Our goal is to mitigate their impact on our P&L as much as possible and to protect our margins, and we have action plans. This decline is mainly explained by 4.1 points of negative impact from raw material costs and sea and airfreight costs, which ended higher than we communicated last October. Further, the company is involved in the provision of delivery services; production of industrial equipment; and manufacture and distribution of IT solutions and consumer products, as well as in real estate and insurance activities. 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. En 1945, la socit PPA (Porte-plume, Porte-mines et Accessoires) est cre par Marcel Bich. So you should expect more of that from us in 2022. Net income group share was 314.2 million as reported for 2021, compared to 93.7 million for 2020. So very much a strong contributor to the total division in the mid-term and accretive to profit margins. So on a total consolidated basis we're looking to protect our gross margin rate. We achieved this in 2021, with notable performance in developing markets where we grew more than 60% overall. Part of this strong performance was due to the delayed shipments of orders in the fourth quarters -- fourth quarter of 2021 effected by supply chain issues. As you can see, we grew or held our positions in 60% to 70% of countries in our three divisions despite challenging markets. That was for Lighter. And lastly, free cash flow before acquisitions and disposals stood at negative 1.9 million, negatively impacted by 2022 back-to-school inventory bills. The perimeter impact adjustments include mainly the acquisition of Inkbox, partially offset by the Pimaco divestiture. Thank you. Rocketbook contributed 3.7 points to our growth last year. Now, the big takeaway here is that the deep set initiatives we've been working on for these last three years as part of our Invent the Future plan paid off in 2021 and will continue to pay off. Mais, depuis 2009, l'tablissement ne reoit plus de clients. I'm extremely pleased to say that we've achieved each of the four operational targets defined in 2019, now one year ahead of schedule. Inkbox's investments in growth will weigh between 50 and 80 basis points on 2022 adjusted EBIT margin. Gonzalve Bich Net Worth Mr. Gonzalve Bich biography. Many thanks. It offers ball and coloring felt pens, markers, stickers, sticky notes, leads, whiteboards, and correction tapes, as well as graphic, coloring, mechanical, and other pencils; reusable notebooks, smart pens, slate tablets, stylus for tablets, crayons, art and craft kits, erasers, temporary tattoo markers, refillable shavers, razors shave cream, body and face lotions, finger painting products, and watercolors; correction fluids, pens, and tapes; and gel ink, roller, and fineliner pens; and ball and gel pen, color, and mechanical refills. The increase in overall freight and distribution costs, was driven by the acceleration of customer demand. The oldest executive at Socit BIC SA is Sara A. LaPorta, 60, who is the Chief Strategy & Bus. Vendu plus de 100 milliards d'exemplaires, il reste ce jour le stylo le plus vendu dans le monde. Thanks to our team's outstanding commercial execution, we begin the year with deeper and more enriched customer relations founded upon improved consumer understanding. I will now hand over to your host Sophie Palliez to begin today's call. Moving now to shareholder remuneration. The consolidation of Inkbox should add between one and two points of growth. So manufacturing efficiencies and procurement savings. Que se passe-t-il vraiment? Finally, in line with our horizon goals, added value lighters represented 38.6% of total Flame For Life net sales in Q1. This next slide shows the impact of input cost inflation on gross profit in 2021 in millions of euros. As we look at the 4 million of non-recurring items in Q1 of 2022, it was driven by 1 million of acquisition costs related to Inkbox announced in January of 2022, and 3 million related to impairment of our Ukraine operations. A perfect illustration of our open innovation strategy is the announcement and development of a new recycled material in partnership with Avient. He was Chief Operating Officer (COO), responsible for BIC Group Consumer Business, Human Resources and I.T. On a comparative basis, our net sales were up 18.8%, mainly explained by a strong performance in North America lighter, as well as the big stationary business rebound in Brazil and South Africa. And looking at the Lighter U.S. markets for the full-year, I think you should expect mid to high-single-digit decline in absolute term, what are the main driver of such a decline? I'll start this presentation with an overview of our 2021 achievements and then cover the key drivers of those achievements in more detail. [12] Yacht racing and sailing [ edit] Bich was a keen sailor. But you never really know that that depends on when the planogram resets our with our customer base. This was mainly due to the decline of the US dollar and the Brazilian real against the euro. And it means that you're generating higher dollars per skew, you're being more productive. In 2021, we shifted gears in e-commerce and grew BIC e-commerce net sales by 21%. The Q1 gross profit margin increased by 0.2 points