Good morning, Nicolas. 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. The second question on the margin overall. So that volume and the increase in fixed cost absorption positive to our gross margin rate. Walking the talk of corporate purpose and long-term sustainability is important for all companies today and at BIC that's not new. Our teams did a tremendous job during the back-to-school season in Brazil. What Is Bhad Bhabie's Net Worth? And second question, still on M&A and disposals. We achieved this in 2021, with notable performance in developing markets where we grew more than 60% overall. And the last question is about Coloring. What is the salary of Mr Bich? Our adjusted EBIT was a 101.9 million with a 19.8% margin. What is the salary of Timoth Bich? In 2021, we reached more than 40 million children around the world. Thanks to our team's outstanding commercial execution, we begin the year with deeper and more enriched customer relations founded upon improved consumer understanding. Entre Pinault (Kering) et Arnault (LVMH), l'trange Monopoly parisien. This ends the review of our 2021 consolidated results. This includes one to two points growth from Inkbox and all divisions will contribute to organic growth. However, as already mentioned, supply chain issues impacted our operations, leading to a weak full year performance in the U.S. despite a rebound in the fourth quarter. [Indiscernible] performance was driven by successful back-to-school seasons in both Brazil and South Africa, as well as early shipments to customers for the upcoming back-to-school season in both the U.S. and Europe, which added approximately 5 million to Q1 net sales. Net income group share was 67.6 million as reported for Q1 of 2022 compared to 161.6 million for Q1 of 2021. Adjusted EBIT margin for the division increased by 1.2 points, explained by favorable net sales leverage and favorable fixed cost absorption. On Slide 17, you can see the key elements of the summarized P&L results. Sign up in seconds, it's free! In addition, it sells pantyhoses, batteries, and shaving preps; and advertising and promotional products. Gonzalve Bich is the CEO & Director at Socit BIC SA. If you have an ad-blocker enabled you may be blocked from proceeding. Now before opening the floor to questions, I'd like to take a step back to reflect on the main themes that stand out during this presentation with three words: momentum, determination and growth. Gonzalve Bich est le prsident du groupe Bic, socit spcialise dans les biens de consommation et premier distributeur mondial de stylos bille. I answered your question on gross profit I just want to continue because the question will come again about the EBIT margins. So what we like to say is all-in-all, we expect to protect our gross margins including the positive impact from consolidating Inkbox because Inkbox has a very strong gross profit margin. Rocketbook. 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. The company was founded in 1944 and is headquartered in Clichy, France. The company was founded in 1944 and is headquartered in Clichy, France. Thank you, Sophie. Thank you. Thank you, Gonzalve. We will sharpen our focus on consumer-centric innovations and drive commercial excellence even further. 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. I'll now review our operational and consolidated results for the first quarter of 2022, starting with our performance in Human Expression division. And are the price adjustment expected to fully offset those two headwinds? We still have work to do to reduce the use of virgin plastic in our products, with some initiatives delayed due to industrial constraints. Read More. This also demonstrated that our all flame occasion strategy is relevant and can sustain growth in lighter. Net finance revenue was negative 4.2 million compared to a negative 1.4 million for the same period in 2020. Do I think that they're an inventory dislocation? With that in mind, let's take a look at a snapshot of our financial performance in 2021. Marcel's grandson Gonzalve Bich has been CEO since 2018. Now, BIC has -- had a reputation for cautiousness and for delivering rather than promising. Thanks very much for your questions. Just the first one which was the visibility on Lighter and shave in the second quarter. Last updated: 1 March 2023 at 11:00am EST. Please ensure your line is unmuted locally, as you will be advised when to ask your question. I'd like to think of the gross profit probably I think it's a more holistic conversation to talk about gross profit in general and how we think about that because there's many elements to it. Please disable your ad-blocker and refresh. You've added a question. For the duration of the call, your lines will be on listen-only. The disposable Shaver market will continue to be challenging with the anticipation of several new competitor product launches. Throughout the year we successfully managed raw material scarcity, price increases, sea freight disruption, a shortage of local transportation, and ongoing mobility restrictions in many countries. Our next major milestone within reach is attaining a 15th share of this important pillar of horizon. [Operator Instructions] We have no further questions in the queue. Thanks, Gonzalve. But you never really know that that depends on when the planogram resets our with our customer base. . 