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Hindustan Times
7 hours ago
- Science
- Hindustan Times
Lakshadweep's coral cover halved in 24 yrs
A 24-year-long study of corals in the Lakshadweep archipelago has found a 50% decline in coral cover compared to 1998 as a result of repeated marine heatwaves, exacerbated by climate change. The study published in the journal of Diversity and Distributions said this decline was explained by reduced recovery rates after each bleaching event, despite coral mortality decreasing with successive events. The paper concluded that the fate of corals in Lakshadweep will be determined by the return time of bleaching events. (HT photo) The paper concluded that the fate of corals in Lakshadweep will be determined by the return time of bleaching events, underscoring that urgent climate action is critical to secure the ecological integrity of tropical reefs. The scientists leading the study, including Rohan Arthur and Mayukh Dey from the Oceans and Coasts Programme of Nature Conservation Foundation concluded that 'the one thing reefs need to recover is time'. 'Without a pause in the frequency of marine heatwaves, whatever resilience tropical reefs have is likely to be short lived. Our results show that fewer corals die simply because less is available to die in later years,' they added. 'In the long run, we must call the crisis by its name and acknowledge that the integrity of tropical reefs, like the rest of global biodiversity, cannot sustain the seemingly impervious logic of the prevailing economic order. Without scale-appropriate radical policies, laws, and actions to address these ultimate causes, anything we do locally for reefs will be symptomatic and palliative fixes,' the scientists said. Lakshadweep Archipelago has 12 coral atolls in the northern Indian Ocean. The archipelago is among the most densely populated atoll systems globally with 10 populated islands, with more than 2000 people/sq km. Lakshadweep has experienced three marine heatwaves associated with the El Niño phase of the ENSO phenomena in 1998 (5.3 Degree Heating Weeks, DHW), 2010 (6.7 DHW) and 2016 (5.2 DHW), with 2010 being the most severe of the three. Hindustan Times, in a series on Lakshadweep published last year reported how the islands experienced a severe bleaching event in 2024. The heat stress in Lakshadweep (Laccadive Sea) and in Southeast India was record-setting in 2024 according to Derek P Manzello, Coordinator, NOAA Coral Reef Watch. The metric used to gauge heat stress on corals is called Degree Heating Weeks (DHW). DHW shows how much heat stress has accumulated in an area over the past 3 months. In 2024, Lakshadweep reached 9.2 DHWs, whereas SE India reached 9 DHWs. The prior record for Lakshadweep was 6.7 DHW in 2010, and it was 6.9 DHW for SE India in 2016, said Manzello. Since 1998, researchers from the Nature Conservation Foundation have been tracking reef conditions at three atolls across the Lakshadweep Archipelago , Agatti, Kadmat and Kavaratti , to understand how reefs respond to climate change. This monitoring programme has monitored reefs as they declined and recovered from three major El Niño Southern Oscillation (ENSO) events — in 1998, 2010 and 2016. The data was analysed to explore if changes in the composition of coral could be explained by the number of heatwaves experienced and by more local factors, such as seasonally strong wave action and depth at which corals are found. The team also found that these results challenge the simplistic narrative that all coral reefs respond in a similar fashion to climate change, and are universally doomed. Even within a small archipelago like Lakshadweep, there is a large variability in responses -- sometimes in reefs only a few kilometres apart. 'The Lakshadweep reefs have been home to me since I first dived here as a young researcher. To see these diverse ecosystems decline before my eyes is soul-destroying. Our findings are a bittersweet offering. On the one hand, it shows me that the reef is more complex and more resilient in its responses than I could ever have imagined it to be the first time I saw it bleaching in 1998. On the other hand, I realise that we have a limited window to change the narrative on tropical reefs. Without real and considered action on climate change, the reefs of Lakshadweep could well be functionally extinct in my lifetime -- and I cannot bear to think of what that would mean for my friends who call Lakshadweep their home,' said Rohan Arthur, Senior Scientist at the Nature Conservation Foundation who heads the Oceans and Coasts Programme. 'Many coral areas in our reefs are now dead. We have seen it first hand. The corals in the eastern end of Kavaratti are dead. This was seen after cyclone, Ockhi in 2017. We cannot express how we feel about this loss,' said Saheer Ali, diving instructor in Kavaratti. The Indian Ocean basin, the fastest warming basin in the world, will see accelerated warming at a rate of 1.7 degree C-3.8°C per century during 2020-2100, a research paper published in Elsevier last year said. It also warned that this will lead to an increase in severe weather events, prolonged marine heatwaves and extreme Indian Ocean Dipole events that will influence the monsoon and cyclone development.