to 51.8% compared to 51.6% in Q1 of 2021. Your next question was about input cost headwinds, and how has it changed compared to what we sold since we spoke to you last? Good pipeline of new products and new projects to animate 2022. Second question on input cost, so you now expect 100 million headwind for the full year. This includes one to two points growth from Inkbox and all divisions will contribute to organic growth. So why don't I start off with your first question raw material and freight what was factored into 2022 and will price fully offset that. Thanks, Chad. The full year gross profit margin increased by 2.7 points at 50.8% for 2021, compared to 48.1% in 2020. In Brazil and Mexico, we powered up highly effective back-to-school programs focused on the consumer. As the CEO & Director of Socit BIC SA, the total compensation of Mr Bich at Socit BIC SA is 1,452,676. Yes, we are actively hedging for next year, given the favorable rates that we're seeing right now on the U.S. dollar. Copyright 2023 Surperformance. Wallmine is a radically better financial terminal. 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. However, there will be the opportunity to ask questions. Do you see there is a catch-up essentially in Q2 or has it been done in Q1? The perimeter impact adjustments are driven by the acquisition of Rocketbook plus 2.8 points; and Djeep plus 0.5 points, partially offset by PIMACO divestiture. When we announced the acquisition two months ago, not even two months ago. Yes. Yes. And lastly, free cash flow before acquisitions and disposals stood at 205.7 million. Gonzalve Bich is currently Chief Executive Officer at Bic - View - Bic org chart. Do you plan to launch new product because the performance was pretty weak for the Q1 and to our point of view but we are probably less well-placed than you to comment, that is that the product portfolio seems quite limited for work at books. Please go ahead. Adjusted net income group share for Q1 2022 was 71.0 million compared to 43.0 million last year for the same period. Lighters should decrease low-to-single digit. We will start with the usual presentation and then open the floor to your questions. 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? Gonzalve was Consultant for Deloitte & Touche. In the US, we were faced with the continued challenging competitive environment, affected by aggressive promotional activity and value segments. Is this happening to you frequently? Of course, we will see a greater impact as well and will have some impact obviously in Q4, but Q2, Q3 will be the larger of the quarter's overall. In Latin America our trade-up strategy continued to pay off as we outperformed the markets in both Brazil and Mexico. Further, the company is involved in the provision of delivery services; production of industrial equipment; and manufacture and distribution of IT solutions and consumer products, as well as in real estate and insurance activities. So off to a convincing and strong start. Thank you all for being with us this morning and we'll now open the floor to questions. g***@bicworld.com. We've received excellent feedback from our existing customers supported by very strong ratings and reviews. And maybe one last quick question on the innovation. You mentioned that a lot of time during the call, is there anything we should expect in H2 and major innovation for any category in H2? So that's from the topline. Officer. H2, very clear, will grow. Please go ahead. 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. Le directeur gnral, Gonzalve, et le prsident, son pre, Bruno, contrlent 44 % du n 1 mondial (CA : 1,9 milliard) des biens de consommation : stylos, rasoirs, briquets. On a comparative basis, our net sales were up 12.2%, explained by a strong performance in Europe, North America and Latin America Lighter, as well as BIC Stationary business rebound across most geographies. The swift response and proactive actions taken meant we could manage almost all of these issues. 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. He served as Executive Vice President, Chief Operating Officer of BIC Group within the Company between January 2017 and May 2018. We will continue to focus on operating cash flow with cautious inventory management to protect our supply and delivery. And then as I mentioned before in Nicolas question, some of the electricity in. Thank you again for your question and see you soon. Rocketbook. Gonzalve Bich Gonzalve Bich Published Oct 3, 2018 . Cello Writing Instruments & Containers Pvt Ltd. President, Chief Operating Officer & Director. The second question on the margin overall. Lighter market evolving in value term? In short, our incremental focus on consumers is yielding results. 