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. I've got three questions from my side. And it kind of answers your second question which is, yes you should see us continue to do bolt-ons where they make sense. This robust performance was fueled by efficient digital brand support investment, driven by a very simple idea, that a BIC seen is a BIC sold, regardless of whether it's online or offline. 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. In 2022, as we pursue our transformation towards a more agile organization, we're confident to continue in this direction and we are planning additional savings which will help mitigate headwinds. Adjusted EBIT for Q1 2022 was 101.9 million compared to 60.5 million last year, with an adjusted EBIT margin of 19.8% this year versus 14.7% last year. And also, we expect to see a positive back-to-school phasing in both Europe and North America as our customers wish to phase shipments ahead of their 2022 back-to-school seasons. In Shaver, we'll focus on RGM to leverage price pack architectures and promotional effectiveness to ensure that we're delivering the right portfolio to meet the customer needs in both Europe and the US. It's going to happen across all the quarters. The increase in raw material cost and sea and airfreight costs was offset by manufacturing efficiencies. Net sales performance was driven by U.S. lighters outstanding results. Nos estimations recensent lensemble des actifs professionnels, cots et/ou non cots, mais ne prennent pas en compte les biens personnels (biens immobiliers, voitures, uvres dart), N(e) le What is the salary of Mr Bich? Our sell-in performance was driven by strong results from premium products, such as the flex and solely ranges in Europe. And as a reminder, our Q1 results will be released on 25th of April and our next AGM will be held on May 18. He said there were four. So I will hand the call back to your host to close today's call. There are no executives at Socit BIC SA getting paid more. I'll begin by reviewing the net sales results for the first nine months of 2021. EZ Reach is absolutely a runaway success. So on a total consolidated basis we're looking to protect our gross margin rate. And we said the -- we have a continued impact of raw material in 2022, but we haven't given a specific guidance or the pieces of how much is raw material. Cello Writing Instruments & Containers Pvt Ltd. President, Chief Operating Officer & Director. In Latin America, we performed strongly in Brazil, driven by the continued demand for smoking and nonsmoking usages, helped by high barriers for import lighters, as well as successful price increases implementations. Now let me give the floor back to Gonzalve. So that's how you can think about phasing from first half to second. Inventories ended the period at 593.7 million. Rocketbook contributed 3.7 points to our growth last year. In 2021, we launched several innovative new products with reduced environmental impact. Our 2022 is off to a strong start, powered by the continued implementation of our Horizon strategy. And we'll continue to look to supporting our R&D as well as we look to long-term innovation. There are no executives at Socit BIC SA getting paid more. [Operator Instructions] And the first question comes from the line of Nicolas Langlet from BNP Paribas. We started 2022 with strong momentum. Perfect. Thank you. Before moving to a rapid overview of our financial KPIs, I'd like to say a word on the recent acquisition of Inkbox, the leading brand of high-quality semi-permanent tattoos. And you shouldn't -- that would not be something we'd anticipate in the future at those rates. Building on 2021's momentum and the execution of the Horizon Plan, we expect full year 2022 net sales to grow between 7% and 9% at constant currencies. BrunoBichnen a pas hrit car le titre se transmet uniquement lan. That would be definitely a low point for you to consider, that's a very fair assumption. Vendu plus de 100 milliards d'exemplaires, il reste ce jour le stylo le plus vendu dans le monde. And the last question, quick one on the U.S. Europe position for 2023, have you accelerated your [Indiscernible] given the current level of the exchange rate? While facing external headwinds, we did not let our guard down. Which I will tackle in a second. If you have an ad-blocker enabled you may be blocked from proceeding. There's other things that we could be doing. The performance of our Flame for Life division should come from growth across all regions including the U.S. Early life. Thank you and good morning everyone. Turning to blade excellences, adjusted EBIT margin, it increased by 9.7 points driven by net sales leverage, favorable fixed cost absorption, as well as the positive contribution from BIC Blade-Tech B2B business. Full year 2021 Human Expression adjusted EBIT margin, decreased by 0.4 points. Our growth was outstanding at plus 15.9% net sales at constant currencies compared to initial expectations of 5% to 7%. And we'll talk about disposals as well because to your point, rotation is not just about acquiring, it sometimes you need to accept that a project is over. Excluding 2020 under absorption of fixed cost due to the COVID-19 pandemic and Rocketbook, the gross profit margin decreased by 2.5 points. Q1 2022 income before tax was 95.2 million with 29.0% tax rate compared to 228.2 million in 2021. g***@bicworld.com. We expect mid to single-digit organic growth driven by higher volumes, new product launches and pricing. 