Societe Bic Sa · EURONEXT:BB
Societe Bic Sa — BIC — Investor Presentation (May 2025)
64 slides from Societe Bic Sa's investor presentation, May 21, 2025
Slide 1: Investor Presentation
Investor Presentation May 2025
Slide 2: BIC at a Glance
BIC at a Glance A consumer-centric brand, meeting rapidly changing needs A world leader in creative • 27 million BIC products bought daily, driven by value and strong brand expression, lighters and shavers • BIC is successfully expanding into new segments to meet new needs One of the most recognized
Slide 3: BIC Key Financial Figures in 2024
BIC Key Financial Figures in 2024 15.6% >13,000 €2,197m €343m Adjusted EBIT Team members Net Sales Adjusted EBIT1 Margin1 €6.15 €271m €189m €218m Shareholder Adjusted EPS1 Free Cash Flow2 Net Cash Position Return3 2024 Key Figures 2 Before acquisitions and disposals 1 See glossary in appendix 3 Shar
Slide 4: BIC's Horizon Strategic Plan
BIC’s Horizon Strategic Plan Expand total Leverage addressable Capitalizing on innovation BIC’s unique markets in fast- capabilities and growing segments, identity, consumer- global centric brands and and apply enhanced manufacturing commercial market reach excellence execution The Horizon strategic
Slide 5: BIC's Capital Allocation Policy
BIC’s Capital Allocation Policy Sustainable Growth and Shareholder Return 1. 2. 3. 4. Investments Targeted Ordinary Share Into operations Acquisitions Dividend Buyback (CAPEX) On Payout Regular Approx. average ratio in the program €100m per approx. range of (up to year €100m 40-50% of €40m) per year
Slide 6: 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 7: 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 8: 2025 Outlook
2025 Outlook1 Full Year Net Adjusted Free Cash Flow Sales expected to EBIT margin expected to be grow between expected to be above €240 0% and 3% at around 15.0% million constant currency 1 This outlook does not reflect possible impacts from the fluid trading environment, particularly changes in US
Slide 9: BIC in a nutshell
BIC in a nutshell
Slide 10: In tune with the times
In tune with the times Launch of the BIC® Cristal, the first high quality ballpoint pen International expansion in Europe, Latin Acquisition of Acquisition of Acquisition of America, Africa First BIC® First BIC® One- graphite, correction correction and North America lighter piece shaver coloring and
Slide 11: 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% 11
Slide 12: BIC's Global Manufacturing Footprint
BIC’s Global Manufacturing Footprint1 23 factories across 5 continents Human Expression Flame For Life Blade Excellence Advertising & Promotional produtcs >90% of net sales are from products 1as of December 31, 2024 manufactured in BIC’s own factories 12
Slide 13: Worldwide Leadership Positions
Worldwide Leadership Positions Human Expression Flame For Life Blade Excellence #2 in total Stationery (~9% market share in value1) #2 in One-Piece Shavers #1 in branded Lighters (~24% market share in value1) #1 in Ball Pens (<50% market share in value1) #1 Correction #3 in total wet shave market (~
Slide 14: Human Expression
Human Expression BIC’s leadership position in Stationery BIC Global Rank: #2 with ~9% market share Europe North America #1 #2 #1 #2 >10% <10% <30% >10% Latin America #1 #2 >20% ~10% Asia & Oceania Middle East (including India) and Africa 2024 net sales #1 #2 #1 ~10% #8 <2% ~10% <5% €814m +2.9% at CC
Slide 15: Human Expression: Overview of BIC's markets
Human Expression: Overview of BIC’s markets Helping consumers learn, create, share and express themselves Writing & Coloring Arts & Skin Digital Instruments Crafts Creative Expression Total Addressable Markets €20.2bn €11.6bn €7.7bn €6.6bn “Do it Yourself” Projection +5.8%1 +4.4%1 expected to grow t
