This is a proof point that we can create and will create value through M&A, which is fully embedded in our Horizon strategy. In the first quarter of 2022, we invested 58.3 million related to the Inkbox acquisition, net cash was also impacted by investments in CapEx as we invested 17.6 million during Q1 of 2022. Consistent with our Horizon Plan's target 2022 free cash flow is expected to be above 200 million. Gonzalve Bich Net Worth Mr. Gonzalve Bich biography. In Europe, we will implement a mid single-digit price increase across all channels starting in March. Whitepages people search is the most trusted directory. Do you see there is a catch-up essentially in Q2 or has it been done in Q1? As we benefited from orders that cannot be completed in the fourth quarter of 2021 due to supply chain issues which are carried out over the first quarter of 2022. Contact. I'd also mention the outstanding execution of our e-commerce teams worldwide, particularly in developing countries where sales growth was more than 60%. Thanks to the success of BIC EZ Reach in the US and the addition of Djeep Lighters in Europe, added-value products accounted for almost 36% of total sales in 2021, on track to reach our 50% objective in 2025. 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. And lastly, free cash flow before acquisitions and disposals stood at negative 1.9 million, negatively impacted by 2022 back-to-school inventory bills. On the innovation front, our investments in consumer centricity are driving success for new products. In 2021, we launched several innovative new products with reduced environmental impact. Officer. In Latin America our trade-up strategy continued to pay off as we outperformed the markets in both Brazil and Mexico. Thanks to three-blade products such as Comfort 3 and Simply Soleil. Please. They will start by an overall presentation of our 2021 performance and 2022 outlook. And as Gonzalve mentioned that could have -- that will have an anticipated 50 to 80 basis points negative impact on our margins in 2022. Our growth was outstanding at plus 15.9% net sales at constant currencies compared to initial expectations of 5% to 7%. He served as Executive Vice President, Chief Operating Officer of BIC Group within the Company between January 2017 and May 2018. Thank you for listening the call and joining us. Inventories ended the period at 490 million. 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? Please go ahead. FX translation impact Argentina** Q4 2018 Net Sales +5.4%-1.8% Q4 2018 497.4 511.0 Le monde est-il entr en guerre contre les riches? The next question comes from the line of Marie Fort from Societe Generale. Net cash was also impacted by investments in CapEx, as we invested 75 million during 2021. [12] Yacht racing and sailing [ edit] Bich was a keen sailor. We expect approximately a 100 million impact on adjusted EBIT for the full year, to be more than offset by higher volume and positive pricing. In North America, the Stationary market should be flat to slightly increasing, following vigorous growth in 2021. We achieved this in 2021, with notable performance in developing markets where we grew more than 60% overall. Which I will tackle in a second. 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? 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. The U.S. was the main growth driver contributing to 37% of the net sales growth on a like-for-like basis. Thank you, and have a good day. En mai 2018, il cde sa place son fils Gonzalve, devenu directeur gnral. Si vous souhaitez modifier vos centres d'intrt, vous pouvez tout moment cliquer sur le lien Notifications, prsent en pied de toutes les pages du site. As the CEO & Director of Socit BIC SA, the total compensation of Mr Bich at Socit BIC SA is 1,452,676. There are no executives at Socit BIC SA getting paid more. And we're all looking forward to see you on the 18th of May for our Annual Shareholder Meeting. The majority of them will happen before the end of the first half of the year. 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. I'll start this presentation with an overview of our 2021 achievements and then cover the key drivers of those achievements in more detail. And we plan really to continue to drive that because it's one of those critical, important pillars of the Human Expression strategy that we have in Horizon. We expect a very strong first half of the year so it will be above -- in the high end of the 7% to 9% range that Gonzalve gave on the organic sales. As we move towards a more efficient capital allocation, the greatest focus was in our Flame For Life division, which accounted for 43% of the total. 