BIC - 2018 Registration document

FINANCIAL STATEMENTS

Consolidated financial statements

2-2

Information on the income statement

estate gains, the gain or loss on the sale of businesses, goodwill depreciation and restructuring costs). It constitutes the key financial metrics used within the Group; capital additions, which are the purchases and internal ● generation of property, plant and equipment and intangible fixed assets for the period.

and assets by activity

All indicators are determined according to IFRS, except for:

normalized income from operations, which is the income from ● operations restated for non-recurring items (in particular real

At December 31, 2017*

December 31, 2018

Other Products Total

Other Products Total

Stationery Lighters Shavers

Stationery Lighters Shavers

(in million euros)

Income Statement Net sales •

804 708

459 (29)

70 2,041

772 686

438 (32)

54 1,950

Depreciation and amortization •

(24)

(21)

(19)

(93)

(30) (69) (14)

(22)

(23)

(109)

Impairment loss •

-

-

(1) 60

-

(1)

-

-

(5)

(74) 259

Income from operations •

55 277

(17)

375

242

44

(13)

Restatements made to obtain the normalized income from operations Cello goodwill impairment • Pimaco goodwill impairment • Restructuring costs • Bic Sport divestiture • IAS 29 impact Argentina • Restructuring costs related to • continuing BIC Graphic operations

- - - - -

- - - - -

- - - - -

- - - - -

- - - - -

69

- -

- -

-

69

-

5

5

9

4

2

-

15

-

- -

- -

5

5

(1)

-

(1)

-

-

-

-

24

-

-

-

-

-

Normalized income from operations

66 278

60

(4)

400

63 246

46

(3)

352

Restated for IFRS 15 – Revenue from Contract with Customers. *

As of December 31, 2018, the BIC Group had not identified any major customer with which it realized more than 10% of its net sales over the period.

CAPITAL ADDITIONS (1) (in million euros)

Other Products 14

Other Products 25

36 Stationery

69 Stationery

Shavers 33

Shavers 51

40 Lighters

39 Lighters

2017 Total : 184

2018 Total : 124

Excluding capital additions of discontinued operations (2 million euros in 2017) and excluding capital additions non cashed out (1 million euros (1) for 2018).

201

• BIC GROUP - 2018 REGISTRATION DOCUMENT •