BIC (BB) AGM 2025 summary

Opening remarks and agenda

• Outgoing Chair and CEO expressed gratitude to board members and management, highlighting leadership transitions and welcoming new directors.

• The meeting was chaired by Candace Matthews, with translation provided, and was broadcast live and available for replay.

• Meeting opened with legal statement by Director of Corporate, Securities and M&A.

• The agenda, approved by the board, included financial results, strategic updates, governance, voting on resolutions, 2024 highlights, 2025 outlook, supply chain, people and culture, Horizon Plan, and Tangle Teezer.

Financial performance review

• 2024 net sales reached €2,197m, up 3.1% like-for-like, with adjusted operating margin at 15.6%, up 90 basis points.

• Adjusted earnings per share rose to EUR 6.15, marking the fifth consecutive annual increase.

• Free cash flow before acquisitions/disposals was €271m; net cash position at €189m; Tangle Teezer acquisition completed for €201m.

• Q1 2025 net sales were €478m, down 7% like-for-like, but Tangle Teezer showed double-digit growth.

• Blade Excellence division contributed 25% of group net sales, with 5.0% growth and 18.5% EBIT margin.

Dividend announcements

• Proposed ordinary dividend of €3.08 per share for 2024, an 8% increase over 2023, representing 50% payout of adjusted EPS, payable June 2025.

• Share buyback program renewed for up to €40m in 2025.