PARIS, July 11, 2002 (PRIMEZONE) -- SEB: Consolidated sales for the first six months of 2002 were up 36% from the year-earlier period. The Moulinex and Krups brands contributed sales of E241 million thanks to the successful integration process that is continuing as planned. At the former consolidation scope, sales rose 6% during the period.
The key factors contributing to growth were as follows:
In France, business remained very strong. The high-end segment confirmed its advance, led by a good performance from steam generators, large food processors, expresso coffee makers and the new Clipso Control pressure cooker. Sales slowed somewhat in the other EU countries due, in particular, to declines in the United Kingdom and Scandinavia. The rising sales trend for Moulinex-Krups products seen at the end of March was confirmed in the second quarter.
In North America, the first half ended on a strong note, with sales growth slightly higher than in the first quarter despite weaker demand in Mexico at the end of the period. Krups is gradually regaining ground with US retailers.
In Latin America, Arno returned to growth with higher sales in local currency thanks to the end of the energy crisis, weakness on the part of certain competitors and numerous new product launches.
In the rest of the world, sales growth remained strong in the CIS, South Korea and Australia. However, business in Turkey was hampered by a further decline in the Turkish lira. Moulinex-Krups contributed to the noticeable increase in sales in the Middle East, the CIS, Central Europe, Australia and Hong Kong.
The financial tables which accompany this release can be found at: http://www.prline.com/affiche.asp?Doc_id=134108