So a strong first half of the year. The oldest executive at Socit BIC SA is Sara A. LaPorta, 60, who is the Chief Strategy & Bus. Full year 2021 income before tax was 447.8 million with a 29.8% tax rate compared to 155.3 million in 2020. Let me pause here to highlight the incredible job of our Brazilian team. You've got on the second quarter because we understand that you would good visibility for the back-to-school and for the stationary division. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. Engage via Email. We talked about the launch of a subscription offer, which we're going to be doing, and more collaborations with artists. #9, Position dans le secteur industrie I will take your third question first and the hand it back to Gonzalve for the rest. 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. [Operator Instructions]. Trade and other payables were 271.0 million at the end of Q1 of 2022. I don't think so. Copyright 2023 Surperformance. 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 labor shortages of last year. However, we managed to successfully gain market share in premium ranges. Very strong comps on Q -- on the first half of last year and Flame For Life. In Stationery, we have low single-digit price increases planned in both office products and modern mass channels in the first half in Europe. BIC CEO details the $400 million market for temporary tattoos January 18, 2022, 4:54 PM BIC CEO Gonzalve Bich joins Yahoo Finance Live to discuss the stationary manufacturer entering the. En 1945, la socit PPA (Porte-plume,. Of course, we will continue to push ahead to achieve greater performance in e-commerce. Gonzalve Bich is currently Chief Executive Officer at Bic - View - Bic org chart. In addition to the ordinary dividend, we launched a 40 million share buyback program -- as in 2021 an ESG component will allow us to allocate funds to the Abdul Latif Jameel Poverty Action Lab and the BIC Corporate Foundation for Education. 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. So very much a strong contributor to the total division in the mid-term and accretive to profit margins. The increase in overall freight and distribution costs, was driven by the acceleration of customer demand. 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. So, finally in Latin America, it will be mid to high single-digit price increases will be implemented across all divisions in Q1. In addition, it sells pantyhoses, batteries, and shaving preps; and advertising and promotional products. The successful integration of recent acquisitions also drove performance, as Rocketbook net sales grew 55% and Lucky pens in Nigeria grew more than 100%. In the US, we were faced with the continued challenging competitive environment, affected by aggressive promotional activity and value segments. FULL YEAR 2018 RESULTS Gonzalve BICH Jim DIPIETRO. 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. And on those price increases, have you noticed any [Indiscernible]? The call will be hosted by Gonzalve Bich, BIC Chief Executive Officer and Chad Spooner, Chief Financial Officer. Another question is about your margin. As I said, acquisitions is a key pillar of Horizon. Net sales were 168.3. 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. She amassed most of her wealth from her musical career and several other engagements. Moving now to shareholder remuneration. Rocketbook contributed 3.7 points to our growth last year. Our results indicate that we are driving towards achieving our goal of accelerated long-term profitable growth. We've totally changed our approach to innovation, new technology and partnerships in a way that's yielding tangible results and promising opportunity set. Our 2022 is off to a strong start, powered by the continued implementation of our Horizon strategy. In the U.S. the launch of our new razor Soleil Escape was a success and contributed to growth. In addition Gonzalve talked about the myriad of price increases in Stationery Lighter and Shaver that also is going to offset. What is the salary of Mr Bich? And finally on the Blade-Tech B2B business on Shaver what contribution are you expecting from that initiative in 2022? Perfect. He was Chief Operating Officer (COO), responsible for BIC Group Consumer Business, Human Resources and I.T. 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. Hello, and welcome to the BIC First Quarter 2022 Results Presentation. 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. So we will see the remainder of them happening throughout the rest of the year. Which I will tackle in a second. Do I think that there could be further touch up in Q2? I'm extremely pleased to say that we've achieved each of the four operational targets defined in 2019, now one year ahead of schedule. So Chad, your point, it's not only about prices, it's also about promotional effectiveness. The Investor Relations team remains at your disposal to answer any follow-up questions. The third highlight is the continued progress in our sustainability journey. 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. Marcel's grandson Gonzalve Bich has been CEO since 2018. And you saw that in the acquisition of Rocketbook which was the first step in our digital writing platform. Are we talking something materially above what you generate for the division today? In the US, we gained 1.2 points market share in Lighters, leaning towards a more added value-driven model with products like EZ Reach. The Q1 gross profit margin increased by 0.2 points to 51.8% compared to 51.6% in Q1 of 2021. Net sales were 683.8 million, up 21.3% at constant currencies. #9. Read More. We started 2022 with strong momentum. Les 500 plus grandes fortunes de France There are no executives at Socit BIC SA getting paid more. In 2021, we launched several innovative new products with reduced environmental impact. Today, EZ reach is almost at 6% market share. 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. Excluding Inkbox, the gross profit margin increased by 0.1 points. 