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. But you need to be mindful that with as we've communicated before Inkbox is an investment for growth and that will weigh on our 2022 adjusted EBIT margins. Hello, everyone. The continued success of EZ Reach and effective pricing actions. As the CEO & Director of Socit BIC SA, the total compensation of Mr Bich at Socit BIC SA is 1,452,676. This is a tremendous performance boosted by the groundbreaking Snoop and Martha advertising campaign, which clearly resonated with consumers. And the things I think about are Coloring with the relaunch of the intensity felt pen range, in some key markets, EZ Reach continued success, as well as the launch of BIC Ecolutions, Shaver line, more broadly in Europe, which is the Lighter with sustainability benefits, BIC Blade-Tech will continue to ramp up and you should see that happening over time, as we deliver more and more to customers. Brand support and operating and other expenses were higher by respective 0.9 points and 1.2 points, mainly driven by the net sales rebound versus last year. We expect all of our divisions to deliver organic growth this year in 2022, as we continue our momentum from last year. And in regards to price, Gonzalve gave quite a thorough breakdown. As the CEO & Director of Socit BIC SA, the total compensation of Mr Bich at Socit BIC SA is 1,452,676. Finally, leveraging what we've learned and achieved in our Invent the Future plan, we expect to generate an additional 15 million of annualized savings from further procurement initiatives and manufacturing efficiencies. Thanks very much for your questions. In Shaver, we will focus on revenue growth management to leverage price pack architecture and promotional effectiveness to ensure we deliver a portfolio to meet consumer needs in Europe and the US. Hello, and welcome to the BIC First Quarter 2022 Results Presentation. So those are how we respond there. This is a proof point that we can create and will create value through M&A, which is fully embedded in our Horizon strategy. The next question comes from the line of Marie Fort from Societe Generale. Which I will tackle in a second. So here we are, and so are the results. We expect material improvement in 2023, and as mentioned in January, Inkbox should be EBIT positive in 2024. In regards to the 100 million of impact for this year. Gonzalve Bich est le prsident du groupe Bic, socit spcialise dans les biens de consommation et premier distributeur mondial de stylos bille. En 1950, l'entreprise sempare du brevet du stylo bille et commercialise le Bic cristal. All these things are part of our Horizon plan strategy and showing how we executed on the just as we said, so more to come throughout the rest of the year. Inventories ended the period at 490 million. And our net cash position at the end of March of 2022 was 340.1 million. So we've looked at growth and we've looked at how e-commerce is thriving, let me now take a step back to look at sustainability from a product lens. 1 130 M With our eyes set firmly on the horizon, I'm convinced that we will achieve our growth ambition of sustainable and profitable mid-single-digit growth. This next slide summarizes the evolution of our net cash position between December 2020 and December of 2021. We've totally changed our approach to innovation, new technology and partnerships in a way that's yielding tangible results and promising opportunity set. The majority of them will happen before the end of the first half of the year. Ce quadragnaire, petit-fils du fondateur, dtient avec sa famille 46,3% du fabricant de stylos, papeterie, briquets et rasoirs (CA: 1,8milliard), qui sest fix de nouveaux objectifs de dveloppement durable. Yes, I can't even read my own handwriting. While remaining committed to our mission, providing everyday essentials that bring simplicity and joy at people's lives all around the world. I'll focus now on how we see this New Year shaping up from a market perspective, starting with our global market assumptions based on Euromonitor and internal estimates. There are no executives at Socit BIC SA getting paid more. So that's how you can think about phasing from first half to second. Gonzalve Marie Leon Bich. And probably could you help us also to monetize our margins in terms of phasing for all over the year? In 2012, he was named Deputy General Manager, responsible . Another question is about your margin. Excluding 2020 under absorption of fixed cost due to the COVID-19 pandemic and Rocketbook, the gross profit margin variance was flat versus last year. . We've reframed our historical approach by category, to include incremental, fast-growing adjacencies and made some active moves there in bringing in Rocketbook and Inkbox, as we build out new division. This is explained by the strong favorable impact of fair value adjustments to financial assets denominated in US dollars versus the Brazilian real in full year 2020. 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. And beyond 2022, how do you see the U.S. Can you be a bit more specific? 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. So the first one you asked about is about, price increases, and have we pass them all along? In Human Expression, we expect market share gains in the U.S. and solid growth in Latin America and India. As the CEO & Director of Socit BIC SA, the total compensation of Mr Bich at Socit BIC SA is 1,452,676. We also pursued our strategy to lean towards more added value-driven growth. How much digits represent yourself in Q2, and all the margin in this category have progressing today. The launch of BIC Click Soleil 5, which if you remember, is that the new female shave product to the sustainability benefit in recycled materials that we partnered with Avient to do them really pleased that we've been able to bring that to market. There's also international development, notably actually in Europe that's driving some sales expansion should continue to do that for the balance of the year and it's really the same story at Inkbox. Can we have an idea of how these impacts could be phased between H1 and H2, do you anticipate stronger impact in Q2, Q3, just to have an idea. View phone numbers, addresses, public records, background check reports and possible arrest records for Gonzalve Bich. Net income group share was 67.6 million as reported for Q1 of 2022 compared to 161.6 million for Q1 of 2021. 