BIC, a world leader in stationery, lighters, and shavers, recently announced its financial results for the full-year 2021 which ended in December 2021. The company reported strong momentum gained across all its markets, fuelled by Consumer-centricity and commercial excellence. Nigeria was identified among the leading countries in Africa in terms of sales volume, which was largely due to the company’s acquisition of Lucky Stationery a few years ago and the deployment of a more direct marketing approach.
Performance highlights from the financial report shows that, BIC marked a significant 15.9% net sales growth at constant currencies, which was driven by the improved understanding of consumer habits, a more customer-centric sales approach, and increased commercial efficiency within each region. These results were driven by a rebound in overall product consumption, schools’ reopening in most countries, the shift in consumer attitudes towards creativity and self-expression, an improvement in in-store visibility, and a more value-driven approach.
Commenting on the company’s performance, Chief Executive Officer at BIC, Gonzalve Bich said: “We delivered strong 2021 results, exceeding our expectations, and growing Net Sales high-single to double-digits in all our markets, by being laser-focused on turning our Horizon strategic plan into actions. Our passion for bringing simplicity and joy to people all over the world drives us to reimagine what’s new today and what’s next tomorrow. Our teams over-delivered on what they can control, such as commercial excellence and new product launches.”
On the 2022 outlook, BIC CEO also added “We will build on 2021’s momentum and the execution of the Horizon plan, we expect full-year 2022 net sales to grow between seven percent and nine percent at constant currencies.”
The company also showed resilience in the face of external headwinds through manufacturing efficiencies and procurement initiatives fuelled by BIC’s Invent the Future plan. These external headwinds were driven by the increase in raw materials, packaging market prices and global sea freight disruption.