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. Thanks. Moreover, Mexico, South Africa, and India, which were hit hard by the pandemic are now bouncing back. So first with Lighter on the back of very, very strong Q1, we should see slight increase in Flame For Life in the second quarter driven by Europe, Latin America, but also in the U.S. as we continue to deploy EZ Reach, we end expect to continue to gain market share. 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. Lighter industry. On an as-reported basis, net sales for full year 2020 totaled 1.832 billion, up 12.5% versus last year. Thanks to the success of BIC EZ Reach in the US and the addition of Djeep Lighters in Europe, added-value products accounted for almost 36% of total sales in 2021, on track to reach our 50% objective in 2025. The increase in raw material, freight and distribution costs more than offset the positive impacts from net sales growth and manufacturing efficiencies. In addition to the ordinary dividend, we launched a 40 million share buyback program -- as in 2021 an ESG component will allow us to allocate funds to the Abdul Latif Jameel Poverty Action Lab and the BIC Corporate Foundation for Education. The second half will be on the low end of our net sales range. We expect material improvement in 2023, and as mentioned in January, Inkbox should be EBIT positive in 2024. Developing markets such as Mexico, South Africa, and India, which were hit hard by the pandemic, recovered well with double to the triple-digit growth during the first quarter. Consistent with our Horizon Plan's target 2022 free cash flow is expected to be above 200 million. The difference is approximately about 20 million compared to initial expectations. And so we divested it and it's on to a future that it has. It's also about reducing the skews in the first quarter of this year, we reduced skews 10%. 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. Have you now implemented all the adjustments you expect for the full year or you see room for [Indiscernible] increase potentially in the coming months and quarter? On slide 19, we see the main elements in working capital. All rights reserved. Thank you for listening the call and joining us. It's a far reaching impacts across all facets of our business. In our Flame For Life division, net sales were 718.5 million, up 20.3% at constant currencies. In Brazil and Mexico, we powered up highly effective back-to-school programs focused on the consumer. To ensure that our innovation funnel is filled with exciting new products, we also boosted our global innovation pipeline. So here we are, and so are the results. 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. The Q1 gross profit margin increased by 0.2 points to 51.8% compared to 51.6% in Q1 of 2021. Adjusted net income group share for Q1 2022 was 71.0 million compared to 43.0 million last year for the same period. And so we're not afraid to sometimes do those smaller bolt-ons. Gonzalve Bich is the CEO & Director at Socit BIC SA. It is also critical to continue to invest in our organic growth and a prerequisite to funding external growth. Thank you for joining today's call. 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. There are 10 executives at Socit BIC SA getting paid more, with Gonzalve Bich having the highest compensation of $1,648,089. Let me now review the adjusted EBIT margin change versus prior year for the first quarter of 2022. Welcome everyone and thank you for joining us this morning. Moreover, we continue to grow and gain two points of market share and coloring a key strategic segment for us. I'll take the first two, which are really growth related. 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? Et dans ce duel, il n'est pas vraiment question desoldes L'intrigant htel l'abandon de Vincent Bollor dans le Finistre. The company also provides pocket, utility, decorated, non-decorated classic, electronic, and multipurpose lighters. Thanks, [Indiscernible] for your question. Third on Lighter, what is the current levels of inventory in the U.S. vis -a - vis China? 