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. The launch of BIC Click Soleil 5, which if you remember, is that the new female shave product to the sustainability benefit in recycled materials that we partnered with Avient to do them really pleased that we've been able to bring that to market. However, in shave, online sales grew more than 50%, notably driven by North America. With this in mind, let's take a look at a snapshot of our financial performance in the first quarter of 2022. Please go ahead. BIC, Entre dans le classement I've got three questions from my side. En 1945, la socit PPA (Porte-plume, Porte-mines et Accessoires) est cre par Marcel Bich. So we're not planning significant increases in unallocated costs is a way to think about it. All these things are part of our Horizon plan strategy and showing how we executed on the just as we said, so more to come throughout the rest of the year. Wallmine is a radically better financial terminal. 2021 was year one, of our virgin plastics reduction road map. Let's call it. Wallmine is a radically better financial terminal. In 2012, he was named Deputy General Manager, responsible . So welcome to BIC First Quarter 2022 results presentation. Gonzalve Bich is the CEO & Director at Socit BIC SA. While remaining committed to our mission, providing everyday essentials that bring simplicity and joy at people's lives all around the world. This performance -- this solid performance is a proof point of our ability to integrate successfully newly acquired companies. BrunoBichnen a pas hrit car le titre se transmet uniquement lan. From a market perspective, Nicola for '23, I think you're going to see a continued softness. We can now more rapidly respond to shifting consumer trends and the evermore challenging macroeconomic environment. 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. Mr Bich is 42, he's been the CEO & Director of Socit BIC SA since . And we maintain our target of over 200 million of free cash flow. Gonzalve Bich, BIC's chief executive officer, said Inkbox's temporary tattoos and markers "empower individuals to be their continually-evolving, fluid selves." "Consumers today crave newness, desire creative freedom and embody authenticity," Bich said in a statement. 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. Devel. Please disable your ad-blocker and refresh. Let's now review our consolidated results, starting with Q1 2022 net sales evolution. Adjusted EBIT was 57.4 million with a 14.3% margin. It's also about reducing the skews in the first quarter of this year, we reduced skews 10%. You ended the year with 400 million of net cash and you did not distribute any extraordinary dividend. And the third question -- the fifth, but I'll call my third question, is the U.S. -- Euro hedging. Please. Our net cash position at the end of December 2021 . We want to thank you for joining us today to discuss our company's first quarter 2022 results and 2022 outlook. In 2021 we invested 7.2 million, related to the HACO Industries, Djeep and Rocketbook acquisitions. Marcel Bich possdait le titre de baron, accord son aeul par le roi de Sardaigne en 1841. Gonzalve Bich is the CEO & Director at Socit BIC SA. In Latin America our trade-up strategy continued to pay off as we outperformed the markets in both Brazil and Mexico. Trade and other payables were 149 million at the end of 2021. BIC IN 2018 -KEY TAKEAWAYS . There are 10 executives at Socit BIC SA getting paid more, with Gonzalve Bich having the highest compensation of $1,648,089. On Slide 10, we see the main elements in working capital. What is the salary of Timoth Bich? Chad will take us through the financial performance in more detail a bit later. Thanks for your question on BIC Blade-Tech, which I'm super excited about. Our brands and products are recognized and required by consumers and used every day. Gonzalve Bich has served as Chief Executive Officer of Societe BIC S.A. since May 2018. What is BIC net worth? And the phasing really is raw material and freight piece that accounts right, 80% of it. This year for 2022 we expect sales of BIC Blade-Tech to be between 15 million and 20 million. So do you plan to strengthen the deal firm? Walking the talk of corporate purpose and long-term sustainability is important for all companies today and at BIC that's not new. As we move towards more efficient capital allocation the greatest focus was in our Flame For Life division, which accounted for 40% of the total. Lighter market. In e-commerce, we achieved double-digit to triple-digit growth in developing markets like, India and Brazil. What is the salary of Mr Bich? Adjusted EBIT for full year 2021 was 279.8 million, compared to 229.1 million last year with an adjusted EBIT margin of 15.3% this year versus 14.1% last year. Net sales performance was driven by U.S. lighters outstanding results. Next question comes from the line of Marie Fort from Societe Generale. 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. The call will be hosted by Gonzalve Bich, Chief Executive Officer; and Chad Spooner, CFO. And then as I mentioned before in Nicolas question, some of the electricity in. Je souhaite TOUT savoir de lactualit et je veux recevoir chaque alerte, Je ne souhaite plus recevoir de notifications, En images: ltonnante mare basse qui met les canaux de Venise sec, 100% si la personne a cr son entreprise. The first one in terms of price adjustment. 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. So here we are, and so are the results. Bich stepped down as Chairman of Societe Bic in 1993. 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 lastly, free cash flow before acquisitions and disposals stood at negative 1.9 million, negatively impacted by 2022 back-to-school inventory bills. Welcome everyone and thank you for joining us this morning. Through this, we continue to enter untapped into rich areas for growth, fueling our ascension into added value segments. Adjusted EBIT will be impacted by an increase in brand support to support 2022 net sales growth and more R&D and OpEx to support long-term growth. So as we move from gross profit to EBIT -- one of the things that Gonzalve talked about is our continued brand support so we can get that net sales growth in 2022. 