group 

is exposed when trading on global markets, has necessitated maintaining a very flexible pricing strategy 

to adapt to fluctuations in various markets. 

As for raw materials, the upward trend in metal prices (aluminium, nickel, copper) seen over the past 

2 years continued until September but eased off at the end of the year. This increased our production 

costs for 2011. This tendency towards increasing prices is mainly due to global demand, boosted 

by emerging markets and China in particular, and to the limit in production capacities since the crisis 

of 2008-2009. The price of plastic materials, which is closely linked to the price of oil, continues to rise 

significantly.

Strategy 17 

Growth 

Growth is one of the key principles of our long-term strategy. It is vital for guaranteeing 

Group deployment and durability. Our growth relies on our unique portfolio of complementary 

brands, which develop a very diverse and multiple offer covering various market segments from entry 

level to premium products. Whether they have international or more regional coverage, our brands 

are a vital catalyst for our international growth. 

CONSTANT PROGRESS 

When it is organic, growth is fuelled by innovation, which must make our products stand out as well 

as add value. The Group has always pursued a very proactive policy in this area, paying attention 

to major socio-cultural trends and always staying one step ahead in our responses to these trends. This 

has allowed us to develop recognised expertise over the years. Opening up to new external skills 

creates additional momentum and paves the way for the future. Our relations with our retail clients 

are another crucial factor for growth. Maintaining long-term relations in the form of partnerships 

allows us to gain deeper market understanding and react to any developments. 

At the same time, the Group has long had recourse to external growth to accelerate its international 

deployment and perfect its continental coverage. Successive acquisitions have been carried out for 

their capacity either to strengthen the Group's offer in certain operations or to take up top-ranking 

positions in new and buoyant markets. 

A UNIQUE BRAND ARCHTECTURE p. 18 

THE DYNAMICS OF ADDED VALUE p. 20 

MULTI-CHANNEL DISTRIBUTION p. 24 

THE WORLD AROUND US p. 26

All-Clad, Lagostina et Krups, positioned in the top quartiles of the market 

Our extensive brand portfolio represents a real asset for the Group. Our multi-brand strategy is a key 

part of our market policy. Each of our 24 brands plays a defined role in developing our product offer. 

A UNIQUE BRAND 

ARCHITECTURE 

Six international brands 

These brands ensure both global and local presence. They are above all a means of 

differentiating products through a distinct identity and set of values. Their complementary nature allows 

them to control market positioning, guide product development and design and personalise 

communication. They are an ideal tool for adding value to our offer and responding to consumers’ 

multiple expectations and requirements. Apart from the values that make up their individual identity, 

the brands also champion the Group's commitment to eco-responsibility. They are very reassuring in 

markets where the offer can sometimes be commonplace. 

Local reference brands 

The influencing power of these brands, though more geographically limited, is equally strong. 

They have generally been established locally for a long time. Well-known and with a strong image, they 

are widely associated with one or more product domains representative of their expertise. With a local 

reference, most of them are market leaders or leaders in their sector. These 18 brands are present across 

markets in different continents. Our latest acquisitions include brands from new economies: Imusa in 

Colombia (as well as Umco, an entry-level brand), specialist in cookware and recently also in kitchen 

electrics; AsiaVina, well known in Vietnam for its fans and Maharaja Whiteline, which is popular in India 

for its small electrical appliances. 

France / Belgium: 

Calor, Seb 

North America: 

AirBake, Mirro, Regal, T-fal, 

WearEver 

South America: 

Arno, Clock, Imusa, Panex, 

Penedo, Rochedo, Samurai, 

T-fal, Umco 

Asia / India: 

Asia Vina, Supor, T-fal, 

Maharaja Whiteline 


Growth 

Strategy 19 

Rowenta, Tefal and Moulinex, generalist brands 

Multi-faceted communications 

In line with developments in communications, our strategy covers the main media, events and 

digital communications. We also implement some very specific campaigns at the point of sale. The Group 

uses its brand platforms to ensure the message we convey is coherent throughout the world. With the aim 

of optimising budgets, the Group develops press or television campaigns customised for each market and 

refines its marketing strategy with adapted brand positioning. This is how in 2011 we repositioned all 

of our brands in the Colombian market around the arrival of Imusa and we developed a similar approach 

in Brazil for cookware. 

TEFAL, AN ENVIRONMENTALLY-FRIENDLY ATTITUDE 

"The life cycle analysis (LCA) we have just carried out on the Tefal frying pan is 

a first amongst cookware manufacturers. Carried out by a team of external scientists 

over a period of 18 months, this analysis quantifies environmental impact at all stages 

of the frying pan's life cycle. This LCA will help us to target our work on reducing the 

ecological footprint of our products. It reveals in particular that the main environmental 

impact concerns the use of the frying pan, with the repetition of cooking/washing cycles. 

This backs up our research on controlling cooking temperature as well as on the performance 

of non-stick coatings, which save having to use fat and are easy to clean." 

Bénédicte Simond, Research Manager Cookware

Innovation is a central element of our growth strategy. We need it to differentiate ourselves and 

to ensure that our products are as upmarket as possible. By detecting trends, innovation is responsible 

for inventing tomorrow’s products. It enriches our categories with the creation of new concepts, 

solutions and services to make our everyday lives easier and more pleasant. 

THE DYNAMICS 

OF ADDED VALUE 

A multi-specialist offer 

The Group's uniqueness comes from the wide scope of its product offer, which covers all areas 

of the household from non-electrical products to small electrical appliances: cookware (frying pans, 

saucepans, casseroles, pressure cookers, accessories etc.), kitchen electrics (food and drink preparation, 

cooking) and personal and home care (laundry and floors, comfort). This very wide spectrum also covers 

various market segments from entry level to premium products. Another of our special features is our 

ability to address local markets by adapting our ranges to consumer habits. This approach is a 

determining factor of our presence in international markets. It is by placing innovation at the heart of our 

business and by developing expertise in various areas that the Group has become the global leader in 

small domestic equipment. 

A wide field of investigation 

Our approach consists of developing core technologies for use in Strategic Business Areas across 

the entire Group. This is the role of our 3 innovation centres - Intelligent systems, Energy, Materials - each 

of which has its own leading-edge expertise. The resources we devote to innovation are constantly 

increasing, regardless of the economic situation, because they play a vital role in determining the Group's 

future. That's why in 2011, R&D teams consisted of more than 900 people working with an overall 

budget of €74 million, which has been increasing steadily for the past 3 years. Drawing on these 

resources, the Group has set out 4 major areas of investigation - preserving health/beauty/well-being; the 


Growth 

Strategy 21 

ageing population; ecology and sustainable development and smart 

systems, connected products. Our product applications are proof of the 

progress we have made in these areas - silence thanks to our expertise in 

acoustics, healthy cooking through advancements in steam cooking and 

frying pan coatings, eco-design through the use of recycled materials and 

low energy consumption. 

250 NEW PRODUCTS 

AND MODELS/YEAR 

An innovative community 

Innovation is born of the convergence of talents of all those involved in marketing, research 

and design. These three departments, which are all involved in product design, are responsible for the 

proliferation of ideas and the study of their feasibility. The key word when it comes to stimulating this 

innovative community is exchange - be it regarding sharing experiences or best practices. This exchange 

should be encouraged at every stage of development. The "Innovation Forum" is the highlight of the year for 

this process. It is a 3-day event bringing together 250 Group "inventors" and contributors to strategic topics 

during workshops, conferences and exhibitions. Collaborative systems then take up the reins. 

ROWENTA'S ECO INTELLIGENCE RANGE EXPANDS TO COVER LINEN CARE 

The Eco Intelligence range from Rowenta is the standard bearer for the brand in terms of ecology and sustainable 

development. Its products are particularly energy-efficient, whilst maintaining the same performance. Following on from 

the success of the first Eco Intelligence vacuum cleaners in 2010, Rowenta extended the concept in 2011 to include 

an iron and a steam station. Both guarantee 30% reduction in energy consumption whilst maintaining 100% ironing 

performance. Their new 3D soleplate with 400 microholes concentrates the steam onto the fabric and avoids wastage. 

The steam pressure is also optimised for each kind of fabric in the case of the steam station or via an "Eco" mode for the 

iron. The Eco Intelligence range is currently being expanded to cover other product families.

FUNCTIONAL DESIGN 

"Our collaborative work on the design of the Silence Force Extreme 

range for Rowenta falls into two dimensions - ensuring that buyers 

recognise the benefits of the product and adding value to the brand in 

accordance with its values and other product categories. On the one hand, we worked 

on material to ensure both low noise level (honeycomb texture creating a sound 

trap) and robustness (metal front shield and pedals). On the other hand, we 

worked on ergonomics to promote easier use (handle and accessories studies to 

ensure straight back posture, selection of power possible by foot etc.). Throughout 

the process, we ensured that the Rowenta style was maintained with harmonious, 

elegant and pure lines." 

Fabrice Renault, Design Workshop Manager, Home and Personal Care 

An open mind 

In addition to internal expertise and Group relations with inventors, the Group has also opened up 

its innovation to a structured network of external partnerships with laboratories, competitive clusters, 

universities, research centres etc. In order to accelerate this process, the Group has also turned to start-ups with 

a strong technological content. We began this approach in May 2011 by setting up the SEB Alliance investment 

fund, with an initial capital of €30 million. SEB Alliance made its first investment in the field of digital 

technology and associated products, acquiring a majority stake in Key Ingredient, an American start-up based 

in Austin (Texas) and specialising in the development of digital solutions for the kitchen. 

2011 DISTINCTION: 

GOLD MEDAL FOR THE BEST INTELLECTUAL 

PROPERTY 


Growth 

Strategy 23 

Protection is key 

One sign of the Group's power of innovation is the filing of 120 patents in 2011, compared with 

110 in 2010, and 250 Soleau preliminary patent registrations (173 last year). Intellectual Property 

protects innovative concepts at the earliest possible stage of the process and it should be adapted to 

allow for the increasing integration of digital technology in our products. Its role is also to defend our 

innovation by pursuing those who try to forge our products, in particular our flagship products such as 

Actifry and Fresh Express. 

18 TH LARGEST FILER 

OF PATENTS 

IN FRANCE 

Innovative products, a catalyst for growth 

The worldwide success of our star products, which are recording strong growth rates and taking our 

product offer upmarket, is undeniable. These products stand out either due to original concepts such as ease 

of use and direct serve offered by Fresh Express, or because they are mould-breaking 

innovations such as Actifry, synonymous with practically fat-free frying, or indeed 

because they represent significant progress to the consumer - the silence/suction 

power combination of Silence Force Extreme, the unique product features of the 

Pro Express Anti-Scale steam generator (limescale collector, rapid heating in 2 min 

and self-cleaning soleplate). This power of innovation enables the Group to constantly 

revitalise its product offer - 60% of our sales are from products that have been 

available for less than 3 years. 

"SILVER DECIBEL" 

IN THE "PRODUCTS AND NEW 

TECHNOLOGIES" CATEGORY 

FOR THE ROWENTA SILENCE 

FORCE EXTREME VACUUM 

CLEANER.

For us to stay in tune with markets and serve them in the best possible way, we must ensure we have 

optimal coverage of multiple distribution networks and develop lasting and quality relations with our 

customers. 

MULTI-CHANNEL 

DISTRIBUTION 

3 HOME&COOK E-COMMERCE SITES 

ALREADY IN OPERATION IN THE UNITED KINGDOM, 

KOREA AND AUSTRIA AND COMING SOON TO BRAZIL. 

A multi-specialist offer 

The reality of distribution changes enormously from one market to the next. There is a huge 

discrepancy between mature markets, where distribution is highly structured, some emerging markets 

such as Brazil and China where it is already partially organised and others where it is still very atomised. 

Our commercial approach is adapted to suit the various situations, with a multi-channel approach in the 

more advanced markets and the development of our retail stores, for example, where the distribution 

network is less well organised. We ensure widespread coverage of networks by relying on the 

complementary nature of our brands and the extent of our product offer - from hypermarkets to 

specialist retailers and selective retailing reserved for the Group's premium brands such as Krups and 

All-Clad. We have also seized the opportunity provided by the boom in internet shopping, either through 

specialist e-commerce companies or by setting up our own retail sites. 


Strategy 25 

Growth 

The importance of customer relations 

The Group likes to develop long-term relations with its retail clients and capitalise on these 

relations in order to establish firm partnerships and generate growth for both parties. The Group has 

plenty of advantages on its side, including the extent of its product offer, innovation and the strong image 

of our brands. Service quality is also a very important consideration these days. In this respect, we must 

remain focussed on our customers' expectations in terms of inventory management, development of 

specific ranges, shelf merchandising etc. This approach requires increased flexibility and reactivity on our 

part, which are the necessary conditions to enable us to sustain lasting operations in our markets. 