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. And as we talk about the gross profit and the headwinds we talked about the volume. Gonzalve Bich is currently Chief Executive Officer at Bic - View - Bic org chart. I'll start this presentation with an overview of our 2021 achievements and then cover the key drivers of those achievements in more detail. This was mainly due to the decline of the US dollar and the Brazilian real against the euro. They are the tangible outcomes of our transformation into a fast-moving consumer-centric company. I'd also mention the outstanding execution of our e-commerce teams worldwide, particularly in developing countries where sales growth was more than 60%. Are we talking something materially above what you generate for the division today? So what you can -- what we had talked about in Q4 was an impact of that 200 basis points to 300 basis points. You may now disconnect your lines. Net finance revenue was negative 2.6 million compared to a positive 0.8 million for the same period in 2021. Right now, though we're very focused also on building. Not in H2. So you mentioned a lot of ups and downs in the gross profit and EBIT margin cadence. This launch is planned for the spring. So definitely, acquisitions some divestitures, but really leaning into growth is what my team Chad and I do day in and day out and are super, super laser-focused on. In Mexico the outstanding first-quarter performance of the market was driven by the return to in-person classes and preludes to a very good 2022 back-to-school. Gonzalve Bich - Chief Executive Officer. Starting with our performance in Human Expression division. 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. Chad will take us through the financial performance in more detail a bit later. He was Chief Operating Officer (COO), responsible for BIC Group Consumer Business, Human Resources and I.T. Okay. Let me pause here to highlight the incredible job of our Brazilian team. On an as-reported basis, net sales for Q4 2021 totaled 436.8 million, up 6.5% versus last year. On that note, here's Chad who will now -- who will step in now to present our operational and consolidated financial results. There are no executives at Socit BIC SA getting paid more. The oldest executive at Socit BIC SA is Sara A. LaPorta, 60, who is the Chief Strategy & Bus. Is this happening to you frequently? You may now disconnect your lines. Engage via Email. We bought back 13.1 million worth of shares in the first-quarter of 2022. With this in mind, let's take a look at a snapshot of our financial performance in the first quarter of 2022. He was Chief Operating Officer (COO), responsible for BIC Group Consumer . 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. As you can see we did very well in packaging with a 17.1 point increase in our use of reusable recyclable and compostable plastic in our packaging. 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. Devel. Gonzalve Bich is the CEO & Director at Socit BIC SA. So Chad, your point, it's not only about prices, it's also about promotional effectiveness. Devel. 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. He added a question in U.S. Yet at this time last year, it was inconceivable that growth rates would more than double. So I've got three questions. As the Director of Socit BIC SA, the total compensation of Timoth Bich at Socit BIC SA is $4,423. Please go ahead. 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. 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. L'ONG Oxfam accuse les milliardaires (et notamment 10 Franais parmi eux) d'avoir profit de la crise du Covid pour s'enrichir. Trade and other receivables ended at 418 million. We achieved this in 2021. Our balance sheet is purposefully strong because we believe that a sound financial situation is key in the current volatile environment. This is to ensure strong supply to our customers who asked to have inventories delivered earlier this year and to a lesser extent, input cost inflation, such as raw material, freight, and electricity. Gonzalve Bich is the CEO & Director at Socit BIC SA. For the duration of the call, your lines will be on listen-only. There are 2 older and no younger executives at Socit BIC SA. So you mentioned the minus 8 million and minus 13 million for 2021. As Gonzalve mentioned earlier, we successfully reached our Invent the Future plan operational and financial targets one year ahead of when we committed to. Please go ahead. In addition Gonzalve talked about the myriad of price increases in Stationery Lighter and Shaver that also is going to offset. Thank you, and have a good day. I'll now give the floor to Chad, who'll take us through our operational and financial performance in more detail. En 1945, la socit PPA (Porte-plume, Porte-mines et Accessoires) est cre par Marcel Bich. EPS group share for full year 2021 was 7.02, compared to 2.08 in full year 2020. As I reflect on what we achieved, the four things that stand out for me are; net sales growth, our resilience to external headwinds, our continued progress on sustainability, and maintaining our strong cash flow. To be challenging with the anticipation of several new competitor product launches and pricing ce jour le stylo le vendu. 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