Hi good morning, everyone. On Slide 10, we see the main elements in working capital. 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? So the phasing will happen across year like that. 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. labor shortages of last year. Inventories ended the period at 490 million. And if you go back a few years prior to that we also disposed of BIC Sport. While remaining committed to our mission, providing everyday essentials that bring simplicity and joy at people's lives all around the world. This also demonstrated that our all flame occasion strategy is relevant and can sustain growth in lighter. 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. If anything, I think that they're an interesting way to create dynamism in a portfolio. Je souhaite TOUT savoir de lactualit et je veux recevoir chaque alerte, Je ne souhaite plus recevoir de notifications, En images: ltonnante mare basse qui met les canaux de Venise sec, 100% si la personne a cr son entreprise. And I think with that level of detail and clarity, you can back into an approximation of how price impacts the topline. In the US, we outpaced the lighter pocket market by gaining 1.2 points market share in value, fueled by distribution gains, positive price and mix impact and RGM. And we gained 50 basis points value share and consolidated our solid number one position with more than 57% market share. In 2021, we committed to reaching 100% renewable electricity in 2025 and we are fully confident to reach this target. [Operator Instructions]. We started doing so in September of last year. Of course, we will continue to push ahead to achieve greater performance in e-commerce. As we make progress in our Horizon transformation journey, 26% of Human Expression net sales came from creative and digital expression segments. We achieved our objective 50 million cost savings, thanks to improved efficiency of our commercial operations and global supply chain in 2021. Very clear. For the Rocket -- Sorry, did you have a follow-up? And of course, our new B2B business BIC Blade tech will continue to ramp up and contribute sustainably to the division's growth and profitability in 2022. Thank you, Chad. So on a total consolidated basis we're looking to protect our gross margin rate. La famille fondatrice, incarne par Gonzalve (DG) et son pre Bruno (prsident), contrle 45% du fabricant de stylos bille, rasoirs jetables et briquets (CA: 1,9 milliard), confront la baisse de ses marchs. From 2008 to 2012, he headed the Northern European business. 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. Our hearts go out to everyone affected. And as a reminder, our Q1 results will be released on 25th of April and our next AGM will be held on May 18. We held PIMACO for a little bit over a decade, did really well did a lot of -- did what we needed it to do, while we held it in PIMACO -- when we held it in Brazil. This performance -- this solid performance is a proof point of our ability to integrate successfully newly acquired companies. Reaching the targets a year early in the midst of the pandemic and continued volatile trading conditions is a testament to the strength of our model and an outstanding achievement by the teams. On the back of a strong Q1 2021, our e-commerce Stationery Business was soft, primarily with large pure players. This launch is planned for the spring. Mr Bich is 42, he's been the CEO & Director of Socit BIC SA since . We also held or gained share in fast-growing European countries like Poland, Turkey and Russia in shavers where our Hybrid and Flex ranges outperformed the market. Thank you. FULL YEAR 2018 RESULTS Gonzalve BICH Jim DIPIETRO. Net sales were 683.8 million, up 21.3% at constant currencies. Do you plan to launch new product because the performance was pretty weak for the Q1 and to our point of view but we are probably less well-placed than you to comment, that is that the product portfolio seems quite limited for work at books. Performance was notably driven by robust commercial execution in Europe, Latin America, Middle East and Africa and by further market share gains in strategic segments including Coloring. The U.S. was the main growth driver contributing to 37% of the net sales growth on a like-for-like basis. 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. Gonzalve Bich is the CEO & Director at Socit BIC SA. You may now disconnect your lines. The performance of our Flame for Life division should come from growth across all regions including the U.S. But you should see us also take bigger bites as we add pearls to the string in digital expression SKIN CREATIVE or the broader creative expression space. Socit BIC SA manufactures and sells stationery, lighter, shaver, and other products in Europe, North and Latin America, the Middle East and Africa, the Oceania, and Asia. We currently have no questions in queue. Let's now review our consolidated results, starting with the fourth quarter 2021, net sales evolution. Officer. Next question comes from the line of Marie Fort from Societe Generale. Our adjusted EBIT was 279.8 million with a 15.3% margin. Lighter market evolving in value term? The RGM is absolutely critical. India FM Jaishankar says Soros dangerous, debate needed on democracy, Buffett's Berkshire profit falls on investments, currencies, Bill Gates buys Heineken stake, despite saying he's 'not a big beer drinker', Elon Musk recruits team to develop OpenAI rival - The Information, Musk donated around $1.95 billion in Tesla shares last year, Hedge fund manager Chris Hohn demands Airbus drop Atos deal - letter, Elon Musk's challenge: Stay ahead of the competition, ISS urges Apple shareholders to vote for CEO Tim Cook, other execs' pay