Support at the point of sale 

At the point of sale, the consumer needs guidance when choosing products. In order to appeal 

to consumers, we merchandise our product ranges, organise demonstrations and present explanatory videos. 

Our primary concern is to make the range clear and easy to understand so that consumers can make a 

better choice. The new shelf layout for pressure cookers in hypermarkets is proof of the research we have 

carried out in this respect - multi-purpose display areas divided according to use; explanatory labelling; 

comparisons between models. All of our work in this area has a single objective - to achieve better sales. 

Our own retail stores, an additional advantage 

The Group has a network of exclusive stores, which is growing every year. Their role complements 

that of traditional retailers, both in terms of geographical presence and coverage of the various market 

quartiles. At the end of 2011, our own retail stores accounted for 1,445 points of sale spread across 

49 countries under the banners of Home & Cook, Tefal Shops (specifically in Turkey) and Supor Life Stores 

in China. They increased significantly in number last year (291 new stores in 2011) with reinforcements in 

particular in 3 new countries - Colombia with the arrival of Imusa, Vietnam with Asia Fan and Uruguay. 

DEVELOPMENT OF A PARTNERSHIP WITH THE CASINO GROUP 

"Like Groupe SEB, the Casino Group has set its sights on international expansion, which is 

the source of our growth. As in France, we have forged solid positions in South America and 

South-East Asia. We also have a deep-rooted intention to deploy a multi-channel strategy, which we 

adapt according to the maturity of each market. Our strategic visions are very close to those of Groupe 

SEB, such as conquering emerging markets and developing new distribution channels such as e-business. 

Our partnership with Groupe SEB is built to last, with the identification of priorities and the sharing of 

opportunities based on mutual trust and a high level of responsiveness. Growth for both parties will come 

from the right choice of product categories, launched at the right time and in the most suitable way." 

Lylian Vignau, Managing Director of IRTS (the international structure of the Casino Group).

Like innovation, international expansion is a vitally important vector for growth. Uniting a global vision 

and a local approach, the Group is extending its presence and consolidating its position by developing 

a commercial strategy adapted to the unique nature of each market. 

THE WORLD 

AROUND US 

Balancing operations 

During the 1990s when we became aware of the growth potential offered by emerging markets, 

the Group took an offensive position in these markets, whilst continuing mature market penetration. 

This led to a more or less equal balance in global sales by 2011, which is a real advantage when it comes 

to benefiting from all opportunities for growth and diversifying risks. To achieve this, we have combined two 

different approaches. The first is to pursue organic growth by developing the presence of our own 

structures (subsidiaries, sales offices etc.). Secondly, we are pursuing external growth through acquiring 

local businesses, which are standard bearers in their field, and therefore gaining rapid access to the market 

and enriching our product offer. In this way, the Group has forged itself a leading position worldwide and 

holds top-ranking positions in many markets such as Brazil, Colombia and more recently China. 

|Sales in mature/emerging 

markets 

2011 - €3,963 million 

Emerging 

45% 

+14% 

Mature 

55% 

+2% 

Increasingly stable positioning 

With our long-term presence in mature markets, we are continuously aiming to improve our 

competitive position in these countries. Our market shares remaining very mixed from one country to 

another, we are exploiting this potential by strengthening our presence through the expansion of our offer 

and new supplier listings. In these markets with widespread existing use of equipment, the key to growth 

is the constant renewal of ranges with products that reflect the evolution of consumer behaviour. 

Mould-breaking innovation actually creates new categories (practically fat-free fryer, cordless upright 

vacuum cleaner) for the Group and thereby contributes to the growth of small domestic equipment 


Strategy 27 

Growth 

markets and, consequently, the growth of our business. Our innovative approach allows the Group 

to defend - as well as gain - significant market share, making it the key player in its field. 

Conquering emerging economies 

For their part, emerging markets represent a formidable potential for growth. This is due to: 

- A low level of existing equipment; 

- The rapid expansion of the middle classes with increased purchasing power; 

- Increasing urbanisation, which changes lifestyles. 

As far as Groupe SEB is concerned, these all represent new opportunities for enriching our product ranges 

with specific products for local preparations such as soy milk makers and rice cookers and with additional 

functions (anti-mosquito fans, blenders fitted with an accessory for exotic fruits etc.). At the same time as 

strengthening our presence in South America with the recent acquisition of Imusa in Colombia, we have 

also set our sights on Asia. Since the beginning of 2011, the Group has acquired a majority stake in Asia Fan 

(Vietnamese leader in the fan market) and at the end of the year increased its share in the capital of Supor. 

At the end of 2011 came the acquisition of a 55% share in the capital of Maharaja Whiteline in India, a key 

player in the small electrical appliances sector, which has enabled us to establish a foothold in this new and 

flourishing economy. 

SERVING GROWTH 

"Over the past few years, we have developed mutual understanding and a level of trust that allows 

Coface to cover Groupe SEB all over the world, making it easier for the Group to conquer new customers 

and new markets. Imusa, for example, was covered by a Coface policy right from the first year 

of acquisition. This systematic coverage policy directly insures almost 90% of Groupe SEB's turnover. Information held 

by Coface about companies and in particular concerning their payment history aid optimal client selection . 

A true partnership has been forged with regular contact between the two groups, enabling us to gain better 

understanding of the issues at stake, exchange information, anticipate any problems, determine actual requirements 

(due to the seasonality of sales for example) more effectively and also to meet certain debtors together." 

Hugues Bourgain, Director of Arbitration at Coface

Strategy 29 

Competitiveness 

Going beyond product innovation, maintaining a competitive stance enables us to stay ahead of 

the competition through a solid manufacturing base, relevant global organisation and cost control. 

With the acquisitions of Imusa in Colombia, Asia Fan in Vietnam and more recently Maharaja 

Whiteline in India, the industrial landscape of the Group has changed. It has been strengthened on 

a global scale and is based on a group of factories that complement one another in their business 

operations and are close to their markets, enabling us to provide a better service for our customers 

and consumers all over the world. 

MAKING A DIFFERENCE 

The competitive nature of our sites extends beyond our production capacity. It covers the entire 

product life cycle, from the purchase of raw materials and components to managing the after-sales 

service, and includes logistical and IT constraints. It is a Group-wide, international vision in which 

dialogue and the exchange of good practices are vital to continue improving our industrial 

performance. 

Our internal skills form the cornerstone of this architecture and it is by making the best use of our 

employees' expertise, their experience and their approach to their daily work, that we will be able 

to guarantee the sustainable growth of our sites and confirm our place as global leader in the small 

domestic equipment market. 

ENCOURAGING INDUSTRIAL FLEXIBILITY p. 30 

GUARANTEEING THE BEST SERVICE FOR OUR CLIENTS p. 32 

ACCOMPANYING CHANGE p. 34

In a highly competitive environment, Groupe SEB cuts an atypical industrial figure. With more than 70% 

of its products still manufactured in its own factories, the Group defies market laws, in which 

sub-contracting has become the general rule. This winning strategy enables the Group to maintain, 

or even reinforce, its lead over its competitors, whilst ensuring that it remains competitive. 

ENCOURAGING INDUSTRIAL 

FLEXIBILITY 

An industrial balance 

Still widely established in France, the Group has been able to find the right balance between its 

various production sites to fulfil economic requirements, as well as organisational and human constraints. 

To that end, it relies on a very well defined industrial policy. 

In mature markets, where labour costs are high, the Group responds with innovation. In Europe and the 

United States, the Group has set up centres of expertise in which specific skills add value to the product 

offer and provide a technological barrier against competitors, which is vital for keeping our sites going in 

the long-term. In addition, for major products with a high level of process automation, the Group relies 

on economies of scale, enabling it to maintain or increase its competitiveness. 

At the same time, the Group has several production sites in South America and in Asia, which provide a 

response to an economic and geographic reality. These factories are traditionally multi-product and benefit 

from being ideally situated to serve neighbouring markets in the best possible way. These production sites 

also provide the Group with competitive leverage for products with lower added value - but for which we 

want to maintain internal control - and with local skills for certain products with specific technologies. 

Finally, wherever it deems necessary, the Group calls upon product sub-contractors in a targeted way. 

This is particularly the case for basic products with a low technological content or to accelerate our growth 

in markets that are not very open to imports. 


Strategy 31 


Rapid development 

Over the past few years, the industrial profile of the Group has changed enormously. 

At the end of 2011, the Group had 29 factories, including: 

- 2 Imusa factories in Colombia since March; 

- 2 factories in Vietnam since the acquisition of Asia Fan in May; 

- 1 site in Northern India, from the acquisition of Maharaja Whiteline at the end of December. 

This international progress represents a tremendous opportunity for development for the Group. 

Within this context, the Group ensures the coordination of international expertise by encouraging 

contact between teams and the passing on of knowledge and skills. 

Sharing experiences 

At the same time, the Group depends on new methods of industrial management. The OPS 

(Operation Performance SEB) program has been set up to increase current and future production site 

competitiveness through permanent improvement of industrial performance... by aiming for excellence. 

This is a program with a very wide spectrum, which relies on the commitment of employees throughout 

the entire production cycle. Everyone is required to identify problems, suggest improvements, get 

involved in implementing solutions and pass on good practices to the rest of the Group. 

SHARING AND CAPITALISING ON EXPERIENCES WORLDWIDE 

TO INCREASE COMPETITIVENESS 

"The 12 production sites for the cookware business unit (9 of which are outside France) all 

have something in common - high-tech manufacturing procedures in very diverse areas such 

as metal working, surface preparation, the application of coatings and assembly and finishing 

operations. 

The Rumilly site with its 45 million products per year and its highly automated processes is a recognised 

centre of expertise for non-stick frying pans and saucepans. 

This recognised expertise can naturally be exported to other international sites in the business unit as part 

of our continuous development of new synergies and reinforcement of our expertise, allowing us to improve 

our power of innovation and industrial competitiveness all the time.” 

François Muller, Director of Industrial Operations, Cookware

Better sales forecasting to ensure greater reactivity 

In light of the uncertain economic context in 2011, the Group had to adapt and adjust its 

production and stocks to the realities of a progressive slowdown in demand and the requirements of 

retailers looking to reduce their stock levels significantly. 

The Group was able to respond well to these changes thanks to its strong and dynamic organisation. 

This is based on increased collaboration between our marketing teams, various marketing managers in 

charge of sales forecasting, production facilities and the logistics teams in charge of stock management. 

This collaborative planning between various specialists has enabled the Group to gain a better understanding 

of the complexity of flows and fluctuating markets. 

An efficient partnership with Chinese suppliers 

Upstream of the production process, logistics teams ensure the supply of spare parts and components, 

many of which come from China. In order to increase the reliability of deliveries, the Group wanted to support 

its suppliers by setting up innovative communications systems to ensure better anticipation of requirements and 

optimum order tracking. The objective is to improve service levels. 

Our logistics teams have to be able to face up to the challenge of supporting the Group's rapid 

international growth and absorbing its increasing power, whilst guaranteeing an optimum level 

of service for our retail clients. 

GUARANTEEING THE BEST 

SERVICE FOR OUR CLIENTS 


Strategy 33 


Permanent adaptation of the logistics chain 

The volatile global economy is prompting the Group to question itself constantly. It is essential 

that we analyse and understand the behaviour of our retail clients in order to provide the best response 

to their requirements in terms of stocks, whether they have their own centralised logistics platforms or 

expect a personalised service. To achieve this, the Group needs to demonstrate flexibility and select the best 

configuration for its warehouses. The pooling of stocks, in Northern Europe for example, is one of our 

major schemes for optimising the logistics chain. 

SETTING UP THE EXPORT 

LOGISTICS DEPARTMENT 

In order to reinforce the expertise 

of our employees and the 

specialisation of our structures, 

the Group has set up an Export 

Logistics department to manage 

flows both for export and within 

the Group. This department 

provides an interface between 

the French factories and the 

markets and aims to make its 

cross-disciplinary skills available in 

other areas as well - management 

of flows of goods and information, 

customs procedures and transport 

Intelligent packaging 

For 2 years now, the Group has been considering how to optimise its product packaging to 

make it better adapted to its use both during transport and during storage on retailers' shelves. Since 

2010, our "EFFYPACK" approach has enabled us to identify the various issues linked with packaging at 

different stages of product creation, marketing and despatch. This collaborative work has made way for 

the first solutions to be put in place in 2011 to optimise pallet loads and thereby improve competitiveness... 

whilst at the same time reducing our impact on the environment 

THE EFFYPACK APPROACH 

HAS ENABLED US TO GAIN 

UP TO 14% LOAD RATE 

QUALITY AT THE HEART OF THE PRODUCT CYCLE 

Ensuring optimal product quality is one of the Group's main priorities. As well as ensuring consumer 

satisfaction, quality represents a leverage for gaining competitive advantage, both during production 

and after-sales service management.