Business Wire
2 days ago
- Business
- Business Wire
Groupe SEB: 2025 First-Half Sales and Results
ECULLY, France--(BUSINESS WIRE)--Regulatory News: Statement by Stanislas de Gramont, Chief Executive Officer of Groupe SEB (Paris:SK) 'Our Consumer sales in the 2 nd quarter shows a clear acceleration in Western Europe, in a year particularly rich in product launches, and a confirmed return to growth in Asia, especially in China. The Professional business also recovered in the 2 nd quarter, in line with our expectations, after three quarters of significant decline. This positive trend, however, contrasts with the situation in North America, where significant uncertainty surrounding tariffs has led to a marked wait-and-see attitude among retailers, weighing on our performance in the region. The results for the 1 st half of the year, which are down, reflect this more deteriorated environment in the 2 nd quarter, with direct effects on the North American market, but also indirect impacts, and particularly related to strong currency volatility. In this context, and in light of the 1 st half performance and the ongoing uncertainties, we are revising our annual outlook. However, the Group's fundamentals remain solid; in the 2 nd half of the year, which is traditionally more contributive to profits, we anticipate improvement in both the Consumer and Professional businesses, along with a rebound in results, thereby returning to a trajectory more in line with our medium-term ambition.' GENERAL COMMENTS ON GROUP SALES Groupe SEB generated revenue of €3,748m in the 1 st half of 2025, up 0.6% LFL (+0.2% on a reported basis) versus 2024. Currency fluctuations had a negative impact of €64m on 1 st half sales (vs. - €127m in the 1 st half of 2024), with a more significant effect in the 2 nd quarter. (- €57m vs. - €7m in the 1 st quarter). The scope effect, linked to the consolidation of Sofilac and La Brigade de Buyer, had a positive impact of + €48m on half-year sales. The Group therefore returned to organic sales growth in the 2 nd quarter, with sales up +1.9%, after a mostly stable 1 st quarter (-0.6% LFL). The Consumer business recorded half-year sales of €3,251m, up +2.2% LFL and +0.2% on a reported basis. In the 2 nd quarter, organic growth was +1.6%, driven by an acceleration in EMEA (+4.4% LFL) in markets that remain resilient, and by still positive trends in Asia (+3.6% LFL), particularly in China. The unfavorable comparison base in South America related to the El Niño phenomenon in 2024 remains visible over the quarter as a whole (-8.4% LFL), even though it eased at the end of the period. Sales in North America were down by 11.5% in the 2 nd quarter, after +4.9% in the 1 st quarter. This reflects a macroeconomic and geopolitical environment that has become more unstable during the half‑year period, with a notable deterioration over the last few months. The uncertainty surrounding US tariffs is prompting distributors to take a marked wait-and-see attitude. Moreover, currency volatility, already high at the end of the 1 st quarter, has intensified since April. Sales in the Professional business in the 1 st half amounted to €496m, a slight increase of +0.3% on a reported basis, but a decline -9.6% LFL. This activity, as expected, shows a recovery in the 2 nd quarter, with an increase of +3.5% LFL and +10.7% on a reported basis. This reflects an almost stabilization of Professional Coffee, after three quarters of decline linked to a very strong comparison base in China, and the contribution of La Brigade de Buyer. BREAKDOWN OF SALES BY REGION Rounded figures in €m % calculated on non-rounded figures COMMENTS ON CONSUMER SALES BY REGION Sales in €m H1 2024 H1 2025 Change 2025/2024 As reported LFL EMEA Western Europe Other countries 1,555 1,030 525 1,592 1,066 526 +2.4% +3.5% +0.2% +3.5% +3.4% +3.6% Expand WESTERN EUROPE In Western Europe, sales rose +3.4% LFL in the 1 st half of the year (+3.5% on a reported basis). Excluding the impact of loyalty programs, the region was up +3.8% LFL. The 2 nd quarter saw clear acceleration, with organic growth of +6.8%, driven by double-digit increases in floor care, cookware and linen care. In France, the 2 nd quarter was up 7% with better sell-in and sell-out alignment. This strong momentum was underpinned by the success of launches in new categories such as washers and spot cleaners, as well as by good performance in cookware and innovations in versatile vacuum cleaners and garment steamers. Core business in the DACH region was generally stable during the 2 nd quarter, with cookware performing well and new launches in washers and garment steamers being positively received. Other countries in the region, especially Spain and Italy, saw solid growth in the 2 nd quarter, driven by innovations in floor care (versatile vacuum cleaners and washers) and good performance for cookware. The Group's sales are on a positive trend in the United Kingdom with well oriented sell-out, despite a still challenging market. Finally, in the Benelux, revenue growth continues, particularly in the Netherlands, with the rollout of Ingenio in the region. OTHER EMEA COUNTRIES