Result Down in 2025 Launch of a Plan to Return to Our Profitable Growth Trajectory

The Consumer business recorded sales of €7,175m, an organic increase of 1.1% (-1.6% on a reported basis), with contrasting trends by geography:

• in EMEA, a moderate increase (+2.0% LFL; +2.8% excluding loyalty programs), reflecting growth in almost all Western European markets, partially offset by an underperformance in Germany,
• a return to organic growth in Asia (+2.7%), driven in particular by China, in a broadly stable market in 2025,
• in the Americas (-4.9% LFL), a year marked by the direct and indirect effects of the changes in tariffs in North America, and by the negative impact of the La Niña climate phenomenon on fan sales in South America.

By product line, there was a favorable momentum in cookware and kitchen utensils, floor care and linen care, supported by product innovation. Business was more mixed in kitchen electrics. By distribution channel, online sales rose by around 10% LFL, supported in particular by Direct-to-Consumer (DTC).

The Professional business fell 5.9% LFL, penalized by a particularly high comparison base in the 1^st half of 2024. This activity, however, stabilized in the 2^nd half of 2025.

In the 4^th quarter, Group’s revenue stood at €2,506m, showing organic growth of 0.9% and reflecting the normalization of the Professional business and a gradual improvement in the situation in North America.

BREAKDOWN OF REVENUE BY REGION – 2025

Unaudited figures

EMEA – WESTERN EUROPE

Sales in Western Europe for the year were up 1.0% LFL and on a reported basis. Revenue fell by 1.6% LFL and by 1.8% on a reported basis in the 4^th quarter.

Over the year, sales were up in almost all Western European markets – notably in France, excluding loyalty programs. Sales in Germany, on the other hand, were below expectations, with revenue down, having been notably impacted by the decline in electrical cooking.

Overall, the Group maintained its market share in 2025 in this region thanks to continued very good innovation dynamics in cookware, floor care (especially washers), linen care (spot cleaners and garment steamers) and blending.

Some core categories are nevertheless less buoyant, including grills and multicookers, despite a reversal in momentum in the latter toward the end of the year thanks to the launch of the new Cookeo Infinity.

EMEA – OTHER COUNTRIES

Revenue in other EMEA countries increased by 3.9% LFL over the year and by 1.1% on a reported basis. Sales increased by 7.8% LFL and by 6.1% on a reported basis in the 4^th quarter.

Eastern Europe posted growth of around 10% LFL over the year, driven in particular by double-digit increases in growing markets such as Poland and the Czech Republic. Sales of oil-less fryers and full auto coffee machines were particularly dynamic, as well as the launches of spot cleaners and washers.

Turkey reported an increase in annual sales. This growth was driven by key categories such as cookware, linen care and floor care, notably in the online segment.

Throughout the year, Africa and the Middle East continued to be significantly disrupted by the geopolitical context.

AMERICAS – NORTH AMERICA

In 2025, sales in North America fell by 4.5% LFL (-9.7% on a reported basis), penalized by an environment disrupted by changes in tariffs in the United States and by the retailers wait-and-see attitude in the 2^nd and 3^rd quarters (-11.5% and -14.4%, respectively). In the 4^th quarter, the business nevertheless returned to organic growth of 4.7%, reflecting a gradual market normalization and a better balance between sell-in and sell-out levels.

In the United States, in a still uncertain consumer environment, the Group consolidated its positions in cookware and linen care. All-Clad, in particular, continued to gain momentum, driven by the vitality of the high-end stainless-steel segment and the strengthening of local industrial capacity.

In Mexico, the year was marked by high volatility amidst a less favorable monetary environment. The Group has nevertheless continued to grow its online sales while maintaining strong positions in its key categories. The expansion of the product portfolio continued, with the launch of garment steamers in linen care and oil-less fryers in electrical cooking, as well as an entry into the floor care segment.

AMERICAS – SOUTH AMERICA

Sales in South America fell by 5.9% LFL (-11.9% on a reported basis), mainly due to the impact of a sharp decline in fan sales linked to the La Niña climate phenomenon. Business remained down in the 4^th quarter (-7.8% LFL), with demand remaining subdued in the fan category, particularly in Brazil.

