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BIC: First Quarter 2025 Net Sales and Proposed Evolution of Société BIC's Governance
Clichy, France – April 23, 2025
FIRST QUARTER 2025 NET SALES AND PROPOSED EVOLUTION OF SOCIÉTÉ BIC'S GOVERNANCE
First quarter net sales impacted by a more challenging macroeconomic environment
Q1 2025 net sales of 478 million euros, down 7.0% year-on-year on a constant currency basis (-10.9% on a comparative basis), due to a deteriorating trading environment notably in the US and a high comparison basis across the rest of the world, which was growing strongly in Q1 2024.
Group Net Sales Figures
Gonzalve Bich, BIC's Chief Executive Officer, commented :
“In a volatile trading environment, marked by softer consumer confidence and ongoing tariff uncertainty, our categories saw a sharper-than-expected decline in Q1, further impacted by strong prior-year comparables.
We remained focused on what we can control. Our manufacturing strength, agile supply chain, and disciplined commercial execution drove market share gains, fueled by innovation and high-impact advertising.
We also made strong progress integrating Tangle Teezer. The team delivered solid double-digit growth in the quarter, reflecting both brand momentum and effective execution, and significantly contributed to our Blade Excellence division's performance.
While macro uncertainty persists, our Horizon Plan keeps us on course. We're confident in our agility and execution to navigate the near term and create long-term value.”
2025 Outlook update
Based on the deteriorating macroeconomic environment that is driving BIC's categories to decline more than expected since the beginning of the year, particularly in the US, BIC decided to moderate its expectations for its 2025 outlook:
This outlook does not reflect possible impacts from the fluid trading environment, particularly changes in US tariffs.
Update on US tariffs
BIC's net sales in North America accounted for 35% of the Group's total in the first quarter of 2025. The company is closely monitoring the evolving situation regarding US tariffs, which remains highly dynamic and contributes to a climate of uncertainty and market volatility.
As part of its Horizon strategic plan, BIC has initiated a global supply chain optimization program aimed at enhancing its operational agility. The company continues to optimize its manufacturing footprint, and its unique integrated model helps reduce supply chain risks, lower transportation requirements, and minimize environmental impact. BIC is well-positioned to implement measures to mitigate the potential impacts arising from tariffs in the near future.
Operational Trends by Division
Human Expression
Q1 2025 Human Expression net sales were down 10.5% at constant currency, against a high comparison basis in Q1 2024 where net sales grew double-digits. Performance was negatively impacted by increasing pressure on consumer spending, notably in North America and Europe, combined with strong competitive activity in Latin America.
Flame for Life
Q1 2025 Flame for Life net sales declined 15.9% at constant currency negatively impacted by challenging consumption trends, particularly in North America.
Blade Excellence
Q1 2025 Blade Excellence net sales were up 11.0% at constant currency. This was mainly driven by Tangle Teezer and slight growth in North America, which more than offset soft performances across the rest of the world. Excluding the positive impact of Tangle Teezer, net sales declined by 4.5% on a comparative basis.
Operational Trends by Geography
Proposed Evolution of Société BIC's Governance
The Bich family reaffirms long-term commitment as controlling shareholder of Société BIC
The Bich family wishes to reaffirm its long-standing commitment and active role as the controlling shareholder of Société BIC.
In alignment with this commitment, the Board of Directors intends to implement the following changes to strengthen the Company's governance and better reflect Société BIC's ownership structure:
In support of this governance evolution, Nikos Koumettis has informed the Board that he will not seek the renewal of his mandate at the 2025 Annual General Meeting. His decision will facilitate the smooth implementation of the new Board structure.
The Board of Directors extends its sincere gratitude to Nikos Koumettis for his substantial contributions to Société BIC. Under his leadership, the Board entered a new phase of engagement and effectiveness, marked by improved decision-making dynamics and the successful launch of the CEO succession process following Gonzalve Bich's transition plan.
The Bich family reiterates its unwavering dedication to Société BIC, its founding principles, and the creation of long-term value for all stakeholders.
Appendix
Net sales
Impact of Change in Perimeter and Currency Fluctuations on Net Sales
Glossary
Société BIC consolidated financial statements as of March 31, 2025, were approved by the Board of Directors on April 23, 2025. A presentation related to this announcement is also available on the BIC website ( www.bic.com ). This document contains forward-looking statements. Although BIC believes its expectations are based on reasonable assumptions, these statements are subject to many risks and uncertainties. A description of the risks borne by BIC appears in the section, "Risk Factors and Management" in BIC's 2024 Universal Registration Document (URD) filed with the French financial markets authority (AMF) on March 27, 2025.
Conference call
BIC's Q1 2025 Net Sales conference call and webcast will be hosted by Gonzalve Bich, CEO, and Chad Spooner, CFO on Wednesday, April 23, 2025, at 6:30 PM CET:
Contacts
Agenda
All dates to be confirmed
About BIC
A global leader in stationery, lighters, and shavers, BIC brings simplicity and joy to everyday life. For 80 years, BIC's commitment to delivering high-quality, affordable, and trusted products has established BIC as a symbol of reliability and innovation. With a presence in over 160 countries, and over 13,000 team members worldwide, BIC's portfolio includes iconic brands and products such as BIC® 4-Color™, BodyMark®, Cello®, Cristal®, Inkbox®, BIC Kids®, Lucky™, Rocketbook®, Tattly®, Tipp-Ex®, Wite-Out®, Djeep®, EZ Load™, EZ Reach®, BIC® Flex™, Soleil®, Tangle Teezer® and more. Listed on Euronext Paris and included in the SBF120 and CAC Mid 60 indexes, BIC is also recognized for its steadfast commitments to sustainability and education. For more, visit www.corporate.bic.com and to see BIC's full range of products visit www.bic.com . Follow BIC on LinkedIn , Instagram , YouTube and TikTok .
See glossary
IRI Year to date as of February 2025 in France and as of March 1 , 2025 in the UK
NPD Year to date as of March 1 , 2025
IRI Year to date as of February 2025, modern trade only
See glossary
IRI Year to date March 2025. Estimated total lighter measured market (c.70% total market coverage)
See glossary
NielsenIQ (France, Spain, Italy, Sweden, Denmark, Switzerland), Circana (UK): Value. Year to date February 2025
IRI Year to date March 2025
Attachment
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