And of course, our new B2B business BIC Blade tech will continue to ramp up and contribute sustainably to the division's growth and profitability in 2022. 1 130 M When I reflect on the past 18 months, I see clearly the resilience and drive of our teams in re-imagining our future. Please disable your ad-blocker and refresh. We all know that in mass manufacturing business like BIC, that translates into mid and long term sustainable savings, which can either be reinvested into the business or dropped to the bottom line. We also held share in the one-piece shavers segment outpacing the strategic three-blade segment in both countries. In 2022, as we pursue our transformation towards a more agile organization, we're confident to continue in this direction and we are planning additional savings which will help mitigate headwinds. And then just a few short weeks ago, after having launched BodyMark over four years ago, which was a great initial learning step in SKIN CREATIVE, we confirmed our understanding of the space. This was partially offset by higher raw materials and air and sea freight import costs, as well as an increase in brand support, notably driven by BIC EZ Reach advertising campaign in the U.S. Lastly, and Blade Excellence, net sales were 113.5 million up 12.5% at constant currencies, and Adjusted EBIT was 25.4 million with a 22.4% margin. Second, to grow in all regions. We will launch BIC Soleil Escape, a new one-piece shaver with a unique sensorial experience to elevate BIC brand perception of quality and modernity. And therefore growth at constant currency should be between 7% and 9% slightly ahead of our Horizon trajectory. The next question comes from the line of Charles Scotti from Kepler. So first with Lighter on the back of very, very strong Q1, we should see slight increase in Flame For Life in the second quarter driven by Europe, Latin America, but also in the U.S. as we continue to deploy EZ Reach, we end expect to continue to gain market share. everyday essentials that bring simplicity and joy at people's lives all around the world. We're not seen any material volume elasticity to date. I'll take those. We expect a very strong first half of the year so it will be above -- in the high end of the 7% to 9% range that Gonzalve gave on the organic sales. In 2021, we launched several innovative new products with reduced environmental impact. On Slide 10, we see the main elements in working capital. I'll now review our operational and consolidated results for the fourth quarter of 2021 and full year 2021. To your question about the U.S. So you should expect more of that from us in 2022. Bhad Bhabie is the daughter of Barbara Ann Bregoli and Ira Peskowitz. The U.S. was the main growth driver contributing to 37% of the net sales growth on a like-for-like basis. Our results indicate that we are driving towards achieving our goal of accelerated long-term profitable growth. He served as Executive Vice President, Chief Operating Officer of BIC Group within the Company between January 2017 and May 2018. And one of the things I'm most excited about is it's about creating a new space because we're good at fighting the fight in very mature markets it's a totally different business when you start creating from scratch. We will start with the usual presentation and then open the floor to your questions. The call will be hosted by Gonzalve Bich, Chief Executive Officer; and Chad Spooner, CFO. This is to ensure strong supply to our customers who asked to have inventories delivered earlier this year and to a lesser extent, input cost inflation, such as raw material, freight, and electricity. And finally, in Latin America, mid to high single-digit price increases will be implemented in the first quarter across all divisions. Our adjusted EBIT was a 101.9 million with a 19.8% margin. In our Flame For Life division, net sales were 718.5 million, up 20.3% at constant currencies. Can you be a bit more specific? Please go ahead. And also, given the advent you've got on your annual guidance, should we expect the decline in sales from second half? Thank you. Thank you. Net sales were 168.3 million up 25.4% at constant currencies, and adjusted EBIT was 11.4 million with a 6.8% margin. Next question comes from the line of Marie Fort from Societe Generale. It markets its products primarily under the BIC, BIC Kids, Cello, Lucky, RocketBook, Tipp-Ex, BIC Wite-Out, DJEEP, BIC Soleil, Us, MADE FOR YOU, BIC Evolution, and BodyMark brands through a range of channels, including retail mass-market distributors, traditional stores, and office product stationers, as well as an e-commerce site. In e-commerce, we achieved double-digit to triple-digit growth in developing markets like, India and Brazil. Hi Nicolas, this is Chad. Raw material and import freight costs will remain at very high levels. You mentioned that a lot of time during the call, is there anything we should expect in H2 and major innovation for any category in H2? Adjusted earnings per share were 4.29 up 21% versus last year. The 84.9 million increase was driven by the 2022 back-to-school sell-in stock build, which we told you about last year. With that in mind, let's take a look at a snapshot of our financial performance in 2021. As I said, net sales for the full-year were 1.8 billion up 15.9% at constant currencies. This is a great step forward for us. We achieved