Download the file. - Groupe Seb

BUSINESS and SUSTAINABLE 

DEVELOPMENT REPORT 2012

LLEADERSHIP• 

EADERSHIP• 



EADERSHIP• 






EADERSHIP• 

EADERSHIP• 










GOVERNANCE 

1-7 

Groupe SEB has always set itself the mission of making day-to-day life easier and more agreeable all around 

the world. By creating innovative products and solutions, the Group aims to make consumers' domestic lives 

more pleasant, harmonious and worthwhile. A major player in "living well", it markets easy-to-use products that 

make the everyday life less constraining. To achieve this, Groupe SEB always stays connected with its surroundings, 

its consumers and global trends. Capitalising on its unique expertise accrued over the years, it is building 

the future and anticipating the aspirations of tomorrow's world. 

FUNDAMENTALS 

8-37 

BUSINESS 

38-53 

SUSTAINABLE DEVELOPMENT 

54-73 

OVERVIEW 

74-83 

Sales 

€4,060 million 

Operating result from activity 

€415 million 

Almost 

25,000 employees 

Leading positions in more than 25 countries worldwide 

24 

emblematic brands 

65 

marketing companies 

Over the years, Groupe SEB has built up itself a leading position worldwide in small domestic equipment. 

Based on a combination of top local positions (first or second place) and a vast international presence, wellbalanced 

between mature and emerging or emerged markets, the Group's strength gives it a solid foundation 

from which to continue its expansion, whilst remaining reactive in an increasingly unstable environment. 

United States 

EADERSHIP• 

EADERSHIP• 

Canada 

Western 

Europe 

EADERSHIP• 

EADERSHIP• 

Ukraine 

EADERSHIP• 

EADERSHIP• 

Poland 

Russia 

Japan 

EADERSHIP• 

Over 

1,500 

own retail stores 

Mexico 

EADERSHIP• 

Colombia 

EADERSHIP• 

Brazil 

Turkey 

Saudi 

Arabia 

EADERSHIP• 

China 

EADERSHIP• 

EADERSHIP• 

South Korea 

EADERSHIP• 

SDA = Small Domestic Appliances 

CW = Cookware 

SDA + CW 

Mature countries 

Emerging countries

Thierry de La Tour d’Artaise 

In 2012, we once again experienced one of the 

crises in the global economy to which we have become accustomed 

over the past few years. After the crisis of 2008/2009, which stemmed 

from dysfunctions in the banking system, mainly in the United 

States, the crisis we have been enduring since the end of 2011 is 

largely due to the deterioration in the financial situation of many 

countries, particularly in Europe. The resulting budgetary restrictions 

have inevitably had an effect on consumer spending and economic 

activity in Europe, as well as in countries like China, which is heavily 

dependent on its exports to Europe and the United States. 

1 

GOVERNANCE 

Against this economic backdrop, which worsened throughout the 

course of 2012, the decreasing traffic in shops combined with the 

strong growth in internet shopping led to a highly competitive and 

promotional environment, largely fuelled by distribution. The Group 

was naturally affected by this tough context. 

2012, A COMPLEX YEAR 

In this context, following two years of record highs in the growth in 

our sales and results, our 2012 performance can be considered 

respectable. 

The near stability of our sales, which for the first time exceeded 

4 billion euros, as well as the limited decline in our Operating Result 

from Activity, which is still at one of the Group's all time highs, are 

performances that must be kept in perspective – these figures have 

doubled in ten years. This growth reflects the robustness 

of our business model, which is based on innovation, the strength 

of our brands, an in-depth understanding of distribution and a 

strategy with a firm international foundation. 

In 2012, our sales 

exceeded 4 billion euros

2 

GOVERNANCE 

The successful launches of new products such as the intelligent 

multicooker, Cookeo, the Freemove cordless iron and the Ultimate 

ceiling fan in Brazil, as well as the undisputed success of Actifry and 

the Air Force upright vacuum cleaner in countries where we have 

recently started selling them, have been the best responses to the 

price decreases offered by some of our competitors. Other 

innovations will take over and ensure the continued growth of our 

business, relying on the notoriety and the complementary approach 

of our international and regional brands, which have a huge 

presence in all distribution networks all over the world. This is how 

we manage to withstand crisis situations and how we will be able 

to benefit from the recovery when it occurs. 

The strong diversification of our business and our geographical 

coverage has been a key factor in the regularity of our performance 

over the years. In 2012, the drop in the Chinese market was 

therefore compensated by the rise in sales in Russia; the sharp 

decline in Europe was largely offset by the marked recovery 

of business in Brazil and strong growth in Japan and South Korea. 

It is true that we have been coming across some difficulties 

in India. We believe these to be temporary but they nevertheless led 

us not to consolidate the company Maharaja Whiteline and to 

depreciate partially its shares, which has in turn had a negative 

impact on our results. However, we are convinced that we shall 

overcome these problems and take part in the growth in this market 

in which we are present, even though were are a small player for 

the time being. 

Over and above these developments, the Group's financial situation 

has been further strengthened by an ample generation of cash from 

operating activities. Our financing architecture is sound, 

well-structured and diversified, granting us flexibility and 

responsiveness. 

vision. By placing our employees at the heart of the process, we 

have in fact significantly enhanced the cohesion and collaboration 

of our industrial teams. 

2012 was also shaped by the development and widespread 

distribution of a worldwide Code of Ethics, which is THE reference 

text for the Group in terms of behaviours and best practices in our 

relationships with all of our stakeholders. 

At the end of this difficult year, I would like to thank all employees 

for their resolute commitment as well as for the work they have 

accomplished and the efforts they have made, both in overcoming 

adverse economic circumstances and in making advancements 

in the Group’s working process. 

A large number of our employees all over the world have also 

demonstrated their faith in the future of Groupe SEB through their 

extensive participation (almost a third of subscribers in the 

30 countries involved) in the "Horizons 2012" employee 

shareholding program and I would like to take this opportunity to 

thank them wholeheartedly. 

2013, A YEAR OF TRANSITION 

2013 began against a general background that is just as uncertain 

as it was in 2012. In a macroeconomic environment that is still 

tense, we do not anticipate at this stage any marked increase in the 

cost of raw materials and we remain cautious when it comes to 

developments in currency fluctuations. A context of mitigated 

consumer spending looks set to prevail, remaining sluggish in 

Europe and weak in the United States, but with potential for gradual 

improvement in the new economies, in particular in China. 

However, 2012 did not just amount to our economic performance. 

The year should also be looked at from the point of view of the 

inroads and progress which were achieved. 

The introduction of our OPS program for continuously improving the 

competitiveness of our industrial facilities has led to excellent 

results, both at our sites in mature countries as well as those in 

emerging markets (China, Brazil, Colombia). This quest for 

excellence applies throughout the entire value chain, from the 

purchase of raw materials and components to the end of the 

products' lifecycle, with an approach combining productivity and 

health & safety, two areas which are inseparable in a long-term 

Our business model is based 

on innovation, the strength 

of our brands, an in-depth 

understanding of distribution 

and a strategy with a firm 

international foundation

3 

GOVERNANCE 

We have therefore embarked upon 2013 with cautious optimism 

and we are ready to adapt our management approach to the 

unstable economic context and to any changes in the situation. 

In this respect, 2013 will no doubt be a year of transition, which will 

demand a strong ability to adapt, irreproachable processes, targeted 

and smart investments and tight cost control. But at the same time, 

as the industry leader, Groupe SEB is responsible for stimulating the 

market and is striving to achieve this, in particular through a robust 

product plan across all of its markets, supported by reinforced 

advertising resources deployed across diverse media, including the 

increased use of new technologies and the growth in digital. 

This plan is based on several pilot products – the new range of 

steam generators, the Infiny Press juicer, the Optigrill meat grill etc. 

– and on the international expansion of our 2012 successes such 

as the Soup & Co heating blender and the Freemove iron... which 

will help boost the market. 

Our 2013 objectives are to gradually re-establish the organic growth 

in our sales, consolidate our market positions and maintain our 

operating result from activity. 

A MEANINGFUL GENERALIST STRATEGY 

In the medium to long term, I am convinced that our strategy of a 

generalist player in small domestic equipment – a strategy founded 

on growth and competitiveness and based on a solid financial 

structure and a stable shareholder base - will ensure the continued 

and sustainable growth of Groupe SEB. 

For decades now, we have been expanding our sphere of activity 

and we now have an extensive range; we have been responsible for 

a large number of innovations in this sector; we have strengthened 

our portfolio of brands and we have developed a truly global 

presence. We have a powerful industrial base, the dimensions of 

which give us a competitive edge over our competitors; due to its 

widespread geographical coverage, it also guarantees the flexibility 

and proximity that are crucial to better serve our markets. 

With the backing of all these advantages, Groupe SEB has the means 

to reach all consumers around the world, to significantly increase 

its market shares in several mature markets and to continue its rapid 

expansion in emerging countries. 

I do not believe that there will be a long-lasting slowdown in demand 

in our industry, in any country. Small domestic equipment is a 

seller's market, in which growth is and will be led by the capacity 

of companies to anticipate and satisfy the needs of the majority and 

to enhance demand through the launch of innovative and attractive 

products that are correctly targeted in terms of price. 

Thanks to the support of its shareholders and to a collective dynamic 

conveyed by professional and passionate teams, Groupe SEB will 

continue to succeed and grow. No matter what stormy waters we 

must weather, we shall firmly hold on to the helm and remain 

confident in the future. 


Chairman and CEO

4 

GOVERNANCE 

At 31 December 2012, Board members 

held 40.82% of capital and 52.34% 

of voting rights. 

1 2 3 4 5 6 7 

1 

TRISTAN BOITEUX 

Member of the Founder group, member of FÉDÉRACTIVE, aged 50. 

102,932 shares held (of which 99,917 bare-owner shares). 

THIERRY DE LA TOUR D’ARTAISE 

Member of the Founder group, aged 58. 

Chairman and Chief Executive Officer of SEB SA. 

190,801 shares held 

2 

3 

DAMARYS BRAIDA* 

Member of the Founder group, member of VENELLE INVESTISSEMENT, aged 45. 


NORBERT DENTRESSANGLE 

Independent Director, aged 58. 

4,950 shares held. 

4 

5 

6 

7 

FÉDÉRACTIVE 

Member of the Founder group, shareholder investment company, represented 

by its Chairman, Pascal Girardot, aged 57. 10,165,645 shares held 

(of which 10,165,642 usufruct shares). 

HUBERT FÈVRE 



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. 

JACQUES GAIRARD 

Member of the Founder group, member of VENELLE INVESTISSEMENT, aged 73. 

Chairman and Chief Executive Officer of SEB SA from 1990 to 2000. 48,950 shares held. 

* Mandate due to expire at the AGM on 14 May 2013 

** Renewal to be proposed at the AGM on 14 May 2013.

Operating methods 

Representative of all the shareholders, the Board of Directors 

determines Group strategy and makes decisions about Group 

management structures and acquisitions. It also carries out any 

audits or verifications, whenever necessary. The Board of 

Directors comprises 15 members elected for four years, with 

terms of office 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. 

The Board met seven times in 2012, with an attendance rate of 

85.7% 

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 2012, 

with 87.5% 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 four times 

in 2012, with 100% attendance. 

4 members: Jean-Noël Labroue, Chairman, Philippe Lenain, 

Pascal Girardot representing FÉDÉRACTIVE, and Olivier Roclore 

representing VENELLE INVESTISSEMENT. 

5 

GOVERNANCE 

8 9 10 11 12 13 14 

8 

JEAN-NOËL LABROUE 


800 shares held. 

3 new Directors 

To be proposed at the AGM on 14 May 2013. 

9 

10 

11 

12 

13 

PHILIPPE LENAIN 



CÉDRIC LESCURE 



FRÉDÉRIC LESCURE* 



JEAN-DOMINIQUE SENARD* 



VENELLE INVESTISSEMENT 

Member of the Founder group, a family company, 

represented by Olivier Roclore, aged 58. 

7,461,243 shares held (of which 7,443,341 usufruct shares). 

SARAH CHAULEUR 

Head of Communications 

at FÉDÉRACTIVE. 

Member of the Founder group, 

member of FÉDÉRACTIVE, aged 41. 

YSEULYS COSTES 

CEO and founder of 1000mercis 

(advertising and interactive marketing 

agency). 


14 

JÉRÔME WITTLIN 

Member of the Founder group, member of VENELLE INVESTISSEMENT, 

aged 53. 6,338 shares held (of which 330 bare-owner shares). 

LAURE THOMAS 

Interior Designer at Pierre Cotte. 

Member of the Founder group, 

member of VENELLE INVESTISSEMENT, aged 41.

6 

GOVERNANCE 

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 THIERRY DE LA TOUR D’ARTAISE 

Chairman and Chief Executive Officer of SEB SA since 2000, aged 58. 

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. He then spent 4 years working for Coopers & Lybrand in Paris as 

a Manager in the Audit department, before joining Groupe Chargeurs 

(Croisières Paquet),where he occupied various positions in the Finance 

department before being appointed Chief Financial Officer and then Chief 

Executive Officer. 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, Legrand, CIC Lyonnaise de Banque. 

Board member of Supor since January 2008. 

2 JEAN-PIERRE LAC 

Senior Executive Vice-President, Finance since 2002, aged 62. 

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. 

Board member of Supor since January 2008. 

3 STÉPHANE LAFLÈCHE 

Senior Executive Vice-President, Industrial Operations, since 2009, aged 58. 

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

career as a Development Engineer with Dassault Electronique. 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. 

Board member of Supor since March 2010. 

4 BERTRAND NEUSCHWANDER 

Senior Executive Vice-President, Strategy and Business Units, since 2010, 

aged 51. 

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 58. 

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 57. 

A graduate of Audencia, Nantes, he gained experience with Procter & 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. 

Board member of Supor since January 2008.

The Executive Committee 

1 2 3 4 5 6 

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. 

7 

GOVERNANCE 

CHAIRMAN AND CEO 


CONTINENTAL STRUCTURES 

Frédéric Verwaerde 

HUMAN RESOURCES 

Harry Touret 

FINANCE 

Jean-Pierre Lac 

INDUSTRIAL OPERATIONS 

Stéphane Laflèche 

STRATEGY & BUSIN. UNITS 

Bertrand Neuschwander 

FRANCE, BELGIUM 

Gérard Salommez 

COOKWARE 

Patrick Llobregat 

EUROPE 

Luc Gaudemard 

KITCHEN ELECTRICS 

Philippe Crevoisier 

NORTH AMERICA 

Volker Lixfeld 

HOME & PERSONAL CARE 

Cyril Buxtorf 

SOUTH AMERICA 

Fernando Soares 

EURASIA 

Martin Zouhar 

ASIA PACIFIC 

Xavier Desmoutier 

STRATEGY 

Patrick Le Corre 

INNOVATION 

Jean-Christophe Simon 

CHINA 

Vincent Taï 

Executive Committee 

Group Management Board

8 

FUNDAMENTALS

Finance p. 10 

business units p. 16 

International p. 22 

competitiveness p. 28 

human resources p. 34 

9 

FUNDAMENTALS

Change in sales 

in € millions 

3,230 3,176 3,652 3,963 4,060 

10 

FUNDAMENTALS 

2008 2009 2010 2011 2012 

Change in operating 

result from activity 


342 355 438 455 415 

Change in Profit attributable to SEB S.A. 

(Group’s share) 


152 146 220 236 194 

2008 2009 2010* 2011* 2012 

2008 2009 2010* 2011* 2012 

* Restated for the application of IAS 19 R.

“Making sure that 

finance serves 

Group strategy” 

Interview with Jean-Pierre Lac 

Senior Executive Vice-President, Finances

What role does finance play in the major issues 

faced by the Group? 

W 

e are evolving within a growth sector – slightly positive 

growth in mature markets and generally much more 

rapid growth in emerging economies. In addition, the 

small domestic equipment sector is not yet highly 

concentrated. Within this context, the Group must continue 

increasing its size on a global scale and consolidate 

its local positions in order to maintain its competitive 

leadership position. 

How will this growth be financed? 

F 

irst of all, by ensuring that we maintain a solid financial 

structure with healthy ratios. We also need to monitor our 

performance as best as we can. The role of the Finance 

Department is to help the Group Executive Committee 

with this monitoring by supplying its expertise in the 

allocation of resources, as well as ensure the generation 

of cash. That's why we are focusing on profitable growth, 

which will enable us to release the necessary 

resources to ensure the continued development of the 

Group. We are also making sure that we have a sustainable 

financing structure. We have developed a strong 

partnership with seven banks and from now on we will 

also finance the Group from the financial markets. 

This approach has enabled us to diversify our financing 

sources and to extend the maturity of our debt. 

The Group's shareholder structure is largely 

family-based. Is this an advantage? 

T 

oday, 44% of the capital is still held by the founding family 

and this stable shareholder base is fortunate because it 

gives the Group's Management the peace of mind to 

work with a view to the long term. The float is majority 

held by French and foreign institutional investors, with 

whom we strive to maintain regular dialogue and relations 

based on trust, because we want them to be long 

term shareholders.

2012 was marked by a deterioration in the economic environment, 

which led to a slowdown in consumer spending across 

many markets. The serious difficulties encountered in 2011 by 

several European countries (Greece, Spain, Portugal etc.) intensified 

in 2012 and the crisis gradually spread to affect the rest of 

the world at various rates and to various extents – maintenance 

of moderate growth in the United States, slowdown in Brazil, 

wait-and-see attitude of consumers in China, severe recession in 

Ukraine etc. Some encouraging signs did, however, emerge in the 

fourth quarter in several countries. 

11 

FUNDAMENTALS 

In this environment, the small domestic equipment market 

confirmed its resistance, albeit with some significant disparities 

depending on the country – major slowdown in southern Europe 

but relatively firm holding of sales in the north, drop in the market 

in China, sustained growth in Russia, volatility in Brazil etc. The 

difficult economic situation is putting a brake on purchasing and 

is reflected in the attitude of consumers, who are increasingly turning 

to low-price products and promotions. This situation has resulted 

in a rekindling of competition between the various players 

in the sector, a phenomenon amplified by the competition prevailing 

amongst retailers. 

Against this economic background, the Group recorded a slight 

increase in sales at current exchange rates in 2012 and limited 

the decline in its operating result from activity following 2 record 

years. The Group's financial situation remains healthy and robust.

12 

FUNDAMENTALS 

Satisfactory level 

of sales 

In a year marked by a deterioration in the economic environment, 

Groupe SEB reported revenue of €4,060 million in 2012, up 2.4% 

as reported and down 0.9% like-for-like (i.e. at constant exchange rates and 

based on a comparable scope of consolidation). 

This represented a satisfactory performance in a sluggish economic environment, 

particularly considering the very high comparatives in 2010 and 2011 

(when revenue grew 10% and 7% respectively). 

The slight downturn in like-for-like revenue reflects several aspects: 

- A reduction in volumes due to the slowdown in demand in several countries; 

- A small positive impact of the price and product mix, with price rises in several 

markets offset by competition and promotions in others; 

- A perimeter effect of €20 million, including 2 additional months from Imusa 

and 5 additional months for Asia Fan. The Group decided not to consolidate 

its Indian subsidiary, Maharaja Whiteline, mostly because of a lack of reliability 

in the company’s 2012 reporting at year end and the non-material impact of 

the company on the Group’s financial indicators; 

- Highly volatile exchange rates, which led to a €114 million positive currency 

effect that was due to the euro’s decline against most of the Group’s 

operating currencies, particularly the US dollar and the Chinese yuan. 

