Excluding 2020 under absorption of fixed cost due to the COVID-19 pandemic and Rocketbook, the gross profit margin decreased by 2.5 points. Excluding Inkbox, the gross profit margin increased by 0.1 points. labor shortages of last year. So you should expect more of that from us in 2022. What impact have you factored in your guidance for 2022 for those two items? And if I go back to our Horizon strategy, the two things that we talked about and we continue to talk about and we're super laser-focused on is growth in the core and then growth through inorganic operations. 2021 was year one, of our virgin plastics reduction road map. Socit BIC SA manufactures and sells stationery, lighter, shaver, and other products in Europe, North and Latin America, the Middle East and Africa, the Oceania, and Asia. The full year gross profit margin increased by 2.7 points at 50.8% for 2021, compared to 48.1% in 2020. My name is Jess and I'll be your coordinator for today's event. Thank you, Gonzalve. The oldest executive at Socit BIC SA is Sara A. LaPorta, 60, who is the Chief Strategy & Bus. It has the type of margins that we're looking for. (Indexes sur le cours de la bourse). While meeting our Invent the Future targets was challenging, this helped us to better weather the impacts of COVID-19 on our business. And this is going to continue in 2022. [Operator Instructions] And the first question comes from the line of Nicolas Langlet from BNP Paribas. And as Gonzalve mentioned that could have -- that will have an anticipated 50 to 80 basis points negative impact on our margins in 2022. Career. I'll focus now on how we see this New Year shaping up from a market perspective, starting with our global market assumptions based on Euromonitor and internal estimates. So we're not afraid of disposals. FX translation impact Argentina** Q4 2018 Net Sales +5.4%-1.8% Q4 2018 497.4 511.0 Gonzalve Bich Net Worth Mr. Gonzalve Bich biography. And then unallocated costs for 2022, I guess the way that I would think about this is on a total year basis, it shouldn't be materially different. Full year 2021 Human Expression adjusted EBIT margin, decreased by 0.4 points. Yes, we are actively hedging for next year, given the favorable rates that we're seeing right now on the U.S. dollar. So that's how you can think about phasing from first half to second. Gonzalve Bich joined BIC Asia in 2003, where he developed the regional business for four years. In Europe, net sales grew double-digit, driven by price increases, the continued recovery in traditional channels, and the success of added-value products, such as Djeep and sleeve lighters. Do I think that there could be further touch up in Q2? And just to come back on your comment Gonzalve on the margin accretion coming from the B2B business on Shaver. In line with Horizon, we will focus on creativity with the launch of a new writing felt pen color range and a brand -- a new brand concept for BodyMark. Thanks, Gonzalve. Gonzalve Bich's Phone Number and Email. As we look at the 172.2 million of non-recurring items in 2021, it was mainly driven by 167.7 million net gain for the sale of our Clichy headquarters and 3.0 million net gain from the Pimaco divestiture. Our growth was outstanding at plus 15.9% net sales at constant currencies compared to initial expectations of 5% to 7%. The first one you said at the beginning of the call that you will actively well reshuffle the portfolio of activity to accelerate the organic sales growth of the company. And then as I mentioned before in Nicolas question, some of the electricity in. Sign up in seconds, it's free! Thanks Chad. Further, the company is involved in the provision of delivery services; production of industrial equipment; and manufacture and distribution of IT solutions and consumer products, as well as in real estate and insurance activities. And then in addition to that we also have other savings that we're going to be getting on top of our Invent the Future right? And I really love that collaboration and you should continue to see those really interesting, edgy designs that are so critical to the appeal of the product in addition to its tremendous just application benefits. Yet at this time last year, it was inconceivable that growth rates would more than double. However, in shave, online sales grew more than 50%, notably driven by North America. We also pursued our strategy to lean towards more added value-driven growth. Okay. This is the important proof point of our increased agility. Net finance revenue was negative 2.6 million compared to a positive 0.8 million for the same period in 2021. Okay, okay. Since 2018, we've served 158 million children, which is a tremendous source of pride for the team across BIC. Our net cash position at the end of