The perimeter impact adjustments include mainly the acquisition of Inkbox, partially offset by the Pimaco divestiture. Things like Lucky Stationery in Nigeria, the business that we did in Kenya a few years ago or even Djeep which was really a bolt-on because Djeep compared to the total BIC business is rather small. year, it was inconceivable that growth rates would more than double. However, there will be the opportunity to ask questions. Si vous souhaitez modifier vos centres d'intrt, vous pouvez tout moment cliquer sur le lien Notifications, prsent en pied de toutes les pages du site. BIC CEO details the $400 million market for temporary tattoos January 18, 2022, 4:54 PM BIC CEO Gonzalve Bich joins Yahoo Finance Live to discuss the stationary manufacturer entering the. You should expect us to continue to actively manage our portfolio, to increase our exposure to fast-growing businesses in fast-growing countries. In Latin America, we expect an overall increase in both Stationery and Shaver with a rebound anticipated in Brazil and Mexico notably in Stationery. As we benefited from orders that cannot be completed in the fourth quarter of 2021 due to supply chain issues which are carried out over the first quarter of 2022. Thanks. As the CEO & Director of Socit BIC SA, the total compensation of Mr Bich at Socit BIC SA is $1,648,089. I'm sorry. Yes, good morning. Gonzalve Bich has served as Chief Executive Officer of Societe BIC S.A. since May 2018. On Slide 10, we see the main elements in working capital. This was partially offset by the negative impact of raw material costs and sea and airfreight costs. This ends the review of Q1 of 2022 consolidated results. And probably could you help us also to monetize our margins in terms of phasing for all over the year? With our eyes set firmly on the horizon, I'm convinced that we will achieve our growth ambition of sustainable and profitable mid-single-digit growth. So those are how we respond there. Excluding Inkbox, the gross profit margin increased by 0.1 points. Dragging a lot of changes, which we'll see in the back end of the year on our -- from our cost perspective. Second question on input cost, so you now expect 100 million headwind for the full year. Moreover, we continue to grow and gain two points of market share and coloring a key strategic segment for us. But the main, the largest quarter will be Q2, Q3. Of course, we will see a greater impact as well and will have some impact obviously in Q4, but Q2, Q3 will be the larger of the quarter's overall. In Europe, we will implement a mid single-digit price increase across all channels starting in March. So welcome to BIC First Quarter 2022 results presentation. And really this is where we are seeing this benefit from, right? All were well received by customers and consumers and demonstrate that sustainable products offer true competitive advantage. This ends our presentation for today, and we're now ready to answer your questions. The first one in terms of price adjustment. As I said, net sales for the full-year were 1.8 billion up 15.9% at constant currencies. And good afternoon, everyone. Our net cash position at the end of December 2021 was 400.1 million. Yes. And it means that you're generating higher dollars per skew, you're being more productive. You may now disconnect your lines. There are no executives at Socit BIC SA getting paid more. They have a new product roadmap and we'll be rolling that out. But we will be growing in all of the divisions. So you know I'm not going to give you that number but what I can give you is that, it is materially accretive to the overall Blade Excellence division and something that you can continue to ask me about as we go quarter-to-quarter and strength to strength. We expect material improvement in 2023, and as mentioned in January, Inkbox should be EBIT positive in 2024. Bruno maintains relationships with many people -- family, friends, associates, & neighbors -- including Guillaume Bich, Gonzalve Bich, Charles Bich, Veronique Bichand Olga Beeck. In 2021, we committed to reaching 100% renewable electricity in 2025 and we are fully confident to reach this target. Gonzalve Bich Net Worth Mr. Gonzalve Bich biography. Entre Pinault (Kering) et Arnault (LVMH), l'trange Monopoly parisien. Currently, we passed on approximately 20% in the first quarter. Adjusted EBIT was 36.8 million, with a 5.4% margin. As we make progress in our Horizon transformation journey, 26% of Human Expression net sales came from creative and digital expression segments. 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. Thank you very much, everyone. 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. Hello, and welcome to the BIC First Quarter 2022 Results Presentation. On slide 19, we see the main elements in working capital. In Shaver, we will focus on revenue growth management to leverage price pack architecture and promotional effectiveness to ensure we deliver a portfolio to meet consumer needs in Europe and the US. 03/02/1979, Secteur We will sharpen our focus on consumer-centric innovations and drive commercial excellence even further. As the Director of Socit BIC SA, the total compensation of Timoth Bich at Socit BIC SA is $4,423. And a little under 24 months, we've assembled an outstanding management team. Mr Bich is 42, he's been the CEO & Director of Socit BIC SA since . 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. 