BRIEF-Bic Q3 Normalised Income From Operations Down At EUR 83.3 Mln

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BRIEF-Bic Q3 Normalised Income From Operations Down At EUR 83.3 Mln
Credit: © Reuters.

Oct 28 (Reuters) - SOCIETE BIC SA BICP.PA :

* BIC THIRD QUARTER & NINE MONTHS 2020 RESULTS

* IMPROVED PERFORMANCE IN Q3, FUELED BY EUROPE AND NORTH AMERICA WITH ROBUST MID-SINGLE-DIGIT NET SALES GROWTH

* FULL-YEAR NORMALIZED INCOME FROM OPERATIONS MARGIN EXPECTED TO BE ABOVE 13.5%

* 9M 2020 NET SALES TOTALED 1,217.8 MILLION EUROS, DOWN 13.2% ON A COMPARATIVE BASIS

* FOR BALANCE OF YEAR, OVERALL PERFORMANCE WILL CONTINUE TO BE SUBJECT TO MACRO-ECONOMIC UNCERTAINTIES AND CONSUMPTION TRENDS, AFFECTING OUR THREE CATEGORIES

* AT END OF SEPTEMBER 2020, NET CASH POSITION STOOD AT 128 MILLION EUROS

* RISKS ASSOCIATED WITH PANDEMIC PERSIST, WITH LATIN AMERICA AND INDIA AMONGST MOST DISRUPTED REGIONS

* WE ARE NOW TARGETING MORE THAN 20 MILLION EUROS OF OPERATING EXPENSES REDUCTION IN 2020

* Q3 NORMALISED INCOME FROM OPERATIONS EUR 83.3 MILLION VERSUS EUR 88.0 MILLION YEAR AGO

* 9M 2020 GROSS PROFIT MARGIN DECREASED BY 2.2 PTS AT 48.1% COMPARED TO 50.3% IN 9M 2019

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