From GlobeNewswire:

The BIC company in Clichy, France reported strong performance for the 4th quarter of 2023 and for the year as a whole, meeting their strategic objectives for 2025. They reported a 9.2% increase in revenue for 2023, with growth in all three divisions. Operating income increased by 6.9% and the adjusted operating margin was 14.7%. The company also saw a strong net cash flow of 248.7 million euros. The company proposed a dividend of 2.85 euros per share for 2023, representing an 11.3% increase from 2022. They also announced an extra dividend of 1.42 euros per share and a share buyback program of up to 40 million euros in 2024. Looking ahead, the company expects revenue growth in 2024 to be between 5% and 7% at constant exchange rates and anticipates a slight improvement in the adjusted operating margin. CEO Gonzalve Bich expressed confidence for the upcoming year and a commitment to continued operational excellence and innovation. The board also proposed a total dividend of 4.27 euros per share, including a regular dividend of 2.85 euros and an additional special dividend of 1.42 euros.

BIC has announced its financial results for the 4th quarter of 2023, including a 1.3% increase in revenue. The company’s operating margin was at 14.2% and the adjusted operating margin was at 14.7%, representing a 70 basis point increase. The net cash flow before acquisitions and divestitures was at 248.7 million euros, while the net cash position reached 385.4 million euros. The company’s strategic plan, Horizon 2025, aims for a 5-7% annual growth in revenue and an approximately 150 basis point improvement in the adjusted operating margin compared to 2022 levels. The net cash flow available is expected to be over 220 million euros in 2024 and over 240 million euros in 2025. In 2023, BIC made significant progress towards these objectives, highlighting achievements in sustainable growth, operational improvement, and cash flow generation. Strengthening their marketing capabilities and implementing innovative campaigns led to growth in various categories, while innovations in the razor segment performed well in the market. The company also successfully reduced the number of product references, leading to improved pricing and product mix, and saw an increase in e-commerce sales. Additionally, the BIC Blade Tech B2B business signed contracts with new clients and is aiming for product launches in 2024. The company also focused on operational excellence, achieving additional direct and indirect savings and executing daily value engineering, with validated savings of approximately 10 million euros. Finally, the company maintained a strong daily cash flow with net cash reaching 248.7 million euros. CEO Gonzalve Bich emphasized BIC’s dedication to meeting their strategic goals for 2025.



Read more: Résultats du Quatrième Trimestre et de l’Exercice