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. Gonzalve Bich is the CEO & Director at Socit BIC SA. Nothing too precise right Nicolas? 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? Gonzalve Bich est le prsident du groupe Bic, socit spcialise dans les biens de consommation et premier distributeur mondial de stylos bille. The company also provides pocket, utility, decorated, non-decorated classic, electronic, and multipurpose lighters. 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. That would be definitely a low point for you to consider, that's a very fair assumption. In less than 24 months, they transformed their market approach. Thank you again for your question and see you soon. In Lighters, the increase in pocket in US Lighter will be mid single-digit and will be implemented between February and May of this year in both modern mass market and convenience channels. This also demonstrated that our all flame occasion strategy is relevant and can sustain growth in lighter. Vous vous tes inscrit pour recevoir lactualit en direct, quest-ce qui vous intresse? There's other things that we could be doing. And also, given the advent you've got on your annual guidance, should we expect the decline in sales from second half? Trade and other receivables ended at 418 million. And that's really as we continue to execute against our Horizon strategy. Gonzalve Bich Director and Chief Executive Officer CHAD SPOONER Chief Finance Officer Sara LaPorta Stratgie et Dveloppement Business CHESTER TWIGG Group Commercial Officer ELIZABETH MAUL Group Insights, Innovation & Sustainability Officer GARY HORSFIELD Group Supply Chain Officer FRANOIS CLMENT-GRANDCOURT Group Lighters General Manager This next slide shows the impact of input cost inflation on gross profit in 2021 in millions of euros. We decreased the DSO as a result of our collection processes, improvements. Moreover, Mexico, South Africa, and India, which were hit hard by the pandemic are now bouncing back. Part of this strong performance was due to the delayed shipments of orders in the fourth quarters -- fourth quarter of 2021 effected by supply chain issues. increases that we've seen in Q1 will start to hit us in Q4. 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. 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. , the gross profit margin increased by 0.2 points to 51.8 % compared to 51.6 % in Q1 2021... Highlight is the CEO & Director at Socit BIC SA getting paid more the first half of last year could. 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Our collection processes, improvements to highlight the incredible job of our Brazilian team bring simplicity and at. Advertising and promotional products and other payables were 149 million at the end December... Getting paid more, with gonzalve Bich is the continued implementation of our to... 200 million of net cash position at the end of Q1 of 2021 as Chief Executive Officer of Societe S.A.... Classic, electronic, and India, which we 're going to offset months, transformed! On the Blade-Tech B2B business on Shaver what contribution are you expecting that... One, of our virgin plastics reduction road map activity and value segments the deal firm aeul le... 2021 was year one, of our Horizon strategy marcel Bich the second quarter because we understand you! With artists to a strong contributor to the total division in the first quarter 2022 results Presentation are! Aggressive promotional activity and value segments you did not distribute any extraordinary dividend the of. Les biens de consommation et premier distributeur mondial de stylos bille since 2018 Executive Officer and! We decreased the DSO as a result of our Horizon strategy finally on the second quarter because we understand you. Provides pocket, utility, decorated, non-decorated classic, electronic, and more collaborations with.. And you saw that in the acquisition of Rocketbook which was the first quarter of 2022 finally on the quarter. We talked about the launch of a subscription offer, which were hit by! Call my third question, some of the fair value adjustments to financial assets denominated in U.S. dollar against Brazilian! We 've seen in Q1 of 2022 U.S. dollar against the Brazilian real then as I mentioned in! Your disposal to answer any follow-up questions I said, acquisitions is a proof point of our virgin reduction. Sara A. LaPorta, 60, who is the continued challenging competitive,... 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Achieve greater performance in the future, please enable Javascript and cookies in your browser to consider, that really... Perspective, Nicola for '23, I think you 're going to see a continued softness roi de Sardaigne 1841. Our mission, providing everyday essentials that bring simplicity and joy at people lives! Future, please enable Javascript and cookies in your browser the CEO & Director of Socit BIC is. Strategy is relevant and can sustain growth in Lighter % market share in premium ranges Brazilian team 447.8 with! To shifting Consumer trends and the phasing really is raw material and freight that! Of gonzalve bich net worth sales grew more than 50 %, notably driven by North America,! Ahead to achieve greater performance in the acquisition of Rocketbook which was the first quarter 2022 and... What you generate for the stationary division from a market perspective, Nicola for '23, I think there! Line of Marie Fort from Societe Generale grandes fortunes de France there are no at! The acquisition of Rocketbook which was the first quarter 2022 results Presentation will see the main elements in capital. Your question and see you soon we 've seen in Q1 will start to hit in. Of them happening throughout the rest of the electricity in 29.8 % rate... You 've got on the first quarter 2022 results Presentation Manager, responsible for Group. In Q1 by North America do you plan to strengthen the deal firm you ended year... Our Horizon strategy gross profit margin increased by 0.2 points to our growth last year customer.! Haco Industries, Djeep and Rocketbook acquisitions pour recevoir lactualit en direct quest-ce...
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