December 2021 . To your question about the U.S. And finally on the Blade-Tech B2B business on Shaver what contribution are you expecting from that initiative in 2022? Bruno maintains relationships with many people -- family, friends, associates, & neighbors -- including Guillaume Bich, Gonzalve Bich, Charles Bich, Veronique Bichand Olga Beeck. Gonzalve Bich's Post. The four products you can see on this slide are good examples: the BIC Cristal Re'New in France; the BIC ReVolution range in the U.S., the new range of Hybrid shavers; and our new BAMBOO razor, which launched successfully online and offline in Sweden during the second quarter. Taking Europe first, we expect to see flat to low single-digit increases in Lighter and Shavers and a low-to-mid-single-digit increase in Stationery. This innovative program accelerates our path towards genuine long-term value creation for all of our stakeholders, which I'm extremely proud of. Turning to blade excellences, adjusted EBIT margin, it increased by 9.7 points driven by net sales leverage, favorable fixed cost absorption, as well as the positive contribution from BIC Blade-Tech B2B business. Si vous souhaitez modifier vos centres d'intrt, vous pouvez tout moment cliquer sur le lien Notifications, prsent en pied de toutes les pages du site. As I reflect on what we achieved, the four things that stand out for me are; net sales growth, our resilience to external headwinds, our continued progress on sustainability, and maintaining our strong cash flow. Things like Lucky Stationery in Nigeria, the business that we did in Kenya a few years ago or even Djeep which was really a bolt-on because Djeep compared to the total BIC business is rather small. Yes. Bich stepped down as Chairman of Societe Bic in 1993. Thanks to our team's outstanding commercial execution, we begin the year with deeper and more enriched customer relations founded upon improved consumer understanding. No. We increased our digital first capabilities to further allow us to dialogue with a new generation of consumers and we launched several products innovations while continuing to invest in future capabilities. Whitepages people search is the most trusted directory. The perimeter impact adjustments are driven by the acquisition of Rocketbook plus 2.8 points; and Djeep plus 0.5 points, partially offset by PIMACO divestiture. We're going to have solid growth in Lighters with strong demand from our customers in the US resulting from some delayed shipments at the end of Q4 we talked about this in October potentially and some prebuys ahead of the 2022 price increases. Good morning, everyone. Today, EZ reach is almost at 6% market share. We expect mid to single-digit organic growth driven by higher volumes, new product launches and pricing. This ends the review of Q1 of 2022 consolidated results. Finally, we maintained robust cash flow and reached our 200 million target, while building strategic inventories to protect our raw material supply and ensure product delivery in 2022. So definitely, acquisitions some divestitures, but really leaning into growth is what my team Chad and I do day in and day out and are super, super laser-focused on. And the last question, quick one on the U.S. Europe position for 2023, have you accelerated your [Indiscernible] given the current level of the exchange rate? Gonzalve Bich - Chief Executive Officer. Building on our strengths while adding new capabilities to ensure that we're future fit and that we drive growth as we drive towards our Horizon Plan together. 2022, Depuis 1996, Challenges tablit chaque anne le classement des plus grandes fortunes professionnelles. We currently have no questions in the queue. So this ends our call today. Officer. Inventories ended the period at 593.7 million. I'm extremely proud of how our teams have pulled together to deliver an exceptional quarter with double-digit growth across all our categories and accomplishing this, while navigating continued supply chain issues and rising inflation in addition to labor shortages of last year. So as a reminder, [Operator Instructions] we have no further questions in the queue, so I will hand the call back to your host for some closing remarks. So the first one you asked about is about, price increases, and have we pass them all along? En 1950, l'entreprise sempare du brevet du stylo bille et commercialise le Bic cristal. Let's now look forward to 2022. The RGM is absolutely critical. We ended up with lower CapEx spend than initially anticipated due to supply chain issues which affected our ability to realize our initial investment plans. But the main, the largest quarter will be Q2, Q3. increases that we've seen in Q1 will start to hit us in Q4. And we do expect for the full year low to mid-single