BIC(Societe)

BB

Equity

ISIN FR0000120966 / Valor 512380

Euronext - Euronext Paris (2024-09-18)

EUR 60.40-0.49%

BIC(Societe)
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About company

Société BIC is a global company known for its production of disposable consumer products, including writing instruments, lighters, and shavers. Founded in 1944 by Marcel Bich and Édouard Buffard, the company initially focused on manufacturing parts for writing instruments before launching its own ballpoint pen under the BIC® brand in 1950. Over the years, BIC has expanded its product line to include a wide range of stationery products, lighters, and razors, emphasizing high-quality, safe, and affordable essentials for everyday use. The company has a significant international presence, having entered markets across Europe, the Americas, Africa, the Middle East, and Asia. BIC's commitment to innovation is evident in its product development, such as the BIC® 4-Color™ pen, the BIC® Cristal® pen, and more recently, digital writing solutions and unisex grooming products. BIC's products are integral to daily life for millions of consumers around the world, embodying the company's mission to bring simplicity and joy to everyday life through its trusted, essential products.

Summarized from source with an LLMView SourceSector: Consumer Cyclicals

Net Sales Performance

In the second quarter of 2024, BIC(Societe) reported net sales of €617.8 million, a decrease of 3.2% compared to the same period in 2023. For the first half of 2024, net sales were €1,139 million, down by 0.5% at constant currency excluding Argentina. This decline was primarily driven by negative performance in North America, which was partially offset by strong growth in other regions.

Segment Analysis

BIC(Societe)'s Human Expression segment saw net sales of €453 million in the first half of 2024, marking a 2.3% increase at constant currency excluding Argentina. The Flame for Life segment experienced a 5.8% decline in net sales, while the Blade Excellence segment grew by 3.5%, driven by solid performance in Europe, Latin America, and the Middle East and Africa.

Adjusted EBIT and Margins

For the first half of 2024, BIC(Societe) reported an adjusted EBIT of €170 million, maintaining an adjusted EBIT margin of 14.9%, consistent with the first half of 2023. The gross profit margin remained stable at 49.3% of net sales, totaling €562 million. The second quarter of 2024 saw an adjusted EBIT margin increase to 17.4%, up by 90 basis points year-on-year.

Free Cash Flow

BIC(Societe) generated a free cash flow of €37 million in the first half of 2024, a significant increase from the €2.5 million reported in the same period of the previous year. This improvement was driven by good business performance and a reduction in working capital requirements, despite higher trade and other receivables linked to back-to-school seasonality.

2024 Outlook

Looking ahead, BIC(Societe) expects full-year 2024 net sales to grow in the low single digits at constant currency. The company anticipates a slight improvement in the adjusted EBIT margin and aims to achieve a free cash flow above €220 million for the year. BIC remains focused on executing its strategic plan and adapting its cost structure to the current challenging business environment.

Summarized from source with an LLMView Source

Key figures

-4.28%1Y

13.5%3Y

-0.74%5Y

Performance

23.8%1Y

23.5%3Y

26.5%5Y

Volatility