In Colombia, with a double-digit annual organic growth, the Group reaffirmed its multi-category leadership and continued to expand its portfolio, particularly in floor care. Excluding fans, performance was very strong across all categories. Positions were strengthened in cookware, blenders and coffee, supported by innovation and particularly effective digital activation.

ASIA – CHINA

In China, the Group’s sales rose 2.7% LFL in 2025 to reach €1,881m (-1.3% on a reported basis). In the 4^th quarter, revenues hit €492m, representing organic growth of 1.0% over the period.

2025 thus marked the Group’s return to organic sales growth in China, in a broadly stable market over the year. Product launches such as rice cookers (stainless-steel bowl), titanium woks and garment steamers have been highly successful. Supor reaffirmed its leadership in kitchen electrics and cookware, in both offline and online segments.

Supor is also positioned as the number one culinary brand on Social Commerce platforms, including Douyin (TikTok), which are expanding very rapidly in China. Supor’s revenue via these channels represents around 25% of its online sales.

ASIA – OTHER COUNTRIES

The Group’s sales in Asian countries excluding China increased by 2.5% in 2025 LFL to reach €472m

(-2.1% on a reported basis). Revenue for the 4^th quarter was €135m, down 1.8% LFL.

Performance in this region has been quite heterogeneous, depending on the markets and product categories.

Cookware and kitchen utensils (mainly knives) drove overall performance, especially in Japan, where sales returned to organic growth in 2025. The Small Domestic Appliances market remained challenging in South Korea, where sales were down.

The other countries in the region (Southeast Asia) showed good momentum overall, supported by an expansion of the retail distribution network and developments in new categories.

PROFESSIONAL

The Professional business posted annual sales of €995m, down 5.9% organically. On a reported basis, sales grew by 2.1% due to a positive scope effect, which mainly related to the acquisition of La Brigade de Buyer in early 2025. Revenue for the 4^th quarter remained almost stable organically (-0.1%) and increased by 6.7% on a reported basis.

The 1^st half of 2025 was marked by a particularly high comparison base from H1 2024 linked to a large Coffee contract in China. This activity, however, stabilized in the 2^nd half of 2025. Indeed, there was good momentum for machine deliveries in Germany and China, and services posted strong growth. The Group continued its geographical diversification with a double-digit increase in sales in Eastern Europe and the Middle East. Performance was tempered by clients wait-and-see attitude in the United States .

Finally, the Group integrated La Brigade de Buyer, whose sales growth in 2025 was driven by high-end stainless steel and online sales.

OPERATING RESULT FROM ACTIVITY (ORfA)

In 2025, the Group achieved an ORfA of €601m, in line with its revised outlook in October butdown 25% compared to 2024. The Operating margin thus stood at 7.4% of sales, compared to 9.7% the year before.

The decline in ORfA in 2025 is explained by a combination of various factors, including major cyclical headwinds:

• the strengthening of the euro and the volatility of emerging countries’ currencies had a negative impact of almost €40m over the year,
• the direct and indirect effects of tariffs in the United States causeda decline in results of around €40m in North America,
• the particularly high comparison base in Professional Coffee in H1 2024 explains the drop of €40m in its contribution, which was concentrated in the 1^st semester.

These effects gradually faded in the 4^th quarter, and Q4 ORfA amounted to €334m, down 6.7% compared to Q4 2024. The operating margin amounted to 13.3%.

Furthermore, the Group strengthened its investments in growth drivers in 2025 to support a year rich in product launches, although the organic sales growth was insufficient compared to its ambitions.

OPERATING PROFIT

Operating Profit stands at €502m, compared with €540m in 2024. It includes a profit-sharing expense of -€18m (compared with -€33m in 2024), along with increases in other income and expenses, reaching -€81m. The latter includes provisions related to the implementation of the Rebound plan for -€24m.

The net financial result for 2025 stands at -€132m (-€120m in 2024). The tax expense is -€87m, with an effective tax rate of 23.6%, following a temporary rise to 32.7% in 2024 due to the non-deductibility of the provision covering the fine imposed by the French Competition Authority. The charge relating to non-controlling interests (mainly Supor) is down at -€38m (compared to -€51m in 2024).

Net profit attributable to owners of the parent is thus €245m, vs. €232m in 2024.

BALANCE SHEET AND CASH FLOW

As of 31 December 2025, consolidated shareholders’ equity stands at €3,477m, down compared to the end of 2024 (€3,540m).

