BIC - 2019 Universal Registration Document

FINANCIAL STATEMENTS

Consolidated financial statements

1. CONSOLIDATED INCOME STATEMENT

December 31, 2019

Notes

December 31, 2018

(in thousand euros)

Net sales

2-2

1,949,764

1,949,431  

Cost of goods

4

(935,513)

( 972,111) 

Gross profit  (a)

1,014,251

 977,319  

Distribution costs

4

(286,384)

( 290,790) 

Administrative expenses

4

(210,458)

( 184,747) 

Other operating expenses

4

(167,592)

( 172,256) 

Other income

5

11,674

18,307  

Other expenses

5

(102,724)

( 95,113) 

Income from operations

258,768

 252,721  

Income from cash and cash equivalents

6

6,186

 5,893  

Net finance income/(Net finance costs)

6

(3,367)

( 7,169) 

Income before tax

261,587

 251,445  

Income tax expense

7

(88,237)

( 75,350) 

Net income from consolidated entities

8

173,350

 176,095  

Consolidated income, of which:

173,350

 176,095  

Non-controlling interests

-

 -  

Net income Group share

8

173,350

 176,095  

Earnings per share Group share (in euros)

8

3.80

3.91

Diluted earnings per share Group share (in euros)  (b)

8

3.78

3.90

Average number of shares outstanding net of treasury shares over the period

8

45,598,109

45,056,076

Gross profit is the margin that the Group realizes after deducting its manufacturing costs. (a) The dilutive elements taken into account are stock options and free shares. (b)

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• BIC GROUP - 2019 UNIVERSAL REGISTRATION DOCUMENT •