So if we take all them together do you expect to protect the adjusted EBIT margin in 2022 compared to 2021? Now before opening the floor to questions, I'd like to take a step back to reflect on the main themes that stand out during this presentation with three words: momentum, determination and growth. This includes one to two points growth from Inkbox and all divisions will contribute to organic growth. And so we divested it and it's on to a future that it has. It's going to happen across all the quarters. Just the first one which was the visibility on Lighter and shave in the second quarter. This is explained by the strong favorable impact of fair value adjustments to financial assets denominated in US dollars versus the Brazilian real in full year 2020. The perimeter impact adjustments are mainly driven by the acquisitions of Rocketbook 3.4 points, partially offset by the Pimaco divestiture and Asian business closures. Let me now review the adjusted EBIT margin change versus prior year for the fourth quarter of 2021. Full year 2021 income before tax was 447.8 million with a 29.8% tax rate compared to 155.3 million in 2020. The first one in terms of price adjustment. There are 2 older and no younger executives at Socit BIC SA. Now, BIC has -- had a reputation for cautiousness and for delivering rather than promising. However, there will be the opportunity to ask questions. Second, we will increase prices in stationery. Now, in addition to organic growth, our recent acquisitions Rocketbook and Lucky Stationery in Nigeria had a remarkable performance. And lastly, free cash flow before acquisitions and disposals stood at 205.7 million. [Operator Instructions] And the first question comes from the line of Nicolas Langlet from BNP Paribas. So as we move from gross profit to EBIT -- one of the things that Gonzalve talked about is our continued brand support so we can get that net sales growth in 2022. So very much a strong contributor to the total division in the mid-term and accretive to profit margins. On an as-reported basis, net sales for full year 2020 totaled 1.832 billion, up 12.5% versus last year. In the non-refillable segment our added-value shavers represented an impressive 70% of the total division sales, confirming the relevance of our premiumization strategy. We had those in sell out in the market as well. As we look at the 172.2 million of non-recurring items in 2021, it was mainly driven by 167.7 million net gain for the sale of our Clichy headquarters and 3.0 million net gain from the Pimaco divestiture. Thanks, Gonzalve. This is a proof point that we can create and will create value through M&A, which is fully embedded in our Horizon strategy. It has the type of margins that we're looking for. In the US, we gained 1.2 points market share in Lighters, leaning towards a more added value-driven model with products like EZ Reach. We also held share in the one-piece shavers segment outpacing the strategic three-blade segment in both countries. Trade and other payables were 149 million at the end of 2021. Inventories ended the period at 490 million. The perimeter impact adjustments are driven by the acquisition of Rocketbook plus 2.8 points; and Djeep plus 0.5 points, partially offset by PIMACO divestiture. So the first one you asked about is about, price increases, and have we pass them all along? Trade and other receivables ended at 418 million. This improvement is mainly driven by the strong increase in North America lighter sales, price increases and a favorable fixed cost absorption. Many thanks. And I will now hand it over to Gonzalve for the lighter questions. labor shortages of last year. Mr Bich is 42, he's been the CEO & Director of Socit BIC SA since . While meeting our Invent the Future targets was challenging, this helped us to better weather the impacts of COVID-19 on our business. Yet at this time last year, it was inconceivable that growth rates would more than double. To your question about the U.S. With the inclusion of Inkbox, the proportion of BIC's e-commerce net sales from D2C in 2021 would be 14% versus circa 3% beforehand. Through this, we continue to enter untapped into rich areas for growth, fueling our ascension into added value segments. In the US, we outpaced the lighter pocket market by gaining 1.2 points market share in value, fueled by distribution gains, positive price and mix impact and RGM. Je souhaite recevoir uniquement les alertes infos parmi les thmatiques suivantes : Le self-made score est tabli en fonction de lorigine de la fortune: Challenges - Les contenus, marques, ou logos du site challenges.fr sont soumis la protection de la proprit intellectuelle. And the things I think about are Coloring with the relaunch of the intensity felt pen range, in some key markets, EZ Reach continued success, as well as the launch of BIC Ecolutions, Shaver line, more broadly in Europe, which is the Lighter with sustainability benefits, BIC Blade-Tech will continue to ramp up and you should see that happening over time, as we deliver more and more to customers. This was mainly due to the increase of the US dollar against the euro. Net cash was also impacted by investments in CapEx, as we invested 75 million during 2021. And a lot of these changes are really driven by the electricity increases that we've seen, especially in Europe in the first quarter. And we're evaluating plans to increase capacities to answer, increasing demand. But again, let me come back to we acquired Djeep because it had critical capabilities that make the total bigger, stronger, faster, better. Marcel Bich possdait le titre de baron, accord son aeul par le roi de Sardaigne en 1841. And good afternoon, everyone. industrie, Entreprise Please ensure your line is unmuted locally, as you will be advised when to ask your question. Our partnership with Martha Stewart and Snoop Dog is a truly symbiotic relationship that we recently extended with the second wave of integrated advertising and promotional efforts driving 