Bic : Q1 results far better than expected. Management now aiming for the high end of the FY 2021 guidance range. Outperform rating reiterated.
>Q1 better than expected: sales at € 411m and adjusted EBIT at € 60.5m vs our forecasts of respectively € 364.2m and € 29m - Bic has posted an excellent set of Q1 results, including: 1/ +15.1% growth in consolidated sales to € 411m, which is well above our forecast of € 364.2m (difference +12.8%). The gap was primarily attributable to like-for-like growth which came to +20.9% (base effects were favourable as sales fell by 13.8% l-f-l in Q1 2020) whereas we were expect...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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