Bic: margin target raised for 2024

(CercleFinance.com) - On its quarterly results, Bic group says it now expects higher profitability in 2024, with an adjusted operating margin approaching 15.
5%, compared with a slight improvement over 2023.

The manufacturer of disposable pens, razors and lighters expects 'low-single-digit' annual sales growth, at constant exchange rates, and estimates that its free cash flow generation should exceed E220m in 2024.

For Q3 2024, Bic reports adjusted EPS that is up 19% at E1.77, as well as adjusted operating income up 20% to E102m, representing a margin improvement of 3.7 points to 18.9%.

Sales contracted by 3.7% to E540m as reported, but increased by 2.7% at constant exchange rates, and remained stable (+0.2%) at constant exchange rates excluding Argentina.


Copyright (c) 2024 CercleFinance.com. All rights reserved.