Slide 16: Core Writing Instruments: from classic to added-value products
Core Writing Instruments: from classic to added- value products France – Modern Mass Market – in € per unit1 4.00 2.94 2.41 1.91 1.51 1.56 1.21 0.30 0.66 Cristal medium M10 Illusion 4C medium Atlantis Gelocity Quick 4C Shine 4C Velours Cristal Renew dry with refills 1 as of February 2025 16
Slide 17: Flame For Life
Flame For Life BIC’s leadership position in Lighters BIC Global Rank: #1 with <50% market share1 Europe North America #1 >30% >65% Latin America #1 >60% Middle East and Africa Asia & Oceania 2024 net sales <10% (including India) €810m <10% (0.9)% at CC1 Source: Market share in value excluding Asia,
Slide 18: Flame for Life: BIC's addressable markets for Flames
Flame for Life: BIC’s addressable markets for Flames Providing safe and affordable flames for all lighting occasions Tobacco Selected Usages Non-tobacco Usages Candles Barbecues Gas oven Total Addressable $7.1bn1 $6.8bn2 $6.4bn3 More than 2/3 of Markets Developed and Developing countries households
Slide 19: Flame for Life: Breakdown of Flame Usages
Flame for Life: Breakdown of Flame Usages United States Brazil 20% 22% 34% 8% 17% 55% 15% 29% Smoking Candles & incense Barbecue, gas stove and gas oven Others (campfire, chimney, etc.) Source: Ipsos / U&A (Usage & Attitudes) study 2021 19
Slide 20: Flame for Life: A full range of lighters towards a more value-added business model
Flame for Life: A full range of lighters towards a more value-added business model 350 300 250 Index 100 vs J6/J261 200 200 150 120 110 100 95 80 J5/J25 J5/J25 J6/J26 J6/J26 J6/J26 J38W DJEEP U140 J6/J26 U110 U160 STANDARD SLEEVE STANDARD SLEEVE LICENCE EZ REACH MEGALIGHTER PERSONALIZED MEGALIGHTER
Slide 21: Blade Excellence
Blade Excellence BIC’s leadership position in Shavers BIC Global Rank: #3 in total wet shave with ~7% market share1 #2 in One-Piece Shavers with ~24% market share North America Europe #1 #3 #1 #3 >50% <10% >60% ~6% Latin America #1 #2 >70% >10% Middle East and Africa Asia & Oceania 2024 net sales #1
Slide 22: Blade Excellence: BIC addressable markets
Blade Excellence: BIC addressable markets Total Wet Breakdown Shave market By Segments Double Edge Total Addressable €12.8bn 1% Markets One Piece Projection +4.6% 39% CAGR 2023-2027 Refillable 60% Growth Drivers Hygiene Beauty / Style Care/ premiumization Brands Source: Euromonitor 2023 22
Slide 23: Snapshot of Wet Shave Market where BIC operates
Snapshot of Wet Shave Market where BIC operates BIC Value for Money products (Walmart US – Price per unit - 2025) Men Women Venus Extra Smooth 5 $4.74 $4.99 Sensor 5 Venus Extra Smooth 5 $4.74 $2.99 BIC Flex 5 Venus Miami Sunrise 5 $4.74 Venuse Extra Smooth 5 $4.37 $2.17 Mach 3 Venus Comfort Glide 3
Slide 24: B2B business offering shaving solutions to other brands
B2B business offering shaving solutions to other brands, strongly correlated to overall business environment Offering a large variety of Aimed at leveraging: customizable products: • Components • BIC's leadership (like cutting-edge blade heads position and a diverse range of razor handles) • BIC’s M
Slide 25: The Tangle Teezer story
the TANGLE’ TEEZER story
Slide 26: 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 27: 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 27
Slide 28: High Value Creation Potential
