BIC - 2018 Registration document

FINANCIAL STATEMENTS

Parent company financial statements of Société Bic (French GAAP)

NON-RECURRING INCOME AND EXPENSES NOTE 15

The non-recurring income and expenses break down as follows:

Dec. 31, 2017

Dec. 31, 2018

(in thousand euros)

Capital gains/(losses) on asset disposals

36

(6)

Gains /(losses) on disposal of equity investments

- 

(1,331)

Provision for contingencies (net of reversal)

4,838

3,151

Tax adjustments

(3,831) 24,484

76

Income related to the invalidation of 3% additional corporate income tax on dividends for fiscal years 2013 to 2017

-

Debt waivers

(5,088) (1,952) (4,156) 14,331

- 

Loss on liquidation of subsidiaries

(1,452) (4,055) (3,617)

Other

NON-RECURRING INCOME AND EXPENSES

The loss on the disposal of equity corresponds mainly to the sale of BIC Sport.

INCOME TAX BREAKDOWN NOTE 16

Net income before tax Income Tax expense Net income after tax

(in thousand euros)

Current net income

183,804

27,140

156,664

Non-recurring income and expenses

(3,617)

3,207

(6,824)

TOTAL

180,187

30,347

149,840

TAX GROUPING NOTE 17

SOCIÉTÉ BIC is the parent company of the tax Group comprising Compagnie de Moulages, DAPE 74 Distribution, Electro-Centre and the following companies as of December 31, 2018: Bima 83, BIC Education.

BIC Écriture 2000, BIC Services, BIC Conté, Société Immobilière BIC Clichy, Société Immobilière Valiton Gesnouin, BIC Rasoirs, Société du Briquet Jetable 75, BIC Graphic France, BIC Assemblage, BIC Technologies, BIC International Development formerly

As parent company, SOCIÉTÉ BIC recognizes in its accounts the gain or loss related to the effects of the tax consolidation. In this respect, the gain recorded by SOCIÉTÉ BIC in 2018 amounts to 2,878,494 euros.

MAIN INCREASES/DECREASES IN THE DEFERRED TAX BASIS NOTE 18

Dec. 31, 2018

(in thousand euros)

C3S

1,077 3,028

Provision on current accounts

Provision for contingencies

232

Provision on trade receivables

8,365

Foreign exchange losses

(6,626)

Financial investments

102

Provision on free shares

29,653

Other

51

TOTAL

35,882

DECREASE IN DEFERRED TAX LIABILITIES

(12,354)

262

• BIC GROUP - 2018 REGISTRATION DOCUMENT •