BIC: Q2 2022 results beat expectations, thanks to solid execution and good positioning | BUY | EUR68
BIC - BUY | EUR68Q2 2022 results beat expectations, thanks to solid execution and good positioning
Q2 sales exceeded the CS estimate by 6%...
… thanks to double-digit growth in Stationery and Shavers
Q2 aEBIT topped CS expectations by 8% despite margin headwinds
FY22 sales outlook raised and FCF of over EUR200m reiterated
Societe BIC designs, manufactures and distributes the following consumer products: stationery products, lighters, shavers, and other products. Its stationery products include writing instruments such as ball pens, felt pens, mechanical pencils; marking instruments; coloring and drawing instruments; correction instruments and glues. Co.'s stationery products are sold under the BIC® Kids, Tipp-Ex®, Wite-Out®, Sheaffer® and PIMACO® brands. Its other products segment includes promotional products including notebooks, key rings, magnets, and drinkware; Sport sales (surfboards, windsurf boards, kayaks and sailboats); adhesive labels and adhesive raw materials.
Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.
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