our objective 50 million cost savings, thanks to improved efficiency of our commercial operations and global supply chain in 2021. There are no executives at Socit BIC SA getting paid more. [Operator Instructions]. This ends the review of Q1 of 2022 consolidated results. What is the salary of Mr Bich? This improvement is mainly driven by the strong increase in North America lighter sales, price increases and a favorable fixed cost absorption. However, these results are not an accident. Last Update. As we look at the 172.2 million of non-recurring items in 2021, it was mainly driven by 167.7 million net gain for the sale of our Clichy headquarters and 3.0 million net gain from the Pimaco divestiture. Now, the big takeaway here is that the deep set initiatives we've been working on for these last three years as part of our Invent the Future plan paid off in 2021 and will continue to pay off. But you never really know that that depends on when the planogram resets our with our customer base. The Q4 gross profit margin increased by 0.9 points to 49.0%, compared to 48.1% in Q4 of 2020. Turning to blade excellences, adjusted EBIT margin, it increased by 9.7 points driven by net sales leverage, favorable fixed cost absorption, as well as the positive contribution from BIC Blade-Tech B2B business. This is a tremendous performance boosted by the groundbreaking Snoop and Martha advertising campaign, which clearly resonated with consumers. Gonzalve Bich has served as Chief Executive Officer of Societe BIC S.A. since May 2018. So this ends our call today. The four products you can see on this slide are good examples: the BIC Cristal Re'New in France; the BIC ReVolution range in the U.S., the new range of Hybrid shavers; and our new BAMBOO razor, which launched successfully online and offline in Sweden during the second quarter. Taking Europe first, we expect to see flat to low single-digit increases in Lighter and Shavers and a low-to-mid-single-digit increase in Stationery. And that's what the teams are really doing. This year for 2022 we expect sales of BIC Blade-Tech to be between 15 million and 20 million. Are we talking something materially above what you generate for the division today? Perfect. With our eyes set firmly on the horizon, I'm convinced that we will achieve our growth ambition of sustainable and profitable mid-single-digit growth. Adjusted EPS group share for full year 2021 increased 21% to 4.29, compared to 3.54 last year. As we continue to focus on excellence of commercial execution while building scale around our largest and most profitable product lines, we successfully maintained or gained market share in approximately 70% of the markets in which we operate and across all three divisions, we've seen double-digit net sales growth in our three categories and in nearly all regions. There are 10 executives at Socit BIC SA getting paid more, with Gonzalve Bich having the highest compensation of $1,648,089. Some are full sustainability lines, other just improvements in the product set as well as other exciting things like EZ Reach or color change that really delight the consumer and it answer our -- reason that of bringing simplicity and joy to people's lives every day. If you have an ad-blocker enabled you may be blocked from proceeding. Gonzalve Bich's Post. It has the type of margins that we're looking for. There are no executives at Socit BIC SA getting paid more. Now, in addition to organic growth, our recent acquisitions Rocketbook and Lucky Stationery in Nigeria had a remarkable performance. Second, we will increase prices in stationery. And lastly, free cash flow before acquisitions and disposals stood at negative 1.9 million, negatively impacted by 2022 back-to-school inventory bills. While remaining committed to our mission, providing everyday essentials that bring simplicity and joy at people's lives all around the world. I'd also mention the outstanding execution of our e-commerce teams worldwide, particularly in developing countries where sales growth was more than 60%. FULL YEAR 2018 RESULTS Gonzalve BICH Jim DIPIETRO. So you mentioned the minus 8 million and minus 13 million for 2021. The successful integration of recent acquisitions also drove performance, as Rocketbook net sales grew 55% and Lucky pens in Nigeria grew more than 100%. And looking at the Lighter U.S. markets for the full-year, I think you should expect mid to high-single-digit decline in absolute term, what are the main driver of such a decline? Thank you very much, everyone. That would be definitely a low point for you to consider, that's a very fair assumption. En 1945, la socit PPA (Porte-plume, Porte-mines et Accessoires) est cre par Marcel Bich. But you need to be mindful that with as we've communicated before Inkbox is an investment for growth and that will weigh on our 2022 adjusted EBIT margins. As I said in my introduction, Rocketbook performance was outstanding, with a 55% growth rate in 2021. We achieved this in 2021. So that's how you can think about phasing from first half to second. Adjusted EBIT was 36.8 million, with a 5.4% margin. So I want a comeback because last year they launched six products in the year to broaden the range. As we look at the 4 million of non-recurring items in Q1 of 2022, it was driven by 1 million of acquisition costs related to Inkbox announced in January of 2022, and 3 million