The Group has acquired a new dimension on the international stage over recent years through internal 

and external growth, as well as through its strong innovation strategy. Our rapid growth is testament 

to the involvement and responsiveness of our operational teams. 

ACCOMPANYING 

CHANGE 

Supporting Group expansion 

Over time, the Group has acquired solid experience in the integration and consolidation 

of acquired companies. This experience is based on the development of common practices and tools, 

which are essential for planning and supervising the Group's worldwide operations - production, sales, 

distribution, planning, purchasing, accounting, monitoring and reporting. Within this framework, 

the takeover of Imusa and its association with Group processes took place in an exemplary manner. 

In this context, the Group has also finalised a project for deploying the SAP system for the management 

of All-Clad in the United States. We also support our employees by bringing together skills in order to 

encourage synergies. One important example is the 2011 transfer of the entire accounting team in the 

United Kingdom to the Group's Shared Services Centre for accounting, which continues expanding and 

now spans 5 countries. 

Encouraging collaborative work 

To respond to the increasingly international profile of our employees, the Group aims to 

encourage dialogue and exchange within functions as well as between the Group's various sectors. We have 

managed to set up a real collaborative force, in particular thanks to the deployment of dedicated web 

platforms. In this way, the Group is demonstrating its desire to make knowledge, skills, solutions and 

expertise available to employees all around the world, so that everyone can rely on common references 

and benefit from local experiences. Sharing best practices is in all respects a key factor for success and 

increasing competitiveness. 


Strategy 35 


Supporting product innovation 

In addition to supporting the various Group functions all over the world, our IT teams are 

working closely with Research and Development on a major topic for the Group - smart systems and 

connected products. Many projects are being set up to encourage users of our products to move towards 

new consumer experiences through, for example, interactive websites, exclusive e-commerce platforms, 

dedicated smartphone applications.... and interconnected products. 

Rationalising purchases 

The Group's efficiency is also thanks to our rigorous purchasing management system, which 

covers both strict cost control and the guarantee of optimum quality for purchased products and services. 

The Purchasing department in the Group is composed of 3 centres of expertise: 

• Production purchasing - raw materials and components (parts, sub-assemblies etc.) for industry. 

• Non-production purchasing - transport and logistics, services, IT systems, travels etc. 

• Purchasing sourced finished goods. Creating a Finished Goods Purchasing department has enabled 

us to strengthen our quality procedures and integrate suppliers upstream in product development 

processes. 

At the same time, the Group ensures strict supplier selection to foster a genuine partnership and enable 

us to make gains in reliability, responsiveness and quality. This selection panel has enabled the Group to 

rely on a stable and durable supplier base. 

SUCCESS FOR IDEAS BOXES AT SUPOR 

In order to get workers more involved in the continuous improvement 

of production efficiency and working conditions, all Supor sites have taken 

on the principle of ideas boxes. Workers post their suggestions in the boxes 

and these are then studied each week by an Improvement Committee. 

In 2011, out of a total of more than 12,000 ideas collected, around 

6,000 were approved and almost 4,000 actually implemented. The changes 

brought about represented an investment of approximately RMB15 million 

(€1.8 million) and generated more than RMB32 million (€3.9 million) in 

savings, not counting the positive effects in terms of ergonomics, safety 

and employee motivation. Each quarter, a ceremony is held to reward the 

workers responsible for the improvements made.

Operations 37 

EMBRACING 

the world

MAJOR SOCIAL AND 

CULTURAL TRENDS 

Less time spent on domestic tasks 

We are spending less time in the kitchen (10 minutes less than in 1999) and less time doing 

housework (8 minutes less per day on average). In an effort to save time, consumers are choosing household 

equipment that is simple, ready to hand and easy to use and keep clean. In response to these social 

trends, we have come up with an array of successful products - the Fresh Express grater, the Soup & Co 

heating blender, the Air Force vacuum cleaner and steam systems, which optimise the time it takes to iron. 

In addition to new products, we have extended our range to cover a wide selection of new digital services 

and solutions, providing consumers with access to digital recipes and ingredients via the internet. 

Better consumer behaviour 

Consumer behaviour is changing all the time and is following various trends. Ethical 

criteria, for example, are becoming increasingly significant. These may concern social solidarity 

towards "made in France" products following the major financial and economic crises or 

awareness of the environmental impact of products (quality and capacity to be repaired 

or recycled, service life, energy consumption, use of resources etc.). Consumers are still 

just as interested in nutrition and all the solutions available for eating healthy and tasty 

food such as steam cooking, low-fat frying, home-made yoghurt and dairy desserts. 

246 MILLION PEOPLE WORLDWIDE SUFFER FROM 

DIABETES (30 MILLION IN 1985) 


Trends 

Operations 39 

MORE THAN 1 BILLION PEOPLE 

USE SOCIAL NETWORKS 

The social media cultural revolution 

Social networks provide a new means of expression for brands, which need to define a valid 

digital marketing strategy to deal with social network users, who expect intervention but are always more 

active and reactive. Recommending the brands they like and spending an average of 20 to 40% more on 

products they support, they have the power to advocate or discourage the purchase of a product or brand. 

This is where the idea of responsible consumers comes into play. These burgeoning communities are 

giving way to a sharing of experiences and a great deal of freedom of expression for consumers. It has 

therefore become vital not to ignore these communities, to respond to their requirements in terms 

of promotional campaigns and new ideas, to boost our sales in our network of retail outlets and 

to contribute towards the growth of e-commerce. 

The "slow" movement and home made 

A section of the population is expressing a desire to resist the trend for everything that is fast 

and instant, which are features of advanced economies. These people want to slow down, take a step back 

and take time to improve their quality of life and rediscover their well-being. This often also implies a 

return to safe values. One example of this is the "slow food" movement, which has come about as a 

reaction to "fast food". Then there is the home made movement, which is making a big impact in the small 

domestic equipment market with consumers attracted to the Multi-Delices yoghurt maker, the Soup & Co 

heating blender for home-made soups and Masterchef food preparation appliances and other 

breadmakers. 

Luxury and emerging markets 

With the rise of the rich and middle classes in China, India and Brazil, the luxury sector is also 

experiencing rapid growth in emerging countries. The success of premium brands with this new category 

of consumers can be put down to the high level of quality, of course, but also to social aspirations. 

This goes hand in hand with the demand for an excellent level of service and communications respecting 

local cultural practices. The gradual deployment of Lagostina shops in China is part of this trend toward 

excellence and luxury. 

ALMOST 70 MILLION TABLETS 

SOLD IN 2011

Europe 

A brand is reborn 

The reintroduction of Moulinex in 9 European 

countries, following a restriction on using the brand 

name imposed by the European Commission in 

2002, has exceeded our expectations with sales of 

€35 million. The brand achieved particularly spectacular 

performance in the Netherlands, Germany, 

Portugal and Belgium, thanks to a very attractive 

food preparation range called Rouge Rubis. Fresh 

Express, the flagship product in this range, took 

a significant market share with almost 300,000 

products sold. Other products such as the Moulinette 

and the Masterchef food processor also made 

a significant contribution to the brand's success. 

FRESH EXPRESS WITH MORE THAN 

2 MILLION ITEMS MANUFACTURED 

IN FRANCE AND SOLD IN 50 COUNTRIES

Operations 41 

France 

Everyone's talking about La Fournée 

A unique concept, an unusual advertising campaign for a major 

technical innovation and a unique taste sensation. Made in France, this 

breadmaker has a great many product benefits - fold-away blade, 

optimum heat diffusion for a golden, crusty and tasty loaf with bakery 

products sold on the internet. The launch campaign features a wealth 

of original ideas. With the support of Frédéric Lalos, MOF* in bakery, 

there were several workshops for journalists and bloggers, which were 

widely featured in the press, on Twitter and on Facebook (17,000 fans). 

The street marketing campaign in a shopping centre near Paris also 

caused a sensation - giant stickers on a lift shaft showing La Fournée 

and the lift itself transformed 

into bread plus circulation of the 

smell of freshly baked bread. 

*Meilleur Ouvrier de France 

(best artisan in France) 

Great Britain 

Winning back the entry-level sector 

Having recovered its healthy growth rate for added value products, the Group wanted to win back the British market for 

entry-level cookware through a dual action plan. On the one hand, the subsidiary succeeded in getting its main clients to 

feature special offers for Chinese Supor products to target the low price sector. On the other hand, we deployed promotional 

"Made in France" ranges with PTFE interior/exterior coating and Thermo Spot. This strategy enabled us to increase our 

sales in this sector by 24%. 

Germany 

Barista, a gem of technology 

A true feat of technology, the Krups Barista espresso and cappuccino machine 

is scoring high in Germany - with a remarkable rating of 90% from specialist 

coffee magazine, Coffee Magazin, and from the ETM TESTmagazin consumer 

publication. It owes its performance to the precision of its functions - in particular, 

the 8 programs for personalising preparations, the self-cleaning steam 

nozzle and 3 grinding settings. 

AVERAGE COFFEE CONSUMPTION OF 

4.8 KG/PERSON IN THE EUROPEAN UNION

1 MILLION PEOPLE TOOK PART IN THE 

SILENCE FORCE EXTREME GAME 

France 

Silence is the latest buzz word 

Rowenta is making a lot of noise about its Silence Force Extreme, the most silent 

powerful vacuum cleaner ever designed. As well as a TV campaign, the brand 

is demonstrating the silence of the product on the internet with a fun and 

interactive game. Web users are invited to take part in a game to find the sound 

level of the vacuum cleaner by making a sound through the microphone in their 

computer, which is then measured using a decibel meter. If the sound level is the 

same, they can win the vacuum cleaner and if not, they are shown some surprising 

footage of the noise levels. 

Europe 

Technological progress to serve 

consumers 

The new generation of Tefal mid-range cookware 

introduces 6 different ranges, 3 of which are specially 

developed for induction hobs. These bring new 

advantages in terms of durable coatings, resistant bases 

and a brand new modern look. This progress involved 

developments in industrial processes, including the hot 

stamping of thick bases and the hologram effect (PTFE 

charged with magnetic particles), which is a special 

feature of the new products. The new range was 

responsible for boosting sales in European countries. 

Portugal 

Breakthrough in Personal care 

In a depressed market, Rowenta has achieved considerable 

success with its epilators. With a very well-constructed 

range of products targeting core and high-end segments, 

the brand became market leader in Portugal over 3-4 years 

and strengthened its positions considerably in 2011 (+10 

market share percentage points in volume and up 12 points 

in value). The 360° communications strategy turned out to 

be very assertive through a combination of PR campaigns 

aimed at women's magazines, internet advertising, POS 

operations (presentation displays, totems etc.) and 

promotional campaigns (90 day test period for example) 

as well as TV ads. 


Operations 43 

France 

A dynamic coffee partnership 

The pod coffee machine sector under the Krups brand relies on partnerships with 

Nespresso and Nescafé for Dolce Gusto products. It continued its strong and 

sustained growth in the French market in 2011 exceeding 30% growth rate. 

This performance can be attributed to a product strategy that is constantly renewed, 

with 2 star models last year - Dolce Gusto Piccolo and Nespresso Pixie, which are 

popular with all types of consumer thanks to their compact and very modern design. 

For Dolce Gusto, the segmentation of distribution with special models for large 

distribution outlets and others reserved for specialist retailers, was an additional 

growth leverage. 

POD COFFEE PARTNERSHIP: 

+ €100 MILLION IN 3 YEARS 

Europe 

Tefal / Unicef, the key to success 

€500,000 was donated to UNICEF to finance a nutritional program 

for the children of Madagascar. The money came from a campaign, 

which took place from the end of 2010 to May 2011, on a selection 

of Tefal products decorated with dancing children. This campaign 

consisted of: 1 product sold = €1 donated = 1 day of nutrition. On 

the back of this success, Tefal repeated its humanitarian partnership 

last September with the "Make a child smile again" campaign, with 

cookware featuring a picture on its base. This campaign was in aid 

of a more universal cause this time - vulnerable children living in an 

environment affected by AIDS. The campaign will continue until June 

2012. 

Groupe SEB UK, 

a pioneer in product 

repair 

"Until now, whenever a British consumer returned 

a product under guarantee, whatever the reason, 

retailers would always exchange it. More than 70% 

of returned products ended up being dumped before 

we could check whether they really were faulty. Now, 

we no longer automatically exchange goods more than 

a few days after the date of purchase and instead we 

ask consumers to contact a call centre. The result: 30% 

simply need further explanation of the user manual! 

If the goods are broken, we take them back and repair 

them within 2 to 3 days. Most of our retailers 

understand the benefits of this approach in terms 

of sustainable development. We are pioneering figures 

in this respect in the United Kingdom." 

