SEB (SK) AGM 2026 summary

Opening remarks and agenda

• The meeting was held at Pavillon Gabriel on May 12, 2026, with webcast access, attended by board members, executives, auditors, and shareholders; the agenda included financial results, strategic plans, governance, and voting on resolutions.

• The chair acknowledged the retirement of the board secretary and outlined the meeting's structure, including presentations, auditor reports, Q&A, and voting.

• All required documents were made available to shareholders, and written questions were answered in advance.

Financial performance review

• 2025 sales reached EUR 8.169 billion (+0.3% like-for-like), with net profit group share at EUR 245 million; operating margin fell to 7.4% from 9.7% in 2024.

• Net financial debt increased to EUR 2.342 billion, with financial leverage at 2.7x and over EUR 2.5 billion in available liquidity; partly due to a EUR 180 million fine.

• E-commerce and DTC sales showed double-digit growth; Americas saw -4.9% sales decline, while Asia and EMEA grew.

• Q1 2026 sales rose 2.7% like-for-like, with improved operating margin and strong performance in Americas and China.

• Professional segment stabilized in H2 2025, with growth in Germany, China, Eastern Europe, and Middle East.

Strategic initiatives and plans

• The Rebound Plan was launched in 2026 to restore profitability and simplify operations, targeting EUR 200 million in annual savings by 2027 and impacting up to 2,100 positions globally.

• Focus areas include innovation, digital transformation, AI integration with over 800 use cases, and sustainability.

• Medium-term ambition is 5% annual organic sales growth and operating margin progressing toward 11%.

• Product innovation highlighted by successful launches (e.g., Coffee Crush, Cookeo Infinity), new categories, and expansion in e-commerce and social commerce.

• ESG initiatives advanced, including energy efficiency, circular economy projects, supplier engagement, and significant GHG emission reductions.