BIC UPDATES ITS FULL YEAR 2017 NET SALES OUTLOOK
29 September 2017 - 5:40PM
BIC Group - Press
Release
Clichy - 29 September 2017
Pursuant to the
Commission implementing regulation (EU) 2016/1055 of 29 June 2016
laying down implementing technical standards with regard to the
technical means for appropriate public disclosure of inside
information and for delaying the public disclosure of inside
information in accordance with Regulation (EU) No 596/2014 of the
European Parliament and of the Council, this press release may
contain inside information and has been sent to the authorized
broadcaster of Société BIC on 29 September 2017 at 05:40 pm Paris
time.
BIC updates its Full Year 2017 Net Sales
Outlook
Net Sales Organic
Growth[1] is expected
to be slightly below 2%, compared to between +3% and +4%
communicated previously.
At this sales growth level, we
expect 2017 Normalized Income from Operations margin decline to be
less than 100 basis points.
The revised Full Year 2017 Net
Sales Organic Growth outlook is due to:
Despite these challenging sales
trends, the Group confirms its Normalized Income From Operations
margin outlook of less than 100 basis points decline as a result of
adjustments in Brand Support investments and Operating Expenses for
the balance of the year.
A conference call hosted by Bruno Bich - CEO,
Gonzalve Bich - COO and Jim DiPietro - CFO is scheduled today at
06.45 pm (18h45) Paris time. Dial numbers:
From France: |
+33 1 72
72 74 03 followed by PIN: 27852154# |
From the UK: |
+44 207
19 437 59 followed by PIN: 27852154# |
From the USA: |
+1 844 28
606 43 followed by PIN: 27852154# |
To ensure your
participation, dial-in 10 minutes before the start of the
call.
If you are unable to participate,
a replay of the conference call will be available, until October
09, 2017 (included), by calling:
From France: |
+33 (0)1
72 00 15 00 |
From the UK: |
+44 (0)
203 36 794 60 |
From the USA: |
+1 877 64
230 18 |
Access number: |
310990# |
-
Comparative basis: at
constant currencies and constant perimeter. Figures at constant
perimeter exclude the impacts of acquisitions and/or disposals that
occurred during the current year and/or during the previous year,
until their anniversary date.
-
Normalized IFO: normalized
means excluding non-recurring items.
-
Normalized IFO margin:
Normalized IFO as a percentage of Net Sales.
This document
contains forward-looking statements. Although BIC believes its
expectations are based on reasonable assumptions, these statements
are subject to numerous risks and uncertainties. A description of
the risks borne by BIC appears in the section, "Risk Factors" in
BIC's 2016 Registration Document filed with the French financial
markets authority (AMF) on March 22, 2017.
Investor Relations: +33 1 45 19 52 26 |
Press Contacts |
Sophie
Palliez-Capian
sophie.palliez@bicworld.com |
Isabelle de
Segonzac: +33 1 53 70 74 70
idesegonzac@image7.fr |
Katy
Bettach
katy.bettach@bicworld.com |
|
For more information, please consult the corporate
website: www.bicworld.com
2017-2018 Agenda (all dates to be confirmed)
3rd Quarter 2017
results |
25 October
2017 |
Conference
call |
Full Year
2017 results |
14 February
2018 |
Meeting -
BIC Headquarters |
First
Quarter 2018 results |
25 April
2018 |
Conference
call |
2018
AGM |
16 May
2018 |
Meeting -
BIC Headquarters |
BIC is a world
leader in stationery, lighters, shavers and promotional products.
For more than 60 years, BIC has honored the tradition of providing
high-quality, affordable products to consumers everywhere. Through
this unwavering dedication and thanks to everyday efforts and
investments, BIC has become one of the most recognized brands and
is a trademark registered worldwide for identifying BIC products
which are sold in more than 160 countries around the world. In
2016, BIC recorded Net Sales of 2,025.8 million euros. The Company
is listed on "Euronext Paris" and is part of the SBF120 and CAC Mid
60 indexes. BIC is also part of the following Socially Responsible
Investment indexes: CDP's Climate A List, CDP's Supplier Climate A
List, CDP Supplier Engagement Leader Board, FTSE4Good indexes,
Ethibel Sustainability Index (ESI) Excellence Europe, Euronext
Vigeo - Eurozone 120, Euronext Vigeo - Europe 120, Stoxx Global ESG
Leaders Index.
[1] Organic
Growth: change on a comparative basis - see glossary page 2
[2] BIC
Value Share Point change vs. YAG - U.S. Disposable shaver segment:
YTD: -1.7, 13 weeks: -0.7, 4 weeks: -0.2 (Source: IRI Period ending
27-AUG-17)
BIC_FULL YEAR 2017 NET SALES
OUTLOOK UPDATE
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: BIC via Globenewswire
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