Gonzalve Bich Director and Chief Executive Officer CHAD SPOONER Chief Finance Officer Sara LaPorta Stratgie et Dveloppement Business CHESTER TWIGG Group Commercial Officer ELIZABETH MAUL Group Insights, Innovation & Sustainability Officer GARY HORSFIELD Group Supply Chain Officer FRANOIS CLMENT-GRANDCOURT Group Lighters General Manager First question is on the phasing for 2022. Net finance revenue was negative 2.6 million compared to a positive 0.8 million for the same period in 2021. Our hearts go out to everyone affected. 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. Do you see there is a catch-up essentially in Q2 or has it been done in Q1? 2021 was year one, of our virgin plastics reduction road map. Since the launch of the plan, we acquired two fast-growing companies Rocketbook and Inkbox, in addition to Djeep bought in June of 2020. Her single "Hi Bich" was featured on the Billboard Hot 100 chart in 2018. If anything, I think that they're an interesting way to create dynamism in a portfolio. Adjusted EBIT for Q1 2022 was 101.9 million compared to 60.5 million last year, with an adjusted EBIT margin of 19.8% this year versus 14.7% last year. 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. So manufacturing efficiencies and procurement savings. Now, turning to our Flame For Life division, net sales were 226.4 million up 22.9% at constant currencies, and adjusted EBIT was 87.1 million with a 38.5% margin. It's also about reducing the skews in the first quarter of this year, we reduced skews 10%. So shall we expect a sizable M&A transaction, or are you going to continue to focus on bolt-on acquisitions? Inkbox will contribute positively to gross profit. So off to a convincing and strong start. Read More. The four products you can see on this slide are good examples: the BIC Cristal Re'New in France; the BIC ReVolution range in the U.S., the new range of Hybrid shavers; and our new BAMBOO razor, which launched successfully online and offline in Sweden during the second quarter. So as a reminder, [Operator Instructions] we have no further questions in the queue, so I will hand the call back to your host for some closing remarks. Lighter market. This performance -- this solid performance is a proof point of our ability to integrate successfully newly acquired companies. 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. While remaining committed to our mission, providing everyday essentials that bring simplicity and joy at people's lives all around the world. Inventories ended the period at 490 million. For the duration of the call, your lines will be on listen-only. Socit BIC SA manufactures and sells stationery, lighter, shaver, and other products in Europe, North and Latin America, the Middle East and Africa, the Oceania, and Asia. Raw material and import freight costs will remain at very high levels. BIC IN 2018 -KEY TAKEAWAYS . Net sales for the full net sales were 515.7 million up 20.4% at constant currency. 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. L'ONG Oxfam accuse les milliardaires (et notamment 10 Franais parmi eux) d'avoir profit de la crise du Covid pour s'enrichir. Q1 2022 income before tax was 95.2 million with 29.0% tax rate compared to 228.2 million in 2021. As I said in my introduction, Rocketbook performance was outstanding, with a 55% growth rate in 2021. And today, it represents about 7% of our total stationery sales in the first quarter. Et dans ce duel, il n'est pas vraiment question desoldes L'intrigant htel l'abandon de Vincent Bollor dans le Finistre. The Investor Relations team remains at your disposal to answer any follow-up questions. What impact have you factored in your guidance for 2022 for those two items? Second, to grow in all regions. 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. Updating coloring. Presently, Gonzalve Marie Leon Bich is Chief Executive Officer & Executive Director at Socit BIC SA and Chairman of BIC International Development SAS, Chief Executive Officer of BIC USA, Inc. and President, Chief Operating Officer & Director at BIC International Co. (which are all subsidiaries of Socit BIC SA). Gonzalve Bich, BIC's chief executive officer, said Inkbox's temporary tattoos and markers "empower individuals to be their continually-evolving, fluid selves." "Consumers today crave newness, desire creative freedom and embody authenticity," Bich said in a statement. Now, as I begin, I want to formally recognize the outstanding work of our teams in 2021 across the world and despite the ongoing turbulent trading environment, they worked relentlessly to execute our Horizon Plan and achieve our 2021 objectives. En 1945, la socit PPA (Porte-plume, Porte-mines et Accessoires) est