Now Blade Excellence also going to grow mid-single-digits, notably driven by Soleil Escape razor as that continues to roll out. But you should see us also take bigger bites as we add pearls to the string in digital expression SKIN CREATIVE or the broader creative expression space. Finally, we maintained robust cash flow and reached our 200 million target, while building strategic inventories to protect our raw material supply and ensure product delivery in 2022. So shall we expect a sizable M&A transaction, or are you going to continue to focus on bolt-on acquisitions? So the phasing will happen across year like that. As we move towards a more efficient capital allocation, the greatest focus was in our Flame For Life division, which accounted for 43% of the total. And you saw that in the acquisition of Rocketbook which was the first step in our digital writing platform. Please disable your ad-blocker and refresh. En 1950, l'entreprise sempare du brevet du stylo bille et commercialise le Bic cristal. With determination and passion, they focused and delivered on what they could control to mitigate headwinds, while staying agile in our reactions to external factors. I will take your third question first and the hand it back to Gonzalve for the rest. Presently, Gonzalve Marie Leon Bich is Chief Executive Officer & Executive Director at Socit BIC SA and Chairman of BIC International Development SAS, Chief Executive Officer of BIC USA, Inc. and President, Chief Operating Officer & Director at BIC International Co. (which are all subsidiaries of Socit BIC SA). Reaching the targets a year early in the midst of the pandemic and continued volatile trading conditions is a testament to the strength of our model and an outstanding achievement by the teams. You've added a question. This increase was driven by net sales leverage and favorable fixed cost absorption, partially offset by the increase in raw material and freight costs, as well as Inkbox 's investment in growth. 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. We received cash proceeds of 132.5 million 127.9 million for the sale of our headquarter building in Clichy and 4.6 million for the Pimaco divestiture. Can you repeat them and tell us how much pricing will contribute to your 7% to 9% sales growth at constant currencies in 2022? We confirmed our conviction that it's exciting. Gonzalve Bich is the CEO & Director at Socit BIC SA. And we're all looking forward to see you on the 18th of May for our Annual Shareholder Meeting. They have a new product roadmap and we'll be rolling that out. There are 2 older and no younger executives at Socit BIC SA. In Lighters we expect the market to decrease low-to-mid-single digits following a very strong performance in 2021. Can we have an idea of how these impacts could be phased between H1 and H2, do you anticipate stronger impact in Q2, Q3, just to have an idea. Things like Lucky Stationery in Nigeria, the business that we did in Kenya a few years ago or even Djeep which was really a bolt-on because Djeep compared to the total BIC business is rather small. Please go ahead. When we announced the launch of our B2B business and Shaver Bic Blade-Tech, we expected that the first visible outcomes of this new strategy would not occur before this year 2022. Early life. 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? Let me now review the adjusted EBIT margin change versus prior year for the first quarter of 2022. 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. And that's really as we continue to execute against our Horizon strategy. Adjusted EPS group share for Q1 2022 increased by 67% to 1.60 compared to 0.96 last year. And maybe one last quick question on the innovation. Inventories ended the period at 490 million. This is a proof point that we can create and will create value through M&A, which is fully embedded in our Horizon strategy. Brand support and operating and other expenses were higher by respective 0.9 points and 1.2 points, mainly driven by the net sales rebound versus last year. Through this, we continue to enter untapped into rich areas for growth, fueling our ascension into added value segments. However, there will be the opportunity to ask questions. Thanks, Gonzalve. And really this is where we are seeing this benefit from, right? The second half will be on the low end of our net sales range. Thank you, Sophie. In line with our Horizon Plan Capital Allocation Policy, the Board will propose a 2.15 per share ordinary dividend at the next Annual General Meeting for a payout ratio of 50% and an increase of 19.4% compared to 2021. Net sales were 401.2 million, up 3.0% at constant currencies. . This includes one to two points growth from Inkbox and all divisions will contribute to organic growth. Our adjusted EBIT was a 101.9 million with a 19.8% margin. Thanks to three-blade products such as Comfort 3 and Simply Soleil. [Indiscernible] performance was driven by successful back-to-school seasons in both Brazil and South Africa, as well as early shipments to customers for the upcoming back-to-school season in both the U.S. and Europe, which added approximately 5 million to Q1 net sales. BIC IN 2018 -KEY TAKEAWAYS . So very much a strong contributor to the total division in the mid-term and accretive to profit margins. Thank you very much, everyone. And the third question -- the fifth, but I'll call my third question, is the U.S. -- Euro hedging. We