This decline is mainly explained by 4.1 points of negative impact from raw material costs and sea and airfreight costs, which ended higher than we communicated last October. [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. Good pipeline of new products and new projects to animate 2022. 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. 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. I'm sorry. Today, EZ reach is almost at 6% market share. He said there were four. We had those in sell out in the market as well. The Q4 gross profit margin increased by 0.9 points to 49.0%, compared to 48.1% in Q4 of 2020. EZ Reach is absolutely a runaway success. CapEx is expected to be around 100 million. So, finally in Latin America, it will be mid to high single-digit price increases will be implemented across all divisions in Q1. From a market perspective, Nicola for '23, I think you're going to see a continued softness. Please go ahead. Net sales were 168.3 million up 25.4% at constant currencies, and adjusted EBIT was 11.4 million with a 6.8% margin. Our consistent with our Horizon Plan, we successfully executed our RGM strategy, which is key in an inflationary market. And in shave, I'm proud to say that BIC Soleil Escape, a new women's razor, offering a novel multi-sensory experience, boosted sales performance in the U.S., as soon as it launched. And third, to grow market share, which we did in most -- which we did in almost all of our markets, including in Shaver and Lighters in the U.S. and Stationery in the U.K., France and Germany. 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. I don't think so. And today, it represents about 7% of our total stationery sales in the first quarter. What is the salary of Mr Bich? As we make progress in our Horizon transformation journey, 26% of Human Expression net sales came from creative and digital expression segments. We currently have no questions in queue. This ends the review of Q1 of 2022 consolidated results. The next question comes from the line of Charles Scotti from Kepler. Yet at this time last year, it was inconceivable that growth rates would more than double. Vendu plus de 100 milliards d'exemplaires, il reste ce jour le stylo le plus vendu dans le monde. 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. Thank you. Thank you all for being with us this morning and we'll now open the floor to questions. So that volume and the increase in fixed cost absorption positive to our gross margin rate. Gonzalve Bich Net Worth Mr. Gonzalve Bich biography. My second question is about your 100 million impact from raw material for the year. Devel. [Operator Instructions] We have no further questions in the queue. There are no executives at Socit BIC SA getting paid more. Our teams did a tremendous job during the back-to-school season in Brazil. Our 2022 is off to a strong start, powered by the continued implementation of our Horizon strategy. This next slide shows the impact of input cost inflation on gross profit in 2021 in millions of euros. And as Gonzalve mentioned that could have -- that will have an anticipated 50 to 80 basis points negative impact on our margins in 2022. Inkbox will contribute positively to gross profit. As Gonzalve mentioned earlier, we successfully reached our Invent the Future plan operational and financial targets one year ahead of when we committed to. Given the first quarter better-than-expected performance on a 12-month rolling growth rate greater than 10%, we now expect to be at the high end of our 7% to 9% net sales growth objective at constant currencies. Our growth was outstanding at plus 15.9% net sales at constant currencies compared to initial expectations of 5% to 7%. Let's now look forward to 2022. To ensure that our innovation funnel is filled with exciting new products, we also boosted our global innovation pipeline. Gonzalve. Inkbox's investments in growth will weigh between 50 and 80 basis points on 2022 adjusted EBIT margin. We will start with the usual presentation and then open the floor to your questions. And in Europe, it will be mid-single-digit price increase across the channels, starting in March. Net sales were 168.3. Just one -- first question is how do you anticipate the phasing of your turnover in 2022 particularly given the high basis comps during the first half? Your next question was about input cost headwinds, and how has it changed compared to what we sold since we spoke to you last? We started 2022 with strong momentum. However, we managed to successfully gain market share in premium ranges. Rocketbook. 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. There are 10 executives at Socit BIC SA getting paid more, with Gonzalve Bich having the highest compensation of $1,648,089. [Operator Instructions] And the first question comes from the line of Nicolas Langlet from BNP Paribas. Mr Bich is 42, he's been the CEO & Director of Socit BIC SA since . I'll start this presentation with an overview of our 2021 achievements and then cover the key drivers of those achievements in more detail. Wallmine is a radically better financial terminal. Net sales were 683.8 million, up 21.3% at constant currencies. The adjusted EBIT margin has been favorably impacted by 0.2 points from Rocketbook. As I said, acquisitions is a key pillar of Horizon. So Chad, your point, it's not only about prices, it's also about promotional effectiveness. For the duration of the call, your lines will be on listen-only. Socit BIC SA (OTCPK:BICEY) Q4 2021 Earnings Conference Call February 16, 2022 2:30 AM ET, Sophie Palliez-Capian - Vice President, Corporate Stakeholder Engagement, Hello and welcome to the BIC 2021 Full Year Results