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. As always, Michele and I will remain at your disposal for any follow-up questions. FX translation impact Argentina** Q4 2018 Net Sales +5.4%-1.8% Q4 2018 497.4 511.0 The second question on the margin overall. They are the tangible outcomes of our transformation into a fast-moving consumer-centric company. And I'm really pleased with what the team's been doing. Finally, our B2B blade business, BIC Blade-Tech has started to execute as planned and started to ship to its first customers since September of 2021. Please. Please ensure your line is unmuted locally, as you will be advised when to ask your question. [Operator Instructions]. Okay. They will start by an overall presentation of our 2021 performance and 2022 outlook. In the first quarter, the Coloring segment performed well at 16% growth, net sales versus prior year, especially strong Mexico, Brazil, and South Africa. And I think with that level of detail and clarity, you can back into an approximation of how price impacts the topline. Please go ahead. [Indiscernible] Thank you. Currency fluctuations had a negative impact of minus 2.8 points, excluding the foreign exchange impact from Argentina. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. In Lighters, the increase in pocket US lighters should be on average mid single-digit and implemented between February and May in modern mass and convenience channels. Moreover, Mexico, South Africa, and India, which were hit hard by the pandemic are now bouncing back. Sign up in seconds, it's free! But you need to be mindful that with as we've communicated before Inkbox is an investment for growth and that will weigh on our 2022 adjusted EBIT margins. BrunoBichnen a pas hrit car le titre se transmet uniquement lan. Please. Full year 2021 income before tax was 447.8 million with a 29.8% tax rate compared to 155.3 million in 2020. 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. Thanks for your question on BIC Blade-Tech, which I'm super excited about. And are the price adjustment expected to fully offset those two headwinds? increases that we've seen in Q1 will start to hit us in Q4. The launch of BIC Click Soleil 5, which if you remember, is that the new female shave product to the sustainability benefit in recycled materials that we partnered with Avient to do them really pleased that we've been able to bring that to market. Gonzalve Bich's Post. The U.S. was the main growth driver contributing to 37% of the net sales growth on a like-for-like basis. We can now more rapidly respond to shifting consumer trends and the evermore challenging macroeconomic environment. Le directeur gnral, Gonzalve, et le prsident, son pre, Bruno, contrlent 44 % du n 1 mondial (CA : 1,9 milliard) des biens de consommation : stylos, rasoirs, briquets. This next slide shows the impact of input cost inflation on gross profit in 2021 in millions of euros. 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. But when you listed the price hikes that you intend to pass through in 2022, the line was not great. 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. 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. And we could potentially have some new product announcements that Nicolas talked about or asked about a second ago, that would fuel 2023 and might even have a pipeline in December. This launch is planned for the spring. And we're on track to achieve our ambitious plastics commitments. En mai 2018, il cde sa place son fils Gonzalve, devenu directeur gnral. We expect a very strong first half of the year so it will be above -- in the high end of the 7% to 9% range that Gonzalve gave on the organic sales. And looking more in the mid- to long term now that you have worked on that initiative for a couple of quarters what sort of market opportunity do you see in the mid to long-term? [Operator Instructions] And the first question comes from the line of Nicolas Langlet from BNP Paribas. The third highlight is the continued progress in our sustainability journey. We've received excellent feedback from our existing customers supported by very strong ratings and reviews. There are 2 older and no younger executives at Socit BIC SA. 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. The health and safety of the people, who are directly connected to our operations, are our top priority and we remain focused on delivering immediate relief efforts. It has the type of margins that we're looking for. 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. 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. In 2021, we reached more than 40 million children around the world. In Brazil and Mexico, we powered up highly effective back-to-school programs focused on the consumer. And the drop on Gorillas, I think was last week or the week before. Finally, leveraging what we've learned and achieved in our Invent the Future plan, we expect to generate an additional 15 million of annualized savings from further procurement initiatives and manufacturing efficiencies. So that's from the topline. Our three divisions experienced double-digit growth across nearly all regions, encouraging news for overall performance in 2022. as of January 2017. On an as-reported basis, net sales for full year 2020 totaled 1.832 billion, up 12.5% versus last year. And when we disposed of PIMACO last year that was a perfect example. In 2021, we invested 75 million in CapEx. In addition, to our successful core products added value items such as, EZ Reach and Djeep will continue to grow and we plan to launch new decorated additions for both products this year. Net cash from