In other EMEA countries, sales grew +3.6% LFL in the 1 st half of the year, despite a particularly demanding comparison base (+30.5% LFL in H1 2024). Following sustained growth of +7% in the 1 st quarter, activity stabilized in the 2 nd quarter due to political and geopolitical disturbances in some countries in the region – particularly Romania, Middle East and Algeria – which accounted for most of the slowdown observed during the period. Throughout the 1 st half of the year, Eastern Europe remained the region's main growth engine, with significant contributions from Poland, Bulgaria and the Czech Republic that were driven by the success of oil-less fryers and full auto coffee machines, as well as by the recent launch of washers. In Turkey, growth remains well oriented, underpinned by strong momentum in cookware, as well as in linen care and versatile vacuum cleaners, and despite a still complex political and economic environment. NORTH AMERICA In North America, sales were down -3.9% LFL during the 1 st half, having been impacted by a significant deterioration in the environment in the 2 nd quarter. Following growth of +4.9% LFL during the 1 st quarter, the trend was effectively suddenly reversed in the 2 nd quarter, with a decline of -11.5% LFL (-18.6% on a reported basis). Uncertainty surrounding tariffs and their application schedule has significantly disrupted the Group's activity in the region over the past few months. This instability results in a widespread wait-and-see attitude among retailers and a turmoil in import patterns. To mitigate the impact of tariff hikes, the Group has implemented several adjustment measures and is continuously adapting to the constantly evolving environment. At this stage, however, it appears that disruptions to activity are likely to continue into the 2 nd half of the year, in a context still marked by significant lack of visibility. SOUTH AMERICA In South America, half-yearly sales were down -8.3% LFL (-17.5% on a reported basis) due to a very high comparison base from 2024 linked to the El Niño climate phenomenon (+29.1% LFL in H1 2024), which had driven exceptionally strong fan sales in the 1 st half of 2024. This base effect gradually faded during the 2 nd quarter, the Group's revenue remains nevertheless down by -8.4% LFL. The trend is expected to be more positive in the 2 nd half of the year. Excluding fans, sales in the region grew during the 1 st half; Colombia in particular posted double-digit growth in revenue outside this category. Sell-out remains very well oriented across all categories, with the following recent launches being particularly successful: full auto coffee machines, versatile vacuum cleaners and linen care. Performance was more mixed in Brazil, where activity remains strongly linked to fans. However, blender sales are well positioned thanks to a renewed range and a very positive sell-out. CHINA Sales in China rose +3.4% LFL in the 1 st half of the year (+2.0% on a reported basis). This increase includes a solid performance in the 2 nd quarter (+3.2% LFL), which confirms the return to growth that began in the 1 st quarter. Supor maintains its momentum and consolidates its market share, as well as its leading position in the cookware and kitchen electrics segments. In the 2 nd quarter, this solid performance was mainly due to the success of recent product launches such as oil-less fryers, woks, water dispensers and blenders. The economic stimulus measures introduced by the Chinese authorities have, to date, had a limited impact on Supor's sales performance. More generally, the reference markets remain competitive but showed signs of stabilization in the 1 st half of the year. The Group remains confident in terms of its growth outlook in China for the entire year. OTHER ASIAN COUNTRIES In other Asian countries, the Group's revenue increased by +6.3% LFL in the 1 st half of the year and by +5.3% on a reported basis, driven by growth in almost all markets in the region. Sales performance remained solid in the 2 nd quarter at +4.9% LFL. In Japan, sales stayed well oriented, particularly in cookware (Ingenio range), utensils (knives) and linen care. The positive trend in the 1 st quarter is largely maintained in the 2 nd quarter. In South Korea, the macroeconomic environment is weighing on consumption and keeping the market in negative territory. However, the Group's cookware sales are increasing, underpinned by online sales, while sales of Small Domestic Appliances are declining. South-East Asian countries, particularly Malaysia, Thailand and Vietnam, stepped up their performance with strong double-digit growth. The Group continued to expand its product portfolio in the region: oil-less fryers, rice cookers, washers, versatile vacuum cleaners, knives, etc. Lastly, in Australia, business grew in the 1 st half period, albeit on a high comparison base. Categories such as electrical cooking and cookware supported this performance. COMMENTS ON PROFESSIONAL BUSINESS Sales in the Professional business totaled €496m, down -9.6% LFL (+0.3% on a reported basis) in the 1 st semester. After an organic decline of -21.7% in the 1 