BIC, a global leader in stationery, lighters, and shavers has announced its fourth quarter and full-year 2022 results.
The company in a statement said it achieved robust growth and outstanding performances in 2022 with a net sales growth of 13.8 per cent, and double-digit growth in all three divisions and across all key markets globally.
It stated, “This accomplishment is driven by BIC’s focus on consumer-centricity, innovative product manufacturing, and sustainable development. It is driven by the Horizon Plan – a strategy launched in 2020 to grow the overall business, strengthen company offerings, and expand into new categories and consumer occasions.
“The African market played a prominent role in the company’s global performance, as BIC recorded a monumental increase in its net sales with double-digit growth in the continent. This was driven by the company’s multifaceted efforts to drive sales in Africa through e-commerce, investments in sustainability initiatives, as well as the impact of a robust back-to-school season in the region, consolidating BIC’s position as a leader in the African business landscape. “
Commenting, the CEO of BIC, Gonzalve Bich said: “Driven by our Horizon strategic plan, growing net sales, and high-single to double-digits growth in all divisions, we executed another year of outstanding top-line performance and achieved our Free Cash Flow target. We also achieved good market share gains in key regions and a continuous flow of premium product innovations, demonstrating our ability to maintain commercial excellence despite strong inflation and recessionary pressures. This momentum strengthens our position and relevance as a valued consumer brand. Moreover, we made tremendous progress toward our sustainability goals throughout 2022, primarily in eco-friendly consumer packaging and recycled plastics usage in our products. I am confident that, in 2023, we will remain resilient, with growing Net Sales of 5% to 7% at constant currencies, while increasing our margin, as we pursue our long-term goals for accelerated profitable growth.”
