BIC 
Essential Growth
Investor Relations Presentation April 2024
The BIC Growth Proposition
A world leader in creative expression, lighters and shavers
One of the most recognized
brands, creating high quality,
safe, affordable, essentials.
Trusted in
+160 countries
A consumer-centric brand, meeting rapidly changing needs
- 28 million BIC products bought daily, driven by value and strong brand
- BIC is successfully expanding into new segments to meet new needs
- Strong track record for growing above market rates in all global territories
- Blue chip commercial and operational capabilities being deployed
- Ambitious sustainable development goals
2
BIC 2023 Key Financial Figures
14,643 | €2,263m | €333m | 14.7% |
Adjusted EBIT | |||
Team members1 | Net Sales | Adjusted EBIT2 | Margin2 |
€5.70 | €249m | €385m | €210m |
Shareholder | |||
Adjusted EPS2 | Free Cash Flow3 | Net Cash Position | |
return4 | |||
2023 Key Figures | 3 Before acquisitions and disposals |
1 BIC workforce includes permanent employees, fixed-term contracts and agency temporary staff | |
2 See glossary in appendix | 4 Shareholder return = dividends + sharebuybacks |
BIC's Horizon Strategic Plan, launched in 2020
Expand total | Leverage | Capitalizing on |
addressable | ||
innovation | ||
markets in fast- | BIC's unique | |
capabilities and | ||
growing segments, | identity, consumer- | |
global | ||
and apply enhanced | centric brands and | |
manufacturing | ||
commercial | market reach | |
excellence | ||
execution | ||
The Horizon strategic plan has
5 key objectives:
- Reframing our three categories to accelerate top-line growth
- Taking our sustainable development journey to the next level
- Remaining on a mid-single digit growth trajectory while improving operating margins
- Maintaining strong cash-flow conversion
- Sustaining solid returns to shareholders
4
Horizon Strategic Plan: 2025 Financial Objectives
Balancing key initiatives to maximize returns
Deliver Sustainable Growth
Execute Operating Efficiencies
Capture Cash
Every Day
Annual net sales growth:
+5% to +7%1
Adjusted2 EBIT margin improvement: ~150 bps from 2022 level of 14.0%
Free Cash Flow above €220 million in 2024 above €240 million in 20253
Objectives are based on current market assumptions in Appendix
1 At constant currency | |
2 See glossary in appendix | 5 |
3 Above the initial >€200 million objective | |
Horizon Strategic Plan: 2023 Achievements
Deliver mid-single | Growing | Free Cash Flow | Funding profitable | Sustainable | ||||||||||
digit annual Net Sales | aEBIT margin | generation >€200 | growth | shareholder return | ||||||||||
growth | million | |||||||||||||
Net Sales | aEBIT | Free Cash | Return to | |
Growth1 | margin2 | Flow3 | Capex | Shareholder4 |
+9.2% | +70bps | €249 million | €105 million | €210 million |
1 At constant currency
2 See glossary in appendix
3 Free Cash Flow: before acquisitions and disposals | 6 |
4 Return to shareholder = dividends + share buybacks | |
BIC's Capital Allocation Policy
Sustainable Growth and Shareholder Return
1. Investments
Approx.
Payout
ratio in the
into €100m per
operations year (CAPEX)
On
average
2. Targeted approx.
Acquisitions €100m
range of
40-50% of
3. Ordinary |
Dividend |
adj. EPS
Regular | 4. Share |
program | Buyback |
per year
Focus on BIC's Shareholder Remuneration
210 | 220 | |||||
€2.85 | €1.42 | in million euros | 60 | |||
100 | ||||||
Ordinary Dividend1 | Exceptional Dividend2 | 120 | 134 | 40 | ||
117 | ||||||
for 2023 fiscal year | 7 | 39 | 39 | |||
50% | 2023 Payout | 110 | 110 | 120 | ||
ratio3 | 95 | |||||
81 | ||||||
up to | 2024 Share | 2020 | 2021 | 2022 | 2023 | 2024e |
€40m | Buyback program | |||||
Ordinary | Exceptional | Share | ||||
dividend paid | dividend paid | buyback | ||||
(previous year) | (previous year) |
1 Payable on June 12, 2024, subject to the May 29, 2024, AGM approval - Based on 42,270,689 shares
2 | Payable on September 18, 2024, subject to the May 29, 2024, AGM approval - Based on 42,270,689 shares | 8 |
3 | Dividend per share / Adjusted EPS Group share | |
Full Year 2024 Net Sales are expected to grow between +5% and +7% at constant currency1 driven by volumes, price and mix.
2024 Financial
Outlook
Free Cash Flow is
expected to be
above €220 million
We expect a slightin 2024. improvement in
adjusted EBIT
margin in
Full Year 2024.
1excluding Argentina net sales due to hyperinflationary context
9
BIC in a nutshell
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Disclaimer
BIC SA published this content on 24 April 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 April 2024 14:49:14 UTC.