Stuart McKay, Customer Services Manager, Groupe SEB UK

United States 

A famous chef 

Emeril Lagasse is a well-known chef who owns eleven 

restaurants in the United States. This partnership is a strong 

endorsement for the Group and guarantees the success 

of seven high-quality kitchen electrics products with a 

professional look: slow cooker, blender, fryer, pressure 

cooker, grill, breadmaker, pie & cake maker. Sales increased 

tenfold in 2011 through teleshopping. This partnership 

of choice also covers cookware and represented 8% of our 

sales under licence. 

United States 

Actifry, a Stateside star 

Following on from its success in 

Canada, Actifry is now gaining 

ground in the United States. 

Chosen by 40,000 families thanks 

to its nutritional benefits and its 

ease of use, it is featured in Oprah Magazine, which 

sponsors the Oprah Winfrey O You event, with 

demonstrations, competitions and online advertising on 

its Facebook and Twitter pages. All of this publicity, along 

with a TV ad campaign, gave sales a massive boost 

(+255% in 2011). More than 200 in-store 

demonstrations and a segmentation of the range by 

distribution channel completed the operation. The 

deployment of Actifry in all English-speaking markets, 

including Great Britain and Australia, has been 

enormously successful with sales increasing 4-fold 

between 2009 and 2011. 

* Oprah Winfrey's beauty and food magazine, 2 million copies 

in circulation. The presenter has her own show on American TV 

(The Oprah Winfrey Show). 

United States 

40 candles for All-Clad 

Following the grand finale of the Bocuse d'Or at SIRHA* in 

Lyon (France) in January, All-Clad celebrated its 40th 

anniversary at the Chicago Show**, in front of a panel of 

chefs and major retailers. It unveiled its new range of 

semi-professional electrical products, including slow cookers, 

waffle makers and toasters. 

* Salon International de la Restauration, de l’Hôtellerie et de l’Alimentation 

(International trade fair for the catering, hotel and food industry) 

**International Home and Housewares Show 


Operations 45 

Canada / United States 

Rowenta heads to Fashion Week 

Rowenta became a sponsor of Fashion Week 

in Canada and the United States back in 

2007. In doing so, it boosted its image as 

an expert in linen care and a brand 

recognised by fashion professionals. 

This event is a chance for us to 

produce specific products as limited 

editions (irons, steam generators, garment steam brushes) featuring the official 

logo. These are for use by the stylists and are also given as gifts to famous people 

attending the event. The brand benefits from exceptional media coverage - 

Rowenta banners, mentions in the press and social networks. Our sales have 

reflected this powerful machine with around 26,000 Fashion Week ProMaster irons 

sold through teleshopping in a single day. This initiative is also spreading to other 

countries: Czech Republic, Russia, Chile, Spain and Switzerland. And there are 

100 Fashion Weeks throughout the world! 

United States 

Being Category Captain at Wal-Mart 

Category management is based on a genuine and effective partnership with 

a client retailer and has the objective of improving shelf space profitability. 

As Category Captain for cookware at Wal-Mart since 2006, we manage the 

entire range (Group brands WearEver and T-fal plus competitors) and ensure 

good product shelf rotation. This affords us plenty of advantages - boosting 

the Group’s expertise, gaining better market understanding, optimising ranges 

to maximise sales for both parties and a preferential link with Wal-Mart, which 

is the largest retail network in the States. 

United States 

All-Clad - Products to last a lifetime or longer.... 

"With products designed to last a lifetime, All-Clad is perfectly in tune with 

sustainable development and is going one step further by offering to restore 

products. Our customers, whether they are consumers or chefs, are very attached to All-Clad 

products; by restoring them we can give them a second lease of life. Our specialists remove and 

restore the handle and remodel the interior and exterior so that they shine like they did when 

they were brand new - no more stains, burn marks or deformations. The pilot phase of this new 

service was immensely successful and the project will be launched in autumn 2012.” 

Bill Groll, Research Director, All-Clad

Colombia 

Imusa launches kitchen electrics range 

In September 2011, 6 months after the acquisition of 

Imusa, the Group organised a major evening event to 

present the new sales approach in Colombia. Almost 250 

partners, customers and journalists gathered at this event 

to celebrate innovation, a chance to see what's new in the 

Group. This means new products of course but also new 

brand strategies. The new approach is based on the 

complementary nature of Imusa and T-fal when it comes 

to cookware and on the introduction of Imusa small 

electrical appliances to add to the existing range from 

Samurai. These were enthusiastically received and initial 

results are very encouraging! 

Colombia 

New Home & Cook Imusa concept 

Groupe SEB has 13 Home & Cook shops in Colombia. The acquisition 

of Imusa has enabled the Group to add to this network of exclusive 

stores with its 12 Tiendas del Hogar stores. These provide additional 

back-up to enable us to pursue our expansion in the market and 

establish our leadership. The Group has already set up synergies 

between the two brands, in particular by launching a new "Home 

& Cook Imusa" concept to bring together the strong points of each 

and offer a wider product range covering multiple brands. 

Brazil 

Launch of Ingenio, Rochedo becomes the key cookware brand 

Cookware leader in Brazil thanks to its wide-ranging and innovative product offer, the Group has 

set up a new brand strategy to respond to consumer expectations in a more targeted way. With 

its mid-range positioning, Rochedo benefits from a brand new product strategy, in particular 

with the introduction of the Ingenio concept. In addition, Panex will lend its brand notoriety 

to help promotional product plans, whilst Clock remains the undisputed champion in pressure 

cookers in this market. Journalists and client retailers were able to discover this brand new strategy 

at a special sales convention, attended by more than 300 people in August 2011. 


Operations 47 

Brazil 

Arno makes an impression 

For the sixth time in a row, the Arno brand came first in the 

Top of Mind 2011 prize, which measures the spontaneous 

notoriety of brands, in the vacuum cleaner category. 

Brazil 

Cookery courses in disadvantaged areas 

For several years now, Groupe SEB Brazil has worked in partnership with local 

organisations to set up cookery courses for women from the poorer areas of 

São Paulo. The objective is to help these women make the most of foodstuffs 

both in an economic and nutritional sense, in particular by using the entire 

fruit or vegetable, including the skin. The courses also include a few 

accounting tips to help those who want to sell prepared meals earn extra 

income. Around 1,200 women took part in this course in 2010-2011. 

Chile / Argentina 

Carlo von Muhlenbrock supports Actifry 

The deployment of Actifry is continuing in South America thanks to the 

involvement of Chilean chef Carlo von Muhlenbrock, who champions a lack 

of excess and plenty of flavour in cuisine. It's a clear message, which has proved 

itself in numerous markets and is already bearing fruit in Argentina and Chile. 

Brazil 

Arno awarded its 2 nd Nova prize for beauty products 

For the 2 nd year running, Arno won the Prêmio de Beleza prize for beauty products, organised 

by the women's magazine Nova in Brazil, for the Liss & Style Arno for Elite.

Japan 

T-fal extends its kettle range 

A forerunner in kettle sales in Japan and the undisputed market leader, T-fal is 

continuing its development by extending its range: 

• Aprecia ultra clean fulfils the high demands of consumers in terms of hygiene 

anti-bacterial plastic, easy to clean thanks to its ultra-polished heating element 

and removable lid. 

• Antoinette ensures complete safety – an increasingly crucial criterion 

in Japan - with its watertight lid to prevent any water leak even 

if the kettle is dropped. 

IN 2011, T-FAL SOLD MORE THAN 

2 MILLION KETTLES IN JAPAN 

Japan 

Solidarity - wide-scale involvement within the Group 

A large movement of solidarity spread within Groupe SEB to come to the aid of the 

victims of the series of disasters that struck Japan in March 2011 - earthquake, 

tsunami and the accident at the Fukushima plant. Through its employees, its 

Foundation and its subsidiaries, the Group raised a total of €600,000 (€420,000 of 

which was in donated products), which was handed over to the Japanese Red Cross. 

This organisation played a pivotal role in rehousing victims, restoring access to 

healthcare and providing psychosocial support for victims. 

Korea 

Positive publicity for Rowenta 

Launched in Korea in 2010, the Rowenta haircare range expanded this 

year with the arrival of the Respect hair straighteners. This launch was 

the first of its kind, aimed at consumers who could try the straighteners 

out for themselves at the many special events taking place in shops and 

on the streets! These were reported in the press, appearing immediately 

in magazines and on television... In two years, Rowenta has established 

itself as a specialist haircare brand! 


Operations 49 

Vietnam 

The Group completes the acquisition of Asia Fan 

In May 2011, Groupe SEB took control of Asia Fan, market leader for fans in Vietnam. Set up in 1990, 

Asia Fan specialises in manufacturing and marketing fans and occupies the top spot in the domestic market. 

Its brand AsiaVina is very well known and it has 40 of its own stores. 

65% of the capital • 2011 sales: €10 million • 2 factories • 700 employees 

Australia 

Continued success 

for Air Force 

In April 2011, the Group 

launched a range of three Air 

Force models through two 

exclusive retailers before 

extending its retail outlets at 

the end of the year. Benefiting 

from a massive television 

advertising campaign and 

plenty of marketing support 

in shops, Air Force was an 

immediate success and the 

Group very quickly gained 

market shares. 

China: Brand new street marketing campaign 

Supor set up an event to illustrate the efficiency of its latest non-smoke wok, blocking off 

the smoke from a factory chimney with a giant wok. 

China 

Two new Lagostina stores 

Lagostina opened two new points of sale in China, one in Chongqing, 

the other in Beijing. Several ranges will be available and models 

created specially for the Chinese market will soon be added.

Russia 

The success of mincers 

In Russia, meat and vegetables are traditionally minced or cut up very finely. The key piece 

of equipment is therefore a meat mincer. Almost 80% of households own one in fact! 

With this requirement in mind, the Group has developed a full range of mincers under the 

Tefal and Moulinex brands. In this way, it aims to fulfil all consumer requirements in 

terms of power, robustness, versatility and design. With a wide-scale advertising campaign 

and strong marketing at the point of sale, the Group has been able to strengthen its 

position and maintain its place as market leader. 

Turkey 

Yoghurts for tastes 

In Turkey, each individual eats 26 kg of yoghurt per year! This is the 

ideal market, therefore, for the very latest Delices yoghurt maker from 

Tefal.... provided that it is suitable for the market. This is Tefal's recipe 

for success, since it has been able to provide consumers with a product 

that fulfils local requirements - two large bowls to cope with the quantity 

of yoghurt consumed by Turkish families; varied, tasty and healthy 

recipes and the promise of authentic and natural yoghurt. Launched in 

September 2011, Delices was immediately very popular with consumers 

and attracted the attention of the press as well as bloggers. 

Central Europe 

"Retail" network for a better 

understanding of our consumers 

In Central Europe, the Home & Cook network of exclusive 

shops is a strategic growth leverage for the Group. 

In addition to increasing sales, the development of these 

shops enables us to build up an in-depth understanding of 

our consumers and adapt our product range accordingly 

for other channels of distribution. 

IN 2011, THE GROUP HAD 

23 SHOPS IN THIS REGION. 


Operations 51 

Turkey 

Hot chestnuts! 

Who said that Actifry could only be used for making chips? 

In Turkey, they like a bit of variety and eat hot chestnuts all winter 

thanks to Actifry! A large-scale multimedia campaign 

(press, TV ads, Facebook, Tefal TV, POS etc.) took place throughout 

the year to remind the public of the versatility of its use. 

2011 SALES OF ACTIFRY 

IN THE TURKISH MARKET: +50% 

India 

Majority stake in Maharaja Whiteline 

Maharaja Whiteline, founded in 1976, is a long-standing brand in the 

north and west of India. It is currently one of the market leaders thanks to 

a wide portfolio of small electrical appliances for preparing food, breakfast, 

cooking, home care and linen care. Maharaja holds leading positions in 

"mixer grinders", which are the forerunners of kitchen electrics in India. 

This acquisition represents a major step for the Group, enabling it to gain 

its first foothold in the Indian market, which is growing by some 15% per 

year. 

Middle East 

Nutritious & Delicious events 

At an event to mark the occasion of World Health 

Day, which took place at the beginning of 2011 at 

the Rashid Hospital in Dubai, Tefal presented its entire 

Nutritious & Delicious range (Actifry low-fat fryer, 

Vitacuisine steam cooker and Nutricook pressure 

cooker) to a panel of around a hundred professionals, 

including dieticians, nutritionists and doctors. With 

demonstrations and tastings, the products roused 

a great deal of curiosity and interest amongst the 

participants. A similar event took place in Saudi 

Arabia at the Riyadh Military Hospital. 