st quarter, this business began to recover in the 2 nd quarter, as expected, posting an increase of +3.5% LFL and +10.7% on a reported basis, with the contribution of the latest Sofilac 2 and La Brigade de Buyer acquisitions. The Professional Coffee business recorded near stabilization of its sales in the 2 nd quarter, after three consecutive quarters of sharp decline, due to an exceptional comparison base linked to a large deal in China. Excluding this large deal in China, growth was around 10% in the 2 nd quarter, fueled mainly by the delivery of new contracts and improvement in services. Tea chains in China made a significant contribution to the machine deliveries trend in recent months. The Group also continues to expand its commercial resources and offering into new markets in Eastern Europe and Southeast Asia. Over the first-half period, the Group continued its strategic development with the construction of its new hub in Shaoxing, China, which will include an R&D center, a purchasing center and a production base. As a reminder, serial production is scheduled to start in the 1 st quarter of 2026. In addition, a targeted acquisition in the services sector was finalized in the 1 st quarter, enabling the Group to expand its maintenance, repairs, spare parts and refurbishment offering for Chinese customers. OPERATING RESULT FROM ACTIVITY In the 1 st half of 2025, ORfA stood at €119m, down 51% from 2024. This figure includes a negative currency effect of €59m and a positive scope effect of €4m. The operating margin was 3.2% of sales, compared to 6.5% the previous year. ORfA includes the lower contribution of Professional Coffee, down by around €40m over the 1 st half, the result of a double-digit organic decline in this business's sales, as expected The Group's results in North America also fell in the 1 st half of the year (down approximately €20m), impacted by: a wait-and-see attitude taken by retailers in a deteriorated economic environment, fueled by uncertainty regarding tariffs evolution; a time lag between increases in tariffs and the benefit of the implemented compensatory measures. Moreover, the overall appreciation of the euro, combined with strong currency volatility in emerging countries, limited the offsetting of currency effects during the 1 st half of the year, resulting in a negative net impact of around €25m. Finally, in the 1 st half of the year, the Group pursued a proactive strategy in terms of growth drivers, with an increase of around €60m compared to 2024, to support a year rich in innovations and product launches. These investments are fueling growth momentum in both Europe and Asia. More generally, the seasonality of the Consumer business implies a traditionally less favorable volume effect during the 1 st half of the year, before benefiting from a more significant operational leverage in the 2 nd half of the year. OPERATING PROFIT AND NET PROFIT At end-June 2025, the Group's operating profit amounted to €86m, down 59% from €210m as of 30 June 2024. This result includes an employee profit-sharing expense of about -€10m, close to that of the 1 st half of 2024, and other income and expenses of -€24m, compared with - €23m in the 1 st half of 2024. The net financial result was - €57m as of 30 June 2025, compared to - €46m in the 1 st half of 2024. The tax expense was - €7m, based on an estimated effective tax rate of 25%, and after minority interests of - €21m. Profit attributable to owners of the parent therefore totaled €1m in the 1 st half, compared with €100m at end-June 2024. FINANCIAL STRUCTURE As of 30 June 2025, consolidated shareholder's equity stood at €3,152m, down by €388m versus end-2024, mainly due to dividend payments and exchange rate effects. Free cash flow generation was negative at - €213m in the 1 st half of the year, a level comparable to that of 2024 (- €215m). This mainly reflects an increase in inventories at the end of June, linked to usual seasonality, but also to anticipated supplies in response to the persistent instability of tariffs in the United States. It also includes CAPEX of €160m (of which €59m linked to IFRS 16), mainly for construction of the new Professional Coffee hub in China and the new logistics center in Til-Châtel (France). The Group's net financial debt was €2,658m (including €316m of IFRS 16 debt) as of 30 June 2025, up €236m versus 30 June 2024. This includes the payment in May of the full amount of the €189.5m fine imposed by the French Competition Authority and fully provisioned in the Group's accounts at the end of 2024. Excluding this exceptional disbursement, the increase in net financial debt was contained, at less than €50m compared to June 2024. In addition, the Group pursued its active external growth policy with €106m in cash outflows during the 1 st half period, mainly in the Professional Culinary segment, with the acquisition of La Brigade de Buyer in January. The Group's debt ratio (net financial debt/equity) as of 30 June 2025 was 0.8x, up slightly compared to the same date last year (0.7x). The net financial debt/adjusted EBITDA ratio was 2.9x (2.8x excluding IFRS 16 and M&A), compared to 2.3x as of 30 June 2024. REVISED ANNUAL OUTLOOK Sales The Group revises its annual organic sales growth expectations which should range between 2% and 4% (vs. 