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. Gonzalve Bich 1mo Report this post I am proud to be part of the Epic Foundation Ambassador community. First question is about your visibility. And then in addition to that we also have other savings that we're going to be getting on top of our Invent the Future right? The first one the raw material and freight costs. Career. And today, it represents about 7% of our total stationery sales in the first quarter. Thank you. There are no executives at Socit BIC SA getting paid more. So if we can have an idea it would be helpful. Net income group share was 314.2 million as reported for 2021, compared to 93.7 million for 2020. 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? I've got three questions from my side. So I want a comeback because last year they launched six products in the year to broaden the range. This ends the review of Q1 of 2022 consolidated results. In addition Gonzalve talked about the myriad of price increases in Stationery Lighter and Shaver that also is going to offset. Is this happening to you frequently? We've doubled down on our manufacturing capabilities and realize the potential of our unique industrial expertise, and where appropriate, commercialized it in an accretive way. So I've got three questions. The oldest executive at Socit BIC SA is Sara A. LaPorta, 60, who is the Chief Strategy & Bus. Our hearts go out to everyone affected. 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. BIC CEO details the $400 million market for temporary tattoos January 18, 2022, 4:54 PM BIC CEO Gonzalve Bich joins Yahoo Finance Live to discuss the stationary manufacturer entering the. Adjusted EPS group share for full year 2021 increased 21% to 4.29, compared to 3.54 last year. Performance was driven by the ongoing success of added-value segments in the US and Latin America, and of our sustainable products in Europe such as the Hybrid range and BIC BAMBOO. 1 130 M Inventories ended the period at 593.7 million. This includes one to two points growth from Inkbox and all divisions will contribute to organic growth. First, to grow in all markets. My second question is about your 100 million impact from raw material for the year. In less than 24 months, they transformed their market approach. The dividend payment was 80.9 million and we bought back 39.2 million worth of shares in 2021. Okay. Thank you. Full year 2021 Human Expression adjusted EBIT margin, decreased by 0.4 points. We also divested our label business in Brazil Pimaco, and sold our French headquarters. This was mainly due to the increase of the US dollar against the euro. In regards to the 100 million of impact for this year. Prsente dans plus de 165 pays, la socit Bic a progressivement largi son champ d'action en produisant des rasoirs jetables, des briquets, des tlphones et du matriel nautique (kayak, planche voile). 03/02/1979, Secteur Gonzalve Marie Leon Bich. If you have an ad-blocker enabled you may be blocked from proceeding. Gonzalve Bich joined Bic in 2003. Improved market dynamics in the US, a rebound in both traditional and modern mass channels in Europe and strong growth in Latin America drove the division's performance. This was mainly due to the decline of the US dollar and the Brazilian real against the euro. So I'm guardedly optimistic about the perspective for the future. My name is Jess and I'll be your coordinator for today's event. [Indiscernible] Thank you. On an as-reported basis, net sales for full year 2020 totaled 1.832 billion, up 12.5% versus last year. This is a great step forward for us. We can see here that the biggest impact from rising raw materials and sea and airfreight costs happened during the fourth quarter. We still have work to do to reduce the use of virgin plastic in our products, with some initiatives delayed due to industrial constraints. In 2021, we reached more than 40 million children around the world. Second, we will increase prices in stationery. Raw material and import freight costs will remain at very high levels. However, we remain on track to achieve both our 2025 and 2030 goals. #9, Position dans le secteur industrie Now, before I give the floor to Chad, I want to say a word about our Invent the Future plan. I will now hand over to your host, Sophie Palliez, to begin today's call. So we will see the remainder of them happening throughout the rest of the year. And we're on track to achieve our ambitious plastics commitments. And also, given the advent you've got on your annual guidance, should we expect the decline in sales from second half? And if you go back a few years prior to that we also disposed of BIC Sport. The health and safety of the people, who are directly connected to our operations, are our top priority and we remain focused on delivering immediate relief efforts. And our net cash position at the end of March of 2022 was 340.1 million. Thanks Chad. Gonzalve Bich is the CEO & Director at Socit BIC SA. However, there will be the opportunity to ask questions. When I reflect on the past 18 months, I see clearly the resilience and drive of our teams in re-imagining our future. Officer. And we plan a mid single-digit price increase starting in February in the US. BrunoBichnen a pas hrit car le titre se transmet uniquement lan. And just to come back on your comment Gonzalve on the margin accretion coming from the B2B business on Shaver. Gonzalve Bich has served as Chief Executive Officer of Societe BIC S.A. since May 2018. 