BIC (BB) Q4 2025 earnings summary

Executive summary

• 2025 was marked by a volatile macroeconomic environment, with net sales of €2,090m (down 0.9% at constant currency), driven by weak US and Latin America performance but offset by growth in Middle East, Africa, and Brazil.

• Adjusted EBIT margin was 13.6%, with free cash flow of €222m, reflecting margin pressure from tariffs and higher costs.

• Portfolio was streamlined by discontinuing Skin Creative, Rocketbook, and Cello, improving future profitability.

• Tangle Teezer integration was highly successful, delivering double-digit growth and accretive margins, significantly contributing to group growth.

• Major governance changes included a new leadership team and renewed board to support strategic transformation.

Financial highlights

• FY 2025 net sales: €2,090m (down 0.9% at constant currency, -4.7% organic); Q4 net sales: €495m (+1.1% at constant currency).

• Adjusted EBIT: €283m (13.6% margin), down from €343m (15.6%) in 2024.

• Adjusted EPS: €4.74, compared to €6.15 in 2024.

• Free cash flow: €222m, down from €271m in 2024.

• Net income group share: €86m, down from €212m in 2024.

Outlook and guidance

• 2026 is expected to be a transitional year, with a focus on stabilizing performance and improving organic net sales trends.

• Slight expansion in adjusted EBIT margin and stable free cash flow anticipated.

• Strategic plan to be presented later in 2026 by the renewed leadership team.