'around 5%' previously). This revision considers the performance of the 2 nd quarter, which was impacted by an unfavorable environment in North America, more pronounced than anticipated. It also reflects the persistence of the uncertainty surrounding tariffs and consequently, disturbances linked to wait-and-see attitude taken by clients, particularly in North America. The 2 nd half of the year will nevertheless be fueled by an improvement in overall organic performance across the rest of our activities, with: in Consumer, good momentum in EMEA, underpinned by numerous new product launches and the investments made in the 1 st half of the year, continued growth in China and the rest of Asia, following a strong 1 st half, a return to growth in South America, with a more favorable comparison base in the fans category, and in Professional, confirmation of the return to growth, which already began in the 2 nd quarter. Operating Result from Activity The Group is now anticipating ORfA in the range of €700m and €750m in 2025 (vs. 'an increase' previously). This considers the decline in results in the 1 st half of the year and the high volatility of the environment. The ongoing uncertainties are expected to persist, particularly in North America, and to negatively impact ORfA, despite the margin protection measures implemented in the United States. However, a return to growth in the Group's results is expected in the 2 nd half of the year, mainly thanks to: an improvement in growth in Consumer, the accretive effect on margins of the return to growth in Professional, strict discipline in managing operating expenses, including overheads, and agility in the allocation of growth drivers, and higher offsetting of currency effects. This outlook therefore implies a 2 nd half that signals a return to the trajectory of the Group's medium-term ambition. In line with its history of resilience, the Group will remain attentive to changes in its environment and will ensure strict control of its costs, in order to preserve its performance and pursue its long-term value creation strategy. The consolidated and company financial statements for Groupe SEB at 30 June 2025 were approved by the Board of Directors on 23 July 2025. CONSOLIDATED INCOME STATEMENT CONSOLIDATED BALANCE SHEET ASSETS (in € millions) 30/06/2025 30/06/2024 31/12/2024 Goodwill 1,944.4 1,865.5 1,965.6 Other intangible assets 1,386.6 1,360.6 1,401.4 Property, plant and equipment 1,257.1 1,216.0 1,263.2 Other investments 235.4 348.1 225.1 Other non-current financial assets 16.9 16.5 17.2 Deferred tax liabilities 202.8 199.4 140.1 Other non-current receivables 233.7 66.6 48.5 Long-term derivative instruments – assets 12.3 16.9 18.7 NON-CURRENT ASSETS 5,289.2 5,089.6 5,079.8 Inventories and work-in-progress 1,903.0 1,690.9 1,645.6 Trade receivables 886.0 923.4 1,141.9 Other current receivables 227.8 173.5 221.7 Current tax assets and liabilities 36.7 46.8 25.8 Short-term derivative instruments - assets 77.6 48.2 64.8 Financial investments and other current financial assets 33.3 38.6 126.8 Cash and cash equivalents 660.5 772.6 1,017.0 CURRENT ASSETS 3,824.9 3,694.0 4,243.6 TOTAL ASSETS 9,114.1 8,783.6 9,323.4 LIABILITIES (in € millions) 30/06/2025 30/06/2024 31/12/2024 Share capital 55.3 55.3 55.3 Reserves and retained earnings 2,933.6 3,137.1 3,292.7 Treasury shares (58.4) (100.0) (71.9) Equity attributable to owners of the parent 2,930.5 3,092.4 3,276.1 Non-controlling interests 221.3 235.8 264.2 CONSOLIDATED SHAREHOLDERS' EQUITY 3,151.8 3,328.2 3,540.3 Deferred tax liabilities 152.0 210.2 173.2 Employee benefits and other non-current provisions 389.6 195.9 396.3 Long-term borrowings 2,173.9 1,636.0 1,619.1 Other non-current liabilities 78.4 78.9 78.2 Long-term derivative instruments - liabilities 20.4 16.3 20.4 NON-CURRENT LIABILITIES 2,814.3 2,137.3 2,287.2 Employee benefits and other current provisions 94.0 124.1 114.0 Trade payables 1,186.6 1,130.0 1,211.1 Other current liabilities 488.5 384.3 631.2 Current tax liabilities 40.4 53.4 47.8 Short-term derivative instruments - liabilities 158.1 32.3 58.5 Short-term borrowings 1,180.4 1,594.1 1,433.3 CURRENT LIABILITIES 3,148.0 3,318.2 3,495.9 TOTAL EQUITY AND LIABILITIES 9,114.1 8,783.6 9,323.4 Expand CONSOLIDATED CASH FLOW STATEMENT (in € millions) 30/06/2024 NET PROFIT ATTRIBUTABLE TO SEB S.A. 0.8 100.1 Depreciation, amortization and impairment losses 132.2 142.3 Change in provisions (9.7) (6.8) Unrealized gains and losses on financial instruments (7.7) (15.0) Income and expenses related to stock options and bonus shares 10.5 11.7 Gains and losses on disposals of assets 0.9 0.6 Other Non-controlling interests 20.8 24.3 Current and deferred taxes 7.2 39.3 Cost of net financial debt 39.4 30.0 CASH FLOW (1) (2) 194.4 326.5 Change in inventories and work in progress (296.8) (223.1) Change in trade receivables 120.9 (88.0) Change in trade payables 26.3 (24.7) Change in other receivables and payables (203.7) (14.8) Income tax paid (87.5) (96.2) Net interest paid (39.4) (30.0) NET CASH FROM OPERATING ACTIVITIES (285.8) (150.3) Proceeds from disposals of assets 7.1 2.9 Purchases of property, plant and equipment (2) (83.2) (60.7) Purchases of software and other intangible assets (2) (22.8) (20.5) Purchases of financial assets 84.4 40.7 Acquisitions of subsidiaries, net of cash acquired (65.7) (126.9) NET CASH USED BY INVESTING ACTIVITIES (80.2) (164.5) Increase in borrowings (2) 1,415.3 1,023.4 Decrease in borrowings (1,150.1) (1,083.0) Issue of share capital Transactions between owners 0.1 0.1 Change in treasury stock (0.5) (89.0) Dividends paid, including to non-controlling interests (206.8) (194.2) NET CASH USED BY FINANCING ACTIVITIES 58.0 (342.7) Effect of changes in foreign exchange rates (48.5) (2.0) NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (356.5) (659.5) Cash and cash equivalents at beginning of period 1,017.0 1,432.1 Cash and cash equivalents at end of period 660.5 772.6 (1) Before net finance costs and income taxes paid. (2) Excluding IFRS 16 Expand APPENDIX SALES BY REGION – FIRST QUARTER Sales in €m Q1 2024 Q1 2025 Change 2025/2024 As reported LFL EMEA Western Europe Other countries 786 515 271 798 515 282 +1.5% +0.1% +4.2% +2.5% 0.0% +7.2% AMERICAS North America South America 246 155 90 235 159 76 -4.3% +2.2% -15.5% +0.1% +4.9% -8.3% ASIA China Other countries 603 498 106 639 525 114 +5.9% +5.5% +7.6% +4.2% +3.5% +7.7% TOTAL Consumer 1,635 1,672 +2.2% +2.8% Professional 258 234 -9.2% -21.7% GROUPE SEB 1,893 1,906 +0.7% -0.6% Expand Rounded figures in €m % calculated on non-rounded figures SALES BY REGION – SECOND QUARTER Sales in €m Q2 2024 Q2 2025 Change 2025/2024 As reported LFL EMEA Western Europe Other countries 769 515 254 794 550 244 +3.3% +6.9% -4.0% +4.4% +6.8% -0.3% AMERICAS North America South America 271 181 90 219 147 72 -19.0% -18.6% -19.6% -10.5% -11.5% -8.4% ASIA China Other countries 571 459 112 566 451 115 -0.8% -1.8% +3.2% +3.6% +3.2% +4.9% TOTAL Consumer 1,611 1,580 -1.9% +1.6% Professional 237 262 +10.7% +3.5% GROUPE SEB 1,847 1,842 -0.3% +1.9% Expand Rounded figures in €m % calculated on non-rounded figures 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 expenses, i.e., the cost of sales, innovation expenditure (R&D, strategic marketing and design), advertising, operational marketing as well as sales and marketing expenses. ORfA does not include discretionary and non-discretionary profit-sharing or other non-recurring operating income and expense. Loyalty program (LP) These programs, run by distribution retailers, consist in offering promotional offers on 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. Sell-in (sales) Sales made to our customers (distributors) Sell-out (resales) Sales made by distributors 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 interest, 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 financial debt from application of the IFRS 16 standard 'Leases' in addition to short-term investments with no risk of a substantial change in value but with maturities of over three months. This document 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 environment, demand in the Group's large markets and the impact 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 Universal Registration Document and Annual Financial Report, filed each year with the Autorité des Marchés Financiers, the French financial markets authority. This document may contain individually rounded data. The arithmetical calculations based on rounded data, in euros or percentage, may show some differences with the aggregates or subtotals reported. Conference call with management on 23 July at 6:00 p.m. CET Click here to access the webcast live (in English only) Replay available on our website on 23 July: or dial one of the numbers below to take part in the conference call (in English): A question and answer session will be accessible via the webcast (written questions) or the conference call (oral questions) Next key dates – 2025 23 October | after market closes 9M 2025 sales and financial data Expand Next key dates – 2025 25 February | pre-market 2025 Sales and results 23 April | after market closes Q1 2026 sales and financial data 12 May | 2:30 p.m. Annual General Meeting 22 July | after market closes H1 2026 sales and results 22 October | after market closes 9M 2026 sales and financial data Expand Find us at World reference in Small Domestic Equipment and professional coffee machines, Groupe SEB operates with a unique portfolio of 45 top brands (including Tefal, Seb, Rowenta, Moulinex, Krups, Lagostina, All-Clad, WMF, Emsa, Supor), marketed through multi-format 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 sales of €8.3bn in 2024 and has more than 32,000 employees worldwide. 1 On a like-for-like basis (= organic) 2 NB: occasional positive effect on second-quarter 2025 organic growth linked to the consolidation of Sofilac from the third quarter of 2024, including trading activity from April to September
New Straits Times
18-07-2025
- Climate
- New Straits Times
'Hot spell to persist, cloud seeding not feasible yet'
