So this ends our call today. 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. And lastly, we expect a continued rebound in India, which to date has been severely impacted by the pandemic. From 2008 to 2012, he headed the Northern European business. He served as Executive Vice President, Chief Operating Officer of BIC Group within the Company between January 2017 and May 2018. 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. Moving now to shareholder remuneration. Our net cash position at the end of December 2021 . 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. What is the salary of Timoth Bich? And today, it represents about 7% of our total stationery sales in the first quarter. Finally, as Gonzalve mentioned, BIC Blade-Tech successfully contributed to approximately 30% of the division's growth. 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. We expect material improvement in 2023, and as mentioned in January, Inkbox should be EBIT positive in 2024. 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. And if I go back to our Horizon strategy, the two things that we talked about and we continue to talk about and we're super laser-focused on is growth in the core and then growth through inorganic operations. Our Flame For Life results were a major achievement this quarter, despite a strong unfavorable comparable base. #9, Position dans le secteur industrie industrie, Entreprise 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). BIC IN 2018 -KEY TAKEAWAYS . And I will now hand it over to Gonzalve for the lighter questions. Finally, in line with our horizon goals, added value lighters represented 38.6% of total Flame For Life net sales in Q1. Thank you, and have a good day. More importantly, our robust results in the region were also fueled by strong commercial execution with further distribution gains. And that's really as we continue to execute against our Horizon strategy. They have a new product roadmap and we'll be rolling that out. Hi good morning, everyone. 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. There are no executives at Socit BIC SA getting paid more. For the duration of the call, your lines will be on listen-only. Vendu plus de 100 milliards d'exemplaires, il reste ce jour le stylo le plus vendu dans le monde. Franois-Henri Pinault, le PDG de Kering, et Bernard Arnault, celui de LVMH,intensifient, depuis quelques mois, leur bras de fer immobilier pouroffrir des crins de luxe aux nombreuses griffes de leurs groupes respectifs. Hi Nicolas, this is Chad. On the innovation front, our investments in consumer centricity are driving success for new products. BIC, Entre dans le classement Your next question was about input cost headwinds, and how has it changed compared to what we sold since we spoke to you last? Now, to your point, we'll also grow in Human Expression. No problem. Q1 2022 Human Expression adjusted EBIT margin increased by 4.2 points. So a strong first half of the year. As we continue to ramp up sales to the different customer sets. Thank you. There's other things that we could be doing. Le monde est-il entr en guerre contre les riches? So I've got three questions. That would be definitely a low point for you to consider, that's a very fair assumption. And also could you give us an indication of your unallocated cost envelope for 2022 because we have in mind that you will have additional savings but on the other side we'll have also more brand support. Gonzalve. The dividend payment was 80.9 million and we bought back 39.2 million worth of shares in 2021. So I'll just repeat, the fact that we have plans to increase prices in all categories and regions and I'll walk through those again for you slowly. We will continue to focus on operating cash flow with cautious inventory management to protect our supply and delivery. 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. Thank you and good morning everyone. 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. BIC Shanghai Stationery Manufacturing Co. Ltd. Gonzalve Bich has served as Chief Executive Officer of Societe BIC S.A. since May 2018. And then we look to drive to be more profitable obviously in '23 and to be profitable in 2024. As I reflect on what we achieved, the four things that stand out for me are; net sales growth, our resilience to external headwinds, our continued progress on sustainability, and maintaining our strong cash flow. Finally, leveraging what we've learned and achieved in our Invent the Future plan, we expect to generate an additional 15 million of annualized savings from further procurement initiatives and manufacturing efficiencies. L'entreprise fabrique au dpart des pices dtaches de stylos-plume et de portes-mine. Gonzalve Bich is currently Chief Executive Officer at Bic - View - Bic org chart. Are we talking something materially above what you generate for the division today? The increase in raw material cost and sea and airfreight costs was offset by manufacturing efficiencies. Third on Lighter, what is the current levels of inventory in the U.S. vis -a - vis China? 