• 55% of the capital 

• 2010 sales: €21 million 

• 1 factory 

• 350 employees

FIVE PRIORITY AREAS p. 54 

ACTION PLAN p. 56 

TURNING WORDS INTO ACTIONS p. 57 

INDIVIDUAL AND GROUP ETHICS p. 58 

A WORKFORCE OPEN TO THE WORLD p. 60 

ACTING AS A SOCIALLY RESPONSIBLE COMPANY p. 66 

LISTENING TO CONSUMERS p. 70 

REDUCING OUR ENVIRONMENTAL FOOTPRINT p. 72

Sustainable development 53 

ACTING NOW 

for the future

Each company defines its own sustainable development priorities depending on the nature 

of its business, the context in which it is developing, its performance and strategic vision. 

Groupe SEB has defined five priority areas, each with its own specific action plan. 

SUSTAINABLE DEVELOPMENT: 

FIVE PRIORITY AREAS 

Enforcing ethical values 

Within the space of 10 years, the Group has doubled in size. It has taken over new companies 

and its centre of gravity has shifted towards emerging economies. The Group is vigilant at all times to 

ensure that this expansion is carried out in compliance with its corporate, social and environmental 

principles. To achieve this, it is gradually putting together a formal reference system on a worldwide 

scale. Two projects that began in 2011 are a significant step forward - the creation of a global Code 

of Ethics and the implementation of better procedures for monitoring suppliers. 

Adhering to a social responsibility policy 

The globalisation of the Group is accompanied by the consolidation of a global social 

platform, based on the principles of fairness and respect for the individual. The Group encourages social 

dialogue beyond the French entities and is already ahead of the game in this respect: 85 collective 

agreements were signed around the world in 2011. Our objective is also to ensure that in each country, 

employees benefit from good working conditions compared with local standards. We also have 

ambitious action plans concerning health and safety. 


Trends 


Upholding our commitment to corporate citizenship 

In line with its corporate values, Groupe SEB places a great deal of importance on its 

corporate responsibility. The Group's corporate philanthropic work focuses in particular on social 

integration through the Groupe SEB Foundation and a multitude of local initiatives. We plan to improve 

the coordination of these local initiatives with the intention of sharing good practices. The Group also 

positions itself as a responsible player in the economic and social development of territories, as is 

demonstrated by its collaboration with social integration enterprises and its actions in favour of diversity 

and equal opportunities. 

Creating sustainable innovations to meet consumer needs 

For Groupe SEB, sustainable development towards consumers is first and foremost about 

supplying them with quality products that will stand the test of time. Our after-sales policy is a good 

illustration of this. We also aim to design products that respect the environment and contribute towards 

health and well-being, such as the Nutritious & Delicious range. Finally, it is about coming up with 

products that are accessible to as many people as possible, including the disabled and people on a low 

income. This is an important feature of our R&D work. 

Reducing our environmental impact 

The great majority of Groupe SEB factories are ISO 14001* certified and have long been 

committed to the continuous improvement of environmental performance. Today, 

our efforts to reduce our ecological footprint are mostly concentrated on eco-design. 

By taking the entire product life cycle into account, the tomorrow’s products 

will be more recyclable, will integrate more recycled materials and will use even 

less energy. The Group is also making progress in the reduction of CO 2 emissions 

linked with transport (eco-logistics). 

*see glossary page 84 

ESTABLISHING SUSTAINABLE DEVELOPMENT AS A CORE PART OF OUR 

BUSINESS 

“2011 saw a step up in the governance of sustainable development, allowing us to establish it right 

at the very heart of our business. The Steering committee for sustainable development now 

incorporates the main managers from Groupe SEB sectors and Strategic Business Areas. 

They pass this policy on to their teams and contribute towards its development by making proposals to the Group 

Executive Committee. 

In 2011, the Sustainable Development Department defined a set of priorities, which resulted in the establishment 

of several major projects, including the development of a Code of Ethics, the formalisation of a Responsible 

Purchasing policy and further work on our eco-design process and our approach to diversity. 

Finally, our efforts to raise awareness of sustainable development will be intensified from 2012 onwards, since it 

is an essential factor for ensuring the support and involvement of our employees.” 

Joël Tronchon, Vice-President, Sustainable Development

2011 ACTION PLAN 

CHALLENGES 

Enforcing ethical values 

Main achievements 2011 (1) 

- Launch of Group's Code of Ethics project 

- Renewal of HRCA* in all entities with more than 

10 people and implementation of action plans 

following the deployment of CBSSC* in China 

Objectives 

- Deployment of Code of Ethics on a worldwide 

scale 

- Reinforcement of Responsible Purchasing policy: 

Supplier charter, outsourcing of audits 

Adhering to a social 

responsibility policy 

- 76% of industrial and logistics entities are 

OHSAS* 18001 certified worldwide 

- 33% female managers worldwide 

- Setting up of a Diversity Committee 

- 3.38% of overall payroll spent on training 

- Accident frequency rate less or equal to 8 in 

2012 and 6.2 in 2013 (France) 

- 100% of French managers trained in diversity 

in 2012 

- Signature of a disability agreement (France) 

Upholding our commitment 

to corporate citizenship 

- 54 projects supported by the Foundation in 2011 - Development of a global policy for sponsorship 

(167 projects supported since its creation in 

2007) 

- Group sponsorship budget: €2.65 million - Globalisation of projects supported by the 

- Renewal of the Foundation for 3 years 

Foundation 

Creating sustainable 

innovations to meet consumer 

needs 

- Eco Intelligence iron and steam units use 30% 

less energy whilst maintaining the same 

performance 

- 77% of products sold are fully repairable 

- Reinforcement of eco-responsibility criteria in 

brands 

- 80% of products sold in 2012 will be fully 

repairable 

Reducing our 

environmental impact 

- Potential recyclability of products sold in 2011: 

77% 

- 79% of industrial and logistics entities are ISO 

14001 certified worldwide 

- 298,000 tons of CO 2 emissions linked 

to transport in 2011 

- Deployment of a new internal eco-design guide 

- 2013: 100% of factories and logistics entities 

ISO 14001 certified 

- 85% of product families covered by LCA in 2012, 

100% in 2015 

For more information, see the full action plan 

for sustainable development on our website at 

www.groupeseb-devdurable.com 

*see glossary p 84 

(1) Excluding new acquisitions (Imusa, Asia Fan, Maharaja Whiteline). 



Commitments and Management 

Expansion of Steering Committee 

The Sustainable Development Department has a dedicated Steering Committee to coordinate 

and encourage a collective and participative approach. The Steering Committee was expanded in 2011 

to get more managers involved in the implementation of a sustainable development policy within their 

teams. Its tasks include the definition and follow-up of action plans, the analysis of business reports and 

the drawing up of a 3-year action plan to submit to the Group Executive Committee. 

The Group's commitments in terms of sustainable development are becoming a reality, with regular 

progress made in social, corporate and environmental issues. This progress is measured by monitoring 

, 

indicators, which are themselves subjected to testing by external auditors, with the aim of ensuring 

transparency and credibility. 

TURNING WORDS 

INTO ACTIONS 

Formalised integration in Group processes 

The principles of sustainable development are an integral part of Groupe SEB's fundamental 

processes. The Internal Audit department has drawn up a checklist based on Global Compact and has 

access to the annual Human Rights self-assessment (HRCA Quick Check* and CBSSC*) results. This data 

is systematically reviewed during audits. In 2011, the Strategy Department decided to include questions 

on sustainable development in studies carried out prior to acquisitions. This was inspired by the HRCA 

Quick Check*. 

External audit and openness 

In anticipation of French regulations, in 2011 Groupe SEB asked PWC to carry out a mock 

audit of its sustainable development reporting (using 2010 data). This initial external review allowed us 

to validate the relevance and reliability of a selection of social and environmental indicators. On the 

strength of these results, Groupe SEB asked PWC to certify its sustainable development data for 2011. 

In general, the Group pays a great deal of attention to the advice of its external stakeholders and 

incorporates this in its actions, in particular within the Diversity Committee (LICRA* permanent member) 

and to prepare the Code of Ethics. 

*see glossary p 84

In order to ensure that its ethical principles are respected in all the countries in which it operates, 

Groupe SEB has developed an international reference system. Various tools, procedures and 

documents, which apply to relations with our various internal and external stakeholders, are gradually 

being added to this reference system. 

INDIVIDUAL AND 

GROUP ETHICS 

Respecting Human Rights 

In 2011, all Groupe SEB entities with more than 10 employees carried out a self-assessment 

with regard to Human Rights. Our Chinese subsidiary Supor implemented this approach for the very first 

time using the CBSSC* system. This was the second wave of self-assessment for all the other entities and 

was carried out using HRCA Quick Check*, just as it was in 2008. 

The first self-assessment shed light on a dozen or so non-conformities, which needed to be addressed. 

These mainly concerned relations with suppliers, in particular the absence of explicit reference to Human 

Rights in contracts. Action plans were subsequently set up. Whilst the 2011 results show an 

improvement, monitoring suppliers is still the main area with room for improvement. This has led 

to a decision by the Sustainable Development Department and the Purchasing Department to set 

up in 2012 a global system for monitoring suppliers on all aspects of sustainable development, 

through associations with third parties. 

Towards a Responsible Purchasing Charter 

Since purchasing represents around 70% of our turnover, the Group is particularly vigilant 

when it comes to ensuring our suppliers respect our commitments to ethical, social and environmental 

concerns. At the end of 2011, the Group began to draw up a Responsible Purchasing Charter, bringing 

together various documents, which until now have been handled separately. From 2012 onwards, this 

Charter will be sent out to our suppliers all over the world and distributed to internal buyers. 



Ethical standards 

HUMAN RIGHTS - ACTION PLANS AT SUPOR 

"All Supor entities in China and Vietnam assessed their Human Rights practices in 2011 by 

answering CBSSC* questions. They completed the assessment sincerely and honestly, without trying 

to hide any weak points. These weak points mostly concerned working hours, holidays and some 

aspects of health and safety. All of these have been subjected to corrective measures, which I am supervising 

along with the Director of Industrial Operations. For example, we have decided to gradually reduce maximum 

weekly working hours for workers and to ensure that compulsory rest days are respected. CBSSC is a tool that 

is helping us to make progress - we shall carry out another review in two years' time." 

Oliver Dong, Human Resources Director at Supor 

99% OF THE WORKFORCE IS COVERED 

BY SELF-ASSESSMENT ON HUMAN RIGHTS 

Aperam Stainless Europe. 

Suppliers: 44 social audits in 2011 

In order to monitor supplier practices, Groupe SEB carried out 44 social audits in 2011, 

9 of which were implemented by an external auditor. A case of non-conformity was identified for a 

Chinese supplier of components. The Group applied the relevant internal procedure, which involved 

the immediate suspension of any further collaboration and formal notice to undertake corrective 

measures immediately or be permanently struck off. In 2010, one case of non-conformity was also 

identified. Since the supplier concerned has rectified the situation, the Group has resumed working 

with this supplier. 

With a view to monitoring our suppliers more professionally on ethical, social and environmental 

concerns, at the end of 2011 the Group set up a partnership with a company specialising in evaluating 

suppliers and has decided to increase its external audits. 


A WORLDWIDE CODE 

OF ETHICS 

Groupe SEB has started work on a 

global Code of Ethics, which will 

be distributed to all employees 

in 2012. Based on Group values, 

it will set out all the main rules of 

conduct for employees. A working 

group, which is made up of 

representatives from the various 

sectors and geographical areas, is 

involved in developing the Code of 

Ethics under the watchful eye of 

the Sustainable Development 

Department. The Code of Ethics 

will tackle twenty or so key topics, 

from respecting Human Rights 

to the fight against corruption 

and including non-discrimination, 

protecting the environment and 

preventing conflicts of interest.

Groupe SEB employees are spread across all 4 corners of the world and benefit from a rich diversity 

of skills, experience and origins... The Group aims to cultivate this melting pot of skills and profiles 

around a shared vision of its values and strategy. 

A WORKFORCE OPEN 

TO THE WORLD 

New talents 

In order to support international expansion, Groupe SEB needs to attract and develop 

talented employees. The efforts it began in 2010 to increase its appeal, in particular to young 

graduates, are starting to bear fruit. Thanks to the new Careers website available in 16 geographical 

areas, the number of unsolicited applications has multiplied by 7 (more than 7,300). The Group has also 

continued to boost its relations with a selection of key business and engineering schools. 

The integration of new recruits is now easier thanks to a system that includes a welcome seminar 

attended by senior executives from the Group. This enables new recruits to immerse themselves in the 

strategy and culture of the business and to start developing their network - in 2011, 4 seminars took 

place involving 135 participants from 21 different nationalities. A comprehensive new welcome booklet 

was introduced in 2011 and will be distributed worldwide in 2012. 

Dynamic career paths, a shared culture 

Internal promotion is another key part of our Human Resources policy. When a position 

becomes available, priority is given to internal applicants. The Group has good visibility of its talent pool, 

thanks to the annual HR review. This review is carried out in a decentralised way across Continents, 

Strategic Business Areas and the main business sectors and is then consolidated at Group level. 