KUALA LUMPUR: The current hot spell affecting parts of the country is expected to persist until the end of this month, said the Malaysian Meteorological Department (METMalaysia). Its director-general, Dr Mohd Hisham Mohd Anip, said the heat was within normal levels and did not meet the criteria for an extreme heatwave, although temperatures in some areas could reach up to 36°C. "Most areas in the country are forecast to receive minimal rainfall over the next week due to the formation of a tropical storm in the western Pacific Ocean near the Philippines. "With the El Niño–Southern Oscillation index predicted to remain at neutral levels through the end of the year, extreme heat is not expected to strike the country during this southwest monsoon season." He said the latest weather forecast model analysis showed that active tropical cyclones in the western Pacific Ocean and South China Sea were disrupting the country's rainfall patterns. As a result, he said, cloud seeding in the northern regions of the peninsula, particularly in Kerian, Perak, was not suitable. "Active tropical cyclones make it unsuitable to carry out cloud seeding. "However, should there be significant weather changes based on updated forecast models, we will inform the relevant authorities," he added. Previously, Agriculture and Food Security Minister Datuk Seri Mohamad Sabu said cloud seeding would be carried out to address the issue of dry rice fields caused by declining water levels at Bukit Merah Lake due to the heat. Hisham said METMalaysia acted as a technical adviser and agency upon receiving an official request from any party wishing to conduct cloud seeding, particularly in water shortage crises such as the one in Kerian. "METMalaysia will conduct weather forecast analysis using the latest models, taking into account high humidity levels, the presence of towering cumulus clouds in the targeted areas and atmospheric stability. "These factors will help promote cloud formation and create conditions suitable for generating rain during cloud-seeding operations," he said.
Boston Globe
15-07-2025
- Climate
- Boston Globe
Tropical disturbance near Florida to dump extreme flooding rain along Gulf coast
What comes next remains to be seen, as the core of the storm will glide along the shallow waters of the Gulf, likely paralleling the coastline. There is a 40 percent chance that the storm will form a tropical depression and a lesser chance for winds to strengthen to what would be Tropical Storm Dexter. Essentially, a weak pocket of high pressure over the interior southeast may not be strong enough to direct the storm out to the Gulf, which is a good sign in terms of winds. Regardless, sea surface temperatures in the northern Gulf are running in the upper 80s, with the atmosphere already full of moisture. Heavy rain is a lock across the Gulf coast, bringing flooding chances along the Florida panhandle to Louisiana by later in the work week. Advertisement A 40 percent chance for a tropical system to develop exists, mainly over the Gulf. Model tracks show the storm paralleling the Gulf Coast. Boston Globe The highest risk for extensive flooding exists in portions of Louisiana on Thursday and Friday, where the low-lying plain will be doused with 6 to 12 inches of rain in a hurry. This may lead to numerous flooding events, with flooding emergencies possible across New Orleans and Baton Rouge. As of now, it appears this system will stall out over Louisiana and Mississippi, which can create a very dangerous scenario heading into the weekend. Advertisement There is a chance for parts of the Gulf, especially Louisiana, to see double-digit rainfall totals as the tropical system dumps extreme rainfall. Boston Globe Will New England see remnant impacts? In a way, yes. Most of the moisture will push north along the Mississippi River heading into the weekend and will begin to wring out as the western edge of that pocket of high pressure over the Southeast pulls some of the moisture toward the Northeast. The remnant moisture will marginally support a separate system that will lurk near New England this weekend, but it will be minimal and held mostly to the south of our region. How is Atlantic hurricane season shaping up The current season is pacing ahead of schedule. We've had three named storms already, and the third storm is typically named by an average date of Aug. 3. The first named hurricane typically forms by Aug. 11. So we're essentially about three weeks ahead of a typical year, which usually produces 14 named storms, seven hurricanes, of which three usually evolve into a major, Category 3 or higher, hurricane. The National Hurricane Center predicts an above-average season with 13 to 19 named storms, 6 to 10 hurricanes, and between 3 and 5 major hurricanes. Above-average sea surface temperatures, along with the absence of a formidable El Niño or La Niña, are behind the slight increase in forecast tropical activity this season. NOAA predicts an above-average hurricane season for the Atlantic basin. Boston Globe Ken Mahan can be reached at
AllAfrica
15-07-2025
- Science
- AllAfrica
Was East Asian air cleanup behind recent global warming showtime?