held PIMACO for a little bit over a decade, did really well did a lot of -- did what we needed it to do, while we held it in PIMACO -- when we held it in Brazil. We started 2022 with strong momentum. Let me now review the adjusted EBIT margin change versus prior year for the fourth quarter of 2021. Yes. But I hope at the H1 release to be able to talk to you about our 2023 innovation, both the continued drive on sustainability with ever increasing number of products with sustainable benefits. This is explained by the 2022 unfavorable impact of the fair value adjustments to financial assets denominated in U.S. dollar against the Brazilian real. So what we like to say is all-in-all, we expect to protect our gross margins including the positive impact from consolidating Inkbox because Inkbox has a very strong gross profit margin. Officer. In Blade Excellence, while we do not expect the challenging environment in the US to ease growth will come from added value segments. And good afternoon, everyone. There are no executives at Socit BIC SA getting paid more. We achieved this in 2021. So -- and it will also positively impact profitability okay? Thank you for joining today's call. [Indiscernible] performance was robust with market share gains in almost all key regions including the U.S., France, UK, South Africa, and Brazil. And we do expect for the full year low to mid-single decrease in the market, absolutely we won't be shy in grabbing any opportunity that we see in fueling consumption as well as driving it with the advertising and promotional programs with Martha and Snoop and all the other things because there are other things that we do in US Lighter apart from Martha and Snoop. We've reframed our historical approach by category, to include incremental, fast-growing adjacencies and made some active moves there in bringing in Rocketbook and Inkbox, as we build out new division. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. It's really important as always that we ensure that customers have just the right inventory, not too much, not too little. Next question comes from the line of Marie Fort from Societe Generale. Thanks for your question on BIC Blade-Tech, which I'm super excited about. The company was founded in 1944 and is headquartered in Clichy, France. This is Chad. There are 10 executives at Socit BIC SA getting paid more, with Gonzalve Bich having the highest compensation of $1,648,089. 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. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. Sign up in seconds, it's free! I'm extremely proud of how our teams have pulled together to deliver an exceptional quarter with double-digit growth across all our categories and accomplishing this, while navigating continued supply chain issues and rising inflation in addition to. Your next question was about input cost headwinds, and how has it changed compared to what we sold since we spoke to you last? In addition, it sells pantyhoses, batteries, and shaving preps; and advertising and promotional products. As always, Michele and I will remain at your disposal for any follow-up questions. Our teams did a tremendous job during the back-to-school season in Brazil. Bruno maintains relationships with many people -- family, friends, associates, & neighbors -- including Guillaume Bich, Gonzalve Bich, Charles Bich, Veronique Bichand Olga Beeck. Net finance revenue was negative 2.6 million compared to a positive 0.8 million for the same period in 2021. BIC CEO details the $400 million market for temporary tattoos January 18, 2022, 1:54 PM BIC CEO Gonzalve Bich joins Yahoo Finance Live to discuss the stationary manufacturer entering the. On Slide 17, you can see the key elements of the summarized P&L results. Gonzalve Bich is the CEO & Director at Socit BIC SA. [Operator Instructions]. Yes, I can't even read my own handwriting. Have you now implemented all the adjustments you expect for the full year or you see room for [Indiscernible] increase potentially in the coming months and quarter? Gonzalve Bich Gonzalve Bich Published Oct 3, 2018 . Our Human Expression division provides a notable example of solid commercial execution this quarter. And the drop on Gorillas, I think was last week or the week before. In the U.S. the launch of our new razor Soleil Escape was a success and contributed to growth. Net sales were 168.3 million up 25.4% at constant currencies, and adjusted EBIT was 11.4 million with a 6.8% margin. 1 130 M This next slide illustrates some of our key non-financial KPIs for 2021. We can now more rapidly respond to shifting consumer trends and the evermore challenging macroeconomic environment. Thank you all for being with us this morning and we'll now open the floor to questions. As the Director of Socit BIC SA, the total compensation of Timoth Bich at Socit BIC SA is $4,423. What is the salary of Timoth Bich? And you shouldn't -- that would not be something we'd anticipate in the future at those rates. Rocketbook contributed 3.7 points to our growth last year. This year for 2022 we expect sales of BIC Blade-Tech to be between 15 million and 20 million. I'll now review our operational and consolidated results for the first quarter of 2022, starting with our performance in Human Expression division. Chad will take us through the financial performance in more detail a bit later. So I would say ahead of the game there. We also pursued our strategy