The company reported a strong year, in line with their 2025 strategic goals with a net sales growth of 9.2% in FY23. This growth was driven by Human Expression, Flame for Life, and Blade Excellence divisions.
The adjusted EBIT growth was +6.9%, with a 14.7% margin, driven by improved gross profit margins. The company generated €248.7 million in free cash flow and €5.70 in adjusted EPS. The company also proposed an Ordinary Dividend of €120 million for 2023, an Extraordinary Dividend of €1.42 per share, and a Share Buyback program.
Human Expression: +10.2% net sales growth at CC driven by distribution gains across European countries, strong commercial execution in Latin America and double-digit growth in Middle East and Africa.
Flame for Life: +3.3% net sales growth at CC driven by distribution expansion and the strong performance of added-value products in Europe, Latin America, the Middle East, and Africa.
Blade Excellence: +17.8% net sales growth at CC fueled by double-digit growth in Europe, Latin America, the Middle East and Africa, along with market share gains in all key regions and strong performance of both added-value and new products.
2024 Outlook
BIC’s Net Sales are expected to grow between +5% and +7% in 2024, driven by volumes, price, and mix. The company is also expected to see a slight improvement in adjusted EBIT margin due to operating leverage.
BIC’s CEO, Gonzalve Bich, praised the company’s solid execution in 2023, driven by Horizon initiatives. Despite facing global macroeconomic challenges, BIC’s focus on operational excellence led to a gross profit improvement of 240 basis points. The company’s Board of Directors recommended a total dividend of €4.27 per share.
Source: Global News Wire
Source: Yahoo Finance
Source: BIC
