BIC (BB) Q3 2024 earnings summary

Executive summary

• Q3 2024 net sales reached €540 million, up 0.2% at constant currency excluding Argentina, with strong Blade Excellence and Flame for Life offsetting Human Expression softness.

• Adjusted EBIT margin rose to 18.9% in Q3, up 3.7 points year-on-year, driven by cost control and operational resilience.

• Adjusted EPS for Q3 2024 was €1.77, up 19% versus Q3 2023.

• Free cash flow for the first nine months was €196 million, up 38% year-on-year.

• Gained market share in key geographies during the back-to-school season despite challenging consumer trends.

Financial highlights

• Q3 2024 net sales: €540 million, up 0.2% at constant currency (excluding Argentina); nine months: €1.7 billion, down 0.3%.

• Q3 2024 adjusted EBIT: €102 million (18.9% margin, up 3.7 pts YoY); nine months: €272 million (16.2% margin, up 1.2 pts YoY).

• Q3 2024 adjusted EPS: €1.77, up 19% YoY; nine months: €4.73, up 7% YoY.

• Free cash flow for nine months: €196 million, up from €142 million last year.

• Net cash position at end of September: €329 million.

Outlook and guidance

• Full-year adjusted EBIT margin now expected to approach 15.5% in 2024.

• Net sales expected to grow low single digit at constant currency, excluding Argentina.

• Free cash flow for 2024 projected above €220 million.

• Continued caution due to uncertain trading environment in North America and Europe.