BIC: Update on Full Year 2024 Net Sales Outlook
19 Junho 2024 - 2:00PM
BIC: Update on Full Year 2024 Net Sales Outlook
Clichy, France – June 19th, 2024
UPDATE ON FULL YEAR 2024 NET SALES
OUTLOOK
The challenging trading environment leads the
Group to update its net sales growth outlook for Full Year
2024.
At the beginning of 2024, BIC anticipated a low
to mid-single digit decline in value for the Lighter market in the
US. However, at the end of May, deteriorating consumption trends
resulted in a stronger than expected market decline year-to-date1.
BIC now forecasts the US Lighter market to decrease mid to
high-single digit in value in 2024. In this volatile environment,
BIC was able to gain market share both in volume and value, and
still sees gradual improvement from Q2.
For the Full Year 2024, Group net sales
are now expected to grow low-single digit at constant currency
excluding Argentina (versus initially between +5% and
+7%). The outlook on margin and Free Cash Flow remains
unchanged: we still expect to see a slight improvement in
adjusted EBIT margin and Free Cash Flow above €220 million in
2024.
Glossary
- Constant
currency basis: Constant currency figures are calculated
by translating the current year figures at prior year monthly
average exchange rates.
- Organic
change or Comparative basis: At constant currencies and
constant perimeter. Figures at constant perimeter exclude the
impact of acquisitions and/or disposals that occurred during the
current year and/or during the previous year, until their
anniversary date. All Net Sales category comments are made on a
comparative basis. Organic change excludes Argentina Net
Sales.
- Adjusted
EBIT: Adjusted means excluding normalized items.
- Adjusted
EBIT margin: adjusted EBIT as a percentage of Net
Sales.
- Free
Cash Flow: Net cash flow from operating activities less
capital expenditures (capex). Free cash flow does not include
acquisitions and proceeds from the sale of businesses.
About BIC
A world leader in stationery, lighters and
shavers, BIC brings simplicity and joy to everyday Life. For more
than 75 years, the Company has honored the tradition of providing
high-quality, affordable, essential products to consumers
everywhere. Through this unwavering dedication, BIC has become one
of the most recognized brands and is a trademark registered
worldwide. Today, BIC products are sold in more than 160 countries
around the world and feature iconic brands such as BIC Kids™, BIC
FlexTM, BodyMark by BICTM, Cello®, Djeep, Lucky Stationary,
Rocketbook, Soleil®, Tipp-Ex®, Us. TM, Wite-Out®, Inkbox, and more.
In 2023, BIC Net Sales were €2,263 million. The Company is listed
on Euronext Paris, is part of the SBF120 and CAC Mid 60 indexes and
is recognized for its commitment to sustainable development and
education. It has received an A- Leadership score from CDP. For
more, visit www.bic.com or follow us on LinkedIn, Instagram,
Twitter, or YouTube.
Contacts
Investor Relations
teaminvestors.info@bicworld.com Brice ParisVP Investor
Relations +33 1 45 19 55 28brice.paris@bicworld.com |
Isabelle de
Segonzac Image 7, Press Relations contact+33 6 89 87 61
39isegonzac@image7.fr |
2024 Agenda
All dates to be confirmed
2nd Quarter and First
Half 2024 Results |
July 31, 2024 (post market close) |
3rd Quarter and 9 Months
2024 Results |
October 23, 2024 (post market close) |
1 IRI data year-to-date May 2024, estimated total US lighter
measured market (c.70% total market coverage)
Societe BIC (EU:BB)
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