High Value Creation Potential Product portfolio addressing relevant consumer needs and diverse hair types through simplicity of design for daily use Tapping into growth in the personal grooming market, an established and fast-growing category Unique expertly designed products supported by a strong p
Slide 29: Operational and Consolidated Results FY 2024
Operational and Consolidated Results FY 2024
Slide 30: 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 31: 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 32: 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 33: 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 34: 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 35: 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 36: 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 37: 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 38: 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 39: 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% 39
Slide 40: 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 41: Net Sales Performance Q1 2025
Net Sales Performance Q1 2025
Slide 42: First Quarter 2025 Key Takeaways
First Quarter 2025 Key Takeaways • Deteriorating trading environment in North America, leading to lower consumption trends • Tough comparison basis across the rest of the world, which grew double-digits in Q1 2024 • BIC focused on execution of its Horizon strategy o Ongoing commercial execution and
Slide 43: Q1 2025 Net Sales Evolution
Q1 2025 Net Sales Evolution Net Sales (7.0)% (10.9)% €478m at CC1 at CB2 in million euros 522 57 7 20 478 (10.9) pts (1.3) pts +3.9 pts Q1 2024 Net Sales Change on a FX impact Perimeter impact Q1 2025 Net Sales as reported comparative basis (Tangle Teezer) as reported 1 on a constant currency basis
Slide 44: Corporate Social Responsibility & Sustainable Development
Corporate Social Responsibility & Sustainable Development
Slide 45: BIC's Sustainable Development Journey
BIC’s Sustainable Development Journey 2009 Became first stationery manufacturer to 2018 1994 receive the “NF 2016 Launched the 2022 Conducted Environnement” Created the Writing the Announced our first life (NF400 Writing BIC Future, greenhouse gas cycle product Instruments) Corporate Together emissi
Slide 46: BIC's Long-lasting Products with Low Environmental Impact
BIC’s Long-lasting Products 13 with Low Environmental Impact Up to 13 shaves with a BIC® Flex 5 shaver 3km Up to 3 kilometers of writing for a BIC® Cristal®1 3,000 17 Up to 3,000 flagship products in the flames for a BIC® range have earned BIC® Maxi lighter the NF Environnement ecolabel BIC® Ecoluti
Slide 47: BIC's ESG Program and Objectives
BIC’s ESG Program and Objectives1 85% 81% BIC’s Greenhouse Gas (GHG) Emission reduction targets of all consumer plastic packaging is reusable, recyclable, or compostable of BIC sites with zero lost-time incident for 20302 Target: zero accidents across all operations Target: reach 100% reus., recycl.
Slide 48: Detailed Sustainability targets
Detailed Sustainability targets We have set a number of targets to help us achieve our sustainability commitments. The below table provides a snapshot of our progress towards these targets. Baseline Target Our Commitments Target 2024 Actual Result vs. Target Year Year 100% of cardboard packaging fro
Slide 49: BIC's Global Memberships and ESG Ratings
BIC’s Global Memberships and ESG Ratings1 CDP Score: • “B for Climate” UN Global Compact MSCI Rating: • “AAA” French Business Climate Pledge ISS ESG Corporate Rating: member • “C+” S&P Global ESG Score: • ”48” 1 Updated as of February 2025 49
Slide 50: Governance
Governance
Slide 51: A Family-Controlled Company with Solid Corporate Governance