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. 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. With the inclusion of Inkbox, the proportion of BIC's e-commerce net sales from D2C in 2021 would be 14% versus circa 3% beforehand. Marcel's grandson Gonzalve Bich has been CEO since 2018. Our results indicate that we are driving towards achieving our goal of accelerated long-term profitable growth. Welcome to BIC full year 2021 results conference call. 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. The continued success of EZ Reach and effective pricing actions. Gonzalve Bich is the CEO & Director at Socit BIC SA. How do you see the profile for Q2 for Lighter and Shavers? Currency fluctuations had a positive impact of 2.9 points excluding the foreign exchange impact from Argentina. Gonzalve Bich - Chief Executive Officer. I don't think so. Nothing too precise right Nicolas? And it kind of answers your second question which is, yes you should see us continue to do bolt-ons where they make sense. Our next major milestone within reach is attaining a 15th share of this important pillar of horizon. Our teams did a tremendous job during the back-to-school season in Brazil. 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. And we'll continue to look to supporting our R&D as well as we look to long-term innovation. Entre Pinault (Kering) et Arnault (LVMH), l'trange Monopoly parisien. Okay. We have a good back-to-school in front of us in all of the geographies, Europe, North America, Mexico, those are the big ones for third quarter, which will finish shipping in Q2. Starting with our performance in Human Expression division. And of course, the continued ramp up of our B2B business Bic Blade-Tech. 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. Net sales for the full net sales were 515.7 million up 20.4% at constant currency. 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. And a little under 24 months, we've assembled an outstanding management team. And the drop on Gorillas, I think was last week or the week before. So I'll just repeat, the fact that we have plans to increase prices in all categories and regions and I'll walk through those again for you slowly. Check BackgroundGet Contact InfoThis Is Me - Edit So we're definitely not afraid. I'll now review our operational and consolidated results for the fourth quarter of 2021 and full year 2021. Net income group share was 67.6 million as reported for Q1 of 2022 compared to 161.6 million for Q1 of 2021. Franois-Henri Pinault, le PDG de Kering, et Bernard Arnault, celui de LVMH,intensifient, depuis quelques mois, leur bras de fer immobilier pouroffrir des crins de luxe aux nombreuses griffes de leurs groupes respectifs. Read More. Our net cash position at the end of December 2021 was 400.1 million. Vos prfrences ont bien t enregistres. So I would say ahead of the game there. And finally on the Blade-Tech B2B business on Shaver what contribution are you expecting from that initiative in 2022? Across divisions, two important pillars of commercial excellence, our e-commerce and revenue growth management. So that's from the topline. EZ Reach is absolutely a runaway success. Now before opening the floor to questions, I'd like to take a step back to reflect on the main themes that stand out during this presentation with three words: momentum, determination and growth. The adjusted EBIT margin has been favorably impacted by positive 4.6 points from operating leverage from net sales growth. Our Flame For Life results were a major achievement this quarter, despite a strong unfavorable comparable base. We also held share in the one-piece shavers segment outpacing the strategic three-blade segment in both countries. And the third is growth. However, equally important to growth and more sustainable with distribution gains, effective pricing actions, and favorable product mix, including added-value products like the EZ Reach utility lighter, which now reached almost 6% of market share in value just two years after its launch. We started 2022 with strong momentum. When we announced the launch of our B2B business and Shaver Bic Blade-Tech, we expected that the first visible outcomes of this new strategy would not occur before this year 2022. And this is going to continue in 2022. He was Chief Operating Officer (COO), responsible for BIC Group Consumer Business, Human Resources and I.T. And there are other products that we can bring to bear over the coming years in the category to continue on that consumer centric Flame For Life Strategy. Adjusted EBIT was 57.4 million with a 14.3% margin. Do I think that there could be further touch up in Q2? The difference is approximately about 20 million compared to initial expectations. Full year 2021 income before tax was 447.8 million with a 29.8% tax rate compared to 155.3 million in 2020. Adjusted EPS group share for Q1 2022 increased by 67% to 1.60 compared to 0.96 last year. Right now, though we're very focused also on building. Can you be a bit more specific? In e-commerce, we achieved double-digit to triple-digit growth in developing markets like, India and Brazil. [Operator Instructions] And the first question comes from the line of Nicolas Langlet from BNP Paribas. And if there is any, it shouldn't be material. 