(AOF) – Amplifying the trend of a slightly increasing market, Bic appears at the top of the SBF 120 index, with an increase of 7.92% to 67.45 euros, in the wake of its accounts annuals published yesterday. The manufacturer of lighters, razors, pens and promotional items generated a net profit, group share, of 226.5 million euros, an increase of 14%. Adjusted operating profit increased by 6.9% and adjusted operating margin by 14.7%.
Over the period, turnover increased by 9.2% to 2.26 billion euros.
Shaver sales grew 17.8% at constant currencies, driven by double-digit growth in Europe, Latin America, the Middle East and Africa, market share gains in all key regions and the strong performance of value-added and new products.
Increase in ordinary dividend and extraordinary dividend
In this context, 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, up 11.3% after 2.56 euros proposed there is one year old.
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.
For this year, Bic anticipates a slight improvement in the adjusted operating margin, “thanks to a positive leverage effect 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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