BIC : Disappointing Q1 results. Poor performance in Stationery and Shavers. Full-year guidance maintained
>Weaker-than-expected Q1 results: EBIT of € 70m vs. estimate of € 82.2m - The Bic group has reported weaker than expected Q1 results (1.8% lower than expected in terms of sales and 14.8% in terms of EBIT), characterised by: 1/ sales growth of 4.5% to € 538.7m, just below our estimate of € 548.4m and the consensus forecast of € 542m. Like-for-like and at constant exchange rates, sales rose by 0.9% vs. our estimate of 4.4% (consensus of 4.1%). This difference was mainly...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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