Societe Bic Sa · EURONEXT:BB
Societe Bic Sa — BIC — Q4 2024 Earnings Presentation
34 slides from Societe Bic Sa's earnings presentation, Feb 19, 2025
Slide 1: BIC Q4 & FY 2024 Results Presentation
BIC Q4 & FY 2024 Results Presentation February 19, 2025
Slide 2: Disclaimer
Disclaimer This document contains forward-looking statements. Although BIC believes its estimates are based on reasonable assumptions, these statements are subject to numerous risks and uncertainties. A description of the risks borne by BIC appears in section Risks Management of BIC’s 2023 Universal
Slide 3: 2024 Key Takeaways and Achievements
Q4 & FY 2024 2024 Key Takeaways and Achievements Gonzalve Bich Chief Executive Officer 3
Slide 4: 2024 Key Takeaways
2024 Key Takeaways • Resilient net sales performance at +0.8%1 in a challenging trading Flame for Life environment, driven by solid commercial execution • Operational excellence delivering robust financial ratios: aEBIT margin at 15.6%, up 90 basis points year-on-year Blade aEPS growth for the 5
Slide 5: Tangle Teezer®: a Fast-Growing and Premium Detangling Haircare Brand
Tangle Teezer®: a Fast-Growing and Premium Detangling Haircare Brand Large & fast-growing €4.5bn total addressable market +10% CAGR1 >20% Omni-channel distribution model eCommerce from direct sales Comprehensive product range #1 share in the UK2 with strong brand recognition #4 share in the US2 Broa
Slide 6: A Comprehensive Product Range with a Global Footprint
A Comprehensive Product Range with a Global Footprint Diversified product range1 A truly global brand1 c.10% c.75% UK Core Detangling c.40% FY 2024 USA c.30% Europe Net Sales >€70m c.10% c.20% c.15% On-the-Go Rest of Styling, Blow-drying, World Pet Care & Others 1 2024 Net Sales 6
Slide 7: Delivering on BIC's Horizon Strategic Goals
Delivering on BIC’s Horizon Strategic Goals Revenue Growth Management Solid Commercial Execution achievements Strong distribution gains across multiple Portfolio streamlining with ~40% SKU channels in Europe and the US reduction since 2019, focusing on higher added-value products Core e-commerce gro
Slide 8: Continuous improvement of BIC's Supply Chain Initiatives
Continuous improvement of BIC’s Supply Chain Initiatives Manufacturing Regionalization Value engineering efficiencies Manufacturing of BIC’s markers Rebalancing product portfolio to Enhancing our end-to-end supply relocated to the Samer factory in maximize growth, cost and sustainability chain netwo
Slide 9: Progress on BIC's ESG Goals
Progress on BIC’s ESG Goals Writing the Future, Together 2024 commitments for 2025 Achievements Improving lives through education Estimated number of children with improved learning 250 million children between conditions: 2018 and 2025, globally, estimated 210 million (cumulative)1 Acting against c
Slide 10: Sustained Shareholder Remuneration
Sustained Shareholder Remuneration 218 in million euros 210 Ordinary Dividend1 €3.08 for 2024 fiscal year 59 60 167 134 40 40 117 120 40 2024 Payout 7 39 50% ratio2 39 119 127 110 110 95 81 up to 2025 Share €40m buyback program 2020 2021 2022 2023 2024 2025e Ordinary Exceptional Share Exceptional di
Slide 11: Operational and Consolidated Results
Q4 & FY 2024 Operational and Consolidated Results Chad Spooner Chief Financial Officer 11
Slide 12: Q4 & FY 2024 Key Financial Figures
Q4 & FY 2024 Key Financial Figures Net Sales Adjusted1 EBIT Adjusted1 EPS Free Cash Flow2 €2,197m €343m €6.15 €271m FY 2024 +0.8% at constant aEBIT Margin Change as reported Net Cash Position3 currency excl. Argentina 15.6% +8% €189m +4.4% at constant aEBIT Margin Change as reported Net Cash Positio
Slide 13: 2024 Category Performance Snapshot
2024 Category Performance Snapshot Human Expression Flame For Life Blade Excellence €814m €810m €543m Net Sales Net Sales Net Sales +0.7%1 (1.8)%1 +5.0%1 €62m aEBIT2 €269m aEBIT2 €101m aEBIT2 7.6% margin 33.3% margin 18.5% margin Distribution gains in Double digit growth in Growth of premium Robust