Global warming has picked up pace since around 2010, leading to the recent string of record warm years. Why this is happening is still unclear, and among the biggest questions in climate science today. Our new study reveals that reductions in air pollution – particularly in China and elsewhere in East Asia – are a key reason for this faster warming. Cleanup of sulphur emissions from global shipping has been implicated in past research. But that cleanup only began in 2020, so it's considered too weak to explain the full extent of this acceleration. NASA researchers have suggested that changes in clouds could play a role, through reductions in cloud cover either in the tropics or over the North Pacific. One factor that has not been well quantified, however, is the effect of monumental efforts by countries in east Asia, notably China, to combat air pollution and improve public health through strict air quality policies. There has already been a 75% reduction in east Asian sulphur dioxide emissions since around 2013, and that cleanup effort picked up pace just as global warming began accelerating. Our study addresses the link between East Asian air quality improvements and global temperature, building on the efforts of eight teams of climate modelers across the world. We have found that polluted air may have been masking the full effects of global warming. Cleaner air could now be revealing more of the human-induced global warming from greenhouse gases. In addition to causing millions of premature deaths, air pollution shields the Earth from sunlight and therefore cools the surface. There has been so much air pollution that it has held human-induced warming in check by up to 0.5°C over the last century. With the cleanup of air pollution, something that's vital for human health, this artificial sunshade is removed. Since greenhouse gas emissions have kept on increasing, the result is that the Earth's surface is warming faster than ever before. Our team used 160 computer simulations from eight global climate models. This enabled us to better quantify the effects that east Asian air pollution has on global temperature and rainfall patterns. We simulated a cleanup of pollution similar to what has happened in the real world since 2010. We found an extra global warming of around 0.07°C. While this is a small number compared with the full global warming of around 1.3°C since 1850, it is still enough to explain the recent acceleration in global warming when we take away year-to-year swings in temperature from natural cycles such as El Niño, a climate phenomenon in the Pacific that affects weather patterns globally. Based on long-term trends, we would have expected around 0.23°C of warming since 2010. However, we actually measured around 0.33°C. While the additional 0.1°C can largely be explained by the east Asian air pollution cleanup, other factors include the change in shipping emissions and the recent accelerated increase in methane concentrations in the atmosphere. Air pollution causes cooling by reflecting sunlight or by changing the properties of clouds so they reflect more sunlight. The cleanup in east Asian air pollution influences global temperatures because it reduces the shading effect of the pollution over east Asia itself. It also means less pollution is blown across the north Pacific, causing clouds in the east Pacific to reflect less sunlight. The pattern of these changes across the North Pacific simulated in our models matches that seen in satellite observations. Our models and temperature observations also show relatively strong warming over the North Pacific, downwind from east Asia. The main source of global warming is still greenhouse gas emissions, and a cleanup of air pollution was both necessary and overdue. This did not cause the additional warming but rather, removed an artificial cooling that has for a time helped shield us from some of the extreme weather and other well-established consequences of climate change. Global warming will continue for decades. Indeed, our past and future emissions of greenhouse gases will affect the climate for centuries. However, air pollution is quickly removed from the atmosphere, and the recent acceleration in global warming from this particular unmasking may therefore be short-lived. Laura Wilcox is a professor, National Centre for Atmospheric Science, University of Reading, and Bjørn H. Samset is a senior researcher in climate and atmospheric sciences, Center for International Climate and Environment Research – Oslo. This article is republished from The Conversation under a Creative Commons license. Read the original article.