Net debt is €2,342m as of 31 December 2025 (including €318m in IFRS 16 debt), up €416m. This evolution can be explained by:

• ORfA down €201m in 2025 to €601m;
• free cash flow generation of €337m in the 2^nd half of the year, after free cash flow consumption of €213m in the 1^st half of the year (i.e. €124m full-year compared to €260m in 2024), including mainly over the year:
  1. an increase in operating WCR of €104m, reflecting the continued impact of disruptions in the Red Sea (continuing to represent an impact of 0.6 points on the WCR), as well as phasing effects on trade payables;
  2. CAPEX of €324m, including €111m related to IFRS 16, reflecting some major investment projects (including the Professional Coffee hub in China).
• The inclusion of acquisitions for €121m (mainly La Brigade de Buyer), and dividends paid in the amount of €207m;
• The disbursement of €189.5m related to the payment of the fine imposed by the French Competition Authority.

Excluding the impact of this fine, net debt as of 31 December 2025 would amount to €2,152m vs. €1,926m at the end of 2024.

With an adjusted EBITDA down 18% in 2025 at €854m, the net debt/adjusted EBITDA ratio is up, at 2.7x (2.5xexcludingpayment of the French Competition Authority fine).

DIVIDEND

Meeting on 24 February 2026, the Board of Directors proposed the distribution of a dividend per share of €2.80 in respect of fiscal year 2025, stable compared to the dividend paid in 2025 in respect of fiscal year 2024.

For shareholders having held registered shares for more than two years, the dividend will be increased by a loyalty premium of 10%, taking the total dividend to €3.08 per share (for holdings below 0.5% of the capital for a single shareholder).

The dividend amount will be submitted to the Group’s shareholders for a vote at the Annual General Meeting to be held on May 12, 2026, with the coupon detachment date set at May 20, 2026 and the dividend payment date at May 22, 2026.

EXTRA-FINANCIAL PERFORMANCE

In 2025, Groupe SEB was awarded a double A- rating by the Carbon Disclosure Project (“CDP”) across two areas: confirmation of the Climate rating and 1^st rating on the theme of Water. This result places the Group at CDP Leadership level. CDP is an international benchmark that measures organizations’ environmental performance, transparency of reporting and ability to manage their impacts.

The Group’s ESG performance has also been recognized by the main extra-financial rating agencies, as evidenced by the Group’s improved ratings in 2025 from key reference players such as MSCI, S&P or Sustainalytics.

REBOUND PLAN

Our environment is undergoing profound transformations that intensified in 2025: acceleration of innovation cycles, transformation of brand-consumer relationships, shift in go-to-market strategy and increasing importance of sustainability.

In 2026, we are launching a major project – the Rebound plan – aimed at returning to a profitable growth trajectory. This plan is based on clear priorities:

• develop faster launches and more impactful product innovation,
• systematize our new digital marketing practices and accelerate online sales,

• taking full advantage of the new possibilities offered by artificial intelligence.

The Rebound plan also includes a targeted savings program of €200m, at run-rate by end of 2027, to simplify our organization and boost our operational agility. This is based on three main pillars: reducing indirect purchases, improving industrial efficiency, and optimizing overheads.

Implementing the Rebound plan would impact up to 2,100 positions worldwide. In Europe, up to 1,400 positions would be affected, including potentially 500 in France on a voluntary basis.

The provisions related to the plan will mainly be recognized in 2026, while the disbursements will mostly occur in 2027. The one-time plan cost is estimated to range between 1 and 1.25 times the targeted recurring annual savings.

OUTLOOK

The Group anticipates a growth in ORfA in 2026, together with a more normative free cash flow generation. This will be accompanied by a lower financial leverage³ in 2026, with the objective of returning to the Group’s standards of around 2x (excluding acquisitions) by 2027.

The Group confirms its medium term ambition, supported by the strengths of its strategic model and the implementation of the Rebound plan: return to its historical trajectory, targeting 5% annual organic sales growth and an operating margin of 10%, then progressing toward 11%.

The consolidated and company financial statements for Groupe SEB at 31 December 2025 were approved by the Board of Directors on 24 February 2026.