Slide 14: Net Sales Evolution
Net Sales Evolution in million euros 2,263 17.6 50.6 33.7 2,197 +0.8 pts (2.2) pts FY (1.5) pts1 2024 FY 2023 Net Sales Change on a comparative FX impact Argentina FY 2024 Net Sales as reported basis as reported 526 22.0 13.3 17.3 518 +4.4 pts (2.5) pts (3.5) pts2 Q4 2024 Q4 2023 Net Sales Change on
Slide 15: Key Components of change in adjusted EBIT Margin
1 Key Components of change in adjusted EBIT Margin +0.4 pts +0.5 pts 0.0 pts 15.6% 14.7% FY 2024 FY 2023 Adjusted EBIT margin Change in Gross Profit 2 Decrease in Brand Support Operating and Other FY 2024 Adjusted EBIT margin Expenses 3 +0.4 pts +0.9 pts (1.4) pts 13.8% 13.7% Q4 2024 Q4 2023 Adjuste
Slide 16: FY 2024 Profit & Loss Account
FY 2024 Profit & Loss Account From adjusted EBIT to Net Income in million euros FY 2023 FY 2024 FY 2024 non-recurring items: €(7.8)m related to special bonus2 Adjusted EBIT1 333.1 343.1 €(5.8)m related to restructuring expenses €(15.6)m related to Greece VPPA and French PPA3 Non-recurring items (12.
Slide 17: Working Capital
Working Capital in million euros Receivables in Days1 8 560 32 556 12 3 61 57 59 2 24 29 Dec-22 Dec-23 Dec-24 Inventory in Days2 186 183 175 Dec-23 Net Trade & Trade & Other Investing Acquisition FX & others Dec-24 Inventory other other receivables Activites (Tangle Dec-22 Dec-23 Dec-24 Receivables
Slide 18: CAPEX and Depreciation & Amortization
CAPEX and Depreciation & Amortization in million euros Other Human (including IT) Expression 23% 25% 99 105 101 96 96 87 FY 2024 CAPEX: €87m Blade FY 2022 FY 2023 FY 2024 Excellence 21% Flame For Life CAPEX Depreciation & Amortization 31% 18
Slide 19: FY 2024 Net Cash Position
FY 2024 Net Cash Position in million euros 113 87 471 178 56 385 Net Cash from Operating Activities €358m 201 Free Cash Flow €271m 189 32 2 December 2023 Operating cash Change in CAPEX Dividends paid Share buyback Acquisition Others December 2024 Net Cash flow working capital (Tangle Teezer) Net Cas
Slide 20: Looking ahead into 2025
Q4 & FY 2024 Looking ahead into 2025 Gonzalve Bich Chief Executive Officer 20
Slide 21: 2025 Strategic Priorities
2025 Strategic Priorities Solid commercial execution Supply Chain initiatives • Continued market expansion across multiple • Enhanced regionalization channels • Continued manufacturing efficiencies • Impactful advertising campaigns • Further value engineering Consumer-centric innovation Unlocking ne
Slide 22: 2025 Outlook
2025 Outlook1 Full Year Net Adjusted EBIT margin expected Free Cash Flow Sales expected to to be at the same expected to be grow between level as 2024, at above €240 +4% and +6% at 15.6%, above BIC’s million constant currency Horizon target 1This outlook does not reflect possible impacts from the fl
Slide 23: Appendix
Appendix 24
Slide 24: FY 2024 Net Sales Breakdown
FY 2024 Net Sales Breakdown By Category By Geography Human Expression 37% 37% 32% North America Europe Flame for Life 37% Blade Excellence 25% 19% Latin America 8% Middle 4% East & Africa Asia & Oceania Other (including India) products 1% 25
Slide 25: FY 2024 Net Sales Main Exchange Rate Evolution vs Euro
FY 2024 Net Sales Main Exchange Rate Evolution vs Euro Average rates % of sales % of change FY 2023 FY 2024 US Dollar 37% 1.08 1.08 0.0% Brazilian Real 9% 5.40 5.83 -7.3% Mexican Peso 6% 19.16 19.81 -3.2% 1 Argentine Peso 2% 893.39 1,070.07 -16.5% Canadian Dollar 3% 1.46 1.48 -1.5% Australian Dollar
Slide 26: Group Quarterly Figures
Group Quarterly Figures In million euros Q1 22 Q2 22 Q3 22 Q4 22 FY 22 Q1 23 Q2 23 Q3 23 Q4 23 FY 23 Q1 24 Q2 24 Q3 24 Q4 24 FY 24 Net Sales 515.7 611.4 580.1 526.7 2,233.9 538.7 638.2 560.3 526.1 2,263.3 521.7 617.8 539.7 517.5 2,196.6 YoY actual changes +25.5% +20.9% +21.3% +20.6% +21.9% +4.5% +4.