Generally speaking, sales varied from one region to another in 2012: sharp 

decrease in Europe; Asia Pacific was hit by the slowdown in China; business 

was brisk in North America, Russia and the Middle East; upturn in South 

America towards the end of the year. 

In this contrasted environment, Group revenue declined by 2% in mature 

markets (which accounted for 54% of 2012 revenue) and rose 1% in emerging 

economies (46% of the total). 

A measured decline in operating result from activity 

Operating result from activity amounted to €415 million in 2012, 

a decline of 8.7% from the previous year’s historical high (2011 restated figure), 

which represented a challenging basis of comparison. The decline reflected 

the net impact of several positive and negative factors: 

- A negative volume effect, due to subdued sales and measures to draw down 

inventories; 

- A slightly negative impact from changes in the price and product mix, 

reflecting tougher sales conditions during stock clearance operations. 

- Savings arising from tight control over raw materials procurement processes 

and a limited increase in product outsourcing costs; 

- A steep reduction in operating costs that did not, however, affect spending 

on growth drivers (research and development, advertising and marketing); 

- A very unfavourable currency effect, including the strongly negative impact 

on purchases of gains in the US dollar and the yuan against the euro. 

Lower operating profit and net profit 

Operating profit amounted to €368 million, down 8.6% in relation 

to the restated figure for 2011. This was mainly due to an increase in 

profit sharing (€48 million versus €44 million in 2011) including in particular 

the impact of the higher “forfait social” tax in France and the Group’s matching 

payments under last autumn’s employee shareholder plan. The financial result 

amounted to a net expense of €63 million, including an increase in the financial 

cost of debt – due to an increased average debt in 2012 compared to 2011 – 

and to a provision for impairment of the shares of the Maharaja Whiteline 

company. 

Profit attributable to equity holders of the parent amounted to €194 million, 

compared with €236 million in 2011. 

A healthy financial position 

At 31 December 2012, consolidated equity amounted to 

€1,462 million and net debt at €556 million compared with €673 million one 

year earlier. The decrease was due largely to the high level of cash generated 

from operations and represents the best performance of the past three years. 

These figures confirm Groupe SEB's robust financial position. 

SucceSS of the Second SchuldSchein iSSue 

(private placement regulated by german law) 

Following a first successful transaction in 2008, Groupe SEB has benefited from a favourable window 

of opportunity to repeat the experience. 

In order to respond to significant over subscription, the initially targeted deal size of €100 million was increased to 

€220 million with tranches of 3.5, 5 and 7 years. The transaction was very well received and attracted the interest 

of a significant number of international investors (from Europe, Asia and South America), which reflects the 

presence of Groupe SEB on all continents and the recognition of SEB’s quality name on the debt market. 

The successful implementation of this new Schuldschein has strengthened the structure of Group financing by 

extending debt maturity, diversifying its financing sources and broadening its investor base at an international 

level.

Change in sales 2011-2012 


3,963 –37 +114 +20 4,060 

Change in operating result from activity 


455 –21 –3 +4 +13 –33 0 415 

Reminder 2010/2011 Reminder 2010/2011 

+250 –26 +87 +76 –32 –59 –1 +26 +5 

13 

FUNDAMENTALS 

Organic 

growth 

2011 2012 

effect 

Currency 

Acquisitions 

2011 2012 

Volumes 

Prices & 

Product 

mix 

costs 

Purchasing 

Expenses 

effect 

Currency 

Acquisitions 

Change in net debt 


649 243 131 673 556 

1975 

change in turnover since 

2012 

€4 billion 

€3 billion 

€2 billion 

€1 billion 

IPO 

2008 2009 2010 2011 2012 

1975 

197719791981198319851987198919911993199519971999200120032005200720092011 

2013 

2010 and 2011 data restated for the application of IAS 19 R.

Confidence and commitment 

for a long-term 

shareholder base 

14 

FUNDAMENTALS 

Investing in SEB shares is about committing to a high-performance company supported 

by a rich history and strong values that is firmly oriented towards the future. 

Against the troubled backdrop of 2012, interest in the Group and the SEB 

share has nevertheless been maintained. By increasing the number 

of contacts made and meetings with interested parties, we have been able 

to nurture a rich dialogue based on transparency and openness. This is 

a constructive approach aimed at maintaining a long-term relationship with 

our shareholders based on trust and honesty. 

Regular information for individual 

shareholders 

At the end of 2012, SEB SA had more than 6,200 holders of 

registered shares and 27,000 holders of bearer shares. Holding regular 

meetings with these shareholders to present Group strategy and 

performance and the main issues we face is a key mission of the 

Financial Communications Department. In 2012, we held 3 information 

meetings in Toulouse, Lille and Bordeaux. The Annual General Meeting is also 

an important opportunity to encourage dialogue between the Group's 

Management and its shareholders. 

The Shareholders Department remains a key point of contact for fulfilling 

any requests for information concerning SEB shares, whilst the Securities 

Department manages registered shares. 

The Group also makes available a number of publications to keep interested 

parties up to date with Group news and performance. The website 

www.groupeseb.com is THE portal of reference for keeping informed with 

what's happening and for accessing a wealth of on-line content thanks to 

the ongoing development of dedicated digital software. 

A proactive approach for financial analysts and 

institutional investors 

13 core analysts, 

550 contacts with investors 

Professionals in the finance industry – in particular financial 

analysts and portfolio managers – require specialist and targeted information 

in order to be able to provide opinions and recommendations on the SEB share 

in the case of the former and to make a well-supported investment decision 

in the case of the latter. Groupe SEB therefore endeavours to provide them 

with all the necessary elements for their analysis, in particular through plenary 

information meetings upon publication of results, conference calls (broadcast 

on the Group's corporate and financial website), road shows and ad hoc meetings. 

In 2012, a dialogue based on precision and transparency was maintained 

with more than 420 people from the financial community, which reflects 

the high level of interest from analysts and investors in the SEB share. In order 

to respond to this growing demand, the Group also organised its very first 

Investor Days in Lyon in June 2012, which enabled participants to gain a 

deeper understanding of how Groupe SEB works from an "inside" point of 

view and to enrich their understanding of the Group's strategy.

|Capital 

At 31/12/2012 

|Voting rights 

At 31/12/2012 

Employees 

3.49% 

Treasury shares 

4.09% 

FFP 

5.02% 

Individual French 

shareholders 

7.38% 

French investors 

17.21% 

Foreign shareholders 

19.38% 

FÉDÉRACTIVE 

and ossociates 

23.41% 

VENELLE 

INVESTISSEMENT 

and associates 

20.02% 

Employees 

4.06% 

FFP 

3.51% 

Individual French 

shareholders 

6.39% 

French investors 

13.11% 

Foreign shareholders 

13.63% 

FÉDÉRACTIVE 


31.81% 

VENELLE 

INVESTISSEMENT 


27.49% 

1,000 individual shareholders met in 2012 

15 

FUNDAMENTALS 

75 - 5mm 

75 - 5mm 

Continued recognition 

This approach, developed over the long term, was recognised 

once again by the market and the financial community in 2012, with the 

allocation of several rewards: 

- 3 awards from "Institutional Investor" magazine for the quality of the 

Group’s information: 1st place in the "Best Investor Relations Professional" 

category awarded to Isabelle Posth, 2nd place in "Best CEO" for Thierry 

de La Tour d’Artaise, 3rd place in "Best Investor Relations" for the Group; 

- Silver Trophy for Best Investor Relations awarded to Isabelle Posth at the 

5th Investor Relations Forum, following on from the gold won in 2009 and 

the silver in 2010. 

600,000 visitors 

to www.groupeseb.com 

800 downloads 

of the mobile app 

|Regular growth of dividend 

In € 

3.18 3.13 4.54 4.81 4.01 

0.94 1.04 1.17 1.25 

1.32 

S u s t a i n a b l e D e v e l o p m e n t 

a committed group 

2008 2009 2010 2011 2012 

Net income per share Net dividend 

A net dividend of €1.32 per share, an increase of 5.6%, will 

be proposed to the Annual General Meeting on 14 May 2013. 

The coupon will be detached on 16 May and payment will 

be made on 21 May 2013. 

Testimony 

Martine Léonard, 

President of the Sustainable 

Development Commission 

for the French Society of 

Financial Analysts; Head of 

analysis and SRI management 

at CM-CIC Asset Management 

Socially Responsible Investments (SRI) mean making sustainable 

development a part of financial management. The level and balance 

achieved between financial and non-financial criteria – 

social, environmental and governance – are just as important 

as growth rate when it comes to choosing investments. Groupe 

SEB is a company with a human dimension, which is aware of 

its responsibilities and has always paid attention to these issues. 

The publication of indicators allows the measurement of efforts 

made and the establishment of verifiable objectives, even though 

there are still areas where improvements can be made. The first 

SRI meeting organised in May 2012 was therefore an excellent 

initiative and a fairly rare voluntary approach, which was rich 

in discussion and demonstrated the Group's commitment. It thus 

reinforced my already positive opinion.

16 

FUNDAMENTALS 

High end 

Excellence in the result requires possession of the best tools for a lifetime 

Pleasure is in the performance, the details and the rituals 

Italian refinement express itself in the beauty of simple things 

Middle of 

the range 

Solutions that make cooking easier and produce tasty results 

6 international brands with strong values, 

supporting innovation within the Group 

High-performance solutions that create the necessary serenity for your well-being 

Enhance your talent for a home full of life 

18 additional brands aimed at local or multi-regional 

markets, which are the basis of a multi-segment 

and multi-channel growth strategy. 

France, Belgium: Calor, Seb 

North America: AirBake, Imusa, Mirro, Regal, WearEver 

South America: Arno, Clock, Imusa, Panex, Penedo, Rochedo, 

Samurai, T-fal, Umco 

Eurasia and Asia-Pacific: Asia Vina, Maharaja Whiteline, Supor, T-fal

“Innovating to generate 

sustainable and profitable 

growth” 

Interview with 

Bertrand Neuschwander, 

Senior Executive 

Vice-President, Strategy 

& Business Units

Why is innovation at the heart of the Group's 

business model? 

T 

he virtuous circle of our business model is driven by innovation. 

It is innovation that expands markets by 

fulfilling new consumer requirements; it allows to avoid 

an on-going trend of lower prices by offering products 

with a high added value. It thus protects our margins, 

thereby enabling us to further invest and innovate. 

How do you maintain this virtuous circle? 

T 

he consumer is, and will remain, at the heart of our 

business model. Our innovations only make sense if they 

are useful in fulfilling consumers' needs and wishes. 

We must therefore develop an acute understanding 

of consumer expectations and how these evolve. 

In our business, where specific features of local markets 

and the cultural dimension play a key role, this is a major 

concern and one of Groupe SEB's strengths. 

This capacity for staying in tune with the world relies on 

the drive and passion of our teams, at every stage in the 

process: R&D, Marketing, Design, Production; but also 

the technological Centres of Expertise, which are in 

charge of defining and implementing the "core technologies"; 

and not forgetting of course our sales teams, who 

effectively "educate" about innovation. 

Finally, since the field of exploration is vast, we have been 

conducting an open innovation policy with a number of 

research and development partnerships, both with public 

research laboratories and with other companies. This 

is also the idea behind setting up SEB Alliance, our 

investment fund in innovative start-ups. 

What about your brands? 

W 

ithout the trust of our consumers, innovation would 

struggle to flourish. Thanks to their values, expertise and 

reputation, our brands support this relationship built on 

trust. They therefore represent an essential link in the 

chain of our innovation policy and its development.

A pioneer accustomed to leading the way, the Group has based 

its strategy on innovation. Creating value, innovation drives our 

growth and is the key to our success with consumers all over 

the world. It also guarantees us the power to stand out from the 

competition. 

17 

FUNDAMENTALS 

Our mission is to deliver everyday solutions with constant 

improvements in performance and adapted to the needs and 

desires of our consumers, when it comes to results, quality, safety, 

pleasure, simplicity and now also connectivity. That's why the 

Group strives to understand consumers' multiple expectations, 

some of which remain the same through-out the world but most 

of which are linked with the specific cultural features of local 

markets. Our strength comes from our capacity to innovate for 

each market. 

Innovation takes many different forms. It gains momentum from 

the trilogy of technology, design and strategic marketing. Moreover, 

the digital world is opening up new perspectives – an even 

more precise understanding of consumer expectations and usage, 

close communications with user communities and new proposals 

for services and ingredients. 

In order to explore these new horizons, the Group must remain 

curious, continue listening to the hopes and dreams of its consumers 

and stay connected with its environment. To achieve this, 

it has opted for open innovation based on partnerships, which 

enables the Group to enrich its sphere of understanding on a 

permanent basis and to expand its field of investigation.

Business units 

18 

FUNDAMENTALS 

Whether global or local, brands are at the very heart of the trust we have built up, both with 

our consumers all over the world and with our retailers. Brands provide a solid and coherent basis 

for the growth of the Group and its products, and now also provide a basis for today's new order – 

digital communications. 

A leading global and 

local portfolio With 24 brands, the Group has the most powerful portfolio in its 

sector. Its 6 international brands – All-Clad, Krups, Lagostina, 

Moulinex, Rowenta and Tefal – all have a strong identity and a distinct positioning 

nurtured by values that are recognised and appreciated by consumers 

all over the world. The worldwide leader, the Group also aims to develop and 

consolidate its local positions, by capitalising on 18 brands that have a very 

strong image in their markets and rely on the same platforms as global 

brands (vision, values, positioning). The acquisitions made over the past few 

years have in fact enriched our portfolio of brands, in particular in countries 

where the Group previously had a weak presence or was not very 

diversified. 

A multi-segment strategy 

The complementary nature of these brands enables the Group 

to conduct a coherent product development and distribution policy and 

encourages the segmentation of the product offer. In fact the Group's aim 

is to occupy a broad territory, which extends from a tactical presence 

at entry-range level to a strong and structured mid-range positioning and a 

targeted positioning in the "premium" sector. 

The generalist global brands provide the ideal "bridge heads" for introducing 

one or more product families to the market under a brand name that is 

already recognised in a category. For example, in order to accelerate its 

growth, Tefal relies on its strong brand image in cookware to promote 

the launch of families of small electrical appliances, especially in kitchen 

electrics and linen care. Rowenta bases its growth on the worlds of home 

care, linen care and personal care. Another flagship brand, Moulinex, which 

is firmly oriented towards food preparation, also finds a strong legitimacy in 

other areas of cooking, such as beverage preparation and electrical 

cooking. 

open food SyStem, 

the future iS invented together 

Initiated and coordinated by Groupe SEB, Open Food System is a collaborative research 

programme, bringing together 26 partners, half of which are involved in human sciences. 

The objective of this project, which combines hardware and software, is to devise and develop 

third generation solutions for the kitchen. In other words, to be able to provide tomorrow's 

consumers with more than just appliances, offering them complete solutions instead. This process 

will take place through an intelligent digital platform, combining all the content and services 

required by consumers in order to facilitate and improve their cooking on a daily basis. Approved 

by 6 competitive clusters in France, Open Food System benefits from state financing as part 

of the "Investments for the future" (Investissements d’avenir) policy.

19 

FUNDAMENTALS 

Communications in line with the times 

Communications are a decisive vector for the Group when it 

comes to supporting our positions and boosting our business activity. 

They must also contend with a rapidly changing environment. In fact, 

consumer habits are changing and the internet has become an essential tool, 

as well as a sphere of influence for consumers, throughout the product 

purchasing process. 

From now on, the Group will be adopting a 360° approach in its communications 

strategy, involving not only traditional mass media such as TV, press 

and radio, but also new media such as the internet. The alignment of the 

various components in a campaign (press relations, packaging, digital, video 

content, TV ads, POS etc.) is becoming vital in order to ensure the success 

of a launch. In 2012, Cookeo benefited from a "drive to web" approach, 

a marketing technique inviting TV viewers watching an advert to visit the 

product's website. Another example is the Freemove iron. Thanks to a 

customisable viral video, the Group created a "buzz" around the product 

on the internet, which was then followed up at points of sale with special 

promotional campaigns. 

1953 

The "Super Cocotte" 

and its recipe book 

2012 

Clipso Chrono and 

its mobile app 

Investments 

in marketing and 

advertising: eur 277 million

Business units 

20 

FUNDAMENTALS 

Groupe SEB's mission is to bring new possibilities and functions to life for its consumers and to make the 

use of its products easier for them. As leader in its industry, it also needs to develop the market potential 

of small domestic equipment and to make its products stand out thanks to innovation. 

Innovation at all 

different levels The Group's solid positions in its various markets rely on 

a multi-specialist range covering three major product families 

present in consumers’ daily lives - cookware, kitchen electrics and home and 

personal care. In each of these product families, the Group enriches its 

approach and positioning in order to consolidate its leadership. To achieve 

this, the Group relies on breakthrough innovations, which generate value and 

allow it to maintain its lead over the competition. This approach also involves 

promoting and regularly renewing its existing ranges and expanding its field 

of activity to include new categories. In this way, 2012 saw the successful 

launch by Tefal of a new range of cookware with a ceramic coating in France 

and Belgium, thereby developing its sphere of activity and positioning itself 

as a specialist in various materials and coatings. Similarly, the Group opened 

up a new channel in linen care and boosted the market with the launch of 

the cordless Freemove iron. 

338 new products 

and models launched in 2012 

An organisation oriented towards innovation 

The Group has set up a collaborative organisation system in 

order to support innovation. By bringing together its Strategic Marketing, 

Research, Development and Design teams, dialogue and exchange is 

encouraged right from the outset of projects. People work together to 

combine their expertise in terms of understanding consumers, product 

usage, technologies and ergonomics and to develop the entire product design 

cycle from manufacturing to final usage, or even till the end of the product 

lifecycle. Three Innovation Centres – Intelligent Systems, Energy and New 

Materials – have also been set up to develop Group-wide expertise that 

can be applied to all of the Group's requirements. These Research and 

Development teams constantly monitor new technological developments and 

they support the Business Units, thereby maintaining a close link with the 

principles of product usage. In order to supplement its fields of 

investigation, the Group has identified 5 major issues – the ageing 

population, connected products, energy, sustainable development and the 

preservation of health/beauty/well-being. 

In all areas, the Group has a very dynamic innovation community, which 

shares information and resources in particular through a collaborative 

Intranet site entitled "What if". 

cookeo a high-tech project managed 

through teamwork 

Cookeo is a revolutionary intelligent multifunction cooker. It was developed by research teams, who 

adapted a technology normally used in telecommunications – matrix screens – for use in an electrical 

appliance. Following an initial trial on an oven, the project then moved on to focus on an electrical pressure 

cooker. The main technological challenge was to create an effective interface to guide consumers as 

they make recipes. Another issue was to develop an opening and locking system that could be operated by 

an ergonomic hand movement. Design was thus a key element in the development of this product. Capitalising 

on the expertise of internal teams, combined with that of selected suppliers, and using recognised 

construction techniques, the Group has brought high technology to consumers.

