Société BIC announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2017. For the quarter, net sales were EUR 491.6 million compared to EUR 503.8 million a year ago. Income from operations was EUR 98.0 million compared to EUR 97.8 million a year ago. Income before tax was EUR 120.7 million compared to EUR 100.9 million a year ago. Net income from continuing operations was EUR 101.0 million or EUR 2.17 per share compared to EUR 70.6 million or EUR 1.50 per share a year ago. Net income group share was EUR 101.0 million compared to EUR 36.0 million a year ago. Earnings per share Group share were EUR 2.17 compared to EUR 0.77 a year ago.

For the year, the company reported sales reached EUR 2,020,300,000, down 0.3% as reported, and 1.4% increase on a comparative basis. CapEx investments for 2017 were EUR 186 million. Net income group share reached EUR 288.3 million, up 15.5% compared to EUR 249.7 million a year ago. Earnings per share were EUR 6.2 compared to EUR 5.32 a year ago. Income from operations was EUR 376.2 million compared to EUR 403.4 million a year ago. Income before tax was EUR 398.1 million compared to EUR 408.2 million a year ago. Net income from continuing operations was EUR 295.1 million or EUR 6.35 per share compared to EUR 285.5 million or EUR 6.09 per share a year ago. Net cash from operating activities was EUR 380.6 million compared to EUR 298.7 million a year ago. Capital expenditure was EUR 185.8 million compared to EUR 178.9 million a year ago. Normalized IFO was EUR 400.9 million compared to EUR 409.1 million a year ago. Normalized IFO excluding the special employee bonus was EUR 400.9 million compared to EUR 417.9 million a year ago. Normalized EPS was EUR 6.28 compared to EUR 6.24 a year ago.

For 2018, the company estimates CapEx investment level to be approximately EUR 150 million. the company expects 2018 Group net sales to increase between 1 and 3% on a comparative basis, with all categories contributing to the growth. Major factors affecting sales performance could include continued competitive pressures in Shaver, further inventory reductions from retailers, and continued softness in the Brazilian economy. Normalized income from operations will also be impacted by sales performance. Based on these factors the company expects normalized income from operations margin to be between 17% and 18%.