A Family-Controlled Company with Solid Corporate Governance Shareholding Executive Structure (Dec. 2024) Committee (Feb. 2025) BICH 31% 17% Family Société Direct Board of holding Directors (May 2025) M.B.D. Free Float 51% 10 30% Members Women Treasury 12 40% 1% Shares Directors Independents1 5 Natio
Slide 52: Board of Directors (as of May 2025)
Board of Directors (as of May 2025) Committees Directors Nominations, Governance Independent and CSR director Remuneration Director representing Audit the employees Edouard Bich Gonzalve Bich Non-Executive Chair Chief Executive Officer Timothée Bich Marie-Aimée Carole Callebaut Sébastien Drecq Esthe
Slide 53: Executive Committee (as of February 2025)
Executive Committee (as of February 2025) Gonzalve Bich David Cabero François Clément-Grandcourt Gary Horsfield Chief Executive Officer Group Category Leader, General Manager, Group Lighter Group Supply Chain Officer Stationery Group Category Leader, Blade Excellence Sara LaPorta Alexandra Malak Jon
Slide 54: Appendices
Appendices
Slide 55: Group Quarterly Figures
Group Quarterly Figures In million euros Q1 23 Q2 23 Q3 23 Q4 23 FY 23 Q1 24 Q2 24 Q3 24 Q4 24 FY 24 Q1 25 Net Sales 538.7 638.2 560.3 526.1 2,263.3 521.7 617.8 539.7 517.5 2,196.6 478.4 YoY change as reported +4.5% +4.4% (3.4) % (0.1) % +1.3% (3.2) % (3.2) % (3.7) % (1.6) % (2.9) % (8.3) % YoY chan
Slide 56: Group Quarterly Figures by Geography
Group Quarterly Figures by Geography In million euros Q1 23 Q2 23 Q3 23 Q4 23 FY 23 Q1 24 Q2 24 Q3 24 Q4 24 FY 24 Q1 25 Europe Net Sales 151.5 202.3 170.7 141.3 665.9 160.3 212.4 175.2 149.9 697.8 167.8 YoY change as reported +6.1% +9.3% +0.6% +1.6% +4.6% +5.8% +5.0% +2.6% +6.0% +4.8% +4.7% YoY chan
Slide 57: Human Expression Quarterly Figures
Human Expression Quarterly Figures In million euros Q1 23 Q2 23 Q3 23 Q4 23 FY 23 Q1 24 Q2 24 Q3 24 Q4 24 FY 24 Q1 25 Net Sales 177.5 282.9 214.7 170.9 845.9 173.8 278.7 199.6 161.7 813.9 153.1 YoY change as reported +5.4% +4.9% (4.7) % (2.7) % +0.8% (2.0) % (1.5) % (7.0) % (5.4) % (3.8) % (11.9) %
Slide 58: Flame For Life Quarterly Figures
Flame For Life Quarterly Figures In million euros Q1 23 Q2 23 Q3 23 Q4 23 FY 23 Q1 24 Q2 24 Q3 24 Q4 24 FY 24 Q1 25 Net Sales 228.5 205.8 200.1 217.1 851.5 207.1 195.0 191.5 216.2 809.8 171.7 YoY change as reported +0.9% (1.8) % (7.3) % (1.1) % (2.3) % (9.4) % (5.2) % (4.3) % (0.5) % (4.9) % (17.1)
Slide 59: Blade Excellence Quarterly Figures
Blade Excellence Quarterly Figures In million euros Q1 23 Q2 23 Q3 23 Q4 23 FY 23 Q1 24 Q2 24 Q3 24 Q4 24 FY 24 Q1 25 Net Sales 124.7 143.6 139.1 129.4 536.8 132.5 138.5 142.0 130.3 543.3 145.0 YoY change as reported +9.9% +13.3% +4.9% +4.4% +8.0% +6.2% (3.6) % +2.1% +0.6% +1.2% +9.4% YoY change on
Slide 60: Other Products Quarterly Figures
Other Products Quarterly Figures In million euros Q1 23 Q2 23 Q3 23 Q4 23 FY 23 Q1 24 Q2 24 Q3 24 Q4 24 FY 24 Q1 25 Net Sales 8.1 5.9 6.5 8.6 29.1 8.3 5.6 6.5 9.4 29.7 8.6 YoY change as reported +6.8% +13.2% +2.9% +14.6% +9.3% +2.3% (6.0) % +0.5% +9.1% +2.2% +4.6% YoY change on a comparative +7.4% +
Slide 61: Unallocated Costs Quarterly Figures
Unallocated Costs Quarterly Figures In million euros Q1 23 Q2 23 Q3 23 Q4 23 FY 23 Q1 24 Q2 24 Q3 24 Q4 24 FY 24 EBIT (21.2) (21.1) (24.1) (19.1) (85.5) (23.2) (21.6) (16.7) (23.6) (85.1) Adjusted EBIT1 (21.2) (21.1) (24.1) (19.1) (85.5) (22.7) (21.6) (16.7) (23.6) (84.6) 1 See glossary in appendix.
Slide 62: 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 63: 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. In 2025, BIC includes
Slide 64: 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 “Risk Factors and Management” of BIC’s 2