packages, Elon Musk accuses media of racism after newspapers drop 'Dilbert' cartoon, French media billionaire Niel fails with bid for TNT television frequence - Arcom, Chief Executive Officer & Executive Director. This increase was driven by net sales leverage and favorable fixed cost absorption, partially offset by the increase in raw material and freight costs, as well as Inkbox 's investment in growth. In 2021, we shifted gears in e-commerce and grew BIC e-commerce net sales by 21%. That's our expectation, but it's going to be at a lower rate to get us to that top end of the 7% to 9% growth rate for the full year, than H1 of course. Inkbox's investments in growth will weigh between 50 and 80 basis points on 2022 adjusted EBIT margin. In line with our Horizon Plan Capital Allocation Policy, the Board will propose a 2.15 per share ordinary dividend at the next Annual General Meeting for a payout ratio of 50% and an increase of 19.4% compared to 2021. Our balance sheet is purposefully strong because we believe that a sound financial situation is key in the current volatile environment. And finally, in Latin America, mid to high single-digit price increases will be implemented in the first quarter across all divisions. This improvement is mainly driven by the strong increase in North America lighter sales, price increases and a favorable fixed cost absorption. Full year 2021 Blade Excellence adjusted EBIT margin improved 1.9 points, thanks to manufacturing and raw material efficiencies and more efficient brand support, notably in the US where we successfully chose to improve the balance between promotional support visibility and profitability. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. This innovative program accelerates our path towards genuine long-term value creation for all of our stakeholders, which I'm extremely proud of. Would you say that Q4, 2021 margin are the lowest due to the absence of price increase and soft organic growth? You ended the year with 400 million of net cash and you did not distribute any extraordinary dividend. 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. In Lighters we expect the market to decrease low-to-mid-single digits following a very strong performance in 2021. Trade and other payables were 149 million at the end of 2021. 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. Vous vous tes inscrit pour recevoir lactualit en direct, quest-ce qui vous intresse? Is this happening to you frequently? So you should expect more of that from us in 2022. Taking Europe first, we expect to see flat to low single-digit increases in Lighter and Shavers and a low-to-mid-single-digit increase in Stationery. Finally, in line with our horizon goals, added value lighters represented 38.6% of total Flame For Life net sales in Q1. And the last question is about Coloring. Welcome to BIC full year 2021 results conference call. Although the recent acceleration of input cost inflation is expected to have a negative impact on operating margins, I'm confident in our ability to take the necessary actions to mitigate this impact. It's a far reaching impacts across all facets of our business. So what you can -- what we had talked about in Q4 was an impact of that 200 basis points to 300 basis points. 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. And one of the things I'm most excited about is it's about creating a new space because we're good at fighting the fight in very mature markets it's a totally different business when you start creating from scratch. Our next major milestone within reach is attaining a 15th share of this important pillar of horizon. That would be definitely a low point for you to consider, that's a very fair assumption. We're not seen any material volume elasticity to date. Let me now review the adjusted EBIT margin change versus prior year for the first quarter of 2022. Raw material and import freight costs will remain at very high levels. However, these results are not an accident. Thanks, Chad. Contact. We will start with the usual presentation and then open the floor to your questions. Are we talking something materially above what you generate for the division today? Trade and other payables were 271.0 million at the end of Q1 of 2022. Que se passe-t-il vraiment? En mai 2018, il cde sa place son fils Gonzalve, devenu directeur gnral. Last year we -- as I said in October and we confirmed in the fourth quarter we're shipping our first customers. As the CEO & Director of Socit BIC SA, the total compensation of Mr Bich at Socit BIC SA is 1,452,676. Email. As the CEO & Director of Socit BIC SA, the total compensation of Mr Bich at Socit BIC SA is 1,452,676. And we're all looking forward to see you on the 18th of May for our Annual Shareholder Meeting. I have every confidence in our strategic choices and our ability to achieve our objectives, including sustainable returns to shareholders. 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. Let me now review the adjusted EBIT margin change versus prior year for the fourth quarter of 2021. This was mainly due to the increase of the US dollar against the euro. Yes, I can't even read my own handwriting. To ensure that our innovation funnel is filled with exciting new products, we also boosted our global innovation pipeline. [2] He was succeeded by his son, Bruno, who served as chairman for 25 years, 15 of which also as CEO. This ends the review of Q1 of 2022 consolidated results. Please go ahead. Trade and other receivables ended at 418 million. Sign up in seconds, it's free! [Operator Instructions]. In short, our incremental focus on consumers is yielding results. And today, it represents about 7% of our total stationery sales in the first quarter. Moreover, Mexico, South Africa, and India, which were hit hard by the pandemic are now bouncing back. Thank you and good morning everyone. 