![]() This was partially offset by the favorable impact of price and mix and manufacturing efficiencies. Q1 202 3 Gross Profit margin decreased by 2.0 points to 49.8%, negatively impacted by: input cost inflation (raw material and electricity costs), fixed cost absorption and Forex (mainly due to USD/MXN, as EUR/USD hedging was favorable). Net Sales growth was driven by solid commercial execution, both online and in-stores, in our Human Expression and Blade Excellence divisions notably in developing market such as Latin America, India and Middle East and Africa. 3 % at constant currencies and 0.9 % on a comparative basis. Accordingly, we confirm our 2023 objectives to grow our business profitably across all divisions, with Horizon Plan serving as our North Star.”įirst Quarter 202 3 Net Sales increased 4. In a time of such macroeconomic uncertainty, our delivery of high-quality and value-for-money products that consumers trust drove topline growth following the prior year’s exceptionally high comparable basis.įor the balance of the year, we will continue to focus on exemplary omnichannel execution as we bring consumer-centric innovation to both core and added-value products. Sales momentum was bolstered by strategic investments globally in expanded distribution channels, as well as compelling new consumer advertising campaigns helmed by influential celebrity talent. This includes the launches of our new BIC ® EasyRinse razor in the US, the BIC ® EZ Reach lighter in Europe, and an exclusive collection of Inkbox semi-permanent tattoos, available for the first time in-store at a major US retailer. Gonzalve Bich, Chief Executive Officer commented: “Heightened consumer demand for recent product innovations resulting from our Horizon Plan drove market share gains across most of our key regions during the first quarter of 2023. Free Cash Flow before acquisitions and disposals
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