BIC Reports Sales Growth For 2014
4.9% Growth For 2014
France-based BIC Group, the parent company of Top 40 supplier BIC Graphic (asi/40480), announced net sales growth of 4.8% in the final quarter of 2014, and 4.9% growth for its 2014 fiscal year. BIC Graphic, the company’s advertising and promotional product division, recorded a 5.7% year-over-year increase in Q4 revenues, reporting its sales rose to 93.8 million euros ($106.11 million). For 2014, the supplier reported 2.5% growth, with sales reaching 275.6 million euros ($311.77 million). The growth reversed a previous decline in revenues from 2012 to 2013.
“The BIC 2014 results are solid and well balanced among geographies,” said CEO Mario Guevara in a statement. “In a volatile environment and with evolving consumption patterns, we achieved our full year objectives. We grew in all consumer categories and BIC graphic recovered positive momentum.”
For the full year, BIC reported that its North American promotional product sales grew in the low single digits “with a solid performance in hard goods.” The fourth quarter saw mid-single digits growth in North America despite a “flattish calendar market,” the company said. In developing markets, BIC Graphic’s sales grew by a double-digit percentage for both the quarter and the year.
BIC Group’s overall normalized income from operation margin finished at 18.7% in 2014, while its promotional product margin registered at 3.5%. The company’s earnings release noted that “BIC Graphic’s normalized IFO margin is expected to improve” in 2015. The company also said in its 2015 outlook that BIC Graphic’s North American net sales “will grow at a higher pace as we continue to focus on our brands, new products and good value line.”
Counselor ranks BIC Graphic ranks as the fourth-largest supplier in the industry, after the firm reported 2013 North American ad specialty sales of over $300 million.