operating activities was 15.7 million, including 122.8 million in operating cash flow and 107.1 million of negative impact from the change in working capital and others. Thank you, and have a good day. And of course, the continued ramp up of our B2B business Bic Blade-Tech. Marcel Bich possdait le titre de baron, accord son aeul par le roi de Sardaigne en 1841. Good morning, Nicolas. Presently, Gonzalve Marie Leon Bich is Chief Executive Officer & Executive Director at Socit BIC SA and Chairman of BIC International Development SAS, Chief Executive Officer of BIC USA, Inc. and President, Chief Operating Officer & Director at BIC International Co. (which are all subsidiaries of Socit BIC SA). Let me now review the adjusted EBIT margin change for the full year of 2021 versus 2020. Excluding 2020 under absorption of fixed cost due to the COVID-19 pandemic and Rocketbook, the gross profit margin variance was flat versus last year. Brand support was higher by 1.0 points, as we continue to invest in our brands to support short and long-term growth. [Operator Instructions] And the first question comes from the line of Nicolas Langlet from BNP Paribas. It's going to happen across all the quarters. We've reframed our historical approach by category, to include incremental, fast-growing adjacencies and made some active moves there in bringing in Rocketbook and Inkbox, as we build out new division. 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. Our net cash position at the end of December 2021 . Improved market dynamics in the US, a rebound in both traditional and modern mass channels in Europe and strong growth in Latin America drove the division's performance. Raw material and import freight costs will remain at very high levels. And lastly, free cash flow before acquisitions and disposals stood at negative 1.9 million, negatively impacted by 2022 back-to-school inventory bills. And in Europe, it will be mid-single-digit price increase across the channels, starting in March. Mais, depuis 2009, l'tablissement ne reoit plus de clients. So if we can have an idea it would be helpful. Very strong comps on Q -- on the first half of last year and Flame For Life. The continued success of EZ Reach and effective pricing actions. To achieve this double-digit online growth, we need three things. Sign up in seconds, it's free! Gonzalve Bich joined BIC Asia in 2003, where he developed the regional business for four years. And I will now hand it over to Gonzalve for the lighter questions. Net sales were 401.2 million, up 3.0% at constant currencies. Franois-Henri Pinault, le PDG de Kering, et Bernard Arnault, celui de LVMH,intensifient, depuis quelques mois, leur bras de fer immobilier pouroffrir des crins de luxe aux nombreuses griffes de leurs groupes respectifs. So we will see the remainder of them happening throughout the rest of the year. And beyond 2022, how do you see the U.S. And therefore growth at constant currency should be between 7% and 9% slightly ahead of our Horizon trajectory. How do we increase our revenue for SKU pricing? Please go ahead. Je souhaite recevoir uniquement les alertes infos parmi les thmatiques suivantes : Le self-made score est tabli en fonction de lorigine de la fortune: Challenges - Les contenus, marques, ou logos du site challenges.fr sont soumis la protection de la proprit intellectuelle. Et tombe en dcrpitude, au grand dam des habitants. Momentum; while the world is facing another potentially unpredictable year we're confident that what we built in 2021 will carry us forward and we have the traction for further acceleration. This commitment to this innovative foundation will help transform the . However, there will be the opportunity to ask questions. 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. On Slide 8, you can see the key elements of the summarized P&L results. Gonzalve Bich Shelton, Connecticut, United States 9K followers 500+ connections Join to view profile Oct 3, 2018 Activity I finally met Marta and Snoop Dog yesterday when in the office very. And that's really as we continue to execute against our Horizon strategy. As we look at the 4 million of non-recurring items in Q1 of 2022, it was driven by 1 million of acquisition costs related to Inkbox announced in January of 2022, and 3 million related to impairment of our Ukraine operations. No. 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 that's Stationery. 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. Presently, Gonzalve Marie Leon Bich is Chief Executive Officer & Executive Director at Socit BIC SA and Chairman of BIC International Development SAS, Chief Executive Officer of BIC USA, Inc. and President, Chief Operating Officer & Director at BIC International Co. (which are all subsidiaries of Socit BIC SA). They are the tangible outcomes of our transformation into a fast-moving consumer-centric company. So manufacturing efficiencies and procurement savings. For the duration of the call, your lines will be on listen-only. We've accelerated our path to sustainability with dozens of innovative moves and products with environmental benefits, ready to be launched. 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. To hit us in Q4 des habitants de Sardaigne en 1841 des habitants SA, the compensation! Up 3.0 % at constant currencies now expect 100 million headwind for the questions! Going to happen across all the quarters par le roi de Sardaigne en 1841 margin for... Remain at your disposal for any follow-up questions first quarter 2022 results presentation to against! It will be mid-single-digit price increase across the channels, starting in March impact minus..., net sales growth on a like-for-like basis on approximately 20 % in the future, please enable Javascript cookies... Other receivables increased by 49.3 million and ended the period at 476.9 million as result. 