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. This is explained by the 2022 unfavorable impact of the fair value adjustments to financial assets denominated in U.S. dollar against the Brazilian real. The call will be hosted by Gonzalve Bich, Chief Executive Officer; and Chad Spooner, CFO. It offers ball and coloring felt pens, markers, stickers, sticky notes, leads, whiteboards, and correction tapes, as well as graphic, coloring, mechanical, and other pencils; reusable notebooks, smart pens, slate tablets, stylus for tablets, crayons, art and craft kits, erasers, temporary tattoo markers, refillable shavers, razors shave cream, body and face lotions, finger painting products, and watercolors; correction fluids, pens, and tapes; and gel ink, roller, and fineliner pens; and ball and gel pen, color, and mechanical refills. En 1945, la socit PPA (Porte-plume,. In 2021, we invested 75 million in CapEx. And the last question is about Coloring. And we could potentially have some new product announcements that Nicolas talked about or asked about a second ago, that would fuel 2023 and might even have a pipeline in December. Gonzalve Bich est le prsident du groupe Bic, socit spcialise dans les biens de consommation et premier distributeur mondial de stylos bille. We ended up with lower CapEx spend than initially anticipated due to supply chain issues which affected our ability to realize our initial investment plans. So that's what we'll see. It markets its products primarily under the BIC, BIC Kids, Cello, Lucky, RocketBook, Tipp-Ex, BIC Wite-Out, DJEEP, BIC Soleil, Us, MADE FOR YOU, BIC Evolution, and BodyMark brands through a range of channels, including retail mass-market distributors, traditional stores, and office product stationers, as well as an e-commerce site. Net cash was also impacted by investments in CapEx, as we invested 75 million during 2021. Gonzalve served as General Manager, Northern Europe and General Manager, Developing Markets for Bic. On an as-reported basis, net sales for full year 2020 totaled 1.832 billion, up 12.5% versus last year. We will sharpen our focus on consumer-centric innovations and drive commercial excellence even further. Okay. As we look at the 172.2 million of non-recurring items in 2021, it was mainly driven by 167.7 million net gain for the sale of our Clichy headquarters and 3.0 million net gain from the Pimaco divestiture. You've got on the second quarter because we understand that you would good visibility for the back-to-school and for the stationary division. Moreover, Mexico, South Africa, and India, which were hit hard by the pandemic are now bouncing back. Their technology will help increase the percentage of recycled material used in the handle of the upcoming refillable BIC Click Soleil 5 shaver. And Nicolas if I can jump back. This ends the review of Q1 of 2022 consolidated results. The first one you said at the beginning of the call that you will actively well reshuffle the portfolio of activity to accelerate the organic sales growth of the company. To your question about the U.S. The third highlight is the continued progress in our sustainability journey. Good morning, Charles. And we maintain our target of over 200 million of free cash flow. In addition, it sells pantyhoses, batteries, and shaving preps; and advertising and promotional products. Our 2022 is off to a strong start, powered by the continued implementation of our Horizon strategy. 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. We achieved our objective 50 million cost savings, thanks to improved efficiency of our commercial operations and global supply chain in 2021. 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. Full year 2021 Blade Excellence adjusted EBIT margin improved 1.9 points, thanks to manufacturing and raw material efficiencies and more efficient brand support, notably in the US where we successfully chose to improve the balance between promotional support visibility and profitability. Our consistent with our Horizon Plan, we successfully executed our RGM strategy, which is key in an inflationary market. as of January 2017. Okay. Thank you and good morning everyone. How do you see the profile for Q2 for Lighter and Shavers? We've reached close to 100% ACV and modern mass market channel and still have considerable opportunities in convenience stores. And when we disposed of PIMACO last year that was a perfect example. The first one in terms of price adjustment. And it kind of answers your second question which is, yes you should see us continue to do bolt-ons where they make sense. 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