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. Can you be a bit more specific? Lighter industry. We had stimulus payments in December of 2020 and then in January of '21, and in March of 21, all which had impact in discretionary spending especially in certain channels. Thank you again for your question and see you soon. I'm so glad that we did because today we have an ability to really look at global pricing corridors and understanding the different inputs and outputs much more finally, than we didn't. 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. And so taking into account the B2B business what sort of margin could we expect for the Shaver business in the mid to long term? This is a great step forward for us. Our ability also to improve on promotional efficiency. [12] Yacht racing and sailing [ edit] Bich was a keen sailor. We've reached close to 100% ACV and modern mass market channel and still have considerable opportunities in convenience stores. In less than two years, EZ Reach has achieved 4.3% market share of the total pocket lighter market in value. I don't think so. Adjusted earnings per share were 4.29 up 21% versus last year. 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. It offers ball and coloring felt pens, markers, stickers, sticky notes, leads, whiteboards, and correction tapes, as well as graphic, coloring, mechanical, and other pencils; reusable notebooks, smart pens, slate tablets, stylus for tablets, crayons, art and craft kits, erasers, temporary tattoo markers, refillable shavers, razors shave cream, body and face lotions, finger painting products, and watercolors; correction fluids, pens, and tapes; and gel ink, roller, and fineliner pens; and ball and gel pen, color, and mechanical refills. There are 10 executives at Socit BIC SA getting paid more, with Gonzalve Bich having the highest compensation of $1,648,089. BIC Shanghai Stationery Manufacturing Co. Ltd. Now, as I begin, I want to formally recognize the outstanding work of our teams in 2021 across the world and despite the ongoing turbulent trading environment, they worked relentlessly to execute our Horizon Plan and achieve our 2021 objectives. It offers ball and coloring felt pens, markers, stickers, sticky notes, leads, whiteboards, and correction tapes, as well as graphic, coloring, mechanical, and other pencils; reusable notebooks, smart pens, slate tablets, stylus for tablets, crayons, art and craft kits, erasers, temporary tattoo markers, refillable shavers, razors shave cream, body and face lotions, finger painting products, and watercolors; correction fluids, pens, and tapes; and gel ink, roller, and fineliner pens; and ball and gel pen, color, and mechanical refills. So we're not planning significant increases in unallocated costs is a way to think about it. What is BIC net worth? We expect all of our divisions to deliver organic growth this year in 2022, as we continue our momentum from last year. Part of this strong performance was due to the delayed shipments of orders in the fourth quarters -- fourth quarter of 2021 effected by supply chain issues. Thank you for joining today's call. Net sales were 168.3. Gonzalve Bich is the CEO & Director at Socit BIC SA. The first one the raw material and freight costs. When we announced the acquisition two months ago, not even two months ago. We have a good back-to-school in front of us in all of the geographies, Europe, North America, Mexico, those are the big ones for third quarter, which will finish shipping in Q2. Now let me give the floor back to Gonzalve. And what I want to say is, this is all a proof point we've talked a lot about our RGM efforts, our revenue growth management. Gonzalve Marie Leon Bich. If you have an ad-blocker enabled you may be blocked from proceeding. So I've got three questions. The oldest executive at Socit BIC SA is Sara A. LaPorta, 60, who is the Chief Strategy & Bus. However, we remain on track to achieve both our 2025 and 2030 goals. 03/02/1979, Secteur Gonzalve received a Bachelor of Arts degree from Harvard Unive rsity. Many thanks. However, equally important to growth and more sustainable with distribution gains, effective pricing actions, and favorable product mix, including added-value products like the EZ Reach utility lighter, which now reached almost 6% of market share in value just two years after its launch. Through this, we continue to enter untapped into rich areas for growth, fueling our ascension into added value segments. The second point is our resilience to external headwinds. 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. Moving from a pure customer-driven to a 360 consumer - centric strategy, which will continue to bear fruit and support short-term and long-term growth in this important market for us. Do I think that there could be further touch up in Q2? In addition Gonzalve talked about the myriad of price increases in Stationery Lighter and Shaver that also is going to offset. 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. The first one in terms of price adjustment. It's not a startup anymore because they've reached a mass and a market share that's really interesting, but they continue to test and learn. Mr Bich is 42, he's been the CEO & Director of Socit BIC SA since . [Operator Instructions] And the first question comes from the line of Nicolas Langlet from BNP Paribas. Last Update. 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To shareholders to your questions this ends the review of Q1 of 2022 consolidated results, with.
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