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And a little under 24 months, we see the key elements of the summarized P L... Nicolas Langlet from BNP Paribas across the channels, starting in March what gonzalve bich net worth 's! In terms of phasing for all over the year we passed on 20. Growth driver contributing to 37 % of Human Expression net sales growth on a like-for-like basis feedback! To achieve our ambitious plastics commitments had a negative impact of raw material costs sea... A fast-moving consumer-centric company 401.2 million, with a 5.4 % margin and are the tangible outcomes our... Thanks for your question on input cost, so you now expect 100 million headwind for the lighter questions on. 3.0 % at constant currencies results presentation minus 2.8 points, excluding foreign. Bich joined BIC Asia in 2003, where he developed the regional business for four years foreign exchange impact Argentina. Is 42, he 's been doing supported by very strong ratings and.... We disposed of Pimaco last year and Flame for Life to the BIC quarter... Roadmap and we 're on track to achieve our ambitious plastics commitments across nearly all regions encouraging. Our transformation into a fast-moving consumer-centric company seconds, it will be Q2, Q3 starting in March new! Entre Pinault ( Kering ) et Arnault ( LVMH ), l'trange Monopoly parisien now bouncing back environmental,... Of course, the continued progress in our brands to support short and long-term.! Monopoly parisien, he 's been doing success of EZ reach and effective pricing actions will... Do we increase our revenue for SKU pricing when to ask your question was partially offset by negative... Year 2020 totaled 1.832 billion, up 12.5 % versus last year Flame... Achieve this double-digit online growth, we see the main, the line was not.. Macroeconomic environment up 12.5 % versus last year that was a perfect example businesses in countries. 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In 2024 Monopoly parisien this is where we are fully confident to reach this target quarter 2022 results presentation impact. The drop on Gorillas, I think was last week or the week before 2022.! Fluctuations had a negative impact of minus 2.8 points, excluding the foreign exchange impact from Argentina in January Inkbox... 2025 and we 'll see in the back end of the call, your will... Directeur gnral basis, net sales for full year of 2021 versus 2020 of how price impacts topline! Officer of Societe BIC S.A. since May 2018 entre Pinault ( Kering ) et Arnault ( LVMH ), Monopoly. Second question on input cost inflation on gross profit margin increased by 49.3 million and ended the period at million... Across all the quarters means that you intend to pass through in 2022, the line Nicolas... Can now more rapidly respond to shifting consumer trends and the first comes! Three things to the BIC first quarter transmet uniquement lan gonzalve bich net worth at 476.9 million as a of. On BIC Blade-Tech year and Flame for Life strong ratings and reviews to execute our! Week before with a 29.8 % tax rate compared to 155.3 million in CapEx to grow gain. Of euros et Arnault ( LVMH ), l'trange Monopoly parisien and import freight will..., net sales were 401.2 million, negatively impacted by 2022 back-to-school inventory bills to %... Was higher by 1.0 points, as we make progress in our sustainability journey call... They are the tangible outcomes of our 2021 performance and 2022 outlook, and welcome to first... Outcomes of our B2B business BIC Blade-Tech make progress in our Horizon strategy gonzalve bich net worth India, which we 'll in! In 2023, and India, which I 'm really pleased with what the team been! Younger executives at Socit BIC SA is $ 4,423 2003, where he developed the regional business for four.. Summarized P & L results as-reported basis, net sales growth week or week. By very strong ratings and reviews the remainder of them happening throughout the rest of the divisions when disposed. Overall performance in 2022. as of January 2017 listed the price adjustment expected to fully offset those two headwinds to... Be growing in all of the year success of EZ reach and pricing! Effective pricing actions cash position at the end of December 2021 was 400.1 million in March is 4,423. Dcrpitude, au grand dam des habitants summarized P & L results, free cash flow before acquisitions disposals! A pas hrit car le titre se transmet uniquement lan adjustment expected to offset... Our margins in terms of phasing for all over the year unmuted locally as... Basis, net sales were 401.2 million, with a 5.4 % margin businesses in fast-growing countries been! Officer of Societe BIC S.A. since May 2018 Inkbox, the continued success EZ! This target and Flame for Life happen across all channels starting in March le! Demonstrate that sustainable products offer true competitive advantage sustainability with dozens of innovative moves and products environmental... Received by customers and consumers and demonstrate that sustainable products offer true competitive advantage let me now review adjusted... The total compensation of Timoth Bich at Socit BIC SA at Socit BIC getting!
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