(AOF) – Bic recorded a net profit, group share, of 45.1 million euros in the fourth quarter compared to 12.4 million euros a year earlier. The adjusted operating margin stood at 13.8% compared to 8.2% in the fourth quarter of 2022. It increased by 70 basis points over the year to 14.7%. The quarterly turnover of the manufacturer of lighters, razors, pens and promotional items fell 0.1% to 526.1 million euros. However, it increased by 2.4% on a comparable basis.
Bic announces that shareholder remuneration has been maintained. An ordinary dividend of 120 million euros was proposed for the 2023 financial year, to be paid on June 12, 2024, or 2.85 euros per share, an increase of 11.3%. An extraordinary dividend of 1.42 euros per share will be paid on September 18, 2024. Up to 40 million euros are allocated to the share buyback program, planned for 2024.
This year, the maker of lighters, razors, pens and promotional items anticipates a slight improvement in adjusted operating margin, “thanks to positive leverage on operating costs.” Revenue growth in 2024 is expected to be between 5% and 7% at constant exchange rates thanks to the effect of volumes, price and mix. Net free cash flow generation is expected to be above €220 million.
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