BIC - 2018 Registration document

COMMENTS ON THE YEAR

Operations and consolidated results

Middle-East and Africa/India BIC continued to deploy the proximity strategy first rolled out in 2012. During the year, we continued to work closely with distributors and customers to reinforce our presence, leverage the BIC ® brand and increase Net Sales by focusing on distribution gains and improved in-store visibility. Stationery: Net sales were stable. Issues with importation ● legislation in North Africa were offset by market share gains in South Africa where BIC delivered solid back-to-school sell-in along with increased in-store visibility. In India, Cello Pens’ Domestic Net Sales increased low single digit as Cello continued its strategy of Portfolio streamlining and focus on its champion brands such as Butterflow TM and Butter Gel.

Lighters: BIC continued to focus on our strategy, aimed at ● gaining distribution and improving in-store visibility with a “BIC seen is a BIC sold”. Shavers: BIC net sales declined high-single digit largely cause ● by unfavorable importation legislation in North Africa. Asia-Pacific Stationery: ithe region suffered from a slow Back to School ● season. Lighters: BIC maintained its leadership position in Oceania ● while taking advantage of increased distribution gains across Asia. Shavers: BIC delivered solid results in the region notably ● Oceania driven by new products launches.

179

• BIC GROUP - 2018 REGISTRATION DOCUMENT •