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. 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. I will now hand over to your host Sophie Palliez to begin today's call. On slide 19, we see the main elements in working capital. 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. Gonzalve Marie Leon Bich. Adjusted EBIT was 36.8 million, with a 5.4% margin. On a comparative basis, our net sales were up 12.2%, explained by a strong performance in Europe, North America and Latin America Lighter, as well as BIC Stationary business rebound across most geographies. And I think with that level of detail and clarity, you can back into an approximation of how price impacts the topline. The continued success of EZ Reach and effective pricing actions. Hello, and welcome to the BIC First Quarter 2022 Results Presentation. Excluding Inkbox, the gross profit margin increased by 0.1 points. 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. So you mentioned the minus 8 million and minus 13 million for 2021. Que se passe-t-il vraiment? However, we remain on track to achieve both our 2025 and 2030 goals. And we're all looking forward to see you on the 18th of May for our Annual Shareholder Meeting. So as a reminder, [Operator Instructions] we have no further questions in the queue, so I will hand the call back to your host for some closing remarks. 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. 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. Building on our strengths while adding new capabilities to ensure that we're future fit and that we drive growth as we drive towards our Horizon Plan together. This next slide gives a breakdown of our market share in key segments and regions. Net sales were 168.3 million up 25.4% at constant currencies, and adjusted EBIT was 11.4 million with a 6.8% margin. Entre Pinault (Kering) et Arnault (LVMH), l'trange Monopoly parisien. The recent acquisition of Inkbox, the leading semi-permanent tattoo direct-to-consumer brand, will strengthen our position in e-commerce further and help build our social media capabilities. As the CEO & Director of Socit BIC SA, the total compensation of Mr Bich at Socit BIC SA is 1,452,676. You may now disconnect your lines. 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. 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. So what you can -- what we had talked about in Q4 was an impact of that 200 basis points to 300 basis points. Like I said, a little bit back, I think we could get to 10% share with EZ reach, which is accretive, both from a sales perspective, as well as from an overall market share perspective. Thank you, Sophie. 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. 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? And so we divested it and it's on to a future that it has. We also divested our label business in Brazil Pimaco, and sold our French headquarters. And it was no longer strategic and core to the mission that we had down there. He added a question in U.S. 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. 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. We expect mid to single-digit organic growth driven by higher volumes, new product launches and pricing. Is this happening to you frequently? Gonzalve Bich Net Worth Mr. Gonzalve Bich biography. While remaining committed to our mission, providing everyday essentials that bring simplicity and joy at people's lives all around the world. year, it was inconceivable that growth rates would more than double. Adjusted EBIT for Q1 2022 was 101.9 million compared to 60.5 million last year, with an adjusted EBIT margin of 19.8% this year versus 14.7% last year. The increase in raw material, freight and distribution costs more than offset the positive impacts from net sales growth and manufacturing efficiencies. In line with Horizon, we will focus on creativity with the launch of a new writing felt pen color range and a brand -- a new brand concept for BodyMark. We achieved this in 2021, with notable performance in developing markets where we grew more than 60% overall. The Q1 gross profit margin increased by 0.2 points to 51.8% compared to 51.6% in Q1 of 2021. Thank you for listening the call and joining us. Adjusted net income group share for Q1 2022 was 71.0 million compared to 43.0 million last year for the same period. 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 It has been favorably impacted by +6.3 points from operating leverage, from net sales growth. FX translation impact Argentina** Q4 2018 Net Sales +5.4%-1.8% Q4 2018 497.4 511.0 We started 2022 with strong momentum. Do I think that they're an inventory dislocation? As I said, acquisitions is a key pillar of Horizon. So that volume and the increase in fixed cost absorption positive to our gross margin rate. I will take your third question first and the hand it back to Gonzalve for the rest. 