Bic (OTCPK:BICEF)

Full Year 2024 Societe BIC SA Earnings Call Transcript

Feb 19, 2025 / 07:30AM GMT

Release Date Price: $66.2

Transcript

Key Points

Positve

Bic (BICEF) achieved a solid adjusted EBIT margin of 15.6% in 2024, surpassing their long-term Horizon target of 15.5%.
The company delivered adjusted EPS growth of 8%, reaching more than EUR6, a record high since 2017.
Bic (BICEF) generated EUR271 million of free cash flow, reflecting strong financial discipline.
The acquisition of Tangle Teezer is expected to support Bic (BICEF)'s Horizon strategy by providing exposure to a fast-growing and profitable business.
Bic (BICEF) saw significant geographical expansion, with strong performance in Europe, Latin America, and the Middle East and Africa.

Negative

Full year 2024 net sales growth was below expectations, with only a 0.8% increase at constant currency, excluding Argentina.
The US market faced negative consumption trends, resulting in a mid-single digit market decline in value.
The Human Expression division's growth was negatively impacted by the soft performance of Skin Creative and Digital Writing businesses.
The Flame for Life division experienced a challenging year in North America due to a downturn in consumption trends.
Bic (BICEF) faced higher raw material costs and unfavorable fixed cost absorption, impacting their overall financial performance.

Operator

Good day and welcome to BIC's fourth quarter and full-year 2024 results conference call. Throughout today's recorded presentation, all participants will be in a listen-only mode. Later we will conduct a Q&A session. (Operator Instructions)

And now I'd like to hand the call over to your host, Brice Paris. Please go ahead.

Brice Paris

Societe BIC SA - Head of Investor Relations

Good morning and welcome to BIC's full-year 2024 results call. I'm Brice Paris, Head of Investor Relations. We are in cliche today with Gonzalve Bich, our CEO, and Chad Spooner, our CFO. This call is being recorded and the replay will be available on our website with the presentation and press release. We'll start with the results presentation followed by a Q&A session. First, please take the time to read the disclaimer at the beginning of the presentation.

With that, I give the floor to Gonzalve.

Gonzalve Bich

Societe BIC SA - Chief Executive Officer, Director

Good morning, everyone. Thank you for joining us today

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