Stable dividend, 2023 outlook send SEB shares up

SEB SA

23/02/2023 12:24

** Shares in SEB  SEBF.PA  rise around 5% after the
France-based manufacturer of household equipment proposed a
stable dividend and said it expects growth for 2023
    ** The company says it is confident about revenue growth in
2023 as well as an increase in its operating margin for the year
as a whole
    ** It reports 2022 operating margin of 7.8%, says it will
propose a dividend of 2.45 euros per share, same as year ago
    ** Kepler Cheuvreux says a stable dividend per share is
sending a strong message that the management is confident in
restoring the group's normative margin and strong free cash flow
generation in the years to come, starting with 2023
    ** "For 2023, the group announces that it is confident about
the growth of the small equipment and Pro coffee market, with
overall a gradual recovery in consumer sales, a strong growth in
its Pro activities, and an improvement in its operating profit",
says Portzamparc
    ** The stock is at its highest since May 2022
($1 = 0.9422 euros)
 (Reporting by Vittorio Maresca di Serracapriola)
 ((vittorio.marescadiserracapriola@thomsonreuters.com))