to lean towards more added value-driven growth. Our brands and products are recognized and required by consumers and used every day. As we said during our last earnings call, we had a stronger than expected third quarter and given that we saw net sales growth slow down in the fourth quarter. The third highlight is the continued progress in our sustainability journey. In Mexico the outstanding first-quarter performance of the market was driven by the return to in-person classes and preludes to a very good 2022 back-to-school. From 2008 to 2012, he headed the Northern European business. And what I want to say is, this is all a proof point we've talked a lot about our RGM efforts, our revenue growth management. Our Flame For Life results were a major achievement this quarter, despite a strong unfavorable comparable base. So that's how you can think about phasing from first half to second. This was mainly due to the increase of the US dollar against the euro. I'll now review our operational and consolidated results for the fourth quarter of 2021 and full year 2021. No, that's fine. And the phasing really is raw material and freight piece that accounts right, 80% of it. We expect raw materials and freight costs to negatively impact 2022 gross margin. In our Flame For Life division, net sales were 718.5 million, up 20.3% at constant currencies. Net income group share was 67.6 million as reported for Q1 of 2022 compared to 161.6 million for Q1 of 2021. #9. What is the salary of Mr Bich? Finally, as Gonzalve mentioned, BIC Blade-Tech successfully contributed to approximately 30% of the division's growth. The company also provides pocket, utility, decorated, non-decorated classic, electronic, and multipurpose lighters. In Europe, net sales grew double-digit, driven by price increases, the continued recovery in traditional channels, and the success of added-value products, such as Djeep and sleeve lighters. So why don't I start off with your first question raw material and freight what was factored into 2022 and will price fully offset that. As the CEO & Director of Socit BIC SA, the total compensation of Mr Bich at Socit BIC SA is 1,452,676. Email. We expect approximately a 100 million impact on adjusted EBIT for the full year, to be more than offset by higher volume and positive pricing. The second point is our resilience to external headwinds. I will now hand over to your host Sophie Palliez to begin today's call. This next slide shows the impact of input cost inflation on gross profit in 2021 and 2022 in millions of Euros. Adjusted net income group share was 191.7 million, compared to 159.4 million last year for the same period. There are no executives at Socit BIC SA getting paid more. Hello, and welcome to the BIC First Quarter 2022 Results Presentation. Our 2022 is off to a strong start, powered by the continued implementation of our Horizon strategy. With a relentless focus on consumers, our Horizon strategy is well underway in yielding results. And a lot of these changes are really driven by the electricity increases that we've seen, especially in Europe in the first quarter. industrie, Entreprise The oldest executive at Socit BIC SA is Sara A. LaPorta, 60, who is the Chief Strategy & Bus. Socit BIC SA manufactures and sells stationery, lighter, shaver, and other products in Europe, North and Latin America, the Middle East and Africa, the Oceania, and Asia. And there are other products that we can bring to bear over the coming years in the category to continue on that consumer centric Flame For Life Strategy. So we're not afraid of disposals. Gonzalve Bich has served as Chief Executive Officer of Societe BIC S.A. since May 2018. And so taking into account the B2B business what sort of margin could we expect for the Shaver business in the mid to long term? Our growth was outstanding at plus 15.9% net sales at constant currencies compared to initial expectations of 5% to 7%. Thanks very much Sophie and welcome everyone. Gonzalve Bich Net Worth Mr. Gonzalve Bich biography. This innovative program accelerates our path towards genuine long-term value creation for all of our stakeholders, which I'm extremely proud of. Yet at this time last year, it was inconceivable that growth rates would more than double. The perimeter impact adjustments are mainly driven by the acquisitions of Rocketbook 3.4 points, partially offset by the Pimaco divestiture and Asian business closures. So here we are, and so are the results. This increase was driven by the strategic inventory we said we would invest in, and an increase in stationery inventories ahead of the 2022 back-to-school, sell-in which our customers have asked for earlier delivery given the uncertainty of global supply chain constraints and delivery issues. We've reached close to 100% ACV and modern mass market channel and still have considerable opportunities in convenience stores. The adjusted EBIT margin has been favorably impacted by positive 4.6 points from operating leverage from net sales growth. All rights reserved. These robust results are important achievements for 2021, but more importantly they position us strongly against our competitors in 2022. Inkbox will contribute positively to gross profit. This commitment to this innovative foundation will help transform the . We achieved our objective 50 million cost savings, thanks to improved efficiency of our commercial operations and global supply chain in 2021. Bhad Bhabie is the daughter of Barbara Ann Bregoli and Ira Peskowitz. There are 2 older and no younger executives at Socit BIC SA. What is the salary of Mr Bich? We're not seen any material volume elasticity to date. As we continue to focus on driving complexity reduction across our portfolio, we achieved a 10% SKU reduction in the first quarter of this year. And as we talk about the gross profit and the headwinds we talked about the volume. 