BIC: Adjustment to Full Year 2019 Outlook
11 Oktober 2019 - 5:45PM
BIC: Adjustment to Full Year 2019 Outlook
BIC – Press ReleaseClichy
– 11 October 2019
Adjustment to Full Year 2019
Outlook
BIC announces it is adjusting its Full Year 2019
Outlook. Third Quarter and Nine Months 2019 results remain
provisional and will be released, as planned, on October 23rd,
2019.
The Group now expects Net Sales
evolution to be between flat and -2.0% on a comparative
basis, compared to a slight increase initially
forecasted. Third Quarter Net Sales are expected to decline
by -0.5%, and Nine Months Net Sales by ‑1.2% on a comparative
basis.
The adjustment to the Full Year 2019 Net Sales
Outlook is due to lower than expected Q3 Net Sales resulting
from:
- Further deterioration in U.S. Lighters’ market:
- Although BIC has maintained its market share in both volume and
value, the U.S. pocket lighter market continues to be heavily
disrupted. Year-on-Year, the market declined by -8.5% in volume and
by -6.0% in value. In the last three months, volume and value
declined by -9.5% and -8.1%, respectively (source: IRI – 29
September 2019).
- Soft Stationery Net Sales with:
- Weak performance in the U.S. and Mexico during the
Back-to-School season, which offset the favorable sell-in phasing
impact,
- Slower than expected recovery in India, where, in a challenging
trading environment, Cello’s Third Quarter Domestic Net Sales
continued to be affected by the high level of Superstockists’
inventories.
The Full Year 2019 Normalized Income
from Operations margin is expected to be in the lower end of the
16.5% to 18% initial range. Despite lower volumes
than anticipated and continued unfavorable Foreign exchange trends,
the NIFO margin for the balance of the year should benefit from
lower Costs of Production, and lower Brand Support Investments
compared to the First Half. Third Quarter NIFO should be at 18%,
and Nine Months NIFO at 16.6%.
In this increasingly challenging trading
environment, BIC continues its transformation journey towards a
more agile, integrated, innovative, and efficient company. By
leveraging its strong business foundations with a more
consumer-centric organization, “BIC 2022 - Invent the Future” will
allow unlocking the Group’s full potential to drive long-term
growth and cash flow generation.
Third Quarter and Nine Months 2019 results will
be released on 23rd October before market opening.
Contacts
Sophie Palliez-Capian – VP, Corporate Stakeholder
Engagement sophie.palliez@bicworld.com |
Investor Relations Contact |
Press Contacts |
Michèle Ventura: +33 1 45 19 52 98michele.ventura@bicworld.com |
Albane de La Tour d’Artaise +33 1 45 19 51 51
Albane.DeLaTourD'Artaise@bicworld.com Isabelle de Segonzac :
+33 6 89 87 61 39isegonzac@image7.fr |
For more information, please consult BIC’s
Corporate website: www.bicworld.com
2019/2020 Agenda- dates to be
confirmed
Third Quarter 2019 results |
23 October 2019 |
Conference call and Webcast |
Full Year 2019 results |
12 February 2020 |
Meeting and Webcast |
First Quarter 2020 results |
23 April 2020 |
Conference call and Webcast |
2020 AGM |
20 May 2020 |
Meeting |
First Half 2020 results |
29 July 2020 |
Conference call and Webcast |
About BIC
BIC is a world leader in stationery, lighters
and shavers. For more than 70 years, BIC has honored the tradition
of providing high-quality, affordable products to consumers
everywhere. Through this unwavering dedication 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 2018, BIC Net Sales were 1,949.8
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 A list and
CDP “Supplier Engagement rating Leader board”, Euronext Vigeo –
Eurozone 120, Euronext Vigeo – Europe 120, FTSE4Good indexes,
Ethibel Pioneer and Ethibel Excellence Investment Registers,
Ethibel Sustainability Index (ESI) Excellence Europe, Stoxx Global
ESG Leaders Index.
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