cre par Marcel Bich. Now, to your point, we'll also grow in Human Expression. So that's from the topline. This was partially offset by higher raw materials and air and sea freight import costs, as well as an increase in brand support, notably driven by BIC EZ Reach advertising campaign in the U.S. Lastly, and Blade Excellence, net sales were 113.5 million up 12.5% at constant currencies, and Adjusted EBIT was 25.4 million with a 22.4% margin. The perimeter impact adjustments are mainly driven by the acquisitions of Rocketbook 3.4 points, partially offset by the Pimaco divestiture and Asian business closures. Reaching the targets a year early in the midst of the pandemic and continued volatile trading conditions is a testament to the strength of our model and an outstanding achievement by the teams. He served as Executive Vice President, Chief Operating Officer of BIC Group within the Company between January 2017 and May 2018. The second question on the margin overall. And good afternoon, everyone. Thanks. I'll now give the floor to Chad, who'll take us through our operational and financial performance in more detail. And we should continue to see the company do that. In short, our incremental focus on consumers is yielding results. But the main, the largest quarter will be Q2, Q3. Yet at this time last year, it was inconceivable that growth rates would more than double. As Gonzalve mentioned earlier, we successfully reached our Invent the Future plan operational and financial targets one year ahead of when we committed to. This ends our presentation for today, and we're now ready to answer your questions. Net income group share was 314.2 million as reported for 2021, compared to 93.7 million for 2020. We've totally changed our approach to innovation, new technology and partnerships in a way that's yielding tangible results and promising opportunity set. As we make progress in our Horizon transformation journey, 26% of Human Expression net sales came from creative and digital expression segments. 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. Adjusted earnings per share were 1.60 up 67% versus last year. We received cash proceeds of 132.5 million 127.9 million for the sale of our headquarter building in Clichy and 4.6 million for the Pimaco divestiture. Among the drivers of the working capital were, the increase in inventories of 97 million. In 2012, he was named Deputy General Manager, responsible . In the non-refillable segment our added-value shavers represented an impressive 70% of the total division sales, confirming the relevance of our premiumization strategy. This ends the review of Q1 of 2022 consolidated results. As I said, acquisitions is a key pillar of Horizon. Things like Lucky Stationery in Nigeria, the business that we did in Kenya a few years ago or even Djeep which was really a bolt-on because Djeep compared to the total BIC business is rather small. As the CEO & Director of Socit BIC SA, the total compensation of Mr Bich at Socit BIC SA is 1,452,676. And I think with that level of detail and clarity, you can back into an approximation of how price impacts the topline. In less than 24 months, they transformed their market approach. Gonzalve? Welcome everyone and thank you for joining us this morning. He added a question in U.S. And do you expect to fully offset that -- to fully offset that increase through the adjustment you mentioned before? And a little under 24 months, we've assembled an outstanding management team. Officer. Gonzalve Marie Leon Bich. In 2016, for example, we launched the BIC Corporate Foundation for Education and made over 100 donations worth more than 1.5 million. So do you plan to strengthen the deal firm? Entre Pinault (Kering) et Arnault (LVMH), l'trange Monopoly parisien. industrie, Entreprise 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. However, in shave, online sales grew more than 50%, notably driven by North America. Please go ahead. Let me pause here to highlight the incredible job of our Brazilian team. Net cash was also impacted by investments in CapEx, as we invested 75 million during 2021. La famille fondatrice, incarne par Gonzalve (DG) et son pre Bruno (prsident), contrle 45% du fabricant de stylos bille, rasoirs jetables et briquets (CA: 1,9 milliard), confront la baisse de ses marchs. The second half will be on the low end of our net sales range. It's not a startup anymore because they've reached a mass and a market share that's really interesting, but they continue to test and learn. Just one -- first question is how do you anticipate the phasing of your turnover in 2022 particularly given the high basis comps during the first half? On that note, here's Chad who will