An innovation community comprising 

more than 1,200 people 

21 

FUNDAMENTALS 

Going one step further with Open Innovation 

Confronted with a very wide field of investigation, which 

sometimes extends well beyond small domestic equipment, the Group 

decided several years ago to start using external resources as part of an 

open innovation approach. Since 2007, there have been more and more 

collaborative projects, in particular with universities, specialised institutes 

and private companies. This year, the Group was involved in setting up the 

Centre for European Nutrition and Health (CENS), which unites top experts 

in the fields of food and health. In addition, the SEB Alliance investment fund, 

launched in 2011, has taken on two new initiatives in 2012. It has become 

involved in Technocom 2, a fund dedicated to financing new digital 

businesses, and has also provided support for a start-up company, 

ChefJérôme, which has developed a system for analysing recipes, extracting 

a shopping list and transferring this list straight to an e-commerce site. 

Best Intellectual Property 

department, awarded by the 

International General Counsel 

Awards 2012 


energy-efficient fanS 

Fans are the top small domestic equipment category in terms of volume 

in South-East Asia. In Vietnam, Asia Fan has developed a new motor, 

which uses 30% less energy whilst maintaining the same performance. 

Almost 500,000 fans will be fitted with this new motor from 2013 

onwards. A similar initiative has begun in Brazil, with a ceiling fan 

using 35% less energy: Ultimate Eco Energy. This product, sold under 

the local brand Arno, is also 35% lighter through the use of considerably 

less iron, steel or even aluminium. An extension of the project to cover 

a larger range of products is currently under consideration. 

127 patents registered in 2012, 

100 models , 288 Soleau 

preliminary patent registrations

|Breakdown of sales 

by geographical area 

(reminder of 2011 figures) 

Central Europe, 

Russia and other 18% 

(18%) 

Asia Pacific 24% 

(23%) 

South America 11% 

(11%) 

France 17% 

(18%) 

Other Western European 

countries 19% 

(20%) 

North America 11% 

(10%) 

22 

FUNDAMENTALS 

Some examples: 

Brazil: #1 in semi-automatic washing machines 

#1 in fans 

China: #1 in woks 

#2 in rice cookers 

France : #1 in cookware 

Italy: Rowenta brand #1 in small electrical appliances 

75 - 5mm 

Japan: #1 in kettles 

South Korea: #1 in steam irons 

Russia: #1 in hair styling tools 

Thailand: #3 in blenders 

United Kingdom: #1 in deep fryers 

Poland: #2 in espresso machines 

Canada : #1 in steam generators

“Making profound changes 

in distribution part of our 

model for international 

expansion” 


Frédéric Verwaerde, 

Senior Executive Vice-President, 

Continental Structures

What are the Group's objectives 

in terms of international expansion? 

O 

ur priority is two-fold. We want to make the most of sustained 

growth rates in emerging markets, by offering a 

range of products that is adapted to the expectations of 

consumers who still have a low level of equipment. At the 

same time, we plan to strengthen our positions in mature 

markets for our various product families. In Europe, this 

is particularly the case in Germany, Great Britain and 

Italy, where it is crucial for our profitability to reach a 

critical size. 

How does your distribution policy help 

you with this approach? 

D 

istribution is a key factor in our strategy because it gives us 

access to end consumers. Our approach is firmly based on 

multi-channel distribution and relies on the complementary 

positioning and richness of our brands; it therefore aims to 

provide the best response to multiple consumer expectations. 

We have also successfully developed our business 

through our own retail stores, with a presence in almost 

50 countries worldwide. 

How are you dealing with the ongoing 

development of internet sales? 

W 

e are sticking with our business model, which is to create 

value by innovating and to protect this value by developing 

a loyal partnership with our retailers. Just as we did a few 

years ago with mass retail, we are now working with new 

internet shopping partners by being proactive and adapting 

our methods to fulfil their specific requirements - 

exclusivity for some launches, dedicated content to 

promote our products etc. We are also using the enormous 

capacity of the internet in terms of targeting, 

in order to test some of our innovations at regional level 

before rolling them out across the entire market.

Currently present in almost 150 countries worldwide, the 

Group is pursuing its strategy of long-term international expansion 

and is consolidating its leadership by combining a global vision 

with a local approach. Its global profile has been given a 

considerable boost over recent years, with several major 

acquisitions in the new economies, particularly in Asia and South 

America. The Group has been continuing its deployment in China 

and South-East Asia since it acquired a majority stake in the 

Chinese company Supor, with an extended product range and a 

growing number of categories. As for mature markets, in which 

demand for products with high added value certainly isn't waning, 

the Group continues to enjoy a growth platform based on renewal 

and increasing demand for premium products. 

23 

FUNDAMENTALS 

The local presence of our staff and sales teams, as close as 

possible to consumers, plays a key role in the development of a 

product offer that is both universal and targeted. It provides us 

with an in-depth understanding of local issues and the specific 

features of each market and encourages a close relationship with 

international and regional retailers - partners who are crucial in 

the implementation of our strategy. The Group also relies on the 

roll-out of its own network of stores, especially in markets where 

modern distribution networks are less structured. 

It is the richness of this international approach that enables us 

to fulfil all requirements and to guarantee the satisfaction of our 

retail clients and our end consumers.

24 

FUNDAMENTALS 

Distribution plays a key role in the growth and performance of the Group. The emergence of new players 

is increasing competition between distribution channels and intensifying the demands made 

on manufacturers. The Group's teams are constantly developing and adapting their sales and marketing 

approaches to stay in tune with consumer expectations and provide the best service to its retailers. 

A multi-channel approach 

In order to reach the highest possible number of consumers, the 

Group has a multi-channel distribution strategy, covering small 

traditional retailers as well as mass retail, specialist stores and online sales. 

The Group constantly strives to fulfil customers' expectations by seeking the 

best coherence between brands, product ranges and distribution channels. 

The Group therefore relies on a highly structured and clearly segmented 

distribution policy in mature or "emerged" markets. This involves supplying a 

diverse range of products, from entry-level ranges in supermarkets to highend 

products for highly specialised stores. In emerging countries, agility is vital 

because it enables the Group to fulfil the requirements of a very large range of 

existing networks - from street stalls to hypermarkets - and to support the 

development of new consumer categories wanting access to modern 

equipment. 

Towards new distribution models 

Increasingly influenced by the digital world, consumer behaviour 

is changing. Discussion forums, price comparison websites, the possibility 

of ordering online with home delivery and the increasing number of sources of 

information are just some of the elements that have encouraged the recent 

changes in the retail environment. Mass retail networks are receding, whilst 

specialists and alternative distribution is growing, particularly via the Internet. 

Traditional retailers with "physical" ("bricks and mortar") points of sale are 

evolving towards the new "click and mortar" model – materialised by the 

development of specific e-commerce websites, sometimes combined with a 

collection point. At the same time, the rising power of pure players – retail brands 

working solely through the internet - is being confirmed. Amazon is currently 

the Group's 10th largest customer and the 9th largest retailer of kitchen electrics 

products in the world. These changes are shaking up the sales and marketing 

environment, leading to the development of new approaches and opportunities, 

particularly when it comes to the targeted launch of innovations or specific 

ranges. 

Groupe Retail, a bold strategy 

Since 2007, the Group has also been developing its own network 

of stores in addition to other distribution networks. It is the only manufacturer 

in this industry to have its own international network, which actively 

contributes to its direct visibility and its profits. 

In mature countries, it relies in particular on its Home & Cook clearance 

stores, which are located in outlet villages, encouraging the optimisation of 

stocks through the sale of discontinued products. In emerging countries, the 

Group is developing a network of stores in town centres and shopping malls, 

which are close to new pools of consumers and which sell Group brands in 

an environment dedicated to small domestic equipment: Home & Cook, Asia 

Fan in Vietnam, Tefal Shop in Turkey, Supor Lifestores in China and Imusa 

Home & Cook in Colombia. Today, this network covers close to 50 countries 

and more than 1,500 stores, over 1,000 of which are in China.

25 

FUNDAMENTALS 

As close as possible to the act of purchase 

The consumer has always been the main target in the Group's 

product communications strategy. These days, we make a distinction 

between buyers and consumers and we are developing an approach oriented 

towards buyers at the point of sale, supporting them as they make their 

choices and decisions to buy. In this context, signs on the shelves, layout 

and clear labelling are important sales aids. 

With this in mind and in partnership with retailers, the Group aims to develop 

more attractive and convincing displays, which take into account consumer 

behaviour (average time spent in the shop, planned or spontaneous 

purchase, main questions or concerns etc.). In the field of cookware, for 

example, certain issues such as the innocuousness of the coating, durability, 

induction compatibility and novelty have been identified as crucial in order 

to captivate the attention and interest of shoppers. 

83% of group stores 

under franchise 

Every year, 

30 million people 

enter one of the 

Group's stores. 

continued growth in retailing 

When setting up its first Home & Cook stores in Russia, the 

Group selected locations in shopping centres attracting 

plenty of visitors. Shopping malls are very popular with 

Russian consumers who like to while away their time 

sheltered from the bad weather. The first store opened its 

doors in summer 2012 in the Bum shopping centre in 

Moscow. By the end of 2012, three stores were open. In the 

medium term, the network is due to cover more than 

50 stores nationwide by 2014. Another new destination for 

Home & Cook is Dubai, where the first store opened its doors 

at the beginning of 2013.

expansion 

26 

FUNDAMENTALS 

With a presence in 150 countries worldwide, the Group has a long-term vision when it comes 

to international expansion, combining a global approach with a local presence. Keeping a watchful eye 

on the opportunities provided by emerging countries, it is also continuing to strengthen its positions 

in mature markets. 

New areas of growth 

46% of the Group's sales are currently in emerging countries. Three quarters 

of its growth come from these new economies, in particular from Asia. Since 

the 1990s, the Group has followed a policy of dynamic expansion in markets 

with a sustained growth rate: Mexico, Turkey, Russia, Brazil, China, Colombia 

etc. It is also continuing to strengthen its positions in mature countries. Its 

well-balanced international expansion strategy combines external growth 

through targeted acquisitions with organic growth through the setting up of 

sales subsidiaries. 

2001 

Breakdown of sales over 10 years, mature/ 

emerging markets 

2012 

+5% +2% -2% 

Four transactions that took place in 2011 – the acquisition of 

Imusa in Colombia, the acquisition of a majority stake in Asia Fan in Vietnam, 

the Group's increased participation in the Chinese company Supor (now up 

to 71%) and the takeover of Maharaja Whiteline in India – made a significant 

contribution to boosting the Group's presence in South America and Asia. 

At the end of 2012, the Group also created a joint venture in Egypt, Groupe 

SEB Egypt, with its long-term distributor. These new territories offer highly 

promising growth potential thanks to the emergence of a middle class, 

which, though still poorly equipped, has increasing purchasing power and is 

willing to buy equipment. In addition, urbanisation is progressing in these 

areas and modern distribution networks are developing, changing 

lifestyles and consumer habits. For the Group, the acquisition of locally 

recognised companies also provides the opportunity to enrich its product 

portfolio and its expertise by taking into account the specific features of local 

cultures. In China, for example, the acquisition of Supor has enabled the 

Group to benefit from a high level of expertise in rice cookers, which it has 

now transferred to markets with high potential such as Brazil and Colombia. 

In this zone, the specific and recognised expertise of Arno in blenders, which 

is a key piece of equipment in these markets, represents a major opportunity 

for enriching the Group's ranges all over the world, including in Asia. 

79% 

78% 

77% 

74% 

71% 

69% 

66% 

61% 

63% 

58% 

55% 

54% 

Establishing ourselves through innovation 

and service 

21% 

2001 

22% 

2002 

23% 

2003 

26% 

2004 

29% 

2005 

31% 

2006 

34% 

2007 

39% 

2008 

+11% +14% +1% 

37% 42% 45% 

2009 2010 2011 

46% 

2012 

In mature markets, where the level of existing small domestic 

equipment in households is now high, innovative products still hold 

very strong appeal. In these countries, in which the Group is already wellestablished, 

it aims to consolidate its local market share and add value to it. 

To achieve this, the Group leverages several strengths. Innovation is one of 

Emerging Mature Organic sales trend

27 

FUNDAMENTALS 

them of course, with the launch of breakthrough products or with a high added 

value, which also provide a response to consumers’ heightened awareness of 

health/environmental issues and responsible purchasing. Service is another 

lever, with the Group offering more and more products associating the appliance 

with consumables (pod coffee, sachets of mix for yoghurt makers or 

bread machines, haircare products etc.), which are mostly developed through 

partnerships. Finally, the Group is also boosting its growth by expanding its 

sphere of activity and becoming involved in new segments such as Intense 

Pulsed Light hair removal, home-made cosmetics etc. 

loyalty programmeS generating 

growth 

For several years now, loyalty programmes have been becoming increasingly 

widespread all over the world. Generally the result of a close 

partnership between a retailer and a supplier, these programmes 

share a simple basic principle - consumers collect loyalty points from 

the store, which ultimately give them the right to a substantial 

reduction on a product from the proposed range. The Group regularly 

participates in this type of promotional campaign, proposing a range 

of cookware or small electrical appliances according to the requirements 

of the stores: Casino or Auchan in France, Soriana in Mexico, 

Metro in Russia, Makro in Poland, IGA in Australia, Falabella in Chile, 

Esselunga in Italy etc. These campaigns have enabled the Group to 

increase its business activity in 2012, whilst also boosting the visibility 

and image of its brands. 


imuSa recycleS cookware at their end-of-life 

Since 2009, the Colombian brand Imusa has been regularly organising 

"Cambiatón*" events with its retailers. Supported by a major 

communications campaign, this type of event involves collecting used 

cookware for recycling, giving it a second life. Consumers are encouraged 

to leave their old pots and pans in bins installed in the store and 

in exchange they receive money-off coupons giving them approximately 

30% off the purchase of an Imusa product. Since the beginning of 

the project, 259 tonnes of unprocessed materials have been collected 

by a social cooperative, containing 180 tonnes of food-grade aluminium, 

which has been recycled by the brand. This good cause has also 

led to the sale of 120,000 Imusa products through the use of coupons. 

* From the Spanish "cambiar" meaning "to exchange"

28 

FUNDAMENTALS 

29 factories worldwide: 

• 12 in Europe, including 10 in France, 1 in Germany, 1 in Italy 

• 3 in Brazil and 3 in Colombia 

• 5 in China and 3 in Vietnam 

• 1 in Russia and 1 in India 

• 1 in the United States 

|Localisation of the production 

of sales 2012 

Outsourcing 

27% 

Others 

2% 

South America 

9% 

Europe 

36% 

Asia 

26%

“Developing long-term 

competitiveness for 

production sites and 

purchases” 


Stéphane LAFLECHE, 

Senior Executive 

Vice-President, Industrial 

Operations

The Group is unique in that it manufactures 

70% of the products it sells. What are 

the implications of this choice? 

T 

he Group has a strong internal production tool, which is 

versatile, competitive and atypical for our industry. 

Our role is to maintain this strength and enhance the 

performance of our facilities to ensure long-term success. 

Our projects – whether they are about permanently 

improving our productivity, creating common and shared 

performance indicators or standardising our processes – 

are leading us in this direction. 

Is a genuine industrial community 

being brought about by these projects? 

W 

e are actually trying to encourage internal initiatives and 

the exchange of good practices by generalising our 

programme for continuously improving industrial performance, 

OPS*. We count on everyone’s involvement to 

permanently improve the quality of our products and 

optimise our costs and resources, whilst guaranteeing the 

respect of our environment and understanding for our 

employees. Our main priority for 2012 was to continue with 

the progress we have already made in terms of safety. 

How can the Group remain agile in an industry 

marked by shorter product lifecycle inventory 

drawdowns in retail? 

Agility is crucial and plays a role at a very early stage in 

the process. First of all, it is essential that we establish 

precise sales forecast, in order to anticipate production 

and optimise supply chain. Our internal industrial tool 

provides us with a competitive level of flexibility compared 

with competitors, who are mostly dependent on 

suppliers based far away. An organisation based on production 

platforms with late product differentiation 

enables us to serve our markets efficiently and 

according to their specific needs. Finally, we permanently 

enhance our methods to further improve our ability to 

react with our current suppliers. 

*Operation Performance SEB

The Group manufactures internally 70% of the products it 

sells. This industrial base, which received a further boost in 2010 

and 2011 through acquisitions in Colombia, Vietnam and India 

and from increased capacity in China, is a versatile and highperformance 

system serving our markets. Our European factories 

have become genuine specialist centres of expertise, which are 

in a position to supply our products all over the world. Our international 

factories produce multiple products and are competitive 

and close to local markets in emerging economies, which are 

generally expanding rapidly. Finally, the Group also procures 

components and basic products from sub-contractors and these 

supplies are managed in a selective and controlled way. 

29 

FUNDAMENTALS 

In this highly competitive industry of ours, the pertinence of our 

industrial strategy is a key element of our competitiveness. 

We are therefore working on permanently improving the performance 

of our factories, in terms of productivity, quality and safety. 

We are developing a group-wide approach, by striving to harmonise 

and simplify our processes and our indicators and by encouraging 

dialogue and the exchange of good practices between our 

various sites. Our continuous improvement policy also applies to 

the entire value chain concerning production, whether it is a matter 

of optimising our purchases of raw materials and components, 

rationalising our organisation of logistics or harmonising our IT 

systems. In 2012, our teams' commitment and their active involvement 

in the various initiatives across our sites led to real progress 

in all of these areas, which is vital if we are to continue 

improving our competitiveness. We also apply this same meticulous 

approach to our main suppliers, in order to ensure the control 

of all of our products.

30 

FUNDAMENTALS 

By adopting an unusual industrial strategy prioritising manufacturing at its own factories, 

the Group has made a bold choice in favour of quality control and product availability. 

Industrial expertise 

With 29 factories, 10 of which are located in France, the Group 

has industrial facilities that are unique in its sector. In Europe, 

especially in France, and in the United States, the competitiveness of the 

Group's factories relies on a long-standing tradition of industrial expertise, 

which enables us to develop innovative industrial processes suitable for the 

profitable manufacturing of products with a high added value. This is the 

case, for example, at Is-sur-Tille in France, the home of Actifry. The continuous 

improvement of our industrial productivity and the increased automation 

of certain processes will also allow us to achieve the economies of scale 

necessary to guarantee the lasting success of these centres of expertise. 

With almost 45 million pots and pans manufactured each year, the cookware 

factory at Rumilly is a site with international influence. In the other countries 

worldwide in which the Group is present, facilities that are close to pools of 

consumers allow it to serve local markets in the best possible way and to 

offer products at competitive prices. This is particularly the case in China, 

Vietnam, Colombia and Brazil. 

1923 

Calor produces 700 irons/day 

in Lyon 

2012 

25,000 irons and generators/day 

in Pont Evêque 

Group-wide programmes 

In order to maintain the competitiveness of our facilities and to 

improve our industrial performance, the Group is now working on a number 

of structuring projects. The Product Cost Optimisation project was launched 

in 2011. Its objective is to gain a deeper understanding of the lifecycle of 

Group products by using methods to analyse value. This procedure, which 

is being carried out by Marketing, Development, Production and Purchasing 

teams, is enabling us to make significant savings. In 2012, around ten PCO 

projects were successfully carried out. Another major project is the SEB 

Operation Performance programme, which has enabled us to develop an 

industrial performance reference system for the Group. These indicators have 

now been extended to cover the entire industrial scope of the Group and 

the system gets the entire organisation involved, in particular thanks to a 

large-scale training programme. The results obtained are then analysed 

during industrial management meetings, which unite all the functions 

concerned (Production, Purchasing, Quality Control, IT and Logistics). Finally, 

Safety in SEB is another global project that was launched in 2012. The 

objective of this project is to modify conducts to reduce the number of 

accidents at Group factories. 

cmm or good Shared practiceS 

1956 

Tefal produces 100 items/day 

in Sarcelles 

2012 

168,000 cookware items/day 

in Rumilly 

The Core Model Manufacturing project is testament to the Group's 

commitment towards standardising its product management 

processes. The objective of this project is to identify the best practices 

within the various factories and on this basis to construct a "core" 

production management IT system for the Group's factories. In order 

to ensure that this approach is suited to user requirements, the project 

is being handled by a mixed team of specialists in their sectors 

(Production, Purchasing, Quality Control) and experts from the IT 

department.