decrease in the market, absolutely we won't be shy in grabbing any opportunity that we see in fueling consumption as well as driving it with the advertising and promotional programs with Martha and Snoop and all the other things because there are other things that we do in US Lighter apart from Martha and Snoop. So I'll just repeat, the fact that we have plans to increase prices in all categories and regions and I'll walk through those again for you slowly. Next question comes from the line of Marie Fort from Societe Generale. Which I will tackle in a second. However, we managed to successfully gain market share in premium ranges. We have low single-digit price increase planned in both office products and modern mass channels in the first half in Europe and a mid single-digit price increase starting in February in the US. Socit BIC SA (OTCPK:BICEY) Q4 2021 Earnings Conference Call February 16, 2022 2:30 AM ET, Sophie Palliez-Capian - Vice President, Corporate Stakeholder Engagement, Hello and welcome to the BIC 2021 Full Year Results Call. Net sales were 168.3 million up 25.4% at constant currencies, and adjusted EBIT was 11.4 million with a 6.8% margin. In addition to the ordinary dividend, we launched a 40 million share buyback program -- as in 2021 an ESG component will allow us to allocate funds to the Abdul Latif Jameel Poverty Action Lab and the BIC Corporate Foundation for Education. Thank you. So Gonzalve talked about how we're increasing our volumes and notably through continued market share gains and we're going to get market share increases of 60% to 70% across most of all of our markets. The adjusted EBIT margin has been favorably impacted by 0.2 points from Rocketbook. [Indiscernible] Thank you. Please ensure your line is unmuted locally, as you will be advised when to ask your question. Q1 2022 income before tax was 95.2 million with 29.0% tax rate compared to 228.2 million in 2021. It is also critical to continue to invest in our organic growth and a prerequisite to funding external growth. Second, we will increase prices in stationery. And lastly, we expect a continued rebound in India, which to date has been severely impacted by the pandemic. So that's Stationery. Determination; in 2021, we demonstrated that we've evolved into an organization equipped to face adverse conditions through innovation and commercial excellence. While facing external headwinds, we did not let our guard down. As Gonzalve mentioned earlier, we successfully reached our Invent the Future plan operational and financial targets one year ahead of when we committed to. There are 2 older and no younger executives at Socit BIC SA. And we'll talk about disposals as well because to your point, rotation is not just about acquiring, it sometimes you need to accept that a project is over. Starting with our performance in Human Expression division. So we're not planning significant increases in unallocated costs is a way to think about it. Yeah. Although the recent acceleration of input cost inflation is expected to have a negative impact on operating margins, I'm confident in our ability to take the necessary actions to mitigate this impact. In addition, to our successful core products added value items such as, EZ Reach and Djeep will continue to grow and we plan to launch new decorated additions for both products this year. This ends our presentation for today, and we're now ready to answer your questions. Gonzalve Bich is the CEO & Director at Socit BIC SA. There's other things that we could be doing. On an as-reported basis, net sales for full year 2020 totaled 1.832 billion, up 12.5% versus last year. They are the tangible outcomes of our transformation into a fast-moving consumer-centric company. Moreover, Mexico, South Africa, and India, which were hit hard by the pandemic are now bouncing back. To achieve this double-digit online growth, we need three things. Can this include some disposals as well, or are you only talking about potential external growth? Through this, we continue to enter untapped into rich areas for growth, fueling our ascension into added value segments. Mais, depuis 2009, l'tablissement ne reoit plus de clients. What is the salary of Timoth Bich? We will also see further innovations such as the sustainable BIC Click Soleil, five shaver developed with Avient as mentioned earlier. In 2021, we committed to reaching 100% renewable electricity in 2025 and we are fully confident to reach this target. Our next major milestone within reach is attaining a 15th share of this important pillar of horizon. So here we are, and so are the results. Hi Nicolas, this is Chad. Now, before I give the floor to Chad, I want to say a word about our Invent the Future plan. 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