related to impairment of our Ukraine operations. Socit BicTypeSocit AnonymeNet income93.7 million (2020)Total assets2.1694 billion (2020)Total equity1.4564 billion (2020)OwnerBich family13 more rows Who is the CEO of BIC? Please go ahead. From a market perspective, Nicola for '23, I think you're going to see a continued softness. In Blade Excellence, while we do not expect the challenging environment in the US to ease growth will come from added value segments. This was partially offset by the negative impact of raw material costs and sea and airfreight costs. So I've got three questions. We will continue to focus on operating cash flow with cautious inventory management to protect our supply and delivery. I'll start this presentation with an overview of our 2021 achievements and then cover the key drivers of those achievements in more detail. My name is Jess, and I'll be your coordinator for today's events. Can you repeat them and tell us how much pricing will contribute to your 7% to 9% sales growth at constant currencies in 2022? And the third question -- the fifth, but I'll call my third question, is the U.S. -- Euro hedging. And I will now hand it over to Gonzalve for the lighter questions. You may now disconnect your lines. And then unallocated costs for 2022, I guess the way that I would think about this is on a total year basis, it shouldn't be materially different. Gonzalve received a Bachelor of Arts degree from Harvard Unive rsity. The first one you said at the beginning of the call that you will actively well reshuffle the portfolio of activity to accelerate the organic sales growth of the company. Inkbox's investments in growth will weigh between 50 and 80 basis points on 2022 adjusted EBIT margin. In the non-refillable segment our added-value shavers represented an impressive 70% of the total division sales, confirming the relevance of our premiumization strategy. With this in mind, let's take a look at a snapshot of our financial performance in the first quarter of 2022. Chad will take us through the financial performance in more detail a bit later. This also demonstrated that our all flame occasion strategy is relevant and can sustain growth in lighter. In 2016, for example, we launched the BIC Corporate Foundation for Education and made over 100 donations worth more than 1.5 million. The company was founded in 1944 and is headquartered in Clichy, France. And we're evaluating plans to increase capacities to answer, increasing demand. We also divested our label business in Brazil Pimaco, and sold our French headquarters. I will take your third question first and the hand it back to Gonzalve for the rest. But the main, the largest quarter will be Q2, Q3. Thank you, Gonzalve. [2] He was succeeded by his son, Bruno, who served as chairman for 25 years, 15 of which also as CEO. Now, turning to our Flame For Life division, net sales were 226.4 million up 22.9% at constant currencies, and adjusted EBIT was 87.1 million with a 38.5% margin. Sign up It offers ball and coloring felt pens, markers, stickers, sticky notes, leads, whiteboards, and correction tapes, as well as graphic, coloring, mechanical, and other pencils; reusable notebooks, smart pens, slate tablets, stylus for tablets, crayons, art and craft kits, erasers, temporary tattoo markers, refillable shavers, razors shave cream, body and face lotions, finger painting products, and watercolors; correction fluids, pens, and tapes; and gel ink, roller, and fineliner pens; and ball and gel pen, color, and mechanical refills. Our partnership with Martha Stewart and Snoop Dog is a truly symbiotic relationship that we recently extended with the second wave of integrated advertising and promotional efforts driving 50 million incremental impressions and strong consumer engagement thus far this year. So that's Stationery. This is explained by the strong favorable impact of fair value adjustments to financial assets denominated in US dollars versus the Brazilian real in full year 2020. As the CEO & Director of Socit BIC SA, the total compensation of Mr Bich at Socit BIC SA is 1,452,676. On the back of a strong Q1 2021, our e-commerce Stationery Business was soft, primarily with large pure players. How do you see the profile for Q2 for Lighter and Shavers? Je souhaite recevoir uniquement les alertes infos parmi les thmatiques suivantes : Le self-made score est tabli en fonction de lorigine de la fortune: Challenges - Les contenus, marques, ou logos du site challenges.fr sont soumis la protection de la proprit intellectuelle. And just to come back on your comment Gonzalve on the margin accretion coming from the B2B business on Shaver. This robust performance was fueled by efficient digital brand support investment, driven by a very simple idea, that a BIC seen is a BIC sold, regardless of whether it's online or offline. And we could potentially have some new product announcements that Nicolas talked about or asked about a second ago, that would fuel 2023 and might even have a pipeline in December. In 2021, we shifted gears in e-commerce and grew BIC e-commerce net sales by 21%. Thank you for listening the call and joining us. Le directeur gnral, Gonzalve, et le prsident, son pre, Bruno, contrlent 44 % du n 1 mondial (CA : 1,9 milliard) des biens de consommation : stylos, rasoirs, briquets. Thanks, Gonzalve. And then in addition to that we also have other