Creation of a 4th assembly line for steam 

generators at Pont Evêque, France 

31 

FUNDAMENTALS 

A close partnership with major suppliers 

For some very commonplace products or for those with a high 

added value, Groupe SEB has chosen to use the services of carefully selected 

sub-contractors. In 2012, sourcing represented 27% of the products sold. 

With its 15 main suppliers, who account for approximately 65% of our 

purchases of finished products, the Group has developed methods 

comparable with those used internally to guarantee a high level of quality 

for products, processes, schedules and logistics. The presence of an industrial 

team based in Hong Kong, Seb Asia, which manages purchases from 

Asian suppliers and logistics, as well as specific product projects, is also a 

major asset in terms of managing the purchase of finished products in Asia. 


74% of the production 

at the Rumilly factory 

are exported 

In France, 

the Quality Improvement Plan has 

enabled us to reduce the return 

rate for products by a third 

iS-Sur-tille cutS itS energy 

conSumption 

"The best energy is that which hasn’t been used or has been 

recovered." With this maxim in mind, the French team 

at Is-sur-Tille (Burgundy) has been working on a heat 

recovery project. This initiative involves the safe transfer 

of calories emitted by the industrial activity at the site, 

in particular through repetitive tests on ovens and other 

test products, to an adjacent building fitted with 5 electrical 

heaters. Since then, none of these heaters has been 

needed and the electricity consumption for heating the 

building has been divided by 22! This principle is currently 

being rolled out to other parts of the factory.

32 

FUNDAMENTALS 

Serving our customers efficiently and taking their constraints into account is a key factor in the Group's 

success. Our response to customer requirements begins well upstream from production and 

materialises within at our factories and beyond, throughout the supply chain and after-sales service. 

Anticipating and 

optimising production for 

greater responsiveness 

Logistical issues and product availability in shops are a major 

preoccupation for our customers which the growth in internet 

sales has made even sharper. The Group therefore has implemented an 

efficient and structured industrial and logistical policy, which aims to maintain 

just the right balance between the requirements of our subsidiaries all over 

the world, our customers' expectations and the strict control of our stocks. 

The products manufactured at our own sites are complex and are subject to 

various factors - procurement of parts and sub-assemblies from suppliers, 

transit between production sites and consumer locations that are often 

far away, the limited visibility of retailers. At an industrial level, these 

constraints require accurate sales forecasts to enable precise production 

planning. To achieve this, sales and marketing teams work closely together 

to anticipate requirements upstream in the process. The effectiveness of the 

value chain is also guaranteed by standardising components and optimising 

the basic technical elements of products to boost responsiveness. The 

flexibility of our industrial facilities enables the Group to share our production 

capacities between several markets and to react rapidly to any changes 

in demand. 

Constructing an efficient logistics network 

The Group has a structured network of warehouses, which 

ensures unpredictable changes in demand can be dealt with more flexibly 

and rapidly. The Group aims to pool stock for "similar" markets at joint 

regional platforms. This centralisation allows us to manage considerable 

stocks at a single location – instead of several smaller stocks spread out – 

thereby increasing product availability, whilst also improving our flexibility 

to deal with customer demands and reducing operating costs. This organisation 

also encourages the late differentiation and personalisation of 

products in the warehouses, by adding user manuals in the destination 

language, samples or specific promotions, for example, at the last minute. 

In 2012, the Group finalised the setting up of a single logistics platform in 

Germany to serve the various countries in northern Europe. 

The Group is also particularly attentive to the environmental impact of the 

transport we use. The optimisation of lorry loads through the use of adapted 

packaging and the increased use of more environmentally-friendly transport 

options are part of the process for continuously reducing our carbon 

footprint. 

Between 2010 and 2012, 

online sales of accessories 

and spare parts 

increased by 250% 

2008 

the average yearly inventory 

ratio dropped by 15% 

2012

33 

FUNDAMENTALS 

After-sales and repair service, a responsible 

approach 

For Groupe SEB, supporting our products throughout their entire 

lifecycle is an integral part of ensuring the satisfaction of our customers 

and consumers, as well as a key factor when it comes to the continuous 

improvement of quality. Thanks to a dedicated logistics platform for 

accessories and spare parts, the Group has adopted an original policy, which 

encourages repair rather than exchange. In order to implement this policy 

efficiently, it relies on the centralised management of spare parts for a 

widespread network of approved repair centres and for direct online sales. 

This enables the Group to gain a global overview of requirements, helping 

us to improve quality. 

At the same time, customer welcome centres monitor complaints very 

carefully to improve service and control costs. 

Supporting change 

The Group is constantly changing, with new projects, new 

perimeters, new developments etc. IT systems play an increasingly important 

role in supporting these changes, either by modernising the software 

used or by helping to harmonise working methods for the entire Group 

to encourage internal collaboration, improve efficiency and reduce costs. 

At the same time, in this era of the digital revolution, IT teams are playing 

an active role in innovation and are getting more involved at the start of the 

process for designing new products and solutions. 


reSponSible purchaSing: 

progreSSing from the charter 

to action 

"Groupe SEB called upon the services of the SGS Group 

to enhance the social and environmental audits of its 

suppliers all over the world. Initially, we raised awareness 

of this approach amongst Group buyers through a 

training programme based on the Groupe SEB responsible 

Purchasing Charter. These teams in the field, who 

will monitor the implementation of action plans established 

as a result of our audits, proved to be highly motivated 

during these training sessions. In China, some 

suppliers also followed the same training programme. 

We began our audits at the end of 2012 in China, Hungary, 

Tunisia and India. Groupe SEB's approach to responsible 

Purchasing is very comprehensive and well 

thought out. I hope that the final results will be positive." 

Testimony 

Camille Querleu, 

France Social Responsibility 

Solutions Manager, SGS

Code of Ethics 

34 

FUNDAMENTALS 

The Integration Program 

Human Resources management at Groupe SEB 

is supported by a range of practical tools. 

Compensation Policy 

Welcome booklet 

From values to management 

practices 

Managers, take the lead of your career

“Supporting the Group's 

international growth, 

whilst respecting its values 

and commitments” 


Harry Touret, 

Senior Executive Vice-President, 

Human Resources

Which values are shared by 

Groupe SEB employees? 

E 

ntrepreneurial drive, passion for innovation, professionalism, 

group spirit and respect for people are the Group's 

founding principles. These values should be shared by all 

of our employees, especially our managers who can 

refer to a guide of managerial practices. The Code of 

Ethics we have just adopted formalises our commitments 

and clarifies the guidelines on a worldwide scale. This 

foundation stone of shared values facilitates our approach 

to harmonising HR policies, particularly to ensure the 

successful integration of newly acquired companies. 

What is your recruitment policy? 

T 

o support our growth in over 50 countries worldwide, 

we recruit people who are well suited to working in an 

international environment; people who are committed 

and possess the new skills that will ensure Groupe SEB 

keeps its place as an innovative company. Managed with 

a view to the long term, initial recruitments are an 

opportunity to assess whether candidates have real 

potential for development and whether their human 

qualities are in line with Group values. 

So you are looking for the best talents. 

But how do you attract them? 

I 

n order to recruit the characters and skills that we 

require, we strive to enhance Groupe SEB's visibility and 

appeal amongst students in France and, starting in 2013, 

in countries where we have significant employee numbers. 

However, our responsibility extends beyond this 

area. We also develop our employees’ skills; we create 

motivating conditions with a satisfactory working environment; 

we provide a dynamic career management program 

and ensure that we provide a fair and inspiring level 

of pay. Groupe SEB stays in tune with the current trends 

in society through the commitment of citizen-employees 

and always encourages social dialogue and diversity, as 

well as our employees' involvement in communities.

Attracting, developing and retaining talents are the three 

long-term pillars of Groupe SEB's Human Resources policy. 

35 

FUNDAMENTALS 

The Group's appeal relies on its image, which itself depends on 

the Group's performance and social practices. The development 

of people, in particular the management community, is conducted 

on a worldwide scale and relies on the continued identification of 

talent and potential. Being recognised all over the world as a key 

employer is central to Groupe SEB's recruitment policy. In each 

country, this policy is based on shared values and is expressed 

through the dozens of collective agreements signed each year 

and programmes for improving the quality of life at work. 

In 2012, the Group reinforced its social commitments, with an 

increased focus on the international dimension. The system 

for welcoming and integrating new recruits has been enhanced. 

More employees have been involved in training, which covered 

more business sectors and more regions worldwide. 

Being perceived 

everywhere as 

a key employer 

Mobility has developed further still, with a more intense international 

mingling. Management has become more diversified with 

an increasing percentage of women and non-French managers. 

The reality of Groupe SEB's own practices has been formalised in 

the Code of Ethics, a reference document which is applied strictly 

to each and everyone in the company. Finally, employees in 

30 countries have been more closely associated with the growth 

of the company’s business through the Horizons 2012 employee 

shareholding plan, which has attracted a huge number of 

subscribers. 

In order to continue to be the best in its markets, Groupe SEB aims 

at maintening the high level of expertise and commitment 

amongst its men and women, which makes the Group outstanding.

36 

FUNDAMENTALS 

The Human Resources function has gradually been introduced in a large number of countries. 

This expanded community now deploys a harmonised policy throughout all continents, with 

the associated use of collaborative systems. In this way, it encourages the unique development 

of potential for each employee alongside the sharing of a set of common values. 

Finding talents 

To attract the best in order to remain the leader. With this in 

mind, Groupe SEB is improving its appeal as an employer 

amongst recruiters and young graduates. In 2012, the Group was involved 

in 15 student forums in France and welcomed almost 400 trainees and 

work placements. In 2013, it is set to become better known amongst students 

from other strategic countries (United States, Brazil, Russia, China etc.). 

A 4th partnership with a renowned French school, which has been finalised 

with IDEA (business and engineering schools – EM Lyon and Centrale Lyon), 

adds to the special links already forged with ESSEC, the Ecole Polytechnique 

and Audencia. 

This "employer brand" is also promoted through the Careers website, which 

is divided into 16 geographical zones with local content and has now been 

enriched with news about the company. Linked with the websites of the 

Group's brands, as well as with targeted professional social networks, these 

recruitment websites recorded more than 22,000 applications from web 

users in 96 countries in 2012. 

The new Integration Program guide for the use of Human Resources teams 

guarantees that all new arrivals receive the same kind of support. Four 

annual seminars introduce newcomers to the Group's culture and a Welcome 

booklet is also made available. Managed globally via a web platform, 

it includes general sections with institutional content and sections that are 

specific to certain countries and sectors. 

Careers website: 

Visitors from 

168 different countries 

Mobility, boosting expertise and advancing careers 

Groupe SEB encourages the internal promotion of its employees 

between business sectors, entities and geographical zones. Its training policy 

and its policy for validating prior experience help each person to develop 

their skills or ensure that they are recognised. Superiors can of course put 

forward proposals for mobility, but employees can also put themselves 

forward for positions published on the iMove@SEB intranet site. 

In 2012, mobility increased for managers, in particular at an international 

level: 77 managers left their home countries, which represents 25% more 

than in 2009. Finally, the Group aims to fill key positions internally as far as 

possible (80% by 2017) to guarantee the cohesion and attractiveness of the 

company. 

Horizons 2012, a partnership based on trust 

with employees 

Handing over part of the company's capital to its employees is 

a good way of getting them involved in its growth and ensuring its lasting 

success. 

Horizons 2012 is the first employee shareholding plan to be proposed 

by Groupe SEB in so many countries, 30 in total. Communications materials in 

19 languages helped to ensure a high subscription rate for this type of deal 

(43% in France, 77% in Turkey, 100% in Portugal etc.), which is a sign of great 

trust. It is worth noting that 50% of the employees who subscribed to the 

previous plan (2002) still own their shares.

37 

FUNDAMENTALS 

The right place for networks 

A high-performance digital working environment is essential in 

order to develop more projects, involving more people in processes that are 

becoming increasingly complex. In 2012, Groupe SEB intensified the creation 

of collaborative websites encouraging group-wide cooperation, the exchange 

of good practices etc. The result of the mapping of Group requirements, new 

platforms have been created for the Finance, Innovation, Strategy and Market 

research communities. 

Since the networks are not just internal, a "Social media good practices 

guide" has been published to raise employees' awareness of their responsibilities 

towards the company's reputation and to help them identify risks. 

iMove@seb: Twice as 

many internal applicants 

as in 2011 

Testimony 

Olivier Soler, 

Vice President, Remuneration 

and Social Benefits 

horizonS 2012: 

a global Shareholding plan 

"Groupe SEB has already conducted employee shareholding 

operations in the past, but these were mostly just for French 

employees. With the Horizons 2012 plan launched in September, 

the objective was to get as many employees as possible involved, 

in as many countries as possible, by enabling them to subscribe 

to shares at preferential terms. Horizons 2012 required the 

involvement of many people for almost 8 months! Thanks to their 

commitment, in particular to the teams who deployed this project 

locally, the results have been very positive. More than 30% of the 

workforce in the 30 countries concerned have subscribed to this first 

international plan." 

1983 

1st employee shareholding plan 

2012 

12th employee shareholding plan

38 

WINDOW 

ON T HE WORLD

39 

WINDOW 

ON T HE WORLD

Worldwide 

Steampod, 

the straight hair 

revolution! 

40 

WINDOW 

ON T HE WORLD 

Rowenta Salon and L’Oréal Professionnel, recognised experts in personal 

care and cosmetics, have come together to develop a brand new 

professional hair straightening system, the result of unique technology 

combining steam and smoothing creams enriched with Pro-Keratin. 

The gentle flow of steam opens up the hair cuticles to allow the cream to 

penetrate, without causing any heat damage. The results are amazing – 

perfect straightness, incomparable shine and natural movement 

for deeply nourished and repaired hair. 

One device is only available for haircare professionals to provide their 

customers with a unique straightening solution. A second device, 

sold exclusively by hairdressers, offers consumers the possibility 

of recreating the experience at home. 

5 years of research 

8 patents filed 

in 51 countries worldwide 

Germany 

ACTIFRY 2 IN 1, USEFUL AND VERSATILE 

Actifry 2 in 1 now makes it easy to cook the main dish and its 

accompaniment at the same time in a single cooking appliance. 

The vegetables go in the bowl, whilst the revolving tray allows to 

cook the meat or fish simultaneously! One easy step to create a 

well-balanced meal, thanks to the new measuring spoon, which helps to 

measure out just the right amount of oil and salt, calculated according 

to recommendations from the World Heath Organisation. 

In Germany, Actifry 2 in 1 is extremely popular with consumers since it 

is easy to use, fulfils requirements and brings design and innovation to cooking. These benefits 

were recognised by the "Best of the Best" prize for small electrical appliances at the Ambiente 

fair in Frankfurt at the beginning of 2012. 

The 5 millionth Actifry produced 

at Is-sur-Tille is a 2 in 1 model 

for the German market!

Italy 

Moulinex, passionate red 

The Red Ruby collection from Moulinex is still expanding in the area of food preparation, with the Masterchef 

gourmet kitchen machine as its spearhead. Combining power with performance and featuring a large number 

of accessories, this product caters to the growing craze amongst consumers for making cakes and gourmet 

recipes from starters to desserts! And to go one step further, Moulinex also produces a special Pasta box 

for making fresh pasta and home-made sauces. 

This approach has fuelled Group’s growth in a rapidly expanding market and led to quick 

position gains in this category, in particular in Italy. 

Trend 

41 

WINDOW 

ON T HE WORLD 

Rowenta Derma 

Perfect for perfect 

pulsed light 

semi-permanent 

hair removal at 

home. 

Professional 

results at home 

Over the past few years, there has been a boom in home cooking, home-made cosmetics, clothes 

etc. But consumers are becoming more and more demanding and are now looking for a professional 

result. In the field of small electrical appliances, this trend has resulted in a quest for more 

sophisticated products and advanced functions, leading to improved performance and exceptional 

results. From mixers to steam generators and from fully-automatic espresso machines to Intense 

Pulsed Light hair removal.... these new devices grant access to technologies that have until now 

been considered the reserve of the professionals, whilst at the same time guaranteeing 

the satisfaction, virtues and convenience of all that is home-made. 

Europe 

Concentrated innovation 

for exceptional coffee 

Combining simplicity, personalisation and functional design, U fulfils the desires of 

pod coffee lovers. Its modular design – sliding reservoir and magnetised cup stand 

– means it can be adapted to suit any work surface. Using the U tactile interface, 

consumers can choose between 3 pre-set cup sizes (Ristretto, Espresso and 

Lungo). The machine memorises its user's habits, automatically proposing the 

coffee format selected mostly frequently. 

U, new generation Nespresso

Worldwide 

Tefal, 

all the cooking solutions 

you could wish for 

42 

WINDOW 

ON T HE WORLD 

Europe 

TEFAL 

ACTIVE AND 

INTERACTIVE! 

Faced with rapid developments 

in consumer behaviour 

and the increasing influence 

of the digital world on acts 

of purchase, Tefal has set up a new 

approach to web communications. 

This is based on the complementary 

nature of devices and the generation 

of content with a high added value. 

Tefal addresses its consumers directly 

in order to support them throughout 

the entire purchasing and product 

usage process through its website 

www.tefal.com, Facebook and 

the interactive Tefal Channel. 

Germany 

3MIX, the success 

of a legend 

In the kitchen, consumers' expectations evolve alongside 

changes in recipes, desires or constraints. As the market 

leader in cookware, Tefal supports the everyday lives 

of its consumers by designing products that are suited to 

each occasion and fulfil various requirements in terms 

of materials and coatings. In 2012, the brand expanded 

its range to ceramic coated cookware. 

The highly scratch-resistant Ceramic Induction range 

is dedicated to gourmet and tasty cooking, making 

it possible to get a golden and crunchy result with 

only a little added fat. It completes to the existing 

ranges of non-stick coatings, ideal for healthy everyday 

cooking. Finally, for the experts, there are stainless 

steel frying pans giving the ultimate precision 

for exceptional dishes! 

In Germany, 3MIX, the mixer from KRUPS, has been a benchmark in the food 

preparation market since it was launched in 1959. Synonymous with performance 

and quality, its success has never waned over the years and was confirmed in 2012 

thanks to the launch of brand new versions and the expansion of the range to include 

products that are even more versatile. 

It was therefore nominated best product in its category by the German consumer organisation, 

Stiftung Warentest, and was awarded the prestigious "Red Dot Design Award" 

for "High Design Execution".

France 

Cookeo, 

a revolution 

in the kitchen! 

Enjoy your meal! 

Cookeo is futuristic in looks and much more besides. With its state-of-the-art technology, 

this intelligent multifunction cooker has an intuitive and interactive screen, which offers 

step by step guidance when making pre-selected meals. Select your ingredients, choose 

a recipe and Cookeo will tell you the cooking time as well as the required quantities 

of ingredients to make your meals as easy as 1,2,3. Cookeo will be your new ally when 

it comes to cooking good, varied meals every day - rapidly and without having to keep 

an eye on things. 

