Stabilized Sales and H2 Improvement
Full year net sales of EUR 2.1 billion (down 0.9% at constant currency) with improved momentum in H2 and Q4 net sales of EUR 495 million (up 1.1% at constant currency). Management highlighted stabilization and modest second-half growth after a weak first half.
Strong Free Cash Flow and Shareholder Returns
Resilient free cash flow of EUR 222 million (down EUR 49 million year-on-year) enabled a proposed ordinary dividend of EUR 2.40 per share (50.6% payout ratio) and the renewal of a share buyback program up to EUR 40 million.
Tangle Teezer Integration and Outperformance
Tangle Teezer integrated successfully, delivered double-digit net sales growth in its first year within BIC, was margin accretive, contributed 4.1 points to group growth, consolidated #1 position in the U.K. and reached #3 in the U.S.; local production started (Mexico) with Tunisia planned in 2026.
Innovation and Product Mix Momentum
Successful launches and value-added SKUs (4-Color Smooth, BIC Flex 5, Soleil Glide, BIC Soleil 5 Glide, EZ Load lighter) drove mix improvements and premiumization in several categories; certain innovations showed strong consumer resonance and distribution gains.
ESG Progress and Sustainable Product Development
Notable ESG milestones: 100% of cardboard packaging from certified recycled sources, a 47% reduction in Scope 1 greenhouse gas emissions vs 2019, launch of Twin Lady razor with 87% recycled-plastic handle and blades with 70% recycled steel, and educational impact reaching 245 million children via BIC Foundation.
Disciplined Cost Management and Margin Recovery Plans
Adjusted EBIT of EUR 283 million with an adjusted EBIT margin of 13.6% (management expects slight margin expansion in 2026 driven by exited underperforming businesses and disciplined cost control).