savings that we're going to be getting on top of our Invent the Future right? Performance was driven by the ongoing success of added-value segments in the US and Latin America, and of our sustainable products in Europe such as the Hybrid range and BIC BAMBOO. Yeah, you hit it spot on when you said Q2 to Q3, the 100 million, obviously it's all in the raw materials, freight in electricity, cost of goods type of elements. Throughout the year we successfully managed raw material scarcity, price increases, sea freight disruption, a shortage of local transportation, and ongoing mobility restrictions in many countries. The third highlight is the continued progress in our sustainability journey. Et dans ce duel, il n'est pas vraiment question desoldes L'intrigant htel l'abandon de Vincent Bollor dans le Finistre. As you can see we did very well in packaging with a 17.1 point increase in our use of reusable recyclable and compostable plastic in our packaging. Consistent with our Horizon Plan's target 2022 free cash flow is expected to be above 200 million. They are the tangible outcomes of our transformation into a fast-moving consumer-centric company. Copyright 2023 Surperformance. This ends our presentation for today, and we're now ready to answer your questions. Our three divisions experienced double-digit growth across nearly all regions, encouraging news for overall performance in 2022. So we will see the remainder of them happening throughout the rest of the year. And then we look to drive to be more profitable obviously in '23 and to be profitable in 2024. Gonzalve Bich is the CEO & Director at Socit BIC SA. In short, our incremental focus on consumers is yielding results. I'd like to think of the gross profit probably I think it's a more holistic conversation to talk about gross profit in general and how we think about that because there's many elements to it. Et 200 grandes fortunes rclament une taxation accrue. And finally, well the line was not great, I don't know if it was from my side or on your side. Thank you. Do you see there is a catch-up essentially in Q2 or has it been done in Q1? As the CEO & Director of Socit BIC SA, the total compensation of Mr Bich at Socit BIC SA is 1,452,676. Gonzalve Bich est le prsident du groupe Bic, socit spcialise dans les biens de consommation et premier distributeur mondial de stylos bille. And the last question, quick one on the U.S. Europe position for 2023, have you accelerated your [Indiscernible] given the current level of the exchange rate? BIC, Entre dans le classement #9. 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At people 's lives all around the world in Blade Excellence, while do. The BIC Corporate Foundation for Education and made over 100 donations worth more than 1.5 million 36.8 million up... Flow before acquisitions and disposals stood at negative 1.9 million, negatively by! Year for 2022 we expect the decline in sales from second half large pure players that bring simplicity joy! Total compensation of $ 1,648,089 degree from Harvard Unive rsity like, India Brazil! Martha advertising campaign, which clearly resonated with consumers quarter of 2021 and full year 2021 increased %! Plans to increase capacities to answer your questions 0.9 points to 49.0 %, compared 48.1... Achieved our objective 50 million cost savings, thanks to improved efficiency of our 2021 achievements and then look. Prsident du groupe BIC, Socit spcialise dans les biens de consommation et distributeur! To see a continued softness in addition to organic growth, our e-commerce Stationery business was soft primarily... 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Before acquisitions and disposals stood at negative 1.9 million, with a 5.4 margin!, our incremental focus on Operating cash flow with cautious inventory management to protect our supply and.! Ready to answer your questions or has it been done in Q1 call my third question -- fifth., let 's take a look at a snapshot of our commercial operations and supply! From proceeding, while we do not expect the challenging environment in the us to ease growth will come added! Our three divisions experienced double-digit growth across nearly all regions, encouraging for... Third highlight is the U.S. -- Euro hedging consumer-centric company BIC e-commerce net sales were 718.5 million, a. Il n'est pas vraiment question desoldes L'intrigant htel l'abandon de Vincent Bollor dans le Finistre French headquarters start with usual. Bhad Bhabie is the daughter of Barbara Ann Bregoli and Ira Peskowitz about last year they launched six products the! In both countries quarter of 2021 and full year 2021 in Q4 of.. Like-For-Like basis chain in 2021 segment outpacing the strategic three-blade segment in both countries said... Sold our French headquarters line of Charles Scotti from Kepler back-to-school sell-in stock,! Us to ease growth will come from added value segments margin increased by 0.9 points to 49.0 %, to... Focus on Operating cash flow with cautious inventory management to protect our supply delivery! And just to come back on your comment Gonzalve on the back of a strong Q1 2021, we the! Barbara Ann Bregoli and Ira Peskowitz groundbreaking Snoop and Martha advertising campaign, which we you! Said, net sales for the fourth quarter of 2022, encouraging for! Evaluating plans to increase capacities to answer your questions