Cookeo, the first intelligent multifunction cooker from Moulinex. 

LSA 2012 trophy for innovation 

43 

WINDOW 

ON T HE WORLD 

United Kingdom 

Express Boil, 

hot, hot hot! 

Tefal Express Boil is the promise of boiling water, 

whenever you want and at the touch of a button... 

for the perfect cup of tea! This unique system heats 

just the right quantity of water in an instant, whilst 

the water in the reservoir stays cold. In addition, 

Express Boil memorises and reproduces just 

the right volume for your favourite mug! 

It is an innovation that been noticed 

and approved by "Which?", the largest 

consumer organisation in the 

United Kingdom, which awarded 

the machine its prestigious 

Best Buy in the "hot water 

dispensers" category. 


Natura: 

ExpaNsioN for 

thE rEcyclEd alumiNium raNgE 

Tefal, world leader in cookware, is committed to sustainable 

development. In 2010, the brand launched Natura, an environmentally 

friendly range including cookers, casseroles, woks and 

pans made from 100% recycled aluminium. This range was then 

expanded to include bakeware and oven dishes and since 2012 

now also features new pans with fixed or removable Ingenio 

handles. These new models are entirely made in France because 

the brand prioritises local supplies of aluminium (France, Haute- 

Savoie), minimising the environmental impact of transport. 

This impact is reduced still further because the manufacturing of 

recycled aluminium requires 95% less energy than classic aluminium. 

In 2012, more than a million Natura products were sold 

worldwide. 

Hot water on demand

44 

WINDOW 

ON T HE WORLD 

34 cups of coffee drunk 

per person and per week 

in the United States 

Trend 

COFFEE BUT NOT 

BLACK COFFEE 

Whilst in Europe espresso confirmed itself as the benchmark 

over the past few years, people in the United States drink 

more filter coffee with various other ingredients added, such 

as milk, cream, sugar, flavoured syrups, caramel etc. All over 

the world in fact, there is an increasing tendency to drink 

milk-based coffees such as cappuccino, caffe latte and 

macchiato. This is a strong trend, which is probably 

linked with the rapidly increasing number of "coffee shops", 

which, through imitation, have encouraged the emergence of 

a multiple beverage product offer to appeal to all audiences. 

These high-performance and high-end devices, whether they 

use pod coffee or are fully-automatic espresso machines with 

accessories to create frothy milk, reproduce the variety and 

quality of professional coffee at home, whilst allowing users 

to give their coffee their own personal touch. 

USA 

Over to the experts! 

Supported by the expertise of Krups in this sector, 

2012 was a particular successful year for coffee. 

In Germany, the brand's home market, the Group has developed 

a particularly strong product offer, led by the fully automatic 

EA 9000 espresso machine. Well known for its high performance, 

reliability and quality, this machine has also been awarded the Stiftung 

Warentest label, which is a benchmark for meaningful German consumers. 

Boosted by its success, Krups' development in the coffee market has 

continued on the other side of the Atlantic and has benefited from 

a large-scale marketing campaign. In particular, Krups has continued 

its "Krups Best Brew Awards 2012" campaign, in search of the most 

popular establishments in 10 major cities, as well as the most 

talented baristas. This has proved to be an original way 

of highlighting coffee aficionados.

USA 

Canada 

All-Clad B3. 

Touché! 

The new anodised non-stick range from All-Clad, launched 

exclusively in specialist shops Bed Bath and Beyond, 

was a huge success in 2012. With almost 30% of the market, 

hard anodised is a material that is greatly appreciated 

by American consumers. For its first foray into this area, 

All-Clad offers a unique range based on patented aluminium 

co-lamination technology (bonding different layers of metal 

for perfect heat distribution), an ultra-effective, long-lasting 

anti-adhesive coating and an exceptionally hard-wearing 

anodised exterior. A winning strategy that will 

be gradually rolled out to other distribution networks. 


A winning year 

for linen care 

With almost 35% of the market, Groupe SEB is 

the undisputed leader in personal care in Canada. 

Present with 2 brands, Rowenta and T-fal, it responds 

to consumers' requirements with professional results, 

practicality and efficiency. Group sales were particularly 

strong in 2012, benefiting from an assertive marketing 

strategy. Rowenta has been the official supplier 

to the Fashion Weeks in Canada for several years 

now and has also benefited from an exclusive 

presentation tour for its steam stations with the retailer 

Costco. At the same time, the brands have been 

consolidating their presence in shops by setting 

up dedicated corners and specific promotions. 

45 

WINDOW 

ON T HE WORLD 

Bill Telepan, 

Telepan restaurant Executive Chef, 

New York; Wellness 

in the Schools 

hEalthy EatiNg bEgiNs 

at school 

“Michelle Obama’s Chef’s Move to School program 

is all about getting chefs to schools and cooking 

non-processed food and getting kids excited about 

eating it. So is Wellness In The Schools, and we’re 

proud to be involved. When you go into a school 

with your chef’s white coat on, the kids sit up and 

listen, and when they learn to cook unfamiliar 

food themselves, they’re happy to try it! Then they 

take their recipes home to their parents and little 

by little their food culture changes. By donating 

cookware kits to schools and WITS cookery labs, 

All-Clad allows chefs to work with high quality 

materials –and manage their cooking and classes 

better. We need cookware companies to get 

involved like this to get more chefs excited and help 

spread the word.”

Colombia 

46 

WINDOW 

ON T HE WORLD 

Imusa-Home & Cook 

Capitalising on the expertise of Imusa's historic network of stores, Tiendas del Hogar, and its Home & Cook 

stores strategy, the Group has set up a new joint store concept in Colombia – Imusa-Home and Cook. Offering 

a full range of small electrical appliances, cookware and accessories in a welcoming environment dedicated 

to the home, these stores also offer consumers the chance to participate in cookery workshops and 

demonstrations. Currently being rolled out to all the "Group" stores in the country, this new concept will 

enable the group to boost its sales, offer an enriched range of products and gain visibility, as well as a deeper 

understanding of consumers in a rapidly expanding market. 

28 stores 

in Colombia 


homE & cook floats 

oN thE amazoN 

USA 

Residents of the Amazonian village of Acajatuba got to 

shop in a Home & Cook floating store and learn more 

about nutrition last December, as Groupe SEB Brazil 

launched the Amazonas River Boat project. With a population 

of almost 200, Acajatuba is a three-hour boat 

ride from the city of Manaus and boats are the main 

form of transport in this region where most people have 

limited access to stores. Villagers could thus shop and 

buy Groupe SEB products at accessible prices, and take 

cookery courses to learn how to make the most of local 

fruits and vegetables. There were also games aimed 

at encouraging children to adopt better eating habits. 

The initiative was a great success, with 80 adults and 

50 children participating. 266 out of the 295 products 

on offer were sold! 

IMUSA 

#1 HISPANIC BRAND 

With a large Hispanic population remaining loyal to the traditions 

and cuisines of their origins, the United States is a flagship market 

for Imusa. With its wide range of products and very dynamic sales policy, 

Imusa is the benchmark in the sector. 

At the same time, Imusa also relies on famous chefs such as Ana Quincoces 

and George Duran to share their passion for Hispanic cuisine with consumers 

through recipe books, cookery courses and in-store demonstrations using Imusa 

products, in particular at Macy's.

Brazil 

Brazil 

Favourable winds 

Though subject to unpredictable climatic conditions, ventilation is still a major market 

in electrical appliances in Brazil. Arno, the market leader in this category, expanded 

its range in 2012 with the launch of a new ultra-powerful and economic ceiling fan, 

which is positioned at the top of the range. Manufactured locally, the Ultimate Eco Energy 

offers plenty of consumer benefits, which are unique in this market – a light device that 

is easy to fit, an infinite variety of settings to combine power with silence and up to 35% 

energy savings! At the same time, Arno has also launched a brand new version 

of the Turbo Silencio table fan, featuring 6 blades for increased efficiency and less noise. 

Brazil Arno, 

beauty plus… 

47 

WINDOW 

ON T HE WORLD 

Design, Power and Silence. 

Folha Top Of Mind 

prize 7 years in a row 

for Arno fans 

For the third year in a row, 

the brand Arno has been recognised 

by famous women's magazine 

Nova in its Prêmio de Beleza, 

awarding the best beauty products 

launched in Brazil in 2012. This year 

it was the Arno Beauty Pro Respect hair dryer 

that attracted the jury's attention, following 

three months of tests, and was awarded first 

prize. 

Mexico 

¡Olé Actifry! 

Actifry is continuing to expand worldwide and has arrived in Mexico. 

To celebrate the occasion, local teams invited celebrities from show business 

and the media (TV, radio, press and internet) to a top restaurant to introduce 

them to THE fryer and its famous spoonful of oil. They were able to test several 

recipes with the help of celebrated Mexican chef, 

Roberto de la Parra. 

In a market where obesity and diabetes are becoming a concern and 

where nutrition is getting increasingly important part of consumers' 

requirements, Actifry provides a genuinely healthy response without 

compromising on enjoyment.

Russia 

Rowenta, 

sponsor of 

Volvo Fashion 

Week in Moscow 

48 

WINDOW 

ON T HE WORLD 

Volvo Fashion Week in Moscow is THE fashion event in 

Russia. It takes place twice a year and attracts more than 

100,000 visitors and celebrities from the media, entertainment 

industry and the business world. This is a key event 

in which Rowenta took part through its two main areas of 

business - linen care and beauty. Stylists were able to test 

the performance of Rowenta irons throughout the event, 

whilst professional hairdressers were able to give free rein 

to their creativity thanks to haircare equipment supplied by 

the brand. This gave Rowenta exceptional visibility, boosting 

its image and promoting its expertise to a very demanding 

audience. 

Rowenta, leading brand 

in the Russian haircare 

equipment market. 

Trend 

You are what you eat 

The impact of food on our health is a major concern 

for consumers all over the world, since 88% of consumers 

questioned worldwide are aware that what they eat has 

a strong impact on their health*. Cooking at home is one 

of the best guarantees of eating healthily, with carefully 

selected ingredients and controlled quantities of fat. 

The innocuousness of cooking utensils is also a determining 

factor for some consumers, who are proving to be more 

and more attentive to the quality of the materials used 

and to the environmentally-friendly aspect of products. 

Of all the perceived risks, obesity and high cholesterol 

are mentioned most often, followed by diabetes, 

cardiovascular disease, food poisoning and allergies. 

*Usage and Attitude study carried out by Groupe SEB 

in 2012 and Food test carried out by TNS Sofres.

Russia 

CREATING A WELCOMING 

ATMOSPHERE 

TO ENCOURAGE SALES! 

Consumers of small electrical appliances can sometimes feel lost amongst 

the shelves of a shop! Helping them to find their way, make their choice 

and their purchase is the role of category management. 

In Russia, the Group has set up an innovative approach at two major retail 

customers in the linen care section. The aim is to support consumers 

in the purchasing process by: 

• Adapting shelf displays based on studies of purchaser behaviour; 

• Shelf merchandising: Explanatory videos and text, interactive touch screens, 

demonstrations, original end-aisle displays; 

• Free access to products displayed and sufficient stocks. 

Shelf management - supports consumers and boosts sales. 

49 

WINDOW 

ON T HE WORLD 

Mali 

Czech Republic 


pEsiNEt: morE thaN just aid, 

it's rEal tEamwork 

The Pesinet association has set itself the task of reducing 

infant mortality rates in Sub-Saharan Africa. Since 2008, 

it has been providing regular medical care for low-income 

families in Mali and their children aged 0-5, in particular 

regarding their weight evolution. Care workers use Tefal 

infant weighing scales to weigh children at home. Light 

and easy to use, these scales have turned out to be very 

well suited to travelling, but less suited to the situation in 

the field (dust, transport etc.). Tefal teams are working 

alongside Pesinet to develop a device that provides better 

protection for the sensors in the scales. Groupe SEB Foundation 

is financing the design, the initiation of local 

manufacturing and is committed to supplying the scales 

to the NGO free of charge for five years. 

Electroworld Praha Čestlice, 20 m² dedicated to Dolce Gusto. 

Dolce Gusto 

makes its mark 

The subsidiary has set up brand new publicity and merchandising materials 

at three of its major specialist retailers to gain in-store visibility. 

These are real "shops-in-shops" with dedicated displays, promoting Krups 

machines, their accessories and the wide variety of capsules available.

Worldwide 

Air Force, 

essential! 

50 

WINDOW 

ON T HE WORLD 

The organisation of household tasks has 

changed a great deal in recent years, revealing 

a strong trend for small amounts of daily 

maintenance. The weekly deep clean is 

becoming a thing of the past as cleaning is 

being carried out in short bursts throughout 

the week. This means that households that 

already have a "classic" vacuum cleaner are 

adopting a second piece of equipment, which 

is lighter and more functional. Rowenta has 

led the way in this area and has encouraged 

the emergence of this new trend by proposing 

its cordless Air Force stick cleaner, 

which is easy to use every day and in every 

room of the house, without compromising on 

performance. In 2012, Air Force continued to 

expand its worldwide presence, in particular 

in Japan, South Korea, Australia and the 

United States (where it is known as Delta 

Force). The range has also been extended 

with the addition of the Air Force Extreme, 

which features a Delta head offering even 

better performance, a motor with new cyclonic 

technology for maximum suction power 

and better separation of dust particles and 

an extended battery life. 

1,000,000 Air Force sold. 

United Arab Emirates 

South Korea 

Rowenta 

at the top of 

the podium 

Already recognised for its expertise and 

the quality of its haircare products, Rowenta 

has been awarded the "2012 Korea First 

Brand Award" at the Brand Forum, 

sponsored by the "The Korea Economic 

Daily" newspaper. 

ROWENTA CURL ACTIVE AWARDED 

"PRODUCT OF THE YEAR 2012" 

The Curl Active hair-styler has been rewarded for its innovation and design as part of a survey carried 

out by TNS amongst 800 households in the United Arab Emirates.

Japan 

Get your Vitamins 

A clever and colourful range for creating delicious recipes. 

Tefal has launched the Vitamine range of 14 kitchen utensils in silicone 

for cake making and serving. Fully coated in heat-resistant silicone, 

they are easy to use – even for left-handed people – and to clean, 

since most of the range is dishwasher-safe. Launch under the T-fal 

brand, Vitamine accessories are perfect to liven up Japanese kitchens! 

51 

WINDOW 

ON T HE WORLD 

Vietnam 

My Tam, the 

voice of Supor 

Having had an industrial and commercial presence in Vietnam 

for several years already, Supor wanted to enhance its image 

in the country through a select partnership with famous singer 

My Tam. My Tam is 30 years old and has a very healthy 

and positive image. She voluntarily supports charitable causes. 

As well as being popular, her image fits well with Supor's values 

– a reliable, ingenious brand which is easy to live with. 

As a spokeswoman for the brand, My Tam has been associated 

in several different ways with Supor in Vietnam, both for small 

electrical appliances and for cookware. 

Trend 

My hair, my hairstyle 

and me 

Hair is not only a means of seduction; it is also a key part of a woman's identity. At a personal 

level, the choice of hairstyle reveals a lot about a woman's personality and often changes 

according to the various stages of her life. The way women look after their hair also plays 

a key role in terms of status in society. This reflects the level of image maintenance 

and therefore also the moral or professional qualities a woman likes to convey. But when hair 

is not managed well, it can be a source of dissatisfaction and can influence mood, 

confidence and self-esteem. The quest for beautiful hair – shiny, soft, silky, with volume – 

is therefore one of the main issues in the development of a woman's femininity, identity 

and social image.

Japan 

Australia 

Thailand 

52 

WINDOW 

ON T HE WORLD 

Tefal, 

French 

Heritage 

Super Supor! 

Tefal has launched Heritage, a high-end range 

of cookware combining state-of-the-art technology 

with French elegance for delicious everyday cooking! 

Heritage has an ultra high performance Titanium 

Pro 7 layer non-stick coating. 

For this French-inspired launch, Tefal was supported by Guillaume Brahimi, one of the most famous French 

chefs in Australia. A great choice of ambassador for the brand! 

China 

Supor Superbrands China 2012. Superbrands (also present in 80 countries worldwide) 

is a label that rewards the favourite brands of Chinese consumers according to several different criteria: 

Leadership, history, values, recognition, loyalty and proximity to consumers. 

Supor has received three awards from Walmart for the quality of its relation with the retailer: 

Best Supplier 2011 for cookware and small electrical appliances; Best Supplier of cookware 

for the Sam's Club chain of stock clearance shops. 

Best Practice Gold Award from the Business Review China magazine in the "Integration and Cooperation" 

category for its integration in Groupe SEB. 

on a large 

scale 

The Thai market* is one of the largest in South-East 

Asia and is growing at an average yearly rate 

of 8%. This rapid emergence is providing the Group 

with a number of opportunities for growth. 

Since 2010, new impetus has been given 

to this market. 

Relying on an adapted product portfolio, Thailand 

had a particularly successful year in 2012, both 

in terms of consumer benefits and profitability for the 

Group. Tefal – the Group's flagship brand – launched 

new ranges of irons, blenders, kettles, cooking 

appliances, rice cookers, grills, vacuum cleaners and 

non-stick cookware, particularly in stainless steel. 

*66 million inhabitants 

71% of the population is aged 15 to 64 

Growth in GDP 2012 +5.5%.

A winning network 

of own stores 

Japan is the fourth largest contributor after China, France and Turkey when it comes to our 

own retail network. With 11 points of sale under the T-fal or T-fal/Lagostina names in outlet 

villages, Japan recorded in 2012 vigorous sales and is taking advantage of its strong brand 

notoriety to promote its wide range of products and withstand the decline in more classic forms 

of distribution. This aggressive and winning policy will continue in 2013 with the extension 

of our network. 

An average surface area 

of 240 m² per shop. 

A great showcase 

for the Group in Japan. 

Trend 

COOKING TO FULFIL 

POTENTIAL 

Studies carried out by Groupe SEB and TNS Sofres in 9 countries* worldwide have shown that cooking 

is seen as the most enjoyable household task and that it generates a high level of interest. In China, 

cooking is also seen as a means of fulfilment, especially when people are cooking for loved ones. 

In the majority of cases, people learn to cook from their parents, with the help of cookery books, 

but recent years have seen the emergence of new ways of learning and new sources of inspiration 

such as the Internet - especially in South Korea and Japan - cookery TV programmes - Russia and 

China-, mobile applications and cookery courses. 

*France, Russia, Brazil, Japan, South Korea, United Kingdom, Germany, United States, China 

53 

WINDOW 

ON T HE WORLD 

Japan 

Freemove, cordless freedom 

Cordless and powerful, the T-fal Freemove iron is breaking away from standard steam irons! 

The absence of cord gives complete freedom of movement whatever the type of clothing 

and work space. But unlike most of the competitors’ models on the market, the Freemove 

does not involve any compromise when it comes to performance during the ironing session: 

power and a steam output of up to 170g/min ensure perfect results. Thanks to more 

in-depth studies into the ergonomics of ironing, the iron is very naturally 

repositioned and recharged on its base between each active sequence... 

for ironing without any restrictions. 

