BIC - 2019 Universal Registration Document

COMMENTS ON THE YEAR

Financial situation and cash

FINANCIAL SITUATION AND CASH 5.2.

At the end of 2019, Net Cash from operating activities was dividend payments, share buybacks, and the acquisition of Lucky 318.2 million euros, including 334.5 million euros in Operating Cash Stationery Nigeria. Flow. Net Cash was negatively impacted by CAPEX, as well as the

MAIN BALANCE SHEET ITEMS

January 1, 2019*

December 31, 2019

December 31, 2018

(in million euros)

Shareholders’ equity

1,638.1

1,625.3

1,608.1

Current borrowings and bank overdrafts

22.6

22.6

65.5

Non-current borrowings

32.0

32.0

32.3

Cash and cash equivalents – Assets

157.5

157.5

198.6

Other current financial assets and derivative instruments

18.1

18.1

6.7

Net cash position  (a)

161.5

161.5

146.9

Goodwill and intangible assets

286.6

286.6

257.7

TOTAL BALANCE SHEET 2,392.2 SOCIÉTÉ BIC did not request any rating from any credit rating agency nor, to the best of its knowledge, has it been the object of any unsolicited rating by any credit rating agency. NB: See Glossary (a) Opening balance sheet: first application IFRIC 23 "Uncertainty over income tax treatments". * 2,367.0 2,367.0

CONDENSED CASH FLOWSTATEMENT

2019

2018

(in million euros)

Cash flow from operations

394.6

334.5

(Increase)/Decrease in net working capital

(73.0)

(21.1)

Other operating cash flows

(17.7)

4.8

Net cash from operating activities  (a)

303.9

318.2

Net cash from investing activities

(109.9)

(110.8)

Net cash from financing activities

(226.5)

(210.8)

Net increase/(decrease) in cash and cash equivalents net of bank overdrafts

(32.5)

(3.4)

Closing cash and cash equivalents

149.8

146.8

See Glossary (a)

178

• BIC GROUP - 2019 UNIVERSAL REGISTRATION DOCUMENT •