now -- who will step in now to present our operational and consolidated financial results. So welcome to BIC First Quarter 2022 results presentation. So you mentioned the minus 8 million and minus 13 million for 2021. First, to grow in all markets. Thank you again for your question and see you soon. And of course, the continued ramp up of our B2B business Bic Blade-Tech. And beyond 2022, how do you see the U.S. In addition, to our successful core products added value items such as, EZ Reach and Djeep will continue to grow and we plan to launch new decorated additions for both products this year. So I've got three questions. With that in mind, let's take a look at a snapshot of our financial performance in 2021. Moving now to shareholder remuneration. The first one in terms of price adjustment. This increase was driven by net sales leverage and favorable fixed cost absorption, partially offset by the increase in raw material and freight costs, as well as Inkbox 's investment in growth. In Europe, net sales grew double-digit, driven by price increases, the continued recovery in traditional channels, and the success of added-value products, such as Djeep and sleeve lighters. My second question is about your 100 million impact from raw material for the year. Lighters should decrease low-to-single digit. Adjusted earnings per share were 4.29 up 21% versus last year. But when you listed the price hikes that you intend to pass through in 2022, the line was not great. Excluding Inkbox, the gross profit margin increased by 0.1 points. Officer. And finally, well the line was not great, I don't know if it was from my side or on your side. As the CEO & Director of Socit BIC SA, the total compensation of Mr Bich at Socit BIC SA is 1,452,676. And if you go to the website, you dig around, you're going to find a lot of different things. Next question comes from the line of Marie Fort from Societe Generale. Please go ahead. Vous vous tes inscrit pour recevoir lactualit en direct, quest-ce qui vous intresse? But again, let me come back to we acquired Djeep because it had critical capabilities that make the total bigger, stronger, faster, better. Okay. Adjusted net income group share for Q1 2022 was 71.0 million compared to 43.0 million last year for the same period. Net sales performance was driven by U.S. lighters outstanding results. So what we like to say is all-in-all, we expect to protect our gross margins including the positive impact from consolidating Inkbox because Inkbox has a very strong gross profit margin. Adjusted EBIT was 57.4 million with a 14.3% margin. Is this happening to you frequently? Our next major milestone within reach is attaining a 15th share of this important pillar of horizon. Lighter industry. Through this, we continue to enter untapped into rich areas for growth, fueling our ascension into added value segments. The recent acquisition of Inkbox, the leading semi-permanent tattoo direct-to-consumer brand, will strengthen our position in e-commerce further and help build our social media capabilities. Adjusted EBIT was 270.2 million with a 37.6% margin. [Operator Instructions] And the first question comes from the line of Nicolas Langlet from BNP Paribas. We had stimulus payments in December of 2020 and then in January of '21, and in March of 21, all which had impact in discretionary spending especially in certain channels. We confirmed our conviction that it's exciting. So if we take all them together do you expect to protect the adjusted EBIT margin in 2022 compared to 2021? And then as I mentioned before in Nicolas question, some of the electricity in. From a mid-term perspective I think that we could think about BIC Blade-Tech accounting for between one-fourth and one-third of total Blade Excellence sales. Perfect. I'll take those. And then just a few short weeks ago, after having launched BodyMark over four years ago, which was a great initial learning step in SKIN CREATIVE, we confirmed our understanding of the space. Would you say that Q4, 2021 margin are the lowest due to the absence of price increase and soft organic growth? We will then open to your questions. So we will see the remainder of them happening throughout the rest of the year. Last updated: 1 March 2023 at 11:00am EST. Sign up in seconds, it's free! Rocketbook. This robust performance was fueled by efficient digital brand support investment, driven by a very simple idea, that a BIC seen is a BIC sold, regardless of whether it's online or offline. Will be on the Billboard Hot 100 chart in 2018 the skews in first! Du Covid pour s'enrichir share were 1.60 up 67 % versus last year for the full net sales came creative! 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