4 seconds of charging 

gives 25 seconds 

of active ironing 

with complete freedom

54 

SUSTAINABLE 

DEVELOPMENT

55 

SUSTAINABLE 

DEVELOPMENT 

challenges p. 56 

2012 action plan p. 58 

commitments and management p. 59 

ethical standards p. 60 

social p. 62 

communities p. 66 

consumers p. 70 

environment p. 72

56 

SUSTAINABLE 

DEVELOPMENT 

Groupe SEB has defined five priorities for sustainable development, which are the subject of medium 

or long-term action plans. The ongoing projects have been carried out throughout 2012 as part 

of a continuous improvement process, which reveals strong potential for innovation. 

Ensuring the Group's 

ethical principles 

are respected 

Respecting ethical principles in terms of corporate, social and 

environmental concerns is at the heart of Groupe SEB priorities, 

throughout the entire scope of its business activity and regardless of the 

speed and extent of Group’s growth. Within the context of a particularly 

strong acquisitions programme, the Group is aiming to set up a common 

reference system upon which all of the new entities are expected to 

converge. With this in mind, in 2012 Groupe SEB widely distributed its Code 

of Ethics to employees all over the world, establishing a reference of the 

good practices in force and expected conduct. Other key actions in terms of 

ethical principles include the introduction of better procedures for monitoring 

suppliers, such as the publication of a responsible Purchasing Charter* and 

the deployment of social and environmental audits by specialist group SGS. 

Pursuing a social responsibility policy 

Groupe SEB has a responsible Human Resources policy, pursuing 

the consolidation of a global platform based on principles of non-discrimination 

and respect for people. The Group encourages social dialogue 

across two dimensions - individual and group - and attaches great importance 

to training as an essential factor in skills development. Safety is also 

one of Group’s main concerns. At the end of 2012, 91% of international 

industrial and logistics entities were OHSAS 18001* certified, excluding new 

acquisitions. 

Developing territories and community commitment 

Groupe SEB stays in touch with civil society, adopting a socially 

responsible approach throughout the territories in which it operates. It actively 

invests in communities, as can be seen in its campaigns promoting 

equal opportunities and its support for the growth of local businesses, 

including representatives of the social economy. The Group's corporate 

philanthropy policy is managed by its Corporate Foundation, both in France 

and worldwide. The Foundation focuses in particular on combating social 

exclusion and is enriched by the contribution of a number of local initiatives. 

In 2012, the Foundation supported 47 projects and set up new partnerships 

focussing on healthy eating for everyone. 

Creating sustainable innovations 

to meet consumer needs 

Modern consumers want products made to fulfil social, ethical 

and environmental requirements. For the Group, this means producing highquality 

products that last. Encouraging the repair of products rather than their 

exchange is in fact a key part of Groupe SEB's service policy. In 2012, 73% of 

products sold were fully repairable and 93% partially repairable. Another part 

of our sustainable development approach for consumers is about designing 

products that take health and nutrition issues into account, such as the Nutritious 

& Delicious range. Finally, the accessibility of products to as many people 

as possible, including the disabled and people on a low income is an important 

feature of the Group's R&D work.

57 

SUSTAINABLE 

DEVELOPMENT 

Reducing the environmental impact 

Groupe SEB takes into account respect for the environment at 

every stage in the lifecycle of its products, from initial research (sustainable 

design) to processing products at their end-of-life and including manufacturing 

(eco-production*), transport (eco-logistics*) and use by the consumer. 

It also makes this a part of its everyday business by aiming to reduce its 

consumption of energy resources. For many years now, the Group has been 

committed to the continuous improvement of environmental performance 

and 94% of the Group's factories are now ISO 14001* certified, excluding 

new acquisitions. Ongoing progress is also being made in the reduction of 

CO2 emissions linked with the transport of products. 

* See glossary 

www.groupeseb-sustainabledev.com 

SuStainable Development trophieS 

For the first time, Groupe SEB has introduced internal trophies for sustainable development projects. 

Open to all sites worldwide, these trophies encouraged widespread participation: 5 countries (Germany, Brazil, 

China, Colombia and France) took part, entering 21 very diverse projects for the competition. The prizes were 

awarded to winners in 3 categories: 

- Product: Tefal Natura range of recycled aluminium cookware (p. 43); 

- Environment: Heat recovery project at the French Is-sur-Tille factory (p. 31); 

- Social: Colombian initiative for the "Tinteros" street coffee sellers (p. 67).

CHALLENGES 

2012 main achievements 

Objectives 

58 

SUSTAINABLE 

DEVELOPMENT 

Ensuring the respect 

of ethical principles 

- Deployment of the Code of Ethics on a worldwide 

scale 

- Distribution of a responsible Purchasing Charter* 

- 2013: promotion of the Code of Ethics in the 

Continents 

- 2013: respect of the responsible Purchasing Charter 

to suppliers in the panel, 80 social audits in 2012, by suppliers in the panel 

of which 34 were carried out by the company SGS - 2015: 100% of suppliers in the panel audited 

- Formalisation of CSR* criteria in the selection of - 2013: renewal of HRCA Quick Check and CBSSC* 

suppliers 

in China 

- Setting up of action plans following the second HRCA - 2013: setting up of a panel of external stakeholders 

Quick Check* 

Pursuing a social 

responsibility policy 

- 91.2% of industrial and logistics entities OHSAS 

18001* certified excluding new acquisitions 

- Lost time injuries rate: 8.89 in France, 3.49 worldwide 

- 2015: 100% of industrial and logistics entities OHSAS 

18001 certified (excluding Asia Fan and Maharaja 

Whiteline) 

- 2013: LTIR* less or equal to 7.5 in France and 3.15 

- Setting up of a Health and Safety Strategy Committee worldwide (excluding India) 

- 34.5% female managers worldwide 

- 2013/2014: international deployment of the "Safety 

- Global employee shareholding plan: Horizons 2012 in SEB" approach 

- Introduction of the Great Place to Work social - 2013: 20% of the overall training budget dedicated to 

barometer in France 

increasing the employability of people with low levels 

- 2.75% of the total payroll spent on training of qualification (France) 

Developing territories 

and community commitment 

- 47 projects supported by the Foundation in 2012 

(212 projects since its creation) 

- Group’s philanthropic budget: €2.67 million 

- 2013/2014: continuing the globalisation of the corporate 

philanthropy policy (Vietnam, India, Brazil etc.) 

- 2013/2014: development of cause related marketing 

- Development of a global corporate philanthropy operations 

policy 

Creating sustainable 

innovations to meet 

consumer needs 

- Extension of the Natura range, eco-energy fans in 

Brazil and Vietnam 

- Quality: Improvement in the return rate of products 

under guarantee 

- 2013: reinforcement of eco-responsibility criteria 

in brands 

- 2015: 90% of products sold are fully repairable 

- 2013/2015: promotion of a product offer that is 

- 73% of products sold fully repairable and 93% accessible to a wider range of consumers (Bottom of 

partially repairable 

The Pyramid projects, seniors, people with disabilities 

- 6,500 approved repair centres worldwide, with 4,500 etc.) 

full-time jobs induced 

Reducing the environmental 

impact 

- 94.1% of industrial and logistics entities ISO 14001* 

certified excluding new acquisitions 

- 2013: deployment of a new internal eco-design guide 

- 2015: 100% of industrial and logistics entities ISO 

- Potential recyclability of products designed in 2012: 14001 certified (excluding Asia Fan and Maharaja 

almost 80% 

Whiteline) 

- 95% of product families covered by LCA* 

- 2015: 100% of product families covered by LCA 

- Pilot operation for collecting and managing the endof-life 

- 2013: reduction of carbon footprint linked with 

of Group’s products (cookware France and transport 

Colombia) 

- 2014: one eco-innovative project for each factory 

- 216,551 tonnes of CO2 emissions linked to transport 


in 2012 

For more information, see the full action plan for sustainable development on our website at www.groupeseb-sustainabledev.com

To establish sustainable development at the heart of its organisation, 

Groupe SEB has adapted its management systems and introduced new criteria 

to its processes to guide its strategies and actions. 

59 

SUSTAINABLE 

DEVELOPMENT 

Stronger organisations and management systems 

More reliable reporting 

The Sustainable Development Steering Committee met three 

times in 2012. Made up of directors from the various functions and Business 

Units, this Committee ensures that sustainable development criteria are 

taken into account in the organisation and roll-out of action plans for each 

sector. 

A panel of external stakeholders is currently being set up to carry out analyses 

for this Committee. This initiative will provide a critical and constructive 

review of Groupe SEB's sustainable development strategy. 

New global sustainable development reporting software has also been introduced. 

Including more indicators and featuring better upgrade potential 

than the previous system, this makes it easier for the Group to conform to 

the requirements of the French Grenelle Environment regulations and to fine 

tune the way it manages its actions. 

Sustainable development as part 

of Group processes 

Featured in the Internal Control Manual, sustainable development 

criteria make a practical contribution to each process. These criteria are defined 

by the relevant sectors and verified by the Internal Audit department. In addition, 

as part of its research prior to acquisitions, Groupe SEB uses a set of 

questions partly inspired by the HRCA Quick Check*. 

A new audit carried out by PricewaterhouseCoopers Audit has 

enabled Groupe SEB to validate its non-financial data from 2012. A wider 

selection of social, corporate responsibility and environmental indicators, 

along with a verification involving more sites and countries, have enabled 

the Group to obtain a report providing a limited assurance for the second 

year running. 

Recognised for its non-financial performance 

Since 2005, the rating agency Vigeo has been reporting on 

Groupe SEB's corporate social responsibility, based on a panel of companies 

from the "Technology and Equipment" sector. In 2012, the Group's positive 

results ended in 20th place in the Vigeo France 20 index and 78th place in 

the Europe 120 list. 

This performance also ensured the Group’s place in the "Ethibel Pioneer" 

index of pioneering companies in terms of corporate social responsibility. 

Forum Ethibel, which is responsible for this label, is an independent consultancy 

aiming to promote socially responsible investment in Europe. 

* See glossary

60 

SUSTAINABLE 

DEVELOPMENT 

Groupe SEB's internal and external stakeholders now have at their disposal a formal reference 

system, the worldwide Code of Ethics. The Group's responsible Purchasing policy has been reinforced 

by the formalisation of CSR* requirements throughout the entire value chain. 

An essential Code 

of Ethics 

Groupe SEB has set itself up with a worldwide Code of Ethics, 

which clarifies its commitments to its stakeholders in line with 

its values and management practices. This common reference system 

applies to all entities and was drawn up by representatives of the various 

sectors and geographical zones, under the leadership of the Sustainable 

Development Department. 

Divided into 18 topics, it formalises the individual and group rules of conduct 

to guide the actions of the 25,000 employees and to help them make the 

right decisions. In case of any doubt, employees can seek the advice of one 

of their Ethics Reference Contacts. 

At the end of 2012, this Code was distributed in 10 languages to the 

54 countries in which the Group has a presence by specially trained Human 

Resources managers and Ethics Reference Contacts. 

Human Rights 

The biennial self-assessment of Groupe SEB subsidiaries with 

more than 10 employees (HRCA Quick Check* or CBSSC* for Supor) revealed 

some non-conformities in 2011. These mainly concerned the absence of any 

reference to Human Rights in contracts with suppliers. Since then, action plans 

defined within the entities concerned have been set up. A new level of progress 

is also expected from the responsible Purchasing Charter*, which was set up 

in 2012 and gives joint responsibility to the Group and its suppliers, in particular 

in the field of Human Rights. 

A responsible Purchasing Charter 

demanding supplier commitment 

Inspired by the Code of Ethics, the responsible Purchasing 

Charter replaces and expands upon several previous references – buyers 

ethical code, labour rights statement, environmental statement etc. It sets 

out the ethical, social and environmental commitments required by Groupe 

SEB of its suppliers. Suppliers in the Group's panel which represent around 

80% of Group purchases must ratify this Charter. 

Enhanced social, ethical and 

environmental audits 

In addition to a tighter selection procedure, Group suppliers are 

also assessed through site audits. These audits have become more widespread 

and in 2012 were partly carried out by the SGS group, which uses a global 

reference system as its basis. 80 audits were carried out in this way, 34 by 

SGS, in a large number of countries: Brazil, China, Colombia, Europe, India, 

North Africa and Turkey. 

In China, the auditors revealed a few non-conformities relating to the nonrespect 

of a weekly day off or exceeding the legal working hours. The Group 

immediately suspended any new collaboration with the suppliers concerned 

and issued them with a formal notice to take the necessary corrective 

measures immediately. Supported by the Group's Purchasing teams, they have 

one month to present structured plans for fulfilling requirements or be struck 

off from the panel. 

The objective is to audit all of the suppliers in the panel within four years.

CSR* criteria in the selection 

and assessment of suppliers 

61 

SUSTAINABLE 

DEVELOPMENT 

Social and environmental clauses 

in invitations to tender 

The Group is gradually including more social and environmental 

clauses in its invitations to tender in France. These predominantly concern 

the professional integration of disadvantaged or disabled people and the 

reduction of environmental impact. 

Increased traceability of chemical substances 

Regulations relating to chemical substances are becoming 

increasingly rigorous and complex. Groupe SEB has now handed over the 

management of the traceability of these substances, in particular REACH*, 

to EcoMundo*. This specialist organisation manages the conformance of 

almost 1,000 suppliers concerned via a dedicated internet portal. 

Mobilisation of the Purchasing community 

Information and training allow the responsible Purchasing 

approach to be firmly established amongst the Group's employees: 

responsible Purchasing Web Forum (150 participants), Purchasing Week 

(70 participants), social audit training by SGS (120 Group buyers and some 

suppliers in China) etc. 

The management of Purchasing actions will be facilitated by the future collaborative 

platform, Power, which will centralise worldwide information linked 

with suppliers and make it more reliable (signed responsible Purchasing 

Charters, ISO 14001 certifications etc.). 


reSponSible purchaSing: 

a charter formaliSing requirementS 

for SupplierS 

Respect for people, one of Groupe 

SEB's founding values, has been 

a formal part of the company's 

philosophy since 

1972 

Testimony 

"Groupe SEB works with more than 1,700 suppliers of raw materials, 

components and finished products. We must therefore ensure that these 

suppliers respect our ethical, social and environmental requirements. 

In 2012, these requirements were formalised in a responsible Purchasing 

Charter covering employment law, Human Rights, protection of 

the environment etc. This was sent to the Group's panel of suppliers 

and issued to buyers internally. Our teams are currently working to 

ensure that all suppliers sign this Charter and commit to ensuring 

that its content is respected. Our policy of tighter controls means that 

we can ensure this takes place." 

Hervé Montaigu, 

Vice-President Purchasing

62 

SUSTAINABLE 

DEVELOPMENT 

The women and men working for Groupe SEB define its success. The Group gains their loyalty 

by promoting equality and diversity in its policies and encourages their commitment through 

social dialogue. It also develops their employability through training and is committed to providing 

them with a healthy and safe working environment. 

A growing 

cultural mix 

Diversity is an asset, within the Group and in each of its entities, 

because it ensures the Group remains open to new approaches 

and different models. That is why Groupe SEB cultivates diversity in all shapes 

and forms - the cultural diversity that is a natural result of the Group's international 

character, equality between men and women, places allocated to older 

people, a mix between different ethnic and social backgrounds etc. In France, 

the Group is working on the latter with specialist consultancy firms such as 

Mozaïk RH and the equal opportunities network "Nos Quartiers ont des 

Social 

Talents". It also encourages its temporary work agencies to take the diversity 

dimension into account. To combat any potential form of discrimination, advice 

and mediation committees offering equal representation have been set up in 

the Group, in particular the Diversity Council in France. 

Groupe SEB has also started work, in partnership with the LICRA*, on a "Guide 

to managing religious practices" for use by its managers. 

awarDS for aSia fan anD Supor 

Within the framework of the "Workers' Month 2012", Asia 

Fan was named Best Employer by Ho Chi Minh City and 

its Workers Federation, which had selected 134 companies. 

Out of these 134 companies, 18 had been selected by 

the local authorities, including Groupe SEB's Vietnamese 

subsidiary, which received a certificate for its commitment 

to improving the working conditions of its employees. 

Supor also received an award for its Human 

Resources policy in 2012. It was nominated Best 

Company for developing talents in China for its "4-stage 

programme for developing leadership skills", aimed at 

promoting the leadership of the company's managers. 

A new phase in the disability policy 

Another component of diversity, disability, is still an important 

issue for Groupe SEB, which aims to prevent handicap through its Health & 

Safety policy, as well as ensure the possibility of employment for people with 

disabilities. The proportion of employees with disabilities is over 6% in the 

Group's French sites. 

A group agreement on disabilities, to be published every three years, was 

presented to staff representative bodies in France at the end of 2012 and 

negotiations are currently under way. 

Increasing access to management 

positions for women 

The Group is committed to ensuring equal opportunities for all 

of its employees. Only their professional ability shall be taken into account 

when it comes to their recruitment, remuneration and development within 

the Group. Gender equality progressed still further in 2012: 34.5% of management 

positions were occupied by women, compared with only 20% 

ten years earlier. This trend is linked with women's increasing interest in 

management experience and mobility, in particular moving abroad, and with 

Groupe SEB's non-discriminatory policy. 

Training programmes in technical skills were provided in French factories. 

Specifically intended for women who want to move on to industrial positions, 

they enhance women's access to jobs that have traditionally been carried 

out by men. In terms of remuneration policy, specific budgets have been 

negotiated to ensure equal pay between men and women.

Objective: To triple the number of women in key 

management positions over 4 years. 

63 

SUSTAINABLE 

DEVELOPMENT 

Social dialogue without limits 

Backed by a long tradition of social dialogue, recently reaffirmed 

by the Code of Ethics, Groupe SEB signed 131 new group agreements 

worldwide in 2012. 

In the United States, All-Clad negotiated a major agreement, which will 

benefit employees as well as customers and the company itself. It has 

enabled the introduction of a new and more efficient work system, based 

on autonomous production cells. A training plan will enhance the versatility 

required from staff, and therefore also their employability. 

The Vietnamese subsidiary, Asia Fan, has signed a collective agreement with 

the aim of improving the working conditions of its employees. This deals in 

particular with overtime, salaries, health & safety and training options. In the 

case of maternity or the loss of a close relative, it also provides for a higher 

number of days of paid leave than that stipulated by local regulations. 

In France, the priority has been given to boosting action plans – professional 

equality between men and women, integration of young people and development 

of work placement training, maintenance of jobs for senior etc. 


Training managers in diversity 

and preventing harassment 

in france 

2012: Launch of the "Great Place 

To Work" social barometer for 

employees in France 

Testimony 

recruitment without DiScrimination 

"The recruitment market is evolving. It is becoming more 

complex, in particular with regard to the omnipresence of 

the Internet and social networks, which are resulting in 

more numerous and more diversified applications. 

We therefore felt that it had become necessary for us to 

train our Human Resources community in this new 

context, with a particular focus on non-discrimination. 

In partnership with Mozaïk RH, a consultancy specialising 

in promoting diversity amongst businesses, we reminded 

participants of the 18 discrimination criteria and worked 

on some practical tools. In addition, a recruitment process 

was formalised at Group level and shared with HR managers 

worldwide. A second focal point on managing diversity 

and non-discrimination is currently being rolled out to 

managers." 

Delphine Laverrière, 

Recruitment & Mobility Manager

64 

SUSTAINABLE 

DEVELOPMENT 

Training gives careers 

a new lease of life 

benefit from training. 