It means that 80% of managers can be individually monitored. It was set up at Supor for the first time 

in 2011. The Group is strongly committed to maintaining the vitality of its management community, 


Social 


which conveys its values and its vision. Geographical mobility contributes towards the circulation 

of a common culture - in 2011, 75 managers were working outside their home country, compared 

with 60 in 2009. 

The same rules for everyone 

To ensure fair and equal treatment for everyone, the Group aims to harmonise its Human 

Resources management systems with the help of an IT system, which encourages the global control 

of these systems. To facilitate the sharing of common processes, the international Human Resources 

network meets twice a year. In 2011, it started a quarterly newsletter, which provides an update on 

good practices and current projects. 

330 MANAGERS 

RECRUITED IN 2011, 

150 OF WHOM WERE 

IN FRANCE 

Dozens of collaborative platforms 

The Groupe SEB intranet is a core part of our internal communications system. It contains a 

mine of information on the Group as well as several dozen collaborative sites structured around a sector 

(Supply Chain, Purchasing etc.) or a project. These enable the relevant communities to share information 

and to increase efficiency, whilst making savings on transport and paper. 

86% OF THE GROUP’S 2,260 

MANAGERS TAKE A SHARE 

IN THE COMPANY'S PROFITS 

EXCLUDING SUPOR 

IMOVE@SEB - FACILITATING INTERNAL MOBILITY 

iMove@SEB, the new Groupe SEB internal recruitment website, was launched in autumn 2011 on an international scale and 

in 14 languages. Available via the intranet, it enables each employee to consult internal job offers "posted" by Group recruiters 

around the world and to submit an application. The international dimension of the website aims to encourage internal 

professional mobility.

Diversity - a proactive approach 

As a signatory of the Diversity Charter in France, the Group aims to increase the diversity 

of our teams in many ways - gender equality, mixing of ethnic and social origins, places allocated to 

the young as well as the elderly, integration of disabled people. We reinforced and structured this 

approach in 2010 by adopting a Diversity action plan, which gained momentum in France throughout 

2011. A set of indicators has been defined to measure progress in the different areas. The Group has 

also committed to a partnership with the LICRA*, which will support the Group with advice and training 

in this field. 

Making it easier for women to access technical positions 

A collective agreement for gender equality was signed in France in December 2011. 

This agreement formalises and contractualises the actions that have been in place for several years, 

especially in terms of salary and appointed jobs. As well as remuneration, professional development and 

training, the agreement also deals with working conditions and achieving a work/life balance. One of 

the objectives is to improve the gender mix in technical positions, both for management and production 

posts. Across all divisions, the proportion of women is increasing in managerial positions. Women now 

represent 33% of managers worldwide compared with only 20% in 2002. 

TWO ORGANISATIONS DEDICATED TO DIVERSITY 

At the end of 2011, Groupe SEB decided to set up its Diversity Council, which is available to employees for advice or 

mediation. This is a structure with equal representation from the unions and management and which also includes a 

LICRA* representative, in a spirit of openness towards external stakeholders. The Diversity Council gives advice on issues 

linked with diversity and with any kind of discrimination for which local Group organisations have not been able to find a 

solution. In addition, the Diversity Monitoring Commission, set up at the beginning of 2011, monitors the implementation 

of the diversity action plan. This is composed of fifteen or so employee representatives, including union delegates. 

* Ligue internationale de lutte contre le racisme et l’antisémitisme (International league against racism and anti-Semitism) 


Social 


Taking on people from deprived or immigrant communities 

Diversity also covers social and ethnic issues. In this area, the group works with specialist 

consultants, including Mozaïk RH, and the equal opportunities network “Nos Quartiers ont des Talents”. 

Temporary staff agencies were also asked to take this principle of diversity into account. 

Well-established social dialogue 

Groupe SEB has always respected freedom of association and placed a great deal of 

importance on social dialogue. In the vast majority of countries, Groupe SEB subsidiaries have unions 

and staff representatives. In 2011, it signed 85 collective agreements around the world, including 

2 major agreements in France. 

One of these concerns gender equality in the workplace and the other concerns the new system for the 

Advanced Planning for Careers and Skills, following the initial 2007 agreement. This second agreement 

is part of a dynamic perspective with two priorities - to integrate young people, in particular with 

apprenticeships and training schemes, and to maintain the employment of elderly people. 

SENIOR CITIZENS BENEFIT FROM 

SPECIFIC SCHEMES FOR KEEPING 

THEM EMPLOYED 

COMPULSORY 

TRAINING IN DIVERSITY 

FOR MANAGERS 

IN FRANCE

MAKING PROGRESS THROUGH TRAINING IS POSSIBLE 

"I have been working at this site, which manufactures irons and steam systems, for 10 years now. 

Until last year, I carried out repair work on assembly lines. When they asked me at the beginning 

of 2011 to go on the "Automated production systems operator" training course, I said yes straight away 

because I wanted to move on in my career. I studied mechanics, electricity etc. for 6 months. Now I am an 

equipment operator in the iron soleplate workshop, which is starting to take on women. I feel really fulfilled in my 

work and it makes me want to keep on progressing, maybe towards working in the Quality department." 

Christelle Pascallon, Production line operator – Pont-Évêque (France) 

More than 1,590 people took part in Groupe SEB University training courses in 2011. 

Training at every level 

Training, which is essential for skills development, concerns all Groupe SEB employees. 

The Groupe SEB University develops high-level programs in management or focussing on professional 

skills (sales and marketing, industrial organisation, finance etc.). Several of these have been adapted 

by the Supor University, which trained 240 managers in 2011. Each subsidiary develops additional 

programs, which are adapted to suit local requirements. 

In France, the large-scale training program organised between 2008 and 2011 to increase employability, 

which was a priority for primary levels of qualification, involved more than a thousand people. 

Moving towards a culture of safety 

The initial phase of our Safety program, deployed on an international scale in 2008, laid 

the foundations for the Group's policy in this area and involved all industrial and logistical entities in 

working towards OHSAS 18001* certification (76% certified by the end of 2011, excluding Imusa and 

Asia Fan). Over three years, the accident frequency rate worldwide has dropped from 6.34% to 4.04%. 

Today, the Group wants to go even further and create a real culture of safety within its teams, starting 

with France where our performance in terms of safety still falls below expectations. This is the objective 

of the "Sécuri-SEB" plan, launched at the end of 2011 across all of our French sites. The plan is an 

ambitious one - to halve the number of accidents within 3 years. A Steering Committee for Health and 

Safety, led by the Group's Director of Industrial Operations, has been set up to decide what steps should 

be taken to achieve this objective. 


At the Canonsburg (USA) site, the 

number of accidents has been 

quartered in 3 years. 


Social 


Safety - a significant challenge for management 

A specific training program will be in place from 2012 for 

managers of factories and logistics platforms. These managers will 

also be assessed according to their safety figures, which will be taken 

into account when calculating the variable part of their salary. 

In addition to the involvement of managers, the "Sécuri-SEB" plan also 

focusses on an automatic notification system following each accident 

("Attention Safety" flash widely circulated). 

1,000 days without any accidents at the Alençon site (France). 

Continuation of Health plan 

Our work continues in the area of preventing musculo-skeletal disorders (MSD), which was 

the main objective of the Health plan launched in 2009. Actions are initially focussing on France, with 

almost 10,000 hours of training delivered in 2010/2011 (managers, designers, operators). In addition, 

we have started talks with labour unions on particularly arduous tasks. This will result in specific actions 

being set up, to be coordinated with those already in place. 

Gymnastics in the workplace at the São Bernardo do Campo (Brazil) site. 

WELL-BEING IN THE WORKPLACE - THE EMPLOYEES' OPINION 

"In 2011, Groupe SEB asked us to carry out some research into psycho-social risks in France. We met 

with all of the employees in small groups during working hours and we asked them to complete an INRS* 

questionnaire anonymously. We had an exceptional response rate of 81%! The questionnaire did not detect any 

major global issues, although there were some areas where improvements could be made on individual sites and in 

some sectors. The responses to the questionnaire revealed a clear sense of identity amongst Groupe SEB employees and 

high quality relations between colleagues and with managers. These positive results reflect the well-established good 

practices in social concerns, thanks to the systems that the Group has had in place for several years now." 

Elisabeth Mutelet, Director of Turka, a Human Resources consultancy firm 

*Institut National de Recherche et Sécurité, the French organisation for occupational health and safety

Baking class to help senior citizens in Brazil supplement their income. 

Groupe SEB places a great deal of importance on its social responsibility. This is evident in 

its corporate philanthropy policy, which promotes social integration, as well as in the Group's daily 

business, in which it combines the ideas of solidarity and openness to other people. 

ACTING AS A SOCIALLY 

RESPONSIBLE COMPANY 

Primary objective - promoting social integration 

The fight against any form of exclusion is the basis of Groupe SEB's philanthropic work, 

whether this comes from the corporate Foundation or from initiatives by the Group's subsidiaries. 

This commitment is based on three main areas of involvement - work, living conditions, and education 

and training. Altogether, the Group spent €2.2 million on its philantropic initiatives in 2011. At the end 

of the year, it renewed the statutes of its Foundation, which was set up in 2007 for an initial 5-year 

period. As a continuation of the previous budget, it was allocated €1.8 million for 3 years. In future, 

it will aim to expand its activities worldwide, working alongside our subsidiaries. 

GROUPE SEB FOUNDATION: 5 YEARS, 167 PROJECTS 

"When the Foundation was set up in 2007, Groupe SEB committed itself to fighting against exclusion 

with a budget of €3 million over 5 years. In actual fact, it exceeded this achievement with additional 

donations for the victims of natural disasters (China, Haiti, Japan etc.). Over the past 5 years, 

the Foundation has lent its support to 167 projects, including 84 large-scale projects, managed by 

associations with which it has formed close ties: Habitat & Humanisme, Envie, Fondation 

de la 2 e Chance, Fondation d’Auteuil and the Agence du Don en Nature of which it is a founder member. 

The contributions made by the Foundation are enhanced by the involvement of our employees - 

we currently have 160 volunteers and a dozen or so "ambassadors" from our French sites." 

Sophie Le Joille, Corporate philantropy Project Manager 



Communities 

Lourdes Mecenova challenge team (France). 

The Foundation's 2 nd volunteer day. 

Our employees are getting involved 

Several hundred volunteer employees all around the world lend their support to the Group's 

philanthropic work. This doesn't count all those who take part in special events organised for a 

particular cause. For example, more than 500 French employees took part in the Mecenova challenges* 

organised at Group sites to encourage employee involvement in solidarity projects. 

*A national event to get companies and employees involved in helping associations. 

On track for employment 

As part of the solidarity economy, Groupe SEB supports several partners including the Envie 

network, which brings together fifty or so social integration companies in France. It employs more 

than 1,000 people in difficulty and helps them find lasting employment by training them to repair or 

disassemble small electrical appliances at the end of their lifecycle. The restored products are sold in 

the shops of the network, enabling low income households to buy low price equipment. In 2011, 

Envie opened a new shop on land provided by Groupe SEB near its factory shop in Vernon. 

CHINA: SUPOR SCHOOLS WELCOME 3,600 DISADVANTAGED CHILDREN 

One of the key strategies of Supor's corporate philantropy policy is to develop easier access to education in the poorest 

areas of China. Since 2006, the Chinese subsidiary has donated almost RMB 10 million (€1.24 million) to fund the 

construction of 10 schools and the associated infrastructures (libraries, canteens etc.). In 2011, 3,600 pupils aged 6 

to 15 were taught at the schools by 200 teachers. This program is run in partnership with the local authorities. As well 

as financing buildings and overseeing construction work, Supor also organises training sessions for teachers and plans 

to open two new schools each year.

Promoting diversity and equal opportunities 

The Group is highly committed to encouraging diversity and has made some significant 

progress in this area. In autumn 2011, the Group signed 2 new partnerships in France. The first 

agreement, which was signed with the "Nos Quartiers ont des Talents" association, involves sponsoring 

young graduates in order to help them find the right job for their qualifications. The second agreement, 

signed with the Télémaque Institute, involves tutoring secondary school students to give them more 

chances to succeed, in particular through socio-cultural awareness and careers advice. Many of our employees 

have already responded to the appeal, including several members of our Executive Committee. 

These types of initiatives are also carried out in other countries, such as the Future life project in Brazil 

which helps a group of 30 or so young people from São Paulo each year. These students benefit from 

refresher courses in basic subjects and help with seeking employment. 

Korea - support for integrating multicultural families, who are often subject to discrimination. 

