• BIC: Update on Full Year 2024 Net Sales Outlook

    Source: Nasdaq GlobeNewswire / 19 Jun 2024 12:00:00   America/Chicago

                           

    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 team
    investors.info@bicworld.com

     

    Brice Paris
    VP Investor Relations
    +33 1 45 19 55 28
    brice.paris@bicworld.com    		Isabelle de Segonzac
    Image 7, Press Relations contact
    +33 6 89 87 61 39
    isegonzac@image7.fr

    2024 Agenda

    All dates to be confirmed

    2nd Quarter and First Half 2024 ResultsJuly 31, 2024 (post market close)
    3rd Quarter and 9 Months 2024 ResultsOctober 23, 2024 (post market close)


    1 IRI data year-to-date May 2024, estimated total US lighter measured market (c.70% total market coverage)

     

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