Since training fuels the development of skills and professional 

advancement, Groupe SEB aims to help employees at all levels 

Since 2008, 1,200 of the least qualified employees in France have benefited 

from training, with the aim of improving their employability. Once they have 

Social 

taken refresher courses in writing, reading and IT skills, they can then undertake 

training resulting in qualifications and certificates. Groupe SEB also 

encourages its non-graduate employees to commit to projects for validating 

experienced gained, either on an individual or group level. The Group is also 

working on developing employability for jobs that go beyond its direct 

workforce. In 2012, 121 temporary staff in Mayenne, France, were prepared 

for industrial positions. 

The Groupe SEB University updates and develops the strategic skills of Group 

employees. It helps strengthen the management community by encouraging 

the passing on of expertise and good practices. The Groupe SEB University 

trained more than 1,200 managers in 2012. Some new programmes have 

been set up, such as the Innovation and Marketing School, with content that 

has been developed and deployed 100% internally. This has already enabled 

70 new recruits to learn the basics of innovation. Other highlights of 2012 

include the introduction of the Purchasing Campus; inter-company Supply 

Chain training; continuous improvement seminars within the framework of the 

project for optimising industrial performance (OPS) etc. 

An acclaimed employability policy 

In June 2012, Groupe SEB was awarded a "Human Capital 

Trophy" for its employability policy, which ensures a good balance between its 

human capital and the major technological progress it makes. The Group's 

overall social policy was also recognised by the special jury prize. This Trophy, 

organised by French newspaper “Le Monde” and recruitment consultants 

Michael Page International, recognises innovative initiatives in terms of 

managing human resources within major French groups. 

Des équipes internationa 

une culture commune 

“Safety in Seb” iS rolleD out all over the worlD 

"As specialists in behaviour-based safety, we were appointed by Groupe SEB to lead a seminar last 

September with its Executive Committee. Together, we formalised the basic principles for developing 

a culture of safety throughout the entire Group. I very soon became aware of a general desire to act 

and to ensure that this topic becomes a part of the Group's culture. Today, we are supporting the rollout 

of the “Safety in SEB” project, both in France and worldwide. An on-site training programme will 

follow, which will be based on pragmatism, dialogue and anticipation. The Group is making a 

long-term commitment to safety, with the aim of moving on from safety focussing on following rules 

to safety based on adhesion." 

Testimony 

Gilles Rabergeau, 

Associate Director, 

ETSCAF

Sebycat: New visual identity for safety within Groupe SEB. 

65 

SUSTAINABLE 

DEVELOPMENT 

Improvement of well-being at work 

As part of an approach to prevent psycho-social risks, employees 

at French sites were questioned on their well-being at work in 2011. Following 

this assessment, plans for making improvements were introduced in 2012 at 

each site - training in time management, messaging services, sleep, help with 

managing stress etc. An external and confidential listening service was also 

set up. 

Health Plan - intensive work 

With its Health Plan, Groupe SEB has been working since 2009 

on its approach towards preventing muscular strain injuries (MSI), which are 

a particular problem for production staff. Ergonomic improvements made to 

work stations, training and staff rotation, warm-up and cool-down exercises 

and increased responsiveness when an employee reports a problem at work 

have all resulted in a reduction in the number of MSI reported. 

Reduction in the lost time 

injuries rate* worldwide in 2012: 

3.49 compared with 4.04 in 2011 

Moving towards a common safety platform 

with "Safety in SEB" 

The initial phase of the Safety Plan, which was launched in 2008, 

involved all the Group's sites in working towards obtaining OHSAS 18001* 

certification. In 2012, 91% of the Group's industrial and logistical entities, 

excluding new acquisitions, were certified, including sites in St. Petersburg 

(Russia), Canonsburg (United States) and Supor (China), which received their 

certification during 2012. 

The Group wants to commit to top level safety performance and in 2012 set 

the foundations for an enhanced safety culture on a global scale by launching 

the "Safety in SEB" programme. 

Eight in-depth safety diagnostics, carried out in several countries, will enable 

the Group to refine priorities in the construction of a shared group-wide 

platform. This will be based on shared standards (terminology, methods) and 

safety objectives for managers of industrial, logistical and commercial entities. 

Practices that have already been proven in France, with the "Sécuri-SEB" plan 

launched at the end of 2011, will be gradually rolled out in other countries - 

circulation of "Attention Safety*" flashes throughout sites following accidents, 

harmonisation of Health Safety Environment Coordinator position, management 

training for behaviour-based safety inspection visits etc. 

"Safety in SEB" is overseen by a Group Health & Safety Strategy Committee 

involving three members of the Executive Committee and by an international 

Operational Committee. 

* See glossary

Communities 

66 

SUSTAINABLE 

DEVELOPMENT 

The corporate social responsibility of Groupe SEB and its employees is expressed through 

its extensive corporate philanthropy policy supported by its Foundation, as well as in its support 

for communities and public policies. 

Promoting social 

integration The Groupe SEB Foundation devotes its philanthropic work to 

combating any form of exclusion. Since it was first set up in 2007, 

the Foundation has supported 212 projects in aid of a "better life for everyone" 

with three main areas of involvement – improving living conditions, education 

and training, integration through work. In 2012, the Foundation supported 

26 major projects and 21 local projects. 

Altogether, the Group spent almost €2.7 million on philanthropic initiatives, 

including €500,000 on donated products. In addition to this, there are causerelated 

marketing campaigns, for which part of the profits is donated to 

associations. Very often, a project involves a combination of financial support, 

product donations and the commitment of volunteers, employees or retired 

employees of Groupe SEB, who enjoy sharing their expertise, points of view and 

skills. 

Until now, the Foundation has pooled resources for campaigns carried out mainly 

in France, whilst it has carried out local initiatives in other countries. In 2012, 

it formalised a global corporate philanthropy policy in order to harmonise the 

Group's philanthropic work with its subsidiaries, which the Foundation advises 

and coordinates. It also renewed several projects alongside its long-term 

partners, as well as getting involved in some new campaigns worldwide. 

A high level of commitment from volunteers 

The Groupe SEB Foundation gives priority to relevant projects that 

are located near Group sites, which encourage the commitment of its 

employees and their involvement in local lives. In France, the network of 

volunteers includes more than 160 employees. At the third Volunteer Day held 

in January 2013, they shared their experiences along with the managers 

of the supported NGOs and left with the brand new Volunteer Kit (network 

directory, glossary of integration, a presentation of the Foundation and its 

projects etc.). The tradition of charity work is also firmly established in many 

other Group subsidiaries (Brazil, China, Columbia, United States etc.). 

At the second Mecenova inter-company challenges, a French event to 

encourage employees to help associations, Groupe SEB volunteers from the 

13 French sites highlighted their activities and got 300 participants involved. 

To encourage other employees – in particular those approaching retirement – 

to get involved in volunteer work, to prepare them for listening to and 

supporting people with disabilities, the Foundation and Groupe SEB University 

offer two training courses delivered by key partner associations – Astrée and 

IMS-Entreprendre pour la Cité. 

1987 

First Groupe SEB Corporate Foundation to support 

a project in Tramo, a slum in the suburbs of Manila 

in the Philippines, home to 25,000 people susceptible 

to malnutrition and hygiene problems

Close to 24,000 Group products 

handed over to ADN in 2012 

67 

SUSTAINABLE 

DEVELOPMENT 

Donating products in the name of solidarity 

Made-to-measure products 

Groupe SEB has supported the Agence du Don en Nature (Gifts 

in Kind Agency - ADN) right from the start. This agency distributes non-food 

products to 350 associations in France. More than half of the Foundation's 

budget for product donations goes to ADN. In 2012, volunteers from the Group 

also supported ADN in a project to expand its field of action to the Lyon region 

(France). 

Groupe SEB product kits have also been handed over to the Habitat et 

Humanisme organisation to equip accommodation for people in difficulty. These 

people also receive regular visits from Group volunteers. In 2013, volunteers 

will be able to get involved as mediators at Chorus in Lyon, an intergenerational 

residence serving the community, to encourage residents to listen 

to and help each other. 

The Groupe SEB Foundation is in touch with the requirements 

of all communities and helps by supplying specific product solutions. For 

several years now, Tefal has been supplying infant weighing scales to the NGO 

Pesinet, which is working to reduce infant mortality rates in Sub-Saharan 

Africa. In 2012, the Foundation financed the development of a device, which 

avoids having to use the infant weighing scales on the ground and provides 

them with effective and lasting protection. 

In France, the Foundation supports the Institute of Vision, the leading research 

centre into eyesight disorders, for a project carried out jointly with ENSCI 

- Les Ateliers*. This project is about getting design students to work on 

developing a kitchen that is accessible to everyone, including the visually 

impaired. 

* Higher National School for Industrial Creation (Paris) 

colombia: 

Supporting the Social entrepreneurShip of the "tinteroS" 

The number of "tinteros", street coffee sellers in Colombia, is estimated at almost 30,000. 

80% of them use Imusa Thermos flasks made in Copacabana. To support them and help them to 

improve their quality of life, which is often precarious, Groupe SEB Colombia has launched several 

campaigns - dental care campaigns, buying school supplies for children, training, setting up cooperatives 

etc. Teams have also come up with a Thermos model that is better adapted to their requirements, 

to help them keep coffee hot for as long as possible, as well as a special transport trolley and a folding chair. 

The Copacabana site now supports 2,000 tinteros and their families.

68 

SUSTAINABLE 

DEVELOPMENT 

Balanced nutrition 

for everyone 

Groupe SEB's commitment to a balanced diet has resulted 

in a major new campaign for the Foundation. The Foundation is 

supporting the NGO Care, which is managing a project with the Groupe SEB 

subsidiary in Brazil. Employees are getting actively involved in setting up 

an educational programme to teach children and teenagers about sustainable 

development and healthy eating. 

In France, two major programmes for combating malnutrition amongst disadvantaged 

people are currently being developed. One of these has been set up 

Communautés 

www.fondation.groupeseb.com 

in 34 "solidarity" food shops in the ANDES network to bring parents and 

children closer together as they prepare healthy meals to share. The other is 

to support Fondalim centres providing food aid, in particular in social centres 

in the Burgundy region of France. Volunteers from the Groupe SEB Foundation 

help to organise cookery workshops, which promote healthy eating habits and 

create social or even family ties. Recipe cards, developed in collaboration with 

the chef Bruno Blancho from the Cookery Workshop at the Group's Selongey 

site, are handed out so that people can cook at home. 

In the United States, All-Clad is supporting Michelle Obama's "Chef's Move to 

School" programme combating obesity amongst young people: 1,000 kitchen 

equipment sets have been donated, whilst chefs provide nutritional advice for 

people working in schools. 

Une entreprise 

citoyenne du monde 

care brazil teacheS young people about healthy eating 

According to the Ministry of Health in Brazil, only 30% of the population eat enough fruit and vegetables. 

This is leading to problems such as obesity, high blood pressure and diabetes, especially amongst young people. 

Aware of this increasing problem, Groupe SEB Brazil has made it a key part of its corporate philanthropy 

policy. Supported by the Groupe SEB Foundation, the subsidiary is involved in the CARE* programme for 

teaching about healthy eating in Brazil. This project involves training young volunteers in issues concerning 

the environment and food so that they in turn can raise awareness amongst school children and their 

families. With the help of games developed with Group employees, they are involved at six state schools in 

São Paulo. The objective is to get 180 volunteers and 3,000 children involved over a three-year period. 

* An international aid organisation set up in 1946 with the objective of combating poverty.

A cookery school is set up 

for eight apprentices at Auteuil 

Foundation, Lyon-Confluence, France. 

Employees at Groupe SEB Korea celebrate Christmas 

with 85 disadvantaged children. 69 

SUSTAINABLE 

DEVELOPMENT 

A helping hand for equal opportunities 

In eastern China, Supor helped to open two new schools in 2012 

(bringing the total to 12 since 2006), fitting out their canteens and libraries. 

An increasing number of employees are getting involved, providing individual 

support or teaching assistance. 

In France, Groupe SEB works alongside public authorities and other 

companies to support the "100 opportunities 100 jobs" scheme, which aims 

to fulfil an area's economic requirements, whilst also helping to re-establish 

equal opportunities for young adults from sensitive neighbourhoods. 

Group employees are also continuing to provide individual support in associations 

such as Nos Quartiers ont des Talents, the Télémaque Institute and 

the network of ”Missions locales” (access points for employment and social 

services). 

Group sites often open their doors to educational establishments, be it 

as part of work experience campaigns, careers advice or raising girls' 

awareness of jobs in industry such as the pilot scheme "Déployons Nos 

Elles" carried out in partnership with the French Ministry of Education. 

Involving consumers in sharing schemes 

With the aim of sharing its commitments to corporate 

responsibility with consumers, Groupe SEB has set up cause-related marketing 

campaigns - part of the sales price of a product is donated to an organisation. 

In the UNICEF-Tefal campaigns, for each product sold Tefal donates €1 or more 

to this charity for its programme for combating malnutrition in various regions 

worldwide. The first two campaigns, carried out since September 2010 in 

19 countries, resulted in donations of more than a million euros. In 2011-2012, 

a number of subsidiaries became involved - in Finland, France or Turkeythrough 

a wide-scale advertising campaign, which took the scheme to a new 

level. A third campaign covering multiple products has already begun and will 

continue in 2013. 

In the same vein, the Panex brand in Brazil and Extra hypermarkets are 

donating a sum for every cooking utensil sold to the AACD, an association 

providing aid to disabled children. 

Beyond corporate philanthropy... 

The Group has increased its initiatives in the field of economic 

integration: 

- In France with the signing in 2012 of the CNEI* pact for integration and 

employment; the development of industrial sub-contracting to social 

integration enterprises and adapted enterprises (disabilities); the introduction 

of social clauses in invitations to tender; the national partnership with the 

network of temping agencies Groupe Id’ées / Adecco etc. 

- And also worldwide, with long-term partnerships with representatives of the 

social economy, in Brazil, the United States and Colombia, in the fields of 

assembly, recycling and reconditioning products and components. 

* National Council of social integration Companies

70 

SUSTAINABLE 

DEVELOPMENT 

Consumer awareness of the environment, health and well-being is a defining trend in markets served 

by Groupe SEB. Staying in tune with these aspirations, the Group uses its powers of innovation 

to develop high-performance and high-quality products, which are durable, repairable and recyclable. 

Being influenced 

by a changing 

world Groupe SEB's innovation strategy focuses on the end user 

and aims for products without any compromise in terms of 

performance, quality, service life and safety. Sustainable development, clearly 

identified as a driver behind innovation, covers energy efficiency, acoustic 

performance, recyclability, new materials etc. Support for the ageing population 

and the accessibility of products are also taken into account in Group’s policy 

of responsible innovation. 

Responsible products 

The sustainable development dimension, which benefits 

consumers as well as our planet, is expressed in a large number of Group 

products. These products encourage "home cooking" and a balanced diet, 

whilst also saving time; the Rowenta Eco Intelligence range and fans from Arno 

and Asia Fan use less energy; Silence AC hair dryers are quieter and offer user 

comfort etc. 

A unique international guarantee 

in 60 countries 

Quality, an essential part of durability 

The quality of products determining their service life is a permanent 

priority for Groupe SEB. The results are clear - between 2011 and 2012, 

the rate of defective products leaving the factory was reduced by 30%, which 

also cut the number of products returned to the After-Sales Service and 

associated costs. New procedures and equipment have made production more 

reliable. To reduce the risk of producing sub-standard quality right from the 

development stage, a "Quality toolbox" of new assessment devices with 

objective guidelines was created and rolled out to Group employees in 2012. 

More repairable products 

A product's service life can be extended through repair. A pioneer in this field, 

Groupe SEB encourages a reduction in the number of exchanged products by 

investing in their repairability. In 2012, 73% of products launched were fully 

repairable and 93% were partially repairable. From 2013 onwards, those 

involved in product design (Purchasing and Development teams) will be given 

an objective of achieving full repairability. 

creation of the centre for european nutrition anD health 

Groupe SEB joined forces with the Rhône-Alpes Research Centre for Human Nutrition, the Bullukian Foundation, the Mérieux 

Institute, the CarMeN laboratory, the Paul Bocuse Institute, Nutrisens and Roquette to set up the Centre for European Nutrition 

and Health. Based in Lyon, the Centre aims to coordinate research organisations worldwide and manufacturers in the food 

and pharmaceutical industries to develop scientific responses to health issues associated with nutrition. It will eventually 

offer a full range of services, state-of-the-art technologies and made-to-measure training programmes delivered by experts 

recognised worldwide.

Since 2009, the global rate of return for products 

under guarantee decreased by around 40% 

71 

SUSTAINABLE 

DEVELOPMENT 

More products repaired 

The preliminary diagnosis now carried out on products returned 

under guarantee with a view to repairing them has improved the rate of 

products repaired rather than exchanged: 66% in 2012 in the countries that 

were assessed, compared with 64% in 2010. 

For the period outside of warranty, the Group has set up some incentives. From 

2013 onwards, 36,000 different spare parts will be available for 7 to 10 years 

(5 years in 2011) and their price will continue to be cut by 20 to 30%. These 

price cuts will also benefit consumers buying spare parts, accessories and 

consumables directly (2,000 items available in a number of countries through 

the website www.accessories.home-and-cook.com). A consolidation platform, 

set up in Hong Kong, will reduce the time and cost of supplying spare parts 

from Asia. At the same time, the network of approved repair centres is 

becoming denser: 6,500 in total, of which 2,800 are in China. 

Involving consumers in recycling 

The sustainable development dimension of a product increases 

in value throughout its lifecycle and that of its components. In addition to its 

involvement in collecting and recycling networks organised at state level 

(eco-organisations in Europe), Groupe SEB is also exploring additional methods. 

For example, at E. Leclerc stores in France in 2012, consumers received a 

voucher in exchange for their old pots and pans to spend on a product from 

the Natura (Tefal) range of recycled aluminium products. This collection, 

financed by Groupe SEB, enabled the Eco-Systèmes organisation to recover 

and recycle almost 50,000 cookware items at the end of their lifecycle. 

Consumer safety has been 

a priority since 

the 1950’s 

repairing iS alSo about 

eDucating conSumerS 

"Each year, we receive about 400,000 appliances at our workshop in 

Saint-Nicolas, near Anvers in Belgium. We do everything we can to repair 

them instead of exchanging them because, apart from the environmental 

benefits, it also enables us to caution consumers regarding any improper 

use and to protect jobs in a small company such as ours, which only has 

10 employees. We repair about two thirds of the appliances, 95% of which 

are still under guarantee. Groupe SEB represents 65% of our business. 

The Group was one of the first to encourage repair and it gives us a lot 

of support with annual training on new products and a highly efficient 

IT system." 

Testimony 

Ann Boux, 

ETP, Belgium

72 

SUSTAINABLE 

DEVELOPMENT 

Groupe SEB maintains an approach to reducing the environmental impact of each of its products, 

throughout their entire lifecycle. By taking all the various components into account, innovation 

is given a real boost. 

Eco-design: 

A key stage 

During the creation of products, teams follow the Group's 

eco-design* guidelines, reconciling in particular the lowest use 

of resources with recyclability. In this way, the new Arno (Brazil) and Asia Fan 

(Vietnam) fans use 35% less energy with no loss of performance. As for Tefal, 

it has extended its Natura 100% recycled aluminium range to include bakeware 

and oven dishes as well as new pans. 

The new Eco-design Guide, which will be distributed in 2013 to R&D and 

marketing teams, will cover in particular the aspects of repairability, energy 

efficiency, eco-packaging and materials with a low environmental impact. 

The Group has also carried out lifecycle analysis on 95% of its product families 

(objective for 2015: 100%). 