A SOCIAL CLAUSE IN INVITATIONS TO TENDER 

"Groupe SEB has included a social clause in its 2011 invitation to tender for the collection and 

processing of waste from its French factories. This stipulates that the selection of suppliers will take into 

account their approach to encourage the professional integration of people in difficulty (direct employment, 

temporary contracts, sub-contracting, setting up of qualifying courses etc.). The selected companies proposed definitive 

action plans in this respect, which will be followed up jointly by the Purchasing and Sustainable Development 

departments. This social clause will be gradually integrated in an increasing number of invitations to tender." 

Emmanuelle Marteau, Director of non-production Purchasing 



Communities 

Solidarity also plays a role in an economic context 

In addition to our corporate sponsorship work, many of our sites have economic relations 

with solidarity organisations or social integration enterprises. This is the case in Brazil, for example, 

where our subsidiary is a partner of an association for integrating adults with mental disabilities - 

around fifty of these adults work at the Mooca site on assembly processes. In the USA, the Canonsburg 

factory has been working with a similar organisation for the past 10 years, in particular for recycling 

metals. The Rumilly (France) site gives its product packaging assignments to a local rehabilitation 

company, which it helped to set up and which it supports by transferring skills. 

Life’s Work (USA). 

SENEGAL - A DIFFERENT SOCIO-ECONOMIC APPROACH 

"The AFDI* is an association from the French farming community which supports farming projects in southern 

countries. We have set up a partnership with Groupe SEB on a dairy industry project in Senegal. We share the same 

values of passing on expertise, innovation, authenticity and we have complementary skills - ours are in agriculture 

whilst Groupe SEB has expertise in nutrition and transforming foodstuffs. Groupe SEB will in particular be involved 

in the local development of milk (pasteurisation, yoghurts etc.), allowing women to generate income whilst 

improving the diet of local residents. The objective is to gain a deeper understanding of local restrictions, 

requirements and usage in order to come up with solutions to develop this business further." 

Laurence Briand, Director of the AFDI for the Burgundy and Franche-Comté regions (France) 

* Agriculteurs Français pour le Développement International (French farming association for international development) 

Furthering the cause of healthy eating 

The Group is involved in areas where it can help with social issues in which it has expertise, 

such as nutrition and the fight against obesity. In France, for example, it has established a partnership 

with Fondalim, an association in Burgundy which provides food aid, and with several social centres 

in order to improve the nutrition of people in difficulty, in particular through cooking workshops and 

a recipe book. 

The Group is also involved in campaigns to raise awareness amongst nutritionists and dieticians in 

hospitals. This was the case in 2011 in Chile's largest hospital, San Carlos de Apoquindo. With the 

objective of preventing cardio-vascular disease, it has also started a vast study in France concerning 

200 patients monitored by twenty or so doctors to evaluate the impact of its Nutritious & Delicious 

approach on eating habits.

Consumer satisfaction is Groupe SEB's number 1 objective. We use our power of innovation to create 

products and services to improve consumers' well-being, whilst respecting the principles of sustainable 

development to which they are increasingly sensitive. 

LISTENING 

TO CONSUMERS 

Quality first and foremost 

Groupe SEB's primary requirement is the quality of our products. 

The ambitious plan we launched back in 2007 to improve the Group's performance 

in this respect is now bearing fruit - between 2009 and 2011, the global rate of 

return for products under guarantee decreased by around 35%. This considerable 

improvement is also confirmed by indicators measuring the quality of goods as they 

leave the factory - the rate of potentially defective products was quartered over 

2 years, both from Group units and from sub-contractors. 

Repair rather than exchange 

For broken or faulty products, the Group prioritises repair over exchange. This is more 

beneficial for the environment as well as for the consumer, particularly when the product is no longer 

under guarantee. This repairability policy has been in place since 2008 and 77% of products sold in 

2011 were fully repairable. Groupe SEB considers products to be fully repairable if all replaceable parts 

are available (with relevant assembly instructions) and with no parts costing more than half the product 

price. 

FOR ALL CONSUMER QUESTIONS - 

ONE TELEPHONE NUMBER PER COUNTRY 

ON THE PRODUCT LEAFLET 



Consumers 

Extending the lifetime of products 

To encourage the repair of appliances that are no longer under guarantee, in 2011 the Group 

set up a policy of reducing the price of spare parts, with reductions of up to 40% in some countries. 

The parts are available up to a minimum of 5 years after the product is no longer manufactured. 

In addition, consumers can now purchase consumables, accessories and various parts from our new 

website: www.accessories.home-and-cook.com 

3,500 REPAIR CENTRES 

IN THE WORLD 

To carry out its product repair 

work, the Group has an 

international network of 3,500 

approved repair centres, which are 

committed by contract to 

achieving set service levels 

(e.g. repair within 48 hours unless 

there is a delay in procuring spare 

parts) and consumer satisfaction. 

These centres are gradually being 

connected to a single IT system, 

which centralises all the Groupe 

SEB after-sales service information. 

They employ the equivalent of 

around a thousand technicians 

working full time on repairing 

Group products. 

Responsible innovation 

Sustainable development is becoming more and more important to today's consumers. 

The Group is innovative in this area, both when it comes to environmental concerns (products using less 

energy, recyclable products etc.) as well as social issues (products that promote healthy eating and are 

accessible to as many people as possible etc.). In this way, the products in our Nutritious & Delicious 

range are targeted at consumers who want to eat healthily without having to give up the pleasure 

of tasty food and many of our appliances make it easier to have a more balanced diet when cooking 

at home. The Group is also improving the ergonomics of its products aimed at more frail people, 

in particular senior citizens. 

A MULTI-PURPOSE COMPLEX FOR BRAZILIAN CONSUMERS 

Viver Casa & Gourmet in São Paulo is dedicated to Groupe SEB customers and consumers. In 2011, 25,000 people 

visited the complex, of whom 14,500 attended courses on cooking, gastronomy, hairdressing, beauty etc. In total, more 

than 400 courses were available, some of which covered the topic of preventing waste (recipes based on the skin and 

peel of fruits and vegetables, ways of saving water and energy etc.). The complex is organised into 19 different areas, 

each with its own style, where consumers and customers can take part in themed workshops, attend demonstrations 

and of course find out more about Groupe SEB products.

At Groupe SEB, respect for the environment starts right from the design stage of a product and 

continues throughout the manufacturing process and the use of the product until it is ready for 

its end-of-life. All of our employees are made aware of the importance of protecting the environment. 

REDUCING OUR ENVIRONMENTAL 

FOOTPRINT 

Eco-design and lifecycle analysis 

When designing new products, our teams follow the Group's eco-design recommendations 

- maximum recyclability, lower energy consumption, use of recycled materials, repairability etc. 

75% of our product families have already been subjected to lifecycle analysis. This measures the 

impact of a product on the environment at each stage of its lifecycle and enables research to be 

directed at reducing the product’s ecological footprint. The Rowenta Eco Intelligence range is 

particularly efficient in terms of saving energy - in 2011, the range was expanded with an 

iron and steam unit, which use 30% less energy whilst maintaining the same performance. 

A WATCHFUL EYE ON CHEMICAL SUBSTANCES 

"EcoMundo specialises in conformance to regulations on chemical substances, in particular REACH*. In view 

of the increasing complexity of these regulations, Groupe SEB came to us at the end of 2011. We were asked to 

manage the traceability of all the substances included in the eco-statement sent to its suppliers. Their suppliers 

now have to enter the required information in a dedicated internet portal. We support them in this process, which 

is often perceived as highly restrictive. This educational process is very important to Groupe SEB, which follows the 

status of declarations in real time. All suppliers concerned will have set up this new system by mid 2012." 

Pierre Garçon, President of EcoMundo 




Environment 

Eco-production: Ongoing improvement in factories 

As far as our environmental policy is concerned, according to Group data 79% of our 

factories are ISO 14001* certified (excluding Imusa and Asia Fan). New entities from acquisitions are 

also committed to this process. The Omegna (Italy) site was certified in 2011 and the Canonsburg (USA) 

and Supor (China) factories are aiming for certification in 2012. 

EFFYPACK: SMALL CHANGES, MAJOR EFFECTS 

“The EffyPACK project, launched in 2010 by the Logistics Department, aims to optimise the loading 

of transport units to reduce CO 2 emissions. The principle is to involve logistical constraints (pallet, 

lorry and container dimensions) from the product design stage onwards. Standard rules have been 

defined and circulated to everyone involved in the process. In this way, by modifying the dimensions 

of Actifry packaging by a few millimetres, the Is-sur-Tille (France) site has managed to increase its lorry 

load rate by 20% and reduce its CO 2 emissions by the same amount. EffyPACK was deployed worldwide in 2011 

and also covers sub-contracted products.” 

Minh Huong Nguyen Le, Analyst in the Logistics Department 

Eco-logistics: Lower CO 2 emissions 

In order to reduce CO 2 emissions linked with the transport of products and components, 

Groupe SEB is continuing to improve the load rate of transport units and to develop alternative 

solutions to road transport. This is the case in Brazil, for example, between the São Paulo factory in 

the south and Recife in the northeast - 52% of the volume of products, which until now have all been 

transported by road, were transported by sea in 2011. The Group has also continued to improve 

the reliability of its transport carbon footprint on an international level. 

IT equipment is also involved... 

Group efforts to limit our impact on the environment are also applied to our IT systems. 

Operations have been set up on a worldwide scale to encourage the sharing of printers and the 

adoption of good printing practices. In France, these operations have enabled us to reduce the number 

of printers by 10% in one year and to reduce printing costs by more than 40%. Another global initiative 

is the pooling of IT servers to use fewer machines, which took place between January 2010 and April 

2012. This should enable us to save around 1,330 MWh per year, which is the equivalent of the annual 

energy consumption of 190 French families. 

PONT-EVÊQUE FACTORY 

(FRANCE): 

96% OF COMPONENTS 

TRANSPORTED BY BARGE 

OR RAIL FROM PORTS 

*see glossary p 84

FINANCIAL OVERVIEW p. 76 

SOCIAL OVERVIEW p. 80 

ENVIRONMENTAL OVERVIEW p. 82 

OPENING UP 

new perspectives

Indicators 75

|Change in sales over 5 yeas 

Consolidated in € millions 

|Change in sales 2011 / 2010 

In € millions 

2,870 3,230 3,176 3,652 3,963 

3,652 

+250 -26 +87 3,963 

Organic 

growth 

Currencies 

Asia Fan 

Imusa 

6.9% 

-0.7% 2.3% 

+8.5% 

2007 2008 2009 2010 2011 

2010 

2011 

Strong growth in sales since 2009, reflecting 

regular organic growth and the contribution 

of acquisitions in emerging countries. 

Strong performance in 2011 (+8.5%) due to solid 

organic growth fuelled by emerging 

markets (+14%) and additional turnover from 

acquired companies, but badly hit by the 

depreciation of several currencies against the euro. 

|Change in operating result from activity 


|Construction of operating result from 

activity 


301 342 355 438 453 

438 

+76 -32 -59 -1 +26 +5 

453 

Volume effect 

Price & mix effect 

Purchase price 

Increase in costs 

Currency impact 

Acquisitions 

2007 2008 2009 2010 2011 

2010 2011 

Continued growth despite the difficult 

economic context, thanks to strong sales and 

permanent adaptation to market realities. 

New historic record, which can mostly be put 

down to a very positive volume effect but 

mitigated by the extra cost of purchases mostly 

due to the increased price of raw materials. 


Indicators 77 

Financial overview 

|Net financial debt over 5 years 


|Debt ratios as at 31/12 

585* 649 243 131 673** 

0.7 

1.9 

0.6 

1.7 

0.2 

0.6 

0.1 

0.3 

0.5 

1.3 

2007 2008 2009 2010 2011 2007 2008 2009 2010 2011 

*Supor 

**Supor (20% additional participation). Imusa, Asia Fan, Maharaja 

z Net debt/shareholders' equity 

z Net debt / EBITDA 

With the aim of maintaining financial flexibility, 

our debt structure gives priority to the diversity 

of financing sources and the extension of 

maturity. 

A healthy and sound financial situation, 

moderate debt ratios. 

|Change in net debt 


131 

-508 

+34 

+123 

+115 

673 

+110 

+570 

+18 

+13 

Purchase of 

shares 

+67 

Debt at 

end 2010 

Cash flow 

Taxes and financial 

expense 

Dividends 

Purchase of shares 

Acquisitions 

Investments 

Restructuring 

WCR 

Other 

Debt at end 

2011 

Substantial increase in 2011, predominantly linked to financing acquisitions and takeovers.

CONSOLIDATED INCOME STATEMENT 


ASSETS 

Revenue 

Operating expenses 

OPERATING RESULT FROM ACTIVITY* 

Profit-sharing 

RECURRING OPERATING PROFIT 

Other operating income and expenses 

OPERATING PROFIT 

Finance costs 

Other financial income and expense 

Share of profits/(losses) of associates 

PROFIT BEFORE TAX 

Income tax expense 

NET INCOME 

Non-controlling interests 

PROFIT ATTRIBUTABLE TO SEB S.A. 

