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Pens: Bic promises partial recovery in 2021

2021-02-17T21:22:48.387Z


The crisis is weighing down sales of pens and razors: after a difficult 2020, the French Bic certainly plans to straighten out sharply declining revenues, but without immediately returning to their previous level. Read also: Bic adapts its model to regain growth Last year, the group suffered a 16.5% drop in turnover, to 1.63 billion euros. Its net profit was almost halved to 93.7 million euros,


The crisis is weighing down sales of pens and razors: after a difficult 2020, the French Bic certainly plans to straighten out sharply declining revenues, but without immediately returning to their previous level.

Read also: Bic adapts its model to regain growth

Last year, the group suffered a 16.5% drop in turnover, to 1.63 billion euros.

Its net profit was almost halved to 93.7 million euros, he announced on Wednesday.

"

Overall, the group's results have been strongly affected by Covid-19

", summarizes Bic in a

press

release, noting that trends have "

remained weak

" in all of its major activities.

Bic was already showing gloomy performances before the virus crisis, but it made things worse because of the multiple episodes of confinement around the world.

"

The Covid-19 has led to significant changes in consumption habits and purchasing behavior

", underlines Bic.

Thus, school closures have weighed on its stationery branch, which includes pens in particular, even if the group is pleased with a renewed interest in its coloring products.

Razors have suffered from the generalization of teleworking: it "

has led to a drop in the frequency of shaving in men

", notes Bic.

Read also: Dim underwear will change owners again

Now, the group, which announced at the end of 2020 a strategic plan to reduce its operating costs but to increase targeted acquisitions, intends to recover its revenues.

But they will not erase the crisis in 2021.

Bic expects to rebound its turnover from 5% to 7% - at constant exchange rates -, which will place it below its level of 2019 and even before.

We will focus on gaining market share in the main growing countries through the launch of new products and effective promotional activities

,” assures Bic, which also wants to emphasize e-commerce.

Source: lefigaro

All business articles on 2021-02-17

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