Bic : Markets remain challenging, limiting re-rating in the short term
>Fresh downward revision to estimates - At a conference call, the group commented on the first quarter, which saw a 13.8% fall in sales on a like-for-like basis and at constant currency, with a drop in normalised operating profit of -53.7% to € 25.3m. Our takeaways: Regarding the decline in sales on a comparable basis, the impact of COVID was around -2 to -3%, while the decline in the US lighter market (-6.5% in Q1) had an impact on the Bic group of -4%. At the...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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