* Formerly operating margin 

31/12/2011 

3,963.3 

(3,510.0) 

453.3 

(43.9) 

409.4 

(8.9) 

400.5 

(19.1) 

(8.1) 

373.3 

(112.4) 

260.9 

(26.4) 

234.6 

31/12/2010 

3,651.8 

(3,213.9) 

437.9 

(50.4) 

387.6 

(38.5) 

349.0 

(12.0) 

(3.9) 

0.0 

333.1 

(89.5) 

243.6 

(23.2) 

220.4 

31/12/2009 

3,176.3 

(2,820.9) 

355.4 

(33.5) 

321.9 

(73.8) 

248.1 

(22.6) 

(4.6) 

0.0 

220.9 

(58.1) 

162.8 

(16.8) 

146.0 

CONSOLIDATED BALANCE SHEET 


ASSETS 

NON-CURRENT ASSETS 

Inventories 

Trade receivables 

Other receivables 

Current tax assets 

Current derivative instruments – assets 

Cash and cash equivalents 

CURRENT ASSETS 

TOTAL ASSETS 

31/12/2011 

1,498.7 

702.2 

828.4 

71.6 

57.6 

7.8 

196.0 

1,863.5 

3,362.2 

31/12/2010 

1,289.7 

635.5 

733.9 

59.4 

26.8 

14.1 

236.6 

1,706.3 

2,996.0 

31/12/2009 

1,201.0 

466.3 

627.1 

48.1 

15.1 

5.2 

307.8 

1,469.6 

2,670.6 

EQUITY AND LIABILITIES 

GROUP EQUITY CAPITAL 

NON-CONTROLLING INTERESTS 

TOTAL EQUITY CAPITAL 

Long-term borrowings 

Other non-current liabilities 

NON-CURRENT LIABILITIES 

Trade payables 

Other current liabilities 

Short-term borrowings 

CURRENT LIABILITIES 

TOTAL EQUITY AND LIABILITIES 

31/12/2011 

1,238.4 

123.4 

1,361.8 

534.1 

235.0 

769.1 

515.6 

383.6 

332.1 

1,231.3 

3,362.2 

31/12/2010 

1,398.2 

173.1 

1,571.3 

201.8 

198.9 

400.7 

494.4 

359.5 

170.1 

1,024.0 

2,996.0 

31/12/2009 

1,081.3 

138.8 

1,220.1 

301.1 

193.0 

494.1 

398.0 

311.7 

246.7 

956.4 

2,670.6 


Indicators 79 

Financial overview 

REVENUE BREAKDOWN 

CUSTOMERS: €3,963 M 

• Western Europe: 38% (of which France: 18%) 

• North America: 10% 

• South America: 11% 

• Asia / Pacific: 23% 

• Central Europe, CIS and other countries: 18% 

"Sourced" products represent: 29% of sales 

SUPPLIERS: €2,727.3 M 

• 1,164 suppliers* of materials, components and finished 

products, including a panel of 385 suppliers representing 

more than 84% of these purchases 

* Data excludes Supor 

STATE AND LOCAL AUTHORITIES: €165.4 M 

• Corporation tax: €112.4 M 

• Local taxes: €53.0 M 

SHAREHOLDERS: €66.8 M 

• Paid in 2011 for the 2010 financial year 

EMPLOYEES: €658 M 

• Paid to 23,988 employees 

74% total salary 

26% social charges 

• Profit-sharing and legal profit-sharing: €40.7 M 

to be paid in 2012 

RESERVED FUNDS: €318.6 M 

• Refinancing of investments: €114.0 M 

• Variations of provisions linked to business risks: €10.4 M 

• Transferred to reserves: €194.2 M 

BANKS AND BONDHOLDERS: €27.2 M 

• Mainly financial charges linked to interest 

on bank loans 

Honour for the Group's Finance Department 

Just like in 2010, the Finance Department was ranked top in France 

out of 1,500 companies by the DFCG (French national association of 

financial managers and management control) magazine in partnership 

with Les Echos for risk management, productivity and financial 

performance strategy.

This information does not include Asia Fan (Vietnam) or Maharaja Whiteline (India), companies 

in which Groupe SEB acquired a stake of 65% and 55% respectively in 2011. 

|Breakdown of employees by geographical zone 

24% France 

Asia / Pacific 52% 

6% Other Western European countries 

3% Central Europe, CIS, other 

3% North America 

12% South America 

On 31 December 2011, Groupe SEB employed 23,988 people worldwide, almost a quarter of whom are in France. 

In 4 years, the number of employees has increased by 27%. 

Worldwide 

|Breakdown of managers by gender 

In % 

|Training budget 

as % of total payroll 

3.1 

3.1 

3.3 

1.85 

2.08 

3.38 

z Female 

z Male 

6.8 

6.5 

6.7 

2009 

2010 

2011 

2009 

2010 

2011 

In 2011, 10% of Group employees were 

managers. 33% of these management positions 

were held by women. 

Worldwide 

Texte In 2011, à venir. indirect labour costs were included in the training budget 

in order to give a better idea of the efforts made by the Group 

in this field. 

Worldwide 


Indicators 81 

Social overview 

|Accident frequency rate* 

|Accident severity rate** 

6.34 

5.74 

4.04 

0.22 

0.19 

0.13 

2009 

2010 

2011 

2009 

2010 

2011 

Health and Safety plans, introduced in the Group in 2009 and 2008 respectively, are 

starting to bear fruit. In France, the frequency rate decreased from 11.99 in 2010 to 9.96 in 2011. 

* Frequency rate: Number of work accidents with absence, per million hours worked. 

** Severity rate: Number of working days lost, per 1,000 hours worked. 

Worldwide 

|Number of collective agreements signed in 2011 

Asia / Pacific 16 

31 France 

South America 11 

North America 10 

Central Europe 6 

11 Other western European countries 

85 collective agreements were signed worldwide in 2011, more than half of which were outside Europe. 

Worldwide

Transport-related CO 2 emissions 

The carbon footprint linked with the transport of products, 

materials and components was estimated at 250,325 tonnes 

equivalent CO 2 for 2011. This has therefore decreased compared with 

2010 (-6%), in spite of the organic growth of the Group and its turnover. 

This data covers a worldwide range, with data from the new acquisitions 

of Asia Fan and Imusa having been extrapolated. 

USE OF DIRECT RAW MATERIALS FOR FINISHED 

PRODUCTS MANUFACTURED 

Metals: 85,962 tonnes 

of which motors 30,111 tonnes 

Plastics: 48,100 tonnes 

Packaging: 31,331 tonnes 

USE OF INDIRECT RAW MATERIALS 

FOR PROCESSES, BUILDINGS AND EMPLOYEES 

LPG: 819 tonnes 

Natural gas: 148.3 gWh 

Electricity: 158.7 gWh 

Fuel excluding transport fuel: 32 m 3 

Water: 997.9 thousand m 3 

FINISHED PRODUCTS 

180,423 tonnes of finished products manufactured, excluding sourced products, in 2011. 

Finished electrical products and cookware manufactured in 2011 are 77% recyclable. 

USE OF RESOURCES BY FINISHED PRODUCT MANUFACTURED 

2010 2011 

Gas (kWh) 1.92 1.65 

Electricity (kWh) 1.76 1.76 

Water (l) 11.09 11.08 


Indicators 83 

Environmental overview 

Scheme of impact on the environment 2011 

Coverage: Entities covered by ISO 14001 certification, 

which represent 79% of the Group's industrial and logistical entities (excluding Imusa and Asia Fan) 

EMISSIONS 

Atmospheric emissions: 57,426 tonnes equivalent CO 2 

Total of direct (produced by burning fossil fuels) and indirect (from the 

purchase of electricity) greenhouse gas emissions 

Quantity of COD (chemical oxygen demand*) discharged into water by 

our own water treatment plants: 38.4 tonnes 

* see glossary, page 84 

WASTE 

Non-hazardous waste: 12,002 tonnes 

of which 82.8 % goes through a recycling network 

of which 7.4 % goes into energy production 

Hazardous waste: 984 tonnes (excluding sewage and used oils) 

100% reprocessed according to current regulations 

Metal waste: 6,250 tonnes 

Electrical and electronic equipment waste: 320 tonnes 

Water treatment sludge: 3,876 tonnes

ACCIDENT FREQUENCY RATE: Number of work accidents with absence, per million hours worked. 

ACCIDENT SEVERITY RATE: Number of working days lost, per 1,000 hours worked. 

ADEME: French Environment and Energy Management Agency. 

CBSSC: China Business and Social Sustainability Check, a self-assessment tool on the issue of Human Rights, developed 

by the Danish Institute for Human Rights. It is the equivalent of the HRCA Quick Check, adapted to suit circumstances 

in China. 

CECED: European Committee of Domestic Equipment Manufacturers. 

CHEMICAL OXYGEN DEMAND (COD): Represents the necessary quantity of oxygen to oxidise all organic matter 

contained in water. This data is representative of organic and chemical pollution. 

DIVERSITY CHARTER: A document that encourages French companies to promote workforce diversity and to combat 

all forms of discrimination. 

ECO-DESIGN: Design which seeks to minimise the environmental impact of products at every stage in their lifecycle. 

ECO-ORGANISATION: A non-profit organisation accredited by the public authorities which carries out legal 

obligations on behalf of its members in the area of collecting and processing waste. 

ECO-PRODUCTION: Manufacturing that respects the environment and limits potential ecological risks. 

ECO-STATEMENT: Group specifications binding on suppliers, which prohibit the use of hazardous substances 

in products and components. 

EFFYPACK: Packaging system for supply chain efficiency, a project which aims to include dimension constraints 

in product design and packaging in order to optimise palette loading for transport. 

ENVIRONMENTAL STATEMENT: Groupe SEB requirements in terms of the environment from its panel of suppliers 

for production and sourced finished products, which are not ISO 14001 certified. 

GLOSSARY 

GLOBAL COMPACT: United Nations pact that promotes ten principles covering Human Rights, labour law, 

the environment and anti-corruption. 

HRCA: The Human Rights Compliance Assessment quick check is a self-assessment tool developed by the Danish 

Institute for Human Rights, in liaison with the UN. 

ISO 14001: International Standards Organisation specifications for the ongoing improvement of environment 

management systems. 

LABOUR RIGHTS STATEMENT: Groupe SEB requirements from its suppliers in terms of their social approach, based 

on SA 8000 standard. 

LICRA: International League Against Racism and Anti-Semitism, an internationally recognised association against 

discrimination worldwide and a permanent member of the Groupe SEB Diversity Committee. 

OHSAS 18001: A set of international specifications for the ongoing improvement of industrial health & safety 

management systems. 

REACH: Registration, Evaluation, Authorisation and restriction of Chemical substances, European regulations aiming 

to ensure a high level of protection for public health and the environment. 

ROHS: Restriction Of Hazardous Substances, European directive on the restriction of hazardous substances such as lead, 

mercury, cadmium and hexavalent chromium in electrical and electronic equipment. 

SA 8000: Social Accountability 8000 Standard - an international standard which controls and monitors working 

conditions, health and safety, non-use of child labour and other areas. 


Acknowledgments 

This document was produced by the Financial Communications department in cooperation with the Sustainable Development 

department. It is the fruit of the efforts of many members of Group staff and stakeholders whom we would like to thank 

for their contribution. 

We would like to thank in particular the stakeholders and those interviewed: 

• Hugues Bourgain, Director of Arbitration at Coface 

• Laurence Briand, Director of the AFDI for Burgundy and Franche-Comté 

• Pierre Garçon, President of EcoMundo 

• Elisabeth Mutelet, Director of the consultancy firm Turka 

• Virginie Raisson, Managing Director of Lépac and author of "2033, atlas des Futurs du Monde" (Laffont) 

• Lylian Vignau, Managing Director of IRTS (the international structure of the Casino Group) 

The number of pages in this report has been reduced to limit paper consumption. 

Certain information, particularly relating to sustainable development, has been summarised. 

This report is printed on FSC certified Balance Silk recycled paper. The printer is environmentally certified by Imprim’vert 

(environment protection charter). 

For further information consult our website 

www.groupeseb.com

Groupe SEB 

Les 4 M - chemin du Petit Bois - BP 172 

69134 Ecully Cedex France 

Tel: +33 (0)4 72 18 18 18 


+33(0)1 56 88 11 11 - Photos: Photothèque Groupe SEB - 

DixDix - Jean-Jacques Bernard - Pierre Orssaud - Philippe Schuller - Eduardo Martino/Gamma-Eyedea - Erébus: Virgile et Erick Ganne - Illustrator: Arthur Rainho

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