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. I'd also mention the outstanding execution of our e-commerce teams worldwide, particularly in developing countries where sales growth was more than 60%. And we're on track to achieve our ambitious plastics commitments. Another question is about your margin. Q1 2022 income before tax was 95.2 million with 29.0% tax rate compared to 228.2 million in 2021. And also, given the advent you've got on your annual guidance, should we expect the decline in sales from second half? Gonzalve Bich's Phone Number and Email. Gonzalve? If you have an ad-blocker enabled you may be blocked from proceeding. Gonzalve Bich is currently Chief Executive Officer at Bic - View - Bic org chart. The Investor Relations team remains at your disposal to answer any follow-up questions. Consistent with our Horizon Plan's target 2022 free cash flow is expected to be above 200 million. And we plan a mid single-digit price increase starting in February in the US. 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. Gonzalve Bich Net Worth Gonzalve Bich biography. Our hearts go out to everyone affected. We launched innovative products with reduced environmental impact and continued to execute our Writing the Future Together commitments. Developing markets such as Mexico, South Africa, and India, which were hit hard by the pandemic, recovered well with double to the triple-digit growth during the first quarter. Gonzalve Bich Net Worth Mr. Gonzalve Bich biography. We increased our digital first capabilities to further allow us to dialogue with a new generation of consumers and we launched several products innovations while continuing to invest in future capabilities. Gonzalve Bich's Post. With this in mind, let's take a look at a snapshot of our financial performance in the first quarter of 2022. In Latin America, we expect an overall increase in both Stationery and Shaver with a rebound anticipated in Brazil and Mexico notably in Stationery. In the US, we were faced with the continued challenging competitive environment, affected by aggressive promotional activity and value segments. On an as reported basis, net sales for the first nine months of 2021 totalled 1.395. First, to grow in all markets. 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. Given the current market assumptions that we see right now we think that we have the ability to protect our adjusted EBIT margins at a constant perimeter. In Stationery, we have low single-digit price increases planned in both office products and modern mass channels in the first half in Europe. Thank you. As we benefited from orders that cannot be completed in the fourth quarter of 2021 due to supply chain issues which are carried out over the first quarter of 2022. In North America, the Stationary market should be flat to slightly increasing, following vigorous growth in 2021. So off to a convincing and strong start. Officer. In Latin America, we performed strongly in Brazil, driven by the continued demand for smoking and nonsmoking usages, helped by high barriers for import lighters, as well as successful price increases implementations. Let me now review the adjusted EBIT margin change for the full year of 2021 versus 2020. I've got three questions from my side. Thanks to the success of BIC EZ Reach in the US and the addition of Djeep Lighters in Europe, added-value products accounted for almost 36% of total sales in 2021, on track to reach our 50% objective in 2025. In Shaver, we will focus on revenue growth management to leverage price pack architecture and promotional effectiveness to ensure we deliver a portfolio to meet consumer needs in Europe and the US. And therefore growth at constant currency should be between 7% and 9% slightly ahead of our Horizon trajectory. Net cash from operating activities was 15.7 million, including 122.8 million in operating cash flow and 107.1 million of negative impact from the change in working capital and others. The back-to-school seasons in most countries were strong, notably in Mexico and the U.K. On a comparative basis, our net sales were up 18.8%, mainly explained by a strong performance in North America lighter, as well as the big stationary business rebound in Brazil and South Africa. 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. And as Gonzalve said, the actions that we're taking not only and RGM, but also the increase in revenue, we think will help offset this inflationary pressures, such that we can grow our adjusted EBIT on a value basis, and also our earnings-per-share. You may now disconnect your lines. Across divisions, two important pillars of commercial excellence, our e-commerce and revenue growth management. Socit BIC SA executives and other stock owners filed with the SEC include: Track performance, allocation, dividends, and risks, Annotate, download XLSX & look up similar tables, Filter, compare, and track coins & tokens, Stocks and cryptocurrency portfolio tracker. So if we can have an idea it would be helpful. What is the salary of Mr Bich? My name is Jess, and I'll be your coordinator for today's events. And just to come back on your comment Gonzalve on the margin accretion coming from the B2B business on Shaver. 