Bic: adjusted EPS more than doubled in Q4
Adjusted operating margin was 13.8%, compared with 8.2% for the same period a year earlier.
Adjusted earnings per share more than doubled from 0.57 euros to 1.23 euros in Q4.
For the full year 2023, sales will come in at €2,263 million, up +1.3% on a reported basis and +3.5% on a comparable basis versus 2022, with adjusted operating margin rising from 14% in 2022 to 14.7% in 2023.
Adjusted earnings per share will come to 5.7 euros in 2023, compared with 5.12 euros a year earlier.
For 2024, Bic expects sales growth of between +5% and +7% at constant exchange rates, thanks to volume, price and mix effects. In 2024, we expect a slight improvement in adjusted operating margin, thanks to positive leverage on operating costs", says the Group.
Bic takes this opportunity to confirm its 2025 targets, i.e. annual sales growth of 5-7% at constant exchange rates, and an adjusted operating margin with an improvement of around 150 basis points on the 14.0% level recorded in 2022.
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