Bic : A very challenging start of the year – Reduce recommendation maintained
>A challenging Q1: underlying operating profit -53.6% to € 25.3m vs consensus € 46.4m - Bic reported lower-than-expected Q1 2020 results. The key figures are as follows: 1/ a drop in sales by 14.1% to € 357m (we factored in € 418m and consensus € 386m) knowing that at constant scope and exchange rates, the decline would have totalled 13.8%. Over the period, the impact of the COVID epidemic would have weighed for around 2-3pt on the change in revenue on a comparable ba...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.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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