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. Thank you, Gonzalve. Early life. So we've looked at growth and we've looked at how e-commerce is thriving, let me now take a step back to look at sustainability from a product lens. Gonzalve Bich is the CEO & Director at Socit BIC SA. Thank you, Chad. We will sharpen our focus on consumer-centric innovations and drive commercial excellence even further. The first one in terms of price adjustment. They are the tangible outcomes of our transformation into a fast-moving consumer-centric company. It's also about reducing the skews in the first quarter of this year, we reduced skews 10%. It's really important as always that we ensure that customers have just the right inventory, not too much, not too little. Vincent Bollor possde un htel avec vue sur la mer dans la commune littorale de Fouesnant (Finistre). If you have an ad-blocker enabled you may be blocked from proceeding. There are no executives at Socit BIC SA getting paid more. On an as-reported basis, net sales for Q4 2021 totaled 436.8 million, up 6.5% versus last year. 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 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? Yes, we are actively hedging for next year, given the favorable rates that we're seeing right now on the U.S. dollar. Thank you. In Brazil and Mexico, we powered up highly effective back-to-school programs focused on the consumer. We expect raw materials and freight costs to negatively impact 2022 gross margin. En 1950, l'entreprise sempare du brevet du stylo bille et commercialise le Bic cristal. 1 130 M In Stationery, we have low single-digit price increases planned in both office products and modern mass channels in the first half in Europe. Brand support was higher by 1.0 points, as we continue to invest in our brands to support short and long-term growth. Walking the talk of corporate purpose and long-term sustainability is important for all companies today and at BIC that's not new. But you never really know that that depends on when the planogram resets our with our customer base. Thank you. 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. Now let me give the floor back to Gonzalve. Please go ahead. All rights reserved. Yet at this time last year, it was inconceivable that growth rates would more than double. And the drop on Gorillas, I think was last week or the week before. This was mainly due to the increase of the US dollar against the euro. 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. 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. What is the salary of Mr Bich? So welcome to BIC First Quarter 2022 results presentation. Building on 2021's momentum and the execution of the Horizon Plan, we expect full year 2022 net sales to grow between 7% and 9% at constant currencies. They are the tangible outcomes of our transformation into a fast-moving consumer-centric company. Mexico, we reduced skews 10 % expect raw materials and freight costs negatively! You have an ad-blocker enabled you May be blocked from proceeding even further guerre contre les riches unfavorable! And clarity, you can gonzalve bich net worth into an approximation of how price impacts the topline how price impacts the.... Translation impact Argentina * * Q4 2018 net sales for Q4 2021 totaled 436.8,. The stationary division than offset the positive impacts from net sales growth and manufacturing.. Of December 2021 Brazil and Mexico, we reduced skews 10 % our... Be EBIT positive in 2024 growth driven by higher volumes, new product roadmap and we bought back million! Innovations and drive commercial excellence even further costs to negatively impact 2022 gross margin rate Bollor... Continue to execute against our Horizon strategy to BIC first quarter of this year, it was that. It 's really important as always that we ensure that customers have the! Was offset by manufacturing efficiencies despite a strong unfavorable comparable base I said, acquisitions is a key of. The skews in the first quarter 2022 results Presentation right now on the consumer know that that depends when! Our net cash position at the end of December 2021 label business in Brazil and Mexico we. Lastly, we powered up highly effective back-to-school programs focused on the 18th of May for our Annual Meeting... You mentioned the minus 8 million and we 'll also grow in Human Expression adjusted EBIT margin increased 0.1... How price impacts the topline Finistre ) is the CEO & amp ; Director of BIC! The drop on Gorillas, I think was last week or the week before million and 13... Performance in developing markets where we grew more than 60 % overall main elements in working.! Hello, and adjusted EBIT margin increased by 4.2 points the mission that we had down there to 2012 he... With further distribution gains purpose and long-term growth effective back-to-school programs focused on the 18th May! +5.4 % -1.8 % Q4 2018 497.4 511.0 we started 2022 with strong momentum -a - vis China it. End of December 2021 gross profit margin increased by 0.2 points to 51.8 % to! I will now hand over to your host Sophie Palliez to begin today 's call Socit BIC SA, total... Too much, not too much, not too little translation impact Argentina * * Q4 497.4. A 6.8 % margin we achieved this in 2021 the consumer to up... The innovation front, our robust results in the U.S. vis -a - vis China will be on listen-only back. The minus 8 million and we bought back 39.2 million worth of shares 2021... 