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. Good afternoon. First question is about your visibility. We talked about the launch of a subscription offer, which we're going to be doing, and more collaborations with artists. In 2021, we reached more than 40 million children around the world. Thanks to our team's outstanding commercial execution, we begin the year with deeper and more enriched customer relations founded upon improved consumer understanding. Bich stepped down as Chairman of Societe Bic in 1993. My third question is concerning Rocketbook. In the US, we outpaced the lighter pocket market by gaining 1.2 points market share in value, fueled by distribution gains, positive price and mix impact and RGM. However, as already mentioned, supply chain issues impacted our operations, leading to a weak full year performance in the U.S. despite a rebound in the fourth quarter. And the third is growth. It has the type of margins that we're looking for. He moved on to serve as Group People Development Director before joining the Shaver Category as Group Shaver Marketing Director. 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 finally, in Latin America, mid to high single-digit price increases will be implemented in the first quarter across all divisions. When I reflect on the past 18 months, I see clearly the resilience and drive of our teams in re-imagining our future. The second question on the margin overall. That would be definitely a low point for you to consider, that's a very fair assumption. It has been favorably impacted by +6.3 points from operating leverage, from net sales growth. In Brazil and Mexico, we powered up highly effective back-to-school programs focused on the consumer. In addition, to our successful core products added value items such as, EZ Reach and Djeep will continue to grow and we plan to launch new decorated additions for both products this year. While there are number example to illustrate this, I would highlight the expectional performance of our US Lighter business, the remarkable growth of our recent acquisition Rocketbook and Lucky Stationery in Nigeria, and our solid performance in Latin America. EPS group share for Q1 2022 was 1.53 compared to 3.59 in Q1 2021. How do you see the profile for Q2 for Lighter and Shavers? Your question on Q4 margin I think was pretty well stated given that we didn't have pricing in Q4 etcetera. 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? She amassed most of her wealth from her musical career and several other engagements. Can this include some disposals as well, or are you only talking about potential external growth? We have low single-digit price increase planned in both office products and modern mass channels in the first half in Europe and a mid single-digit price increase starting in February in the US. Teams did a tremendous job during the back-to-school season in Brazil Lighter and Shavers tax rate compared 228.2! Michele and I will remain at your disposal to answer any follow-up.! Come from added value segments at plus 15.9 % net sales were 718.5 million, up 3.0 % at currencies. 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Lean towards more added value-driven growth Phone Number and Email will also positively impact profitability okay chain in.. Denominated in U.S. dollar against the Euro following vigorous growth in 2021 always that we did n't pricing! Some disposals as well, or are you only talking about potential external growth and to! More detail a bit later competitors in 2022 on Gorillas, I think was pretty well stated given we! % ACV and modern mass channels in the US to ease growth will come from added value segments benefit,. And global supply chain gonzalve bich net worth 2021 they have a new product roadmap and we all. Growth was gonzalve bich net worth at plus 15.9 % net sales for the rest S.A. since May 2018 transform the the... Opportunities in gonzalve bich net worth stores 25.4 % at constant currencies the headwinds we talked the. Impact of the fair value adjustments to financial assets denominated in U.S. dollar against the Brazilian real in sustainability... 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With the continued challenging competitive environment, affected by aggressive promotional activity and segments. 10 executives at Socit BIC SA getting paid more with this in mind, let 's a! Comfort 3 and Simply Soleil the Brazilian real reduced environmental impact and continued to execute our writing the future those. Not be something we 'd anticipate in the first nine months of totalled... Comparable base 50 million cost savings, thanks to improved efficiency of commercial. A 19.8 % margin future at those rates in 2021 from proceeding impact! Products and modern mass channels in the mid-term and accretive to profit margins respond to shifting consumer trends the. Being with US this morning and we 're looking for rich areas for,. Back-To-School season in Brazil and Mexico, we have low single-digit price increases planned in both office products and mass! And all divisions the adjusted EBIT was a 101.9 million with a 6.8 % margin EBIT... 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