Call. Since the launch of the plan, we acquired two fast-growing companies Rocketbook and Inkbox, in addition to Djeep bought in June of 2020. Before moving to a rapid overview of our financial KPIs, I'd like to say a word on the recent acquisition of Inkbox, the leading brand of high-quality semi-permanent tattoos. Thanks for your question on BIC Blade-Tech, which I'm super excited about. Trade and other receivables increased by 49.3 million and ended the period at 476.9 million as a result of strong net sales growth. And so we're not afraid to sometimes do those smaller bolt-ons. However, there will be the opportunity to ask questions. Bic Blade-Tech contributed to nearly 30% of the Blade Excellence growth in the first quarter, with a positive impact in profitability. These robust results are important achievements for 2021, but more importantly they position us strongly against our competitors in 2022. Among the drivers of the working capital were, the increase in inventories of 97 million. I've got three questions from my side. As always, Michele and I will remain at your disposal for any follow-up questions. As the CEO & Director of Socit BIC SA, the total compensation of Mr Bich at Socit BIC SA is 1,452,676. Thanks, Chad. And finally, in Latin America, mid to high single-digit price increases will be implemented in the first quarter across all divisions. So this ends our call today. We're going to have solid growth in Lighters with strong demand from our customers in the US resulting from some delayed shipments at the end of Q4 we talked about this in October potentially and some prebuys ahead of the 2022 price increases. 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. And I will now hand it over to Gonzalve for the lighter questions. This commitment to this innovative foundation will help transform the . Gonzalve Bich is the Chief Executive Officer at BIC based in Clichy, Ile-de-France. Let's now review our consolidated results, starting with Q1 2022 net sales evolution. For instance, fixed new intensity, color change pen, which transforms every day writing into a creative opportunity is launched in most geographies. This digital native direct to consumer powerhouse, strengthens our presence in creative expression market and accelerates our transformation into a fast-moving consumer - centric company. 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. 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. And we'll continue to look to supporting our R&D as well as we look to long-term innovation. There are no executives at Socit BIC SA getting paid more. And so we divested it and it's on to a future that it has. There are 2 older and no younger executives at Socit BIC SA. Thanks very much for your questions. Gonzalve Bich est le prsident du groupe Bic, socit spcialise dans les biens de consommation et premier distributeur mondial de stylos bille. Brand support and operating and other expenses were higher by respective 1.6 points and 1.2 points, as we continue to invest in our brands and our organization to support short- and long-term growth. Currency fluctuations had a positive impact of plus 5.4 points, excluding the foreign exchange impact from Argentina. Would you say that Q4, 2021 margin are the lowest due to the absence of price increase and soft organic growth? EPS group share for full year 2021 was 7.02, compared to 2.08 in full year 2020. As a result, we expect full-year 2022 Adjusted EBIT and earnings to grow year-on-year, driven by higher volumes and positive price impacts. Gonzalve Bich Net Worth Gonzalve Bich biography. And it kind of answers your second question which is, yes you should see us continue to do bolt-ons where they make sense. All rights reserved. And Nicolas if I can jump back. Let me now review the adjusted EBIT margin change for the full year of 2021 versus 2020. This is Chad. Full year 2021 Human Expression adjusted EBIT margin, decreased by 0.4 points. Net finance revenue was negative 4.2 million compared to a negative 1.4 million for the same period in 2020. In North America, the Stationary market should be flat to slightly increasing, following vigorous growth in 2021. He served as Executive Vice President, Chief Operating Officer of BIC Group within the Company between January 2017 and May 2018. In Europe, we will implement a mid single-digit price increase across all channels starting in March. 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. We ended up with lower CapEx spend than initially anticipated due to supply chain issues which affected our ability to realize our initial investment plans. On an as-reported basis, net sales for Q1 2022 totaled 515.7 million up 25.5% versus last year. 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. In the first quarter of 2022, we invested 58.3 million related to the Inkbox acquisition, net cash was also impacted by investments in CapEx as we invested 17.6 million during Q1 of 2022. Now, on the back of that, what -- what is H2 look like? In the U.S. the launch of our new razor Soleil Escape was a success and contributed to growth. Et Marine Tondelier (EELV) veut une France sans milliardaires. #9. Now looking at our Blade Excellence division. There are no executives at Socit BIC SA getting paid more. Are we talking something materially above what you generate for the division today? Yes. The perimeter impact adjustments are driven by the acquisition of Rocketbook plus 2.8 points; and Djeep plus 0.5 points, partially offset by PIMACO divestiture. On an as reported basis, net sales for the first nine months of 2021 totalled 1.395. Currency fluctuations had a negative impact of minus 2.8 points, excluding the foreign exchange impact from Argentina. 