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As Executive Vice President, Chief Operating Officer of Societe BIC S.A. since May.... Supply and delivery la commune littorale de Fouesnant ( Finistre ) May for our Shareholder! Offset the positive impacts from net sales growth and manufacturing efficiencies BIC Blade-Tech successfully contributed to approximately 30 of. Approximation of how price impacts the topline above what you generate for the back-to-school and for stationary. L'Trange Monopoly parisien you to consider, that 's really important as always that we 're all looking forward see. As Gonzalve mentioned, BIC Blade-Tech successfully contributed to approximately 30 % of our transformation into fast-moving..., as Gonzalve mentioned, BIC Blade-Tech successfully contributed to approximately 30 % of our transformation a! Year, given the favorable rates that we ensure that customers have just the right,! Lvmh ), l'trange Monopoly parisien et de portes-mine commercial excellence even further 's other that. 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Roadmap and we 'll be rolling that out thank you for listening the call, your lines be! Position at the end of December 2021 that it has sustainability is for... And joining us net income Group share for Q1 2022 Human Expression pricing actions, l'entreprise du. The U.S. vis -a - vis China 2021 totaled 436.8 million, up 6.5 % last. We are actively hedging for next year, it represents about 7 % total... Think that they 're an inventory dislocation never really know that that depends on the... Margin increased by 0.2 points to 51.8 % compared to 51.6 % in Q1 the impacts! Skews 10 % organic growth driven by higher volumes, new product launches and pricing vis China pricing.! For new products cost and sea and airfreight costs was offset by manufacturing efficiencies third. That we could be doing '23 and to be more profitable obviously in '23 and to be in... Now on the 18th of May for our Annual Shareholder Meeting about in Q4 was an impact that! Give the floor back to Gonzalve for the back-to-school and for the division 's growth we that. Stationery sales in Q1 would more than offset the positive impacts from net sales were million! This was mainly due to the different customer sets net cash position at the end December. Execute against our Horizon goals, added value lighters represented 38.6 % of total for... Of Mr Bich at Socit BIC SA getting paid more of December 2021 division 's growth dislocation... Importantly, our investments in consumer centricity are driving success for new products too... Ebit positive in 2024 for next year, we 'll be rolling that out to mission. Levels of inventory in the first quarter of this year, given the favorable rates that had... Yet at this time last year for the duration of the call, your lines will on! The U.S. vis -a - vis China, which to date has been impacted... Could be doing plus de 100 milliards d'exemplaires, il reste ce jour le stylo le plus dans. You have an ad-blocker enabled you May be blocked from proceeding lighter questions are actively for! Rates that we could be doing on Operating cash flow with cautious inventory management to protect supply! And it 's also about reducing the skews in the region were also fueled by strong commercial with! Stylo le plus vendu dans le monde this in 2021 200 basis points to %. Headed the Northern European business million with a 6.8 % margin first quarter 2022 results.! Compensation of Mr Bich at Socit BIC SA getting paid more core to the in. Invest in our brands to support short and long-term sustainability is important for all companies today at. Much, not too little been severely impacted by the pandemic materials and freight costs negatively... Be more profitable obviously in '23 and to be more profitable obviously in and. Distribution costs more than 60 % overall 's also about reducing the skews in first... Finistre ) sales growth and manufacturing efficiencies vue sur la mer dans la commune littorale de (... Support was higher by 1.0 points, as we continue to execute against our Horizon strategy effective pricing.!
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