BIC Investor Update and Horizon Strategic Plan Interim Review
Clichy, France, September 11, 2023
BIC Investor Update and Horizon
Strategic Plan Interim
Review
BIC’s Horizon strategic plan objectives
by year-end 2025 (a): • Annual Net Sales:
growth of 5 - 7% (b)•Adjusted EBIT margin: improvement approx.
150bps from 2022 level of 14.0% •Free Cash Flow: generation of an
additional €20 million annually from 2024 above its current>€200
million objective•Sustainable Development: 100% of BIC packaging
will be reusable, recyclable, or
compostable
BIC, a world leader in Stationery, Lighters and
Shavers, is today hosting an Investor Update event in Paris from
2:00 p.m. CET, to deliver an interim update on its five-year
Horizon Strategic Plan.
Management will provide an overview of BIC’s
pivot to growth, which has been underpinned by new internal
capabilities developed since the launch of Horizon in late 2020.
Horizon brings together a set of interconnected initiatives that
have resulted in BIC’s transformation into a business that is
delivering accelerated growth, improved efficiency and generating
robust cash flows. Based on the initial 5-year financial and
operational objectives to 2025, BIC had demonstrated its ability to
execute Horizon through its accomplishments to date.12
Accomplishments to
date:• Net Sales:
increased by approx. €600 million
(c)• Free Cash Flow:
generation of +€200 million expected for the 5th successive year in
2023• Sustainable
development: 70% of packaging is reusable, recyclable or
compostable
(d)• Funding
profitable growth: approx. €370 million Capex and approx. €170
million M&A
(e)• Sustainable
shareholder returns: €550 million (f)
Gonzalve Bich, Chief Executive Officer,
commented: “I am proud of the progress made by our teams
on meeting the Horizon Strategic plan objectives we set ourselves
in November 2020. When we launched Horizon, we set out a new vision
for BIC, one that harnesses the capabilities we have built to
become a more consumer-centric company, without eroding the strong
manufacturing and distribution-led competencies synonymous with
BIC. With that in mind, we have built new commercial and
operational capabilities and reduced complexity to increase
efficiency and stay true to our vision.x
As we look ahead to 2025, I see continued upside as these new
initiatives unlock greater potential across the Group. Our teams
have been driving sales growth with new go-to-market capacity
globally, increased focus and investment. Our Revenue growth
management and operations teams have been leading by a) growing
value ahead of volume, behind price and mix, b) simplifying the
portfolio and
maximizing the value of our SKUs, c) improving
our promotion effectiveness. Meanwhile, we are successfully
leveraging our global supply chain to minimize our cost of
production, ensure supply security and reduce lead time to shelf
for our customers. By tapping into our deep data insights, we are
maximizing our ability to innovate and create everyday essentials
that bring simplicity and joy to people all over the world with our
products. All of our actions are underpinned by our commitments
toward Sustainability and the Group’s resilience.”
To attend
the Investor Update
event, please
register via the following
link:
https://investors.bic.com/en-us/investor-update-2023
The Investor
Update will commence at
2:00 p.m. with
physical demonstrations of the latest BIC
innovations in Digital Writing and Expression, and Skin Creative,
at the #Cloud Business Center, 10 bis, rue du 4 Septembre, 75002
Paris, France.
The presentation will be published on BIC’s
Investor Relations website at 2:00 p.m. Paris (CET)
time.
The Webcast will start at
3:00 p.m.
Paris (CET) time:
https://channel.royalcast.com/landingpage/bic/20230911_1/
Investor Relations team
investors.info@bicworld.com |
Kimberly Stewart Head of Investor Relations+33 6 37 01 42 68
kimberly.stewart@bicworld.com |
Isabelle de Segonzac Image 7, Press Relations contact +33 6 89 87
61 39 isegonzac@image7.fr |
2023 AGENDA
All dates are subject change
3rd Quarter and 9 Months
2023 Results |
October 25, 2023 (post market close) |
GLOSSARY
- Constant currency
basis: constant currency figures are calculated by
translating the current year figures at prior year monthly average
exchange rates.
- 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
|
DISCLAIMER
A presentation related to this announcement is also available on
the BIC website (www.bic.com).
This press release includes certain statements that are
forward-looking about our plans, strategies and objectives through
to 2025, as well as statements with respect to net sales, adjusted
EBIT growth, sustainable development objectives, market shares,
cash conversion and shareholder returns. Such statements are based
on management’s current views and assumptions considered
reasonable, but which are naturally subject to risks and
contingencies generally beyond the control of BIC, and which may
change at any time. These risks and contingencies may lead such
statements to ultimately prove inaccurate and the actual results or
performances to materially differ from those expressed or implied
therein. The main risk factors are further developed in BIC’s
Universal Registration Document which is filed with the French
financial markets authority (AMF) on March 30, 2023 and is
available on the website (www.bic.com). Investors are cautioned
that although BIC believes that the information and assumptions
reflected in these forward-looking statements are reasonable, it is
very difficult to predict the impact of known factors and it is
impossible for the Company to anticipate all factors that could
affect such assumptions.Any information relating to past
performance contained herein is not a guarantee of future
performance. Nothing herein should be construed as an investment
recommendation.
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 2022, BIC Net Sales were €2,233.9 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, X
(previously Twitter), or YouTube.
(a) See Disclaimer
(b) At constant currency
(c) Year-end 2020 to year-end 2022
(d) As of December 31, 2022
(e) Cumulated 2020 - 2023 estimates;
(f) Shareholder Return = dividends + total share buybacks; full
year 2020 to first half 2023
- 230911 BIC Investor Update Press Release FINAL
Societe BIC (EU:BB)
Historical Stock Chart
From Apr 2024 to May 2024
Societe BIC (EU:BB)
Historical Stock Chart
From May 2023 to May 2024