BIC - 2018 Registration document

FINANCIAL STATEMENTS

Consolidated financial statements

Number of shares purchased in 2018* Share repurchase program authorized by the Annual Shareholders’ Meeting held on May 10, 2017 • Share repurchase program authorized by the Annual Shareholders’ Meeting held on May 16, 2018 •

265,009 422,387

Average share repurchase price for the purchases during the first half of 2018 (in euros)

78.59

Excluding shares repurchased under the liquidity contract. *

During the 2018 fiscal year, SOCIÉTÉ BIC cancelled 687,396 shares. To the best of the Company’s knowledge, as of December 31, 2018, Shareholders holding more than 5%, 10%, 15%, 20%, 25%, 33.33%, 50%, 66.66%, 90% or 95% of the share capital and/or of the voting rights of the Company were as follows:

At December 31, 2018

% of shares (approx.)

% of voting rights (approx.)

SOCIÉTÉ M.B.D.

27.68% 17.09%

37.75% 23.18%

Bich family

BORROWINGS AND FINANCIAL LIABILITIES NOTE 16

Current borrowings and financial liabilities

Non-current borrowings and financial liabilities

Bank overdrafts

Current lease liability

Non-current lease liability

Total

(in thousand euros)

At January 1, 2017

26,332

21,832

6

1,414

1,446

51,030

Cash Flows

(24,674)

(18,487)

(3)

(390)

(778)

(44,332)

“Non cash” variations

(1) (1)

(302) (302)

- - -

(84) (84)

(76) (76)

(462) (462)

Exchange difference •

Subsidiary divestiture At December 31, 2017

-

-

(598)

(558)

(1,156)

1,657

3,044

3

165

212

5,080

Cash Flows

6,302

(1,115)

- - - - - -

(16,756)

-

(11,569) 61,685 53,480

“Non-cash” variations

1

(691)

30,479

31,896 51,949

Variations in obligations under leases – IFRS 16 • First application

-

-

1,530

Variations in obligations under leases •

-

-

29,048

(20,436)

8 611 (585) (407)

BIC Sport divestiture • Exchange difference •

(222)

(64)

(220)

(79) 383

1

(691)

(99)

At December 31, 2018

7,738

1,174

3

13,668

32,028

54,610

Bank overdrafts are due within one year. Bank loans and financial liabilities have the following maturities:

December 31, 2017

December 31, 2018

(in thousand euros)

On demand or within one year

3,044

1,174

In the 2 nd  year

3

3

TOTAL

3,047

1,177

217

• BIC GROUP - 2018 REGISTRATION DOCUMENT •