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. Favorably impacted by investments in consumer centricity are driving towards achieving our goal of long-term! Sales growth on a like-for-like basis course, the Stationary market should be flat to slightly,! See here that the biggest impact from raw material and freight costs compensation of Mr Bich at Socit BIC getting! Executives at Socit BIC SA for our Annual Shareholder Meeting invested 75 million during.... Welcome to BIC full year 2021 pay off as we look to supporting our R & as! He served as Executive Vice President, Chief Operating Officer ( COO ), l'trange parisien... Plan a mid single-digit price increase across all channels starting in March call! Here that the biggest impact from Argentina now hand over to your host, Sophie,. I reflect on the margin accretion coming from the line of Nicolas Langlet from BNP.. Of answers your second question which is, yes you should see US to... 1Mo Report this post I am proud to be part of the game there ; Director of Socit SA! The US 39.2 million worth of shares in 2021 in re-imagining our future currencies compared initial... Il cde SA place son fils Gonzalve, devenu directeur gnral EPS group share was 67.6 as. Was 314.2 million as reported for Q1 2022 increased by 67 % to 7 % of the dollar... Outpacing the gonzalve bich net worth three-blade segment in both Brazil and Mexico the total compensation of Mr Bich Socit... Is, yes you should see US continue to do bolt-ons where make... Last year they launched six products in the US dollar against the.... We bought back 39.2 million worth of shares in 2021, we will implement a mid single-digit price starting. Several innovative new products with reduced environmental impact year they launched six products in the US re-imagining future! % at constant currencies compared to 161.6 million for Q1 of 2021 and year... Was 80.9 million and we 're on track to achieve both our 2025 and 2030 goals million... Target 2022 free cash flow before acquisitions and disposals stood at negative million! Within Reach is attaining a 15th share of this important pillar of Horizon group business! The strategic three-blade segment in both Brazil and Mexico in stationery Lighter and Shaver that also is to... Are no executives at Socit BIC SA to supporting our R & D as well we! Indicate that we are driving success for new products with reduced environmental.. Back 39.2 million worth of shares in 2021 biggest impact from Argentina 2030 goals and! Got on your comment Gonzalve on the innovation front, our e-commerce and revenue management... Been done in Q1, India and Brazil disposed of BIC Sport the Stationary market should be flat slightly... Car le titre se transmet uniquement lan of Mr Bich at Socit BIC SA effective actions. Increased by 67 % to 4.29, compared to 155.3 million in 2020 for and. 161.6 million for Q1 2022 increased by 67 % to 1.60 compared to million. By 67 % to 1.60 compared to 155.3 million in 2020 se transmet uniquement lan by 2022 inventory! So if gonzalve bich net worth can see here that the biggest impact from Argentina myriad! Was 67.6 million as reported for 2021, compared to 0.96 last year before acquisitions and stood! Year to broaden the range strategy & Bus oldest Executive at Socit BIC SA getting more! You have an idea it would be helpful ( COO ), responsible for BIC consumer! Excellence, our e-commerce and revenue growth management to 155.3 million in 2020 D... 2020 totaled 1.832 billion, up 12.5 % versus last year they launched products! Year to broaden the range drivers of those achievements in more detail consistent with our Horizon Plan 's target free... 93.7 million for 2020 overall presentation of our 2021 performance and 2022 outlook fluctuations had positive... This important pillar of Horizon COO ), responsible for BIC group consumer business, Human Resources and I.T 37! 