Latest news with #EricRondolat
Business Wire
21-05-2025
- Business
- Business Wire
Combined Shareholders' Meeting of SEB S.A., May 20, 2024
ECULLY, France--(BUSINESS WIRE)--Regulatory News: The Combined Shareholders Meeting of SEB S.A. (Paris:SK) took place on May 20, 2025, and was chaired by Thierry de La Tour d'Artaise, Chairman of the Board of Directors, at 28 Avenue George V in Paris. Shareholders representing 88.24% of voting rights in the Ordinary Annual General Meeting (OAGM) and 88.12% of voting rights in the Extraordinary Annual General Meeting (EAGM), i.e., 4,348 shareholders present or represented by proxy in OAGM and 4,353 shareholders present or represented by proxy in EAGM, adopted all of the resolutions. As Chairman of the Board of Directors, Thierry de La Tour d'Artaise chaired this shareholders' meeting, accompanied by Stanislas de Gramont, Chief Executive Officer, Olivier Casanova, Senior Executive Vice-president, Finance, and Philippe Sumeire, General Secretary, Secretary of the Board of Directors. The General Meeting included presentations on the Group's financial performance in 2024, key highlights of the past year, and the first quarter results of 2025. The Chairman and the CEO then emphasized the pillars underlying the Group's strategy, based on solid fundamentals ensuring growth and resilience in a constantly evolving global environment. The new ESG ambition by 2030 was also introduced. Philippe Sumeire subsequently addressed governance, with the Chairman reviewing the work completed in 2024 by the Board of Directors and its Committees. The presentation concluded with an explanation of the information prior to voting on the resolutions, followed by a discussion session with shareholders. The Shareholders' Meeting approved all of the resolutions presented by the Board, including: The distribution of a dividend of €2.80 1 for the fiscal year 2024. The coupon will be detached on June 3, and the dividend will be paid from June 5, 2025; The renewal of the mandate of Mrs. Brigitte Forestier and the appointment of Mr. Eric Rondolat as Director; Approval of the 2024 remuneration components and the 2025 remuneration policy for all corporate officers. Lastly, on the recommendation of the Governance and Remuneration Committee, the Board of Directors, which met at the end of the Shareholders' Meeting, appointed Mr. Eric Rondolat as a member of the Audit and Compliance Committee, and the Strategic and CSR Committee. The composition of the committees is now as follows: Audit and Compliance Committee: Catherine Pourre (Chair), François Mirallié, Adeline Lemaire, Eric Rondolat; Governance and Remuneration Committee: Jean-Pierre Duprieu (Chair), Damarys Braida, Caroline Chevalley, Brigitte Forestier, Catherine Pourre; Strategic and CSR Committee: Thierry de La Tour d'Artaise (Chair), William Gairard, Adeline Lemaire, Thierry Lescure, Catherine Pourre, Eric Rondolat. The replay of the Shareholders' Meeting is available at: The results of the votes will be made available over the coming days on that same section of the website. Next key dates – 2025 You can also find us at World reference in Small Domestic Equipment and professional coffee machines, Groupe SEB operates with a unique portfolio of 40 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. SEB S.A. ■ 1 The dividend will be raised to 3.08 euros per share for shares benefiting from the loyalty bonus.
Yahoo
26-04-2025
- Business
- Yahoo
Signify NV (PHPPY) Q1 2025 Earnings Call Highlights: Navigating Challenges with Strategic ...
Nominal Sales: EUR1,448 million, a decrease of 1.3% with a positive currency effect of 1.4%. Comparable Sales: Declined by 2.8% overall; 0.9% decline excluding conventional business. Adjusted EBITA Margin: Decreased by 30 basis points to 8%. Net Income: EUR67 million, up from EUR44 million in Q1 last year. Free Cash Flow: EUR40 million. Professional Business Sales: EUR942 million, with a comparable sales decline of 1.8%. Consumer Business Sales: EUR311 million, with sales growth of 3.1%. OEM Business Sales: EUR92 million, with a comparable sales decline of 10.7%. Conventional Business Sales: EUR92 million, with a comparable sales decline of 23.9%. Adjusted EBITA Margin for Consumer Business: Improved by 40 basis points to 10.8%. Adjusted EBITA Margin for OEM Business: Decreased to 4.2%. Adjusted EBITA Margin for Conventional Business: 18.4%. Working Capital: Reduced by EUR31 million, from 7.3% to 7.2% of sales. Warning! GuruFocus has detected 2 Warning Signs with PHPPY. Release Date: April 25, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Signify NV (PHPPY) reported a sequential improvement in most of its businesses, with a strong contribution from connected offers, increasing the install base of connected light points from EUR126 million in Q1 '24 to EUR153 million. The company saw a faster-than-expected return to growth in both professional and consumer segments in China, bringing optimism for the rest of the year. Net income improved to EUR67 million compared to EUR44 million in Q1 last year, driven by lower restructuring costs and financial expenses. The Consumer business achieved sales growth of 3.1% with a positive contribution from all regions, and the adjusted EBITA margin improved by 40 basis points to 10.8%. Signify NV (PHPPY) was ranked 15th globally in the Corporate Knights rankings for the global 100 most sustainable corporations, highlighting its leadership in sustainability. Nominal sales decreased by 1.3% to EUR1,448 million, with comparable sales declining by 2.8% due to weakness in the professional Europe and OEM business. The adjusted EBITA margin decreased by 30 basis points to 8%, mainly due to adverse absorption of fixed costs and weakness in the high-margin professional business in Europe. The OEM business saw a significant decline in comparable sales by 10.7%, attributed to two major customers, with expectations that this effect will persist. The Conventional business experienced a decline in comparable sales by 23.9%, reflecting the structural decline of that business. The percentage of women in leadership positions decreased by 1% to 27%, which is not in line with the company's 2025 ambitions. Q: Can you provide more details on how you plan to shift sourcing from China in the second half of the year? A: Eric Rondolat, CEO: We have a plan to mitigate and flexibilize our supply chain to the maximum. We are working with suppliers and our manufacturing plants to move production from China to other countries, mainly in Asia. This includes both finished products and components, ensuring we meet the local content requirements for country of origin. Q: Is there an opportunity to gain market share in the US due to competitors' reliance on China? A: Eric Rondolat, CEO: Yes, we believe our footprint is advantageous compared to competitors who are more dependent on China. With most of our imports coming from Mexico and Canada under the USMCA agreement, we are less affected by tariffs, allowing us to potentially gain market share. Q: What are your observations on demand and pricing since tariffs were implemented? A: Eric Rondolat, CEO: We've seen relative stability in pricing across most businesses, with some price increases in the US already accepted by the market. We are monitoring the situation to remain competitive and ensure demand is not adversely affected. Q: How do you view the professional demand in Europe, and what are your expectations for recovery? A: Eric Rondolat, CEO: We remain cautious about Europe despite lower rates. The economy in key countries like Germany, the UK, and France is still impacted. We expect the business to stabilize but do not foresee a rebound in Europe in 2025. Q: Can you elaborate on the price development and cost savings in relation to gross margin trends? A: Zeljko Kosanovic, CFO: We see stabilization in pricing and improvement in volumes. We have a strong line of sight on bill of material savings, which, along with procurement efforts, should contribute positively to gross margin stabilization moving forward. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Sign in to access your portfolio