CONSOLIDATED INCOME STATEMENT

CONSOLIDATED BALANCE SHEET

CONSOLIDATED CASH FLOW STATEMENT

GLOSSARY

On a like-for-like basis (LFL) – Organic

The amounts and growth rates at constant exchange rates and consolidation scope in a given year compared with the previous year are calculated:

• using the average exchange rates of the previous year for the period in consideration (year, half-year, quarter)
• on the basis of the scope of consolidation of the previous year.

This calculation is made primarily for sales and Operating Result from Activity.

Operating Result from Activity (ORfA)

Operating Result from Activity (ORfA) is Groupe SEB’s main performance indicator. It corresponds to sales minus operating costs, i.e. the cost of sales, innovation expenditure (R&D, strategic marketing and design), advertising, operational marketing as well as distribution and administrative expenses. ORfA does not include discretionary and non-discretionary profit-sharing or other non-recurring operating income and expense.

Sell-in (sales)

Sales made to our customers (retailers).

Sell-out (resales)

Sales made by retailers to consumers.

Adjusted EBITDA

Adjusted EBITDA is equal to Operating Result from Activity minus discretionary and non-discretionary profit-sharing, to which are added operating depreciation, amortization and impairment.

Free cash flow

Free cash flow corresponds to adjusted EBITDA, after accounting for changes in operating working capital, recurring capital expenditure (CAPEX), taxes and financial expenses, and other non-operating items.

Net financial debt

This term refers to all recurring and non-recurring financial debt minus cash and cash equivalents, as well as derivative instruments linked to Group financing. It also includes debt from application of the IFRS 16 standard “Lease contracts” in addition to short-term investments with no risk of a substantial change in value but with maturities of over three months.

Loyalty program (LP)

These programs, led by the distribution retailers, consist in promotional offers in a product category to loyal consumers who have made a series of purchases within a short period of time. These promotional programs allow distributors to boost footfall in their stores and our consumers to access our products at preferential prices.

This press release may contain certain forward-looking statements regarding Groupe SEB’s activity, results and financial situation. These forecasts are based on assumptions which seem reasonable at this stage, but which depend on external factors including trends in commodity prices, exchange rates, the economic climate, demand in the Group’s large markets and the effect of new product launches by competitors.

As a result of these uncertainties, Groupe SEB cannot be held liable for potential variance on its current forecasts, which result from unexpected events or unforeseeable developments.

The factors which could considerably influence Groupe SEB’s economic and financial results are presented in the Annual Financial Report and Universal Registration Document filed each year with the Autorité des Marchés Financiers, the French financial markets authority. The balance sheet and income statement included in this press release are taken from the consolidated financial statements as of 31 December 2025 approved by the Board of Directors of SEB S.A. on 24 February 2026. These consolidated financial statements have been audited. The certification report is currently being issued.

This press release may contain individually rounded data. The arithmetical calculations based on rounded data, in euros or percentage, may present some differences with the aggregates or subtotals reported.

Webcast and conference call with management on 25 February at 10:00 a.m. CET

Click here to access the webcast live(in English only)

Replay available on our website
on the day: www.groupeseb.com

or dial one of the numbers below to take part in the conference call (in English):
From France: +33 (0) 1 7037 7166 – Password: SEB
From the United States: +1 786 697 3501 – Password: SEB
From other countries: +44 (0) 33 0551 0200 – Password: SEB

A question and answer session will be accessible via the webcast (written questions)
or the conference call (oral questions)

NEXT KEY DATES – 2026

23 April | after market closes 2026 1^st-quarter sales and financial data

12 May | 2:30 p.m. Annual General Meeting

22 July | after market closes 2026 1^st-half sales and results

22 October | after market closes 9-month 2026 sales and financial data

Find us at www.groupeseb.com

World reference in Small Domestic Equipment and professional coffee machines, Groupe SEB operates with a unique portfolio of over 40 top brands (including Tefal, Seb, Rowenta, Moulinex, Krups, Lagostina, All-Clad, WMF, Emsa, Supor), marketed through multi-channel retailing. Selling more than 400 million products a year, it deploys a long-term strategy focused on innovation, international development, competitiveness, and client service. Present in over 150 countries, Groupe SEB generated revenue of €8.2bn in 2025 and has 32,000 employees worldwide.

SEB S.A.

¹ LFL: at constant exchange rates and consolidation scope (organic)

² Adjusted net profit of €422m in 2024, restated for the provision covering the fine imposed by the French Competition Authority

³ Net debt / adjusted EBITDA

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