BIC, a world leader in stationery, lighters, and shavers, recently announced its financial results for the full year ended in December 2021. The company reported strong momentum gained across all its markets, fuelled by Consumer-centricity and Commercial Excellence.
Performance highlights from the financial report show that BIC marked a significant 15.9 percent net sales growth at constant currencies, which was driven by the improved understanding of consumer habits, a more customer-centric sales approach, and increased commercial efficiency within each region.
BIC’s net sales growth was largely driven by growth across all its product categories, which include shavers, lighters, and stationery. These results were driven by a rebound in overall product consumption, schools’ reopening in most countries, the shift in consumer attitudes towards creativity and self-expression, an improvement in in-store visibility, and a more value-driven approach.
Among the leading countries in Africa in terms of sales volume, Nigeria leveraged BIC’s acquisition of Lucky Stationery a few years ago and the deployment of a more direct marketing approach to reporting a good result.
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“We delivered strong 2021 results, exceeding our expectations, and growing Net Sales high-single to double-digits in all our markets, by being laser-focused on turning our Horizon strategic plan into actions,” Chief Executive Officer at BIC, Gonzalve Bich said.
According to the CEO, BIC’s passion for bringing simplicity and joy to people all over the world drives it to reimagine what’s new today and what’s next tomorrow. “Our teams over-delivered on what they can control, such as commercial excellence and new product launches.”
On the 2022 outlook, BIC CEO added that the company will build on its 2021’s momentum and the execution of the Horizon plan. “We expect full-year 2022 net sales to grow between seven percent and nine percent at constant currencies.”
In marking BIC’s success in this past fiscal year, the company will reward its shareholders an ordinary dividend of €2.15 per share, which will be paid in June 2022, subject to the AGM approval. The company also launched €40 million in share buybacks in January 2022.
The company also showed resilience in the face of external headwinds through manufacturing efficiencies and procurement initiatives fuelled by BIC’s Invent the Future plan. These external headwinds were driven by the increase in raw materials, packaging market prices and global sea freight disruption.
For more than 75 years, BIC has continued to honour the tradition of providing high-quality, affordable, essential products to consumers everywhere. BIC has become one of the most recognized brands and is a trademark registered worldwide through this unwavering dedication.
Today, BIC products are sold in more than 160 countries around the world and feature iconic brands such as BIC Kids™, BIC FlexTM, BodyMark by BICTM, Cello®, Djeep, Lucky Stationery, Rocketbook, Soleil®, Tipp-Ex®, Us. TM, Wite-Out®, Inkbox and more. The Company is listed on Euronext Paris and is part of the SBF120 and CAC Mid 60 indexes and is recognized for its commitment to sustainable development and education.
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