1st Quarter 2017 Results
Bruno Bich, Chairman and Chief Executive Officer: "Q1 2017 Net Sales declined by 4.1% on a constant currency basis, weakened by both Stationery and Shavers in North America.
With the launch of BIC® Gel-ocity Quick Dry Gel Pen in the U.S., additional distribution gains in Developing Markets and the continued solid performance of our shaver business in Eastern Europe and Latin America, Full Year 2017 organic Net Sales should grow mid-single digit, in line with our objectives.
As planned, we will continue to invest in R&D, CAPEX and Brand Support to fuel medium and long term profitable growth. The total impact of these investments on Normalized Income From Operations margin will be approximately -100 basis points."