50 million incremental impressions and strong consumer engagement thus far this year. Vendu plus de 100 milliards d'exemplaires, il reste ce jour le stylo le plus vendu dans le monde. There are no executives at Socit BIC SA getting paid more. We expect raw materials and freight costs to negatively impact 2022 gross margin. The company also provides pocket, utility, decorated, non-decorated classic, electronic, and multipurpose lighters. In regards to the 100 million of impact for this year. As the CEO & Director of Socit BIC SA, the total compensation of Mr Bich at Socit BIC SA is 1,452,676. Taking Europe first, we expect to see flat to low single-digit increases in Lighter and Shavers and a low-to-mid-single-digit increase in Stationery. Our net cash position at the end of December 2021 . Performance was notably driven by robust commercial execution in Europe, Latin America, Middle East and Africa and by further market share gains in strategic segments including Coloring. Do I think that they're an inventory dislocation? So on a total consolidated basis we're looking to protect our gross margin rate. What Is Bhad Bhabie's Net Worth? With a relentless focus on consumers, our Horizon strategy is well underway in yielding results. These robust results are important achievements for 2021, but more importantly they position us strongly against our competitors in 2022. Determination; in 2021, we demonstrated that we've evolved into an organization equipped to face adverse conditions through innovation and commercial excellence. On Slide 10, we see the main elements in working capital. Adjusted EBIT was 57.4 million with a 14.3% margin. This was partially offset by the negative impact of raw material costs and sea and airfreight costs. The call will be hosted by Gonzalve Bich, Chief Executive Officer; and Chad Spooner, CFO. We expect approximately a 100 million impact on adjusted EBIT for the full year, to be more than offset by higher volume and positive pricing. As I said, net sales for the full-year were 1.8 billion up 15.9% at constant currencies. And lastly, we expect a continued rebound in India, which to date has been severely impacted by the pandemic. Our consistent with our Horizon Plan, we successfully executed our RGM strategy, which is key in an inflationary market. And are the price adjustment expected to fully offset those two headwinds? Consistent with our Horizon Plan's target 2022 free cash flow is expected to be above 200 million. And you saw that in the acquisition of Rocketbook which was the first step in our digital writing platform. Thank you. I'll now give the floor to Chad, who'll take us through our operational and financial performance in more detail. Thank you and good morning everyone. And the last question, quick one on the U.S. Europe position for 2023, have you accelerated your [Indiscernible] given the current level of the exchange rate? In North America, the Stationary market should be flat to slightly increasing, following vigorous growth in 2021. And probably could you help us also to monetize our margins in terms of phasing for all over the year? Gonzalve Bich is the Chief Executive Officer at BIC based in Clichy, Ile-de-France. We have low single-digit price increase planned in both office products and modern mass channels in the first half in Europe and a mid single-digit price increase starting in February in the US. Vous vous tes inscrit pour recevoir lactualit en direct, quest-ce qui vous intresse? And if there is any, it shouldn't be material. As I reflect on what we achieved, the four things that stand out for me are; net sales growth, our resilience to external headwinds, our continued progress on sustainability, and maintaining our strong cash flow. This is explained by the 2022 unfavorable impact of the fair value adjustments to financial assets denominated in U.S. dollar against the Brazilian real. Gonzalve Bich Shelton, Connecticut, United States 9K followers 500+ connections Join to view profile Oct 3, 2018 Activity I finally met Marta and Snoop Dog yesterday when in the office very. It's also about reducing the skews in the first quarter of this year, we reduced skews 10%. Please go ahead. You ended the year with 400 million of net cash and you did not distribute any extraordinary dividend. Their unique brand positioning offers tremendous growth opportunities and you should expect more initiatives from us in the near future. It is also critical to continue to invest in our organic growth and a prerequisite to funding external growth. We've accelerated our path to sustainability with dozens of innovative moves and products with environmental benefits, ready to be launched. Finally, as Gonzalve mentioned, BIC Blade-Tech successfully contributed to approximately 30% of the division's growth. Building on 2021's momentum and the execution of the Horizon Plan, we expect full year 2022 net sales to grow between 7% and 9% at constant currencies. [Indiscernible] performance was driven by successful back-to-school seasons in both Brazil and South Africa, as well as early shipments to customers for the upcoming back-to-school season in both the U.S. and Europe, which added approximately 5 million to Q1 net sales. And as we talk about the gross profit and the headwinds we talked about the volume. It markets its products primarily under the BIC, BIC Kids, Cello, Lucky, RocketBook, Tipp-Ex, BIC Wite-Out, DJEEP, BIC Soleil, Us, MADE FOR YOU, BIC Evolution, and BodyMark brands through a range of channels, including retail mass-market distributors, traditional stores, and office product stationers, as well as an e-commerce site. Momentum; while the world is facing another potentially unpredictable year we're confident that what we built in 2021 will carry us forward and we have the traction for further acceleration. This next slide shows the impact of input cost inflation on gross profit in 2021 in millions of euros. Let's call it. 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