Recyclability and end-of-life 

The potential recyclability of new products designed by the Group 

in 2012 was at almost 80% for electrical products. Cookware is made up of 

around 80% potentially recyclable materials. Processing products at the end 

of their lifecycle is facilitated thanks to eco-design, which encourages disassembly, 

recyclable materials, a limited number of materials etc. 

The Group supports various eco-organisations in Europe, including the French 

Eco-Systèmes, which it oversees. In 2012, this partner collected 7 kilos of 

electrical appliances per inhabitant and continued setting up collection points 

for small appliances (almost 5,500 by the end of 2012). 

Eco-production: Managing energy 

Testimony 

when innovation goeS hanD in hanD 

with SuStainable Development 

"In line with its eco-design policy for its products, Groupe SEB looks for 

materials that are more respectful of human beings and the environment. 

A Polymers section was therefore set up at the end of 2011 within the New 

Materials Centre in the Innovation Department. This creates a real link 

between the sectors of the Group and the various experts, suppliers or 

manufacturers that it encounters in its continuous monitoring procedures. 

This section also keeps the Group's Innovation community informed, for 

example with a newsletter and days focussing on key or innovative materials 

etc. To expand its expertise, Groupe SEB also joined the Association 

Chimie Du Végétal (Bio-based chemistry Association) in 2012, an organisation 

that aims to develop "green" chemistry in France and Europe." 

To date, 94% of the Group's industrial and logistical entities, 

excluding new acquisitions, are ISO 14001* certified. The St. Petersburg 

(Russia), Canonsburg (USA) and Supor (China) sites received their certification 

in 2012. 

Managing the consumption of resources in processes and buildings is a key 

issue. Significant progress was made in 2012 with the setting up, initially in 

France, of the "Commodity Team", in which teams from Sustainable Development 

and Purchasing promote good practices and will suggest objectives for 

reducing energy consumption as soon as the sites have undergone energy 

diagnostics (3 have already been carried out in France). 

Nathalie Pécoul, 

Polymer Materials Manager

Silence Force Cyclonic: 30% improvement 

in load rates thanks to EffyPACK 

73 

SUSTAINABLE 

DEVELOPMENT 

Eco-logistics: Managing the carbon footprint 

To improve its carbon footprint for logistics, the Group is mainly 

working on load rates and transport methods. In Mexico, for example, imports 

are gradually being transferred to a port from which Mexico can be reached 

by train rather than by road: In 2012, 50% of logistics flows were managed by 

rail, cutting greenhouse gas emissions by 42.5%. 

Finished products manufactured in China now pass through two consolidation 

platforms, which means that larger containers with better load rates can be 

used. France encourages the direct supply of customers from factories and by 

container from ports (saving CO2 and time). 

EffyPACK or just the right packaging 

The EffyPACK* indicator allows the calculation of the logistics cost 

of a product at a very early stage and the optimisation of how pallets are used 

and containers filled by adjusting the packaging dimensions. In 2012, this 

became an obligatory stage in the development of new products, being 

incorporated into the design phase. 

Testimony 

a SeconD leaSe of life 

for cookware 

"Recycling cookware items - pans, saucepans, casseroles - enables up to 

90% of the metals they are made from to be recovered. Yet these days, most 

of these items are put in the bin. This is one of the messages covered by the 

Natura project, which we carried out with Groupe SEB and E. Leclerc 

stores in France. In October and November 2012, customers brought in 

their cookware at the end of its lifecycle and received in exchange a voucher 

for a product in the Natura range, which is made from recycled aluminium. 

We were in charge of collecting the used cookware and sending 

it on for reprocessing. This innovative project allowed us to collect almost 

50,000 cookware items, which represents considerable savings in terms 

of ecology and economics." 

Christian Brabant, 

Managing Director, Eco-Systèmes 

Eco-responsible IT systems 

The IT Systems Department is also contributing to the effort, 

making energy savings of almost €150,000 thanks to the virtualisation of 

IT servers; the collection and recycling by Dataserv of more than 2,500 used 

IT and telephone devices (some of them are given a second lease of life, 

in particular in the form of donations to an association in partnership with the 

Groupe SEB Foundation); printing volume in France reduced by a further 

4% etc. 

1939 

Selongey factory 

2012 

*See glossary

74 

overview

financial overview p. 76 

social overview p. 80 

environmental overview p. 82 

75 

overviews

SEB share fact sheet 

Capital at 31/12/2012 

76 

overviews 

Stock market 

Euronext Paris, Compartiment A 

Share code 

FR0000121709 

Date of introduction May 27, 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 

at 31/12/2012 

> Number of shares 50,169,049 shares with a nominal value of €1 

> Capital €50,169,049 

Tickers 

Reuters: SEBF.PA 

Bloomberg: SK.FP 

* Capital increase from EUR 49,951,826 to EUR 50,169,049 

on 15/11/2012 following the employee shareholding plan. 

Stockmarket capitalization at 31/12/2012 

€2,795 million 

Price on 31/12/2012 €55.710 

Average price for the year €56.323 

Average of the last 30 closing prices of 2012 €54.329 

Highest price €67.850 

Lowest price €46.700 

SEB share price performance 

(from January 2011 to March 2013) 

100 

€ 

Number of shares 

1,200,000 

1,000,000 

80 

800,000 

600,000 

60 

400,000 

200,000 

40 

J F M A M J J A S O N D J F M A M J J A S O N D J F 

2011 2012 2013 

SEB CAC 40 Base adjusted Volumes 

0 

Since 2011, the SEB share has been evolving within a turbulent and volatile stock market environment, which reflects the economic crisis and a succession of news 

and prospects offering little encouragement. In 2011-2012, the SEB share suffered as a result of the wait-and-see attitude of the financial community with regard 

to companies with strong exposure in Europe and emerging markets, in particular in China. 

And so 2012 was characterised by a wave of profit-taking on the SEB Share; it therefore underperformed indices. However, this situation should be put into perspective 

following two exceptional years on the stock market in 2009 and 2010. 

At the same time, volumes exchanged were less intense than in 2011, which was a particularly active year. It should also be noted that transactions recorded 

by NYSE Euronext (graph below) only represent about half of the total exchanges for the share in 2012, the rest being carried out through other stock markets 

(Chi X, Turquoise etc.).

Analysis of change in debt 


673 – 464 

Share 

buybacks 

+4 

–3 556 

+5 +11 +6 +68 

+122 

+134 

Net cash from operating activities: €192m 

77 

overviews 

2011 debt 

Cash flow without 

restructuring 

Taxes and financial 

expense 

Investments 

WCR 

Other 

Acquisitions 

Dividend 

Restructuring 

and other 

2012 debt 

Debt ratios at 31/12 

Self-financing 

and investments 


368 398 458 490 460 

1.7 

1.3 

1.2 

0.6 

0.6 

0.3 

0.5 

0.4 

140 

131 

128 

0.2 

0.1 

116 

109 

2008 2009 2010 2011 2012 

Net debt / EBITDA 

Net debt/shareholders' equity 

2008 2009 2010 2011 2012 

Cash flow 

Investments

Consolidated Income Statement 

In € millions 

31/12/2012 

31/12/2011* 

31/12/2010* 

Revenue 

4,059.7 

3,963.3 

3,651.8 

Operating expenses 

(3,644.3) 

(3,508.3) 

(3,214.0) 

Operating Result From Activity 

415.4 

455.0 

437.8 

Discretionary and non-discretionary profit-sharing 

(48.2) 

(43.9) 

(50.4) 

Recurring Operating Profit 

367.2 

411.1 

387.6 

Other operating income and expense 

0.4 

(8.9) 

(38.5) 

Operating Profit 

367.6 

402.2 

348.9 

Finance costs 

(29.3) 

(19.1) 

(12.0) 

78 

overviews 

Other financial income and expense 

Share of profits/(losses) of associates 

Profit Before Tax 

Income tax expense 

(33.4) 

- 

304.9 

(94.2) 

(7.8) 

- 

375.5 

(113.1) 

(4.2) 

- 

332.7 

(89.4) 

Profit For The Period 

210.7 

262.4 

243.3 

Minority interests 

(16.5) 

(26.4) 

(23.2) 

Profit Attributable To Equity Holders 

194.2 

236.1 

220.1 

Earnings Per Share (in €) 

Basic earnings per share 

4.07 

4.93 

4.64 

Diluted earnings per share 

4.01 

4.81 

4.54 

Consolidated Balance Sheet 

In € millions 

31/12/2012 

31/12/2011* 

31/12/2010* 

ASSETS 

Non-current assets 

1,490.8 

1,508.8 

1,302.1 

Inventories 

681.0 

702.2 

635.5 

Trade receivables 

835.8 

828.4 

733.9 

Other receivables 

83.8 

71.6 

59.4 

Current tax assets 

41.0 

57.6 

26.8 

Short-term derivative instruments 

14.9 

7.8 

14.1 

Cash and cash equivalents 

398.7 

196.0 

236.6 

Current assets 

2,055.1 

1,863.5 

1,706.3 

TOTAL ASSETS 

3,545.9 

3,372.3 

3,008.4 

EQUITY & LIABILITIES 

Equity attributable to equity holders 

1,331.8 

1,218.3 

1,373.4 

Minority interests 

130.3 

123.4 

173.1 

Equity 

1,462.1 

1,341.7 

1,546.5 

Long-term borrowings 

653.6 

534.1 

201.8 

Other non-current liabilities 

292.5 

265.2 

236.1 

Non-current liabilities 

946.1 

799.3 

437.9 

Trade payables 

508.0 

515.6 

494.4 

Other current liabilities 

298.6 

332.1 

170.1 

Short-term borrowings 

331.1 

383.6 

359.5 

Current liabilities 

1,137.7 

1,231.3 

1,024.0 

TOTAL EQUITY AND LIABILITIES 

3,545.9 

3,372.3 

3,008.4 

*Restated for the retrospective application of IAS 19R.

Revenue breakdown 

CUSTOMERS 

€4,059.7 M 

• Western Europe: 36% (of which France: 17%) 

• North America: 11% 

• South America: 11% 

• Asia / Pacific: 24% 

• Central Europe, Russia and other countries: 18% 

• "Sourced" products represent 27% of sales 

SUPPLIERS 

€2,815.4 M 

• 1,694 suppliers* of raw materials, components and finished products, 

including a panel of 420 suppliers representing more than 59%* 

of these purchases for raw materials and components and 78%* 

for finished products 

* Integration of Supor suppliers 

STATE AND LOCAL AUTHORITIES 

€160.8 M 

79 

overviews 

• Corporation tax: €94.2 M 

• Local taxes: €66.6 M 

SHAREHOLDERS 

€67.8 M 

• Paid in 2012 for the 2011 financial year 

EMPLOYEES 

€703.4 M 

• Paid to 24,758 employees 

74% total salary 

26% social charges 

• Profit-sharing and legal profit-sharing: €36.5 M to be paid in 2013 

BANKS AND BONDHOLDERS 

€37.4M 

• Mainly financial charges linked to interest on bank loans 

RESERVED FUNDS 

€274.9 M 

• Refinancing of investments: €135.4 M 

• Variations of provisions linked to business risks: €- 3.4 M 

• Transferred to reserves: €142.9 M

Breakdown of employees by geographical zone 

Central Europe, Russia and 

other countries 

3% 

France 

24% 

80 

overviews 

Asia Pacific 

54% 

Other Western European countries 

5% 

North America 

3% 

South America 

11% 

As at 31 December 2012, Groupe SEB had 24,758 employees, 76% of which were outside France. 

Worldwide 

Breakdown of managers by gender 

% of managers 

Training budget 

as % of total payroll 

75 - 5mm 

3.1 3.3 3.6 

6.5 6.7 6.9 

2.08 3.38 2.75 

2010 2011 2012 

2010 2011 2012 

Women 

Men 

In 2012, 10.5% of Group employees were managers (18% excluding Supor). 

At the end of 2012, 34.5% of managers were female, compared with 20% in 2002. 

Worldwide 

For the first time, the data for 2012 includes the Chinese subsidiary Supor. The 

training budget was 2.75% of the total payroll for Groupe SEB in 2012. Excluding 

Supor, this figure rises to 3.06%. 

Worldwide

Lost time injuries rate* 

in % 

Number of deaths 

5.74 4.04 3.49 0 0 1 

81 

overviews 

2010 2011 2012 

2010 2011 2012 

Worldwide, the lost time injuries rate, excluding temporary workers, was 3.49 compared with 4.04 in 2011. 

There has therefore been a noticeable improvement, especially in South America, despite the death of a worker in Colombia. 

Worldwide 


Number of collective agreements signed in 2012 

Central Europe, Russia and 

other countries 

8 

Asia Pacific 

35 

South America 

10 

France 

56 

Other Western European countries 

18 

North America 

4 

131 collective agreements were signed worldwide in 2012, which is 50% more than in 2011. 

Worldwide 

Information on this double page do not include Maharaja Whiteline (India).

TransporT-relaTed Co2 emissions 

The carbon footprint linked with the transport of products, raw 

materials and components was estimated at 216,551 metric 

tonnes equivalent CO2 for 2012. This has therefore decreased in 

relation to 2011 (-13 %), in spite of the increase in turnover. This 

data covers a worldwide range, excluding Maharaja Whiteline. 

82 

overviews 

Use of direct raw materials for finished 

products manufactured 

Metals: 77,965 metric tonnes 

of which motors: 24,556 metric tonnes 

Plastics: 46,500 metric tonnes 

Packaging: 29,012 metric tonnes 

Use of indirect raw materials for 

processes, buildings and employees 

Liquid gas: 729.8 metric tonnes 

Natural gas: 171.9 gWh 

Electricity: 167.5 gWh 

Fuel excluding transport fuel: 31.2 m 3 

Water: 1,021.9 thousand m 3 

Finished products 

89,195,570 finished products manufactured, excluding sourced products, in 2012 

Finished electrical products and cookware manufactured in 2012 potentially 79.9% recyclable 

73% of products sold in 2012 were fully repairable and 93% partially repairable 

Use of resources, by finished product manufactured 

Gas (kWh) 

Electricity (kWh) 

Water (l) 

2010 

1.92 

1.76 

11.09 

2011 

1.64 

1.76 

11.68 

2012 

1.93 

1.88 

11.46

Diagram of impact 

on the environment 2012 

Coverage: Entities covered by ISO 14001 certification. 

Which represent 94.1% of industrial and logistics entities in the Group, excluding new acquisitions. 

The data for Supor (China) and St. Petersburg (Russia), sites which have recently been certified, 

has not been taken into account in this diagram. 

Emissions 

Atmospheric emissions: 65,093 metric tonnes equivalent CO 2 

Total of direct (produced by burning fossil fuels) and indirect (from the purchase 

of electricity) CO 2 emissions. 

Quantity of COD (Chemical Oxygen Demand*) discharged into water by our own 

water treatment plants: 38.6 metric tonnes. 

83 

overviews 

Waste 

Non-hazardous waste: 14,460 metric tonnes 

of which 80.8% goes through a recycling network 

of which 7.6 % goes into energy production 

Hazardous waste: 1,272 metric tonnes 100% reprocessed according to current regulations 

Metal waste: 7,650 metric tonnes 

Waste Electrical and Electronic Equipment: 317 metric tonnes 

Water treatment sludge: 4,022 metric tonnes 

* See glossary

84 

glossary 

Accident severity rate: Number of working days lost, per 1,000 

hours worked. 

Attention Safety Flash: Automatic internal notification system 

following each accident. 

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. 

COD: Chemical Oxygen Demand, represents the necessary quantity 

of oxygen to oxidise all organic matter contained in water. This data is 

representative of organic and chemical pollution. 

CSR: Corporate Social Responsibility, concept under which businesses 

take into account social, environmental and economic issues in their 

business activity and in their interactions with their stakeholders on a 

voluntary basis. 

Diversity Charter: A document that encourages French companies 

to promote workforce diversity and to combat all forms of discrimination. 

Eco-design: Design that seeks to minimize 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. 

EcoMundo: An enterprise specialising in conformance to regulations 

on chemical substances (REACH). 

EffyPACK: "Packaging system for supply chain efficiency", a project 

which aims to include dimension constraints in product design and 

packaging to optimize palette loading for transport. 

Global Compact: United Nations pact promoting ten principles 

covering human rights, labour law, the environment and anti-corruption. 

GRI: "Global Reporting Initiative", an international multiparty organisation 

that develops and disseminates guidelines for voluntary sustainable 

development reporting. This reference document indicators has now 

become an internationally recognised standard. 

HRCA Quick Check: 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. 

LCA: Lifecycle Analysis, measurement of the necessary resources 

to develop a product, monitoring the quantification of the potential impact 

of this manufacturing on the environment. 

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. 

Lost time injuries rate (LTIR): Number of work accidents 

with absence, per million hours worked. In this document, the lost time 

injuries rate does not include temporary workers. 

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. 

Responsible Purchasing Charter: Group specifications for 

its suppliers concerning the respect of ethical, social and environmental 

principles. 

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.

CONTACTS 

www.groupeseb.com 

Financial 

Communications Department 

comfin@groupeseb.com 

+33 (0)4 72 18 16 40 

@Groupe_SEB 

Sustainable 

Development Department 

sustainabledevelopment@groupeseb.com 

+33 (0)4 72 18 16 25 

www.groupeseb-sustainabledev.com 

Shareholders Department 

shareholders@groupeseb.com 

+33 (0)4 72 18 16 01 

SEB Securities Department 

BP2S – Corporate Trust Services 

Paris.bp2s.registered.shareholders@bnpparibas.com 

+33 (0)1 57 43 90 00 

https://planetshares.bnpparibas.com 

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 interviewed: 

- Ann Boux, Head of the repair centre ETP (Belgium) 

- Christian Brabant, President of Eco-Systems 

- Martine Léonard, President of the SFAF sustainable development commission; Head of analysis and 

SRI management at CM-CIC Asset Management 

- Camille Querleu, Head of the corporate responsibility audit centre at SGS 

- Gilles Rabergeau, Associate Director of the consultancy firm Etscaf 

- Bill Telepan, Head Chef, Telepan restaurant (United States) 

The number of pages in this report has been reduced to limit paper consumption. Certain information, 

particularly relating to sustainable development, has been summarized. 

This report is 100% recyclable and has been printed on FSC certified Cocoon Silk recycled paper. 

The printer is environmentally certified by Imprim’vert (environment protection charter). 

Design and production: 

+33 (0)1 56 88 11 11 – Art Direction: Bruno Marquette 

Compilation: Groupe SEB – Françoise MOINET – Christiane RONGIARD – Translation: Caupenne & Co 

Photos: Groupe SEB – Besnard / Apprentis d’Auteuil – Esteban Escobar/Gamma Eyedea – jjbphotographerie – Eduardo Martino/Gamma Eyedea – Pierre Orssaud Philippe Schuller 

Lilo Careto – Dixdix-PHOTO OJO – Gettyimages - Xavier Arnau, Kemal Bas, George Doyle, JGI/Jamie Grill – Jupiterimages, Goldmund Lukic, Rene Mansi – Pict rider-Fotolia.com 

Illustrator: Artur Rainho 

Printing: Typocentre 03 Montluçon +33 (0)4 70 06 22 22

Les 4 M - Chemin du Petit Bois - BP 172 

69134 Ecully Cedex France 

Tel: +33 (0)4 72 18 18 18 

www.groupeseb.com

Download the file. - Groupe Seb

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?