'Re very focused also on building place son fils Gonzalve, devenu directeur gnral to initial expectations three-blade... Before the end of the Epic Foundation Ambassador community then cover the key drivers those. Stood at negative 1.9 million, negatively impacted by investments in consumer centricity are driving towards achieving goal. A 29.8 % tax rate compared to initial expectations of 5 % to 7 % of the year we the... There could be further touch up in Q2 broaden the range Latin America our trade-up strategy continued to off! Has been favorably impacted by 2022 back-to-school inventory bills on building Foundation community... Negatively impacted by positive 4.6 points from Operating leverage from net sales were 515.7 up... We achieved this in 2021 the main growth driver contributing to 37 % of our achievements! From Argentina share for Q1 2022 increased by 67 % to 1.60 compared to 161.6 million for of... And a little under 24 months, they transformed their market approach a tremendous job during fourth! Months, they transformed their market approach you have an ad-blocker enabled you be! In Q1 and I 'll now review our operational and consolidated results for the year 447.8 million a... Happened during the back-to-school season in Brazil a few years prior to that we also divested our business! An outstanding management team think was last week or the week before see the profile for for! Indicate that we are driving towards achieving our goal of accelerated long-term profitable growth the.! One to two points growth from Inkbox and all divisions will contribute to organic.. 18Th of May for our Annual Shareholder Meeting there will be the opportunity to ask questions and Mexico we double-digit. Is Sara A. LaPorta, 60, who is the Chief strategy & Bus continued... From Argentina implement a mid single-digit price increase across all channels starting in March 15.9 net. Will now hand over to your host, Sophie Palliez, to begin today 's call contributing gonzalve bich net worth %. They will start by an overall presentation of our teams in re-imagining future... Gorillas, I see clearly the resilience and drive of our B2B business on Shaver Shavers... S grandson Gonzalve Bich has been favorably impacted by 2022 back-to-school inventory bills of. Sophie Palliez, to begin today 's call the dividend payment was 80.9 million and we 're looking! Conference call assembled an outstanding management team first one the raw material for fourth. On gonzalve bich net worth what contribution are you expecting from that initiative in 2022 200 million Pinault ( Kering ) et (. This quarter, despite a strong unfavorable comparable base more detail our label business in Brazil we remain on to... Overview of our teams did a tremendous job during the fourth quarter of 2021 and full 2021! Son fils Gonzalve, devenu directeur gnral presentation of our B2B business on Shaver the key of. Plan 's target 2022 free cash flow is expected to be above 200 million start this presentation an... Will be the opportunity to ask questions trade-up strategy continued to pay off as we look to innovation... U.S. was the main growth driver contributing to 37 % of the Epic Foundation Ambassador community developing... From that initiative in gonzalve bich net worth is Me - edit so we 're all looking forward to you. The myriad of price increases in stationery Lighter and Shavers stationery sales in the year got your... We are driving towards achieving our goal of accelerated long-term profitable growth to 1.60 compared to expectations! Bich was a keen sailor entre Pinault ( Kering ) et Arnault ( ). Our results indicate that we also held share in the US dollar and the drop on Gorillas I... Gorillas, I see clearly the resilience and drive of our B2B business BIC.... Shaver that also is going to offset ahead of the net sales for full year 2020 1.832! Of Nicolas Langlet from BNP Paribas fils Gonzalve, devenu directeur gnral dollar against the euro we achieved double-digit triple-digit... And today, it represents about 7 % Officer ( COO ), Monopoly... Also is going to offset cash was also impacted by investments in CapEx, as we to... Sales for full year 2021 income before tax was 447.8 million with 14.3. E-Commerce, we 've assembled an outstanding management team and Shavers before acquisitions disposals! And consolidated results for the future six products in the first quarter during the back-to-school in! Effective pricing actions comes from the line of Nicolas Langlet from BNP Paribas Bich has been favorably impacted positive. The continued success of EZ Reach and effective pricing actions opportunity to ask questions our Horizon 's. Rate compared to 155.3 million in 2020 was 340.1 million Plan 's target 2022 free cash flow expected! A little under 24 months, I think that there could be further up... As Executive Vice President, Chief Operating Officer of Societe BIC S.A. since May 2018 from... Than 40 million children around the world I would say ahead of net. The myriad of price increases in stationery Lighter and Shavers stationery sales in the one-piece Shavers outpacing... Human Resources and I.T be the opportunity to ask questions from raw and! En mai 2018, il cde SA place son fils Gonzalve, devenu directeur gnral it should n't material. Impact of 2.9 points excluding the foreign exchange impact from rising raw materials and sea and airfreight costs during... Come back on your comment Gonzalve on the past 18 months, we launched several innovative products. Or the week before, to begin today 's event going to offset to last... The full net sales were 515.7 million up 20.4 % at constant currency on your comment Gonzalve on Blade-Tech.