Société BIC SA (BICEY) Q4 2024 Earnings Call Transcript

2025-02-19 14:44:01 ET

Société BIC SA (BICEY)

Q4 2024 Results Conference Call

February 19, 2025 02:30 AM ET

Company Participants

Brice Paris - IR

Gonzalve Bich - CEO

Chad Spooner - CFO

Conference Call Participants

Kate Rusanova - UBS

Geoffrey d'Halluin - BNP Paribas Exane

Marie-Line Fort - Bernstein

Presentation

Operator

Good day, and welcome to BIC's Fourth Quarter and Full Year 2024 Results Conference Call. [Operator Instructions] And now I'd like to hand the call over to your host, Brice Paris. Please go ahead.

Brice Paris

Good morning, and welcome to BIC's Full Year 2024 Results Call. I'm Brice Paris, Head of Investor Relations. We are in Clichy today with Gonzalve Bich, our CEO; and Chad Spooner, our CFO. This call is being recorded, and a replay will be available on our website with the presentation and press release. We'll start with the results presentation followed by a Q&A session.

First, please take the time to read the disclaimer at the beginning of the presentation. With that, I give the floor to Gonzalve.

Gonzalve Bich

Good morning, everyone. Thank you for joining us today to present our 2024 results. It is a pleasure to be with you. Before Chad and I comment on our financial and operational performance, I want to take a step back to reflect on the remarkable progress BIC has made. We're now 80% of the way through our 5-year Horizon journey and I'm extremely proud of our accomplishments, particularly the fact that we delivered an average annual growth rate of more than 5% over the period, in line with our mid-single-digit growth ambition.

As I reflect on this today, 3 important takeaways come to mind. We stood resilient in the face of a volatile macroeconomic environment. We've driven operational excellence, delivering on our Horizon targets 1 year ahead of schedule, and we paved our way towards value creation most recently through the promising acquisition of Tangle Teezer. Looking back at 2024, we continued to operate in a challenging trading environment, which was further compounded by higher-than-expected softness in global consumption, particularly in the U.S. Consumers continue to be impacted by inflationary pressures and showed caution in their spending....

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