BIC : Resilient profitability (+90bp) in tough environment (sales down 0.9% cc, excl. Argentina)
>Underlying operating profit beats forecasts: € 107.4m vs € 97m est. - BIC reported Q2 results broadly a shade ahead of expectations. We would note: 1/ sales were down 3.2% to € 617.8m, -0.9% cc excluding Argentina. We were expecting sales to be down 1.2% while consensus was anticipating a 0.6% drop. By region, this decline is attributable to North America (38% of consolidated sales in Q2), where sales fell by 10.8%, while in Europe (34% of sales) sales rose by 7...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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