BIC: Organic Growth of +1.6% in Q1, but Currency Effects Weigh Heavily
On Tuesday, BIC reported its first quarter 2026 results, showcasing a moderate organic growth of +1.6% to 453 million euros. This growth, supported by all key categories and regions, aligns with management expectations and the trajectory presented in February. However, it conceals significant external setbacks: currency fluctuations and scope changes impacted the revenue by -5.0% and -1.9% respectively for the quarter. The group continues to transition towards a new operational model, details of which will be revealed during the strategic plan presentation in September 2026.
Widespread Growth Hindered by External Effects
Operationally, all three BIC divisions recorded organic growth in the first quarter. The Human Expression division grew by +3.0%, particularly due to improved performance in North America. The Flame for Life division advanced by +1.7%, supported by solid growth in Latin America and continued improvement in the United States. The Blade Excellence division saw an organic growth of +0.6%, driven by the strong growth of Tangle Teezer and good dynamics in the razor business in Europe and Latin America. However, this overall organic growth was undermined by external factors. Currency variations had a negative impact of -5.0% on revenue, while scope changes (including the sale of BIC Cello activities in India and the discontinuation of Rocketbook and Skin Creative activities in Q4 2025) had a negative impact of -1.9% on the quarter's revenue. Geographically, only the Middle East and Africa were excluded from growth.
A Restructuring Group with Preserved Outlook
The new management team, led by CEO Rob Versloot, is building a new operational model aimed at positioning BIC for its next phase of profitable growth. This transformation is taking place in a volatile context marked by the geopolitical situation in the Middle East and its global repercussions. Under current assumptions, BIC anticipates an improvement in organic revenue trends over 2026, a slight increase in adjusted operating margin, and stable generation of free cash flow. These prospects, confirmed during this release, remain unchanged.
The New Strategic Plan in September
The management reiterated its commitment to unveil a new strategic plan in September 2026. This plan is expected to detail the group's restructuring axes and medium-term objectives. The publication of the first quarter revenue, while confirming execution in line with expectations, remains an intermediate step before this major communication. A detailed presentation of the quarter's results will take place on April 29, 2026, at 08:30 CET, during a webcast and a conference call.
