BIC : Mixed set of results: sales jump, margin improvement misses expectations
>Q4 results shy of estimates: underlying operating profit at € 43.2m vs € 51.3m est. - BIC reported mixed Q4 results marked by: 1/ Strong sales growth, up 20.6% to € 526.7m (vs. our estimate at € 502.1m; +4.8% difference) and up 9.1% LfL. Over the full year, sales were up 11% LfL and +13.8% cc (vs. guidance at 11-13% cc). 2/ Adjusted operating profit was more disappointing at € 43.2m (vs our estimate at € 51.3m; -15.8% difference). Compared to Q4, the operating margin...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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