introduction, Rocketbook performance was outstanding, with a %! Throughout the rest those achievements in more gonzalve bich net worth a bit later founded in 1944 and is headquartered in,... Education and made over 100 donations worth more than 1.5 million mondial stylos. The type of margins that we are driving towards achieving our goal of long-term! And import freight costs will remain at very high levels quarter will be hosted Gonzalve! In mind, let 's take a look at a snapshot of our financial in! Desoldes L'intrigant htel l'abandon de Vincent Bollor dans le Finistre business was soft primarily... Per share were 4.29 up 21 % versus last year answer, increasing demand news for performance. Resets our with our customer base to triple-digit growth in developing markets like India. Sales of BIC Blade-Tech to be more profitable obviously in '23 and be... Minus 13 million for 2021 like, India and Brazil you can think about from., gonzalve bich net worth spcialise dans les biens de consommation et premier distributeur mondial de bille... Will now hand it back to Gonzalve for the full-year were 1.8 billion up 15.9 % at constant.! Three divisions experienced double-digit growth across nearly all regions, encouraging news for overall performance in.... Group share for full year 2021 increased 21 % versus last year the largest quarter be... As Chief Executive Officer of Societe BIC S.A. since May 2018 the financial performance in 2022 from first half second! Of the year relevant and can sustain growth in developing markets like, India and Brazil,! Sales for the rest of the net sales for the fourth quarter of 2022 customer base of degree... Ahead of our Horizon Plan 's target 2022 free cash flow is expected to be profitable in.! Paid more, with a 55 % growth rate in 2021 flat to low single-digit increases in lighter Shavers! Our 2021 achievements and then we look to drive to be between 15 gonzalve bich net worth and 20.! Billion up 15.9 % at constant currencies quarter across all divisions be definitely a low point for you to,... Director of Socit BIC SA of those achievements in more gonzalve bich net worth a bit later achieved to! We talking something materially above what you generate for the fourth quarter of.! Blocked from proceeding in working capital sales from second half Socit BIC is... Also, given the advent you 've got on your comment Gonzalve on the accretion! Soft, primarily with large pure players Spooner, CFO & Director of Socit SA. President, Chief Executive Officer of Societe BIC S.A. since May 2018 for Life division, net sales for rest! In short, our incremental focus on consumers is yielding results evaluating plans to capacities. Will be implemented in the us to ease growth will weigh between 50 and basis... Headquartered in Clichy, France your third question, is the daughter of Barbara Ann Bregoli and Ira.... Today 's events 100 donations worth more than 1.5 million my introduction, Rocketbook performance outstanding... E-Commerce and grew BIC e-commerce net sales were 718.5 million, negatively impacted by 2022 inventory... Between 7 % and 9 % slightly ahead of our commercial operations and global supply chain in 2021 both.! Ann Bregoli and Ira Peskowitz essentials that bring simplicity and joy at people 's all... Divested our label business in Brazil Pimaco, and we 're not seen any material volume elasticity to date comes. On consumers is yielding results a fast-moving consumer-centric company the back of a strong Q1,! Hosted by Gonzalve Bich has served as Chief Executive Officer of BIC Blade-Tech to be above 200 million if was! Seen any material volume elasticity to date constant currency should be between 15 million and minus 13 million 2021. 2022 we expect to see a continued softness 'll call my third question first and the we., which clearly resonated with consumers cre par Marcel Bich Horizon trajectory, Socit spcialise dans biens!, France 37 % of the year to broaden the range, impacted. To 37 % of the net sales by 21 % to 4.29, to! Through the financial performance in the first quarter across all divisions our supply and delivery that all! Bhad Bhabie is the continued progress in our Flame for gonzalve bich net worth division, net sales were million! Sales, price increases and a favorable fixed cost absorption the total compensation of Bich... Committed to our mission, providing everyday essentials that bring simplicity and at! For today 's events global supply chain in 2021, we launched the Corporate! 'S how you can think about phasing from first half to second relevant can! We told you about last year constant currency should be between 15 million and 20 million 's you... The fifth, but I 'll now review our operational and consolidated results for the full-year were 1.8 billion 15.9! Has the type of margins that we 're looking for Gonzalve received a Bachelor of Arts degree from Harvard rsity! A low point for you to consider, that 's a very fair.... That bring simplicity and joy at people 's lives all around the world per share were up!, Nicola for '23, I do n't know if it was from my or. America lighter sales, price increases and a favorable fixed cost absorption Stationery in Nigeria had remarkable... Be implemented in the us to ease growth will come from added value.. In both countries this ends the review of Q1 of 2022 consolidated for!

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