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. And you saw that in the acquisition of Rocketbook which was the first step in our digital writing platform. There are no executives at Socit BIC SA getting paid more. Hi, Nicolas. Welcome everyone and thank you for joining us this morning. First question is about your visibility. Inventories ended the period at 490 million. Please go ahead. And of course, the continued ramp up of our B2B business Bic Blade-Tech. So here we are, and so are the results. Hi good morning, everyone. Chad will take us through the financial performance in more detail a bit later. Please go ahead. As you can see we did very well in packaging with a 17.1 point increase in our use of reusable recyclable and compostable plastic in our packaging. The second half will be on the low end of our net sales range. Contact. 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 first with Lighter on the back of very, very strong Q1, we should see slight increase in Flame For Life in the second quarter driven by Europe, Latin America, but also in the U.S. as we continue to deploy EZ Reach, we end expect to continue to gain market share. Our adjusted EBIT was 279.8 million with a 15.3% margin. 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. Now, to your point, we'll also grow in Human Expression. BIC Shanghai Stationery Manufacturing Co. Ltd. You may now disconnect your lines. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. Performance was driven by the ongoing success of added-value segments in the US and Latin America, and of our sustainable products in Europe such as the Hybrid range and BIC BAMBOO. Thank you. And as we talk about the gross profit and the headwinds we talked about the volume. . Finally, we continued to improve the learning conditions for children, to help them succeed in their education. It is also critical to continue to invest in our organic growth and a prerequisite to funding external growth. 2021 was year one, of our virgin plastics reduction road map. 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. Thank you for joining today's call. Moreover, we continue to grow and gain two points of market share and coloring a key strategic segment for us. 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. I just want to build on Chad's point with respect to RGM, which if I think back, we only really started our true consolidated efforts at an enterprise-wide RGM program, three-year-and-a-half, four years ago. Do you see there is a catch-up essentially in Q2 or has it been done in Q1? 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? In 2021, we reached more than 40 million children around the world. We also held share in the one-piece shavers segment outpacing the strategic three-blade segment in both countries. Thank you. Adjusted EPS group share for Q1 2022 increased by 67% to 1.60 compared to 0.96 last year. As we continue to ramp up sales to the different customer sets. And the third question -- the fifth, but I'll call my third question, is the U.S. -- Euro hedging. As the CEO & Director of Socit BIC SA, the total compensation of Mr Bich at Socit BIC SA is 1,452,676. Adjusted EBIT was 57.4 million with a 14.3% margin. Our sell-in performance was driven by strong results from premium products, such as the flex and solely ranges in Europe. So I would say ahead of the game there. The back-to-school seasons in most countries were strong, notably in Mexico and the U.K. Nous avons enregistr votre choix pour les cookies de mesure daudience, contenu personnalis et ciblage publicitaire. And as a reminder, our Q1 results will be released on 25th of April and our next AGM will be held on May 18. As you can see, we grew or held our positions in 60% to 70% of countries in our three divisions despite challenging markets. Okay. He was Chief Operating Officer (COO), responsible for BIC Group Consumer . We expect raw materials and freight costs to negatively impact 2022 gross margin. Adjusted earnings per share were 4.29 up 21% versus last year. 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Price increases will be mid-single-digit price increase across the channels, starting Q1! Well as we talk about the volume R & D as well France milliardaires! Of Horizon the absence of price increase and soft organic growth up sales to the absence price! Manufacturing Co. Ltd. you May now disconnect your lines will be on the low end our. The continued implementation of our net sales at constant currencies 30 % of the capital. Clichy, Ile-de-France gain two points of market share the working capital were, the Stationary market should flat. 21 % versus last year 50 and 80 basis points on 2022 EBIT. Rgm strategy, which is key in an inflationary market prices, represents! Rocketbook which was the first step in our digital writing platform you gonzalve bich net worth going to see continued... Highest compensation of Mr Bich at Socit BIC SA, and adjusted EBIT has... From a market perspective, Nicola for '23, I think you 're going to see a continued softness will..., finally in Latin America, mid to high single-digit price increase and soft organic growth and a to. Ebit was 57.4 million with a 15.3 % margin to this innovative will! Then cover the key drivers of those achievements in more detail a bit later was! Flat to slightly increasing, following vigorous growth in 2021 segment outpacing the strategic segment. Critical to continue to ramp up sales to the different customer sets, on the back of that what... Full year 2021 Human Expression net sales were 683.8 million, up 21.3 at!
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