Slide 27: Group Quarterly Figures by Geography
Group Quarterly Figures by Geography In million euros Q1 22 Q2 22 Q3 22 Q4 22 FY 22 Q1 23 Q2 23 Q3 23 Q4 23 FY 23 Q1 24 Q2 24 Q3 24 Q4 24 FY 24 Europe Net Sales 142.8 185.1 169.6 139.1 636.7 151.5 202.3 170.7 141.3 665.9 160.3 212.4 175.2 149.9 697.8 YoY actual changes +14.0% +11.0% +9.1% +13.0% +11
Slide 28: Human Expression Quarterly Figures
Human Expression Quarterly Figures In million euros Q1 22 Q2 22 Q3 22 Q4 22 FY 22 Q1 23 Q2 23 Q3 23 Q4 23 FY 23 Q1 24 Q2 24 Q3 24 Q4 24 FY 24 Net Sales 168.3 269.7 225.2 175.6 838.8 177.5 282.9 214.7 170.9 845.9 173.8 278.7 199.6 161.7 813.9 YoY actual changes +28.4% +33.4% +14.1% +14.7% +22.7% +5.4
Slide 29: Flame For Life Quarterly Figures
Flame For Life Quarterly Figures In million euros Q1 22 Q2 22 Q3 22 Q4 22 FY 22 Q1 23 Q2 23 Q3 23 Q4 23 FY 23 Q1 24 Q2 24 Q3 24 Q4 24 FY 24 Net Sales 226.4 209.7 216.0 219.6 871.6 228.5 205.8 200.1 217.1 851.5 207.1 195.0 191.5 216.2 809.8 YoY actual changes +29.7% +8.7% +26.5% +21.7% +21.3% +0.9% (
Slide 30: Blade Excellence Quarterly Figures
Blade Excellence Quarterly Figures In million euros Q1 22 Q2 22 Q3 22 Q4 22 FY 22 Q1 23 Q2 23 Q3 23 Q4 23 FY 23 Q1 24 Q2 24 Q3 24 Q4 24 FY 24 Net Sales 113.5 126.8 132.6 124.0 497.0 124.7 143.6 139.1 129.4 536.8 132.5 138.5 142.0 130.3 543.3 YoY actual changes +17.7% +22.0% +26.8% +28.9% +23.9% +9.9
Slide 31: Other Products Quarterly Figures
Other Products Quarterly Figures In million euros Q1 22 Q2 22 Q3 22 Q4 22 FY 22 Q1 23 Q2 23 Q3 23 Q4 23 FY 23 Q1 24 Q2 24 Q3 24 Q4 24 FY 24 Net Sales 7.6 5.2 6.3 7.5 26.6 8.1 5.9 6.5 8.6 29.1 8.3 5.6 6.5 9.4 29.7 YoY actual changes (16.5) % (21.1) % +11.5% +5.9% (6.4) % +6.8% +13.2% +2.9% +14.6% +9.
Slide 32: Unallocated Costs Quarterly Figures
Unallocated Costs Quarterly Figures In million euros Q1 22 Q2 22 Q3 22 Q4 22 FY 22 Q1 23 Q2 23 Q3 23 Q4 23 FY 23 Q1 24 Q2 24 Q3 24 Q4 24 FY 24 EBIT (20.3) (18.8) (21.1) (22.8) (83.0) (21.2) (21.1) (24.1) (19.1) (85.5) (23.2) (21.6) (16.7) (23.6) (85.1) Adjusted EBIT1 (20.3) (18.8) (21.1) (22.8) (83.
Slide 33: Capital and Voting Rights
Capital and Voting Rights As of December 31, 2024, the total number of issued shares of Société BIC is 41,621,162 shares, representing: • 59,846,577 voting rights • 59,417,857 voting rights excluding shares without voting rights Total number of treasury shares held at the end of December 2024: 428,7
Slide 34: Glossary
Glossary • Organic change or Comparative basis: At constant currencies and constant perimeter. Figures at constant perimeter exclude the impact of acquisitions and/or disposals that occurred during the current year and/or during the previous year, until their anniversary date. All Net Sales category