BIC - 2019 Universal Registration Document

FINANCIAL STATEMENTS

Consolidated financial statements

2-2

Information on the income statement 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 estate gains, the gain or loss on the sale of businesses 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.

December 31, 2019

December 31, 2018

Other Products Total

Other Products Total

Stationery Lighters Shavers

Stationery Lighters Shavers

(in million euros)

Income Statement Net sales •

772

686

438

54 1,950

  774  

  679  

  463  

  33   1,949  

Depreciation and amortization •

(30)

(22)

(32)

(23)

(109)

(33) 

(25) 

(35) 

(25) 

(118) 

Impairment loss •

(69)

-

-

(5)

(74)

(44) 

  -  

(1) 

-  

(45) 

Income from operations •

(14)

242

44

(13)

259

(7) 

  218  

  47  

( 5) 

  253  

Restatements made to obtain normalized income from operations Cello Goodwill and trademark • impairment (see notes 10 and 11)

69

- -

- -

-

69

  44

- -

- -

- -

  44

Pimaco Goodwill impairment • Restructuring costs • BIC Sport divestiture • IAS 29 impact Argentina •

-

5

5

-

 -

9

4  -  -

2  -  -

-

15

  17

  15

  12

1  45

 -

  5

5

- -

- - -

- -

- - -

 -    -  

(1)

 -

(1)

UK Pension •

-

-

-

-

-

(7)

(3)

(10)

Normalized income from operations

  63  246

  46

(3)

  352

  48  232

  56

(4)

  332

As of December 31, 2019, the Group had not identified any major customer with which it realized more than 10% of its net sales over the period.

CAPITAL ADDITIONS (1) (2) (in million euros)

Other Products 14

Other Products 11

36 Stationery

38 Stationery

Shavers 24

Shavers 33

40 Lighters

41 Lighters

2018 Total: 124

2019 Total: 114

Excluding capital additions cashed out in 2018 related to 2017 and capital additions cashed out in 2017 related to 2018, for a net amount of (1) -1.6 million euros in 2019. Excluding capital additions cashed out in 2019 related to 2018 and capital additions cashed out in 2018 related to 2017, for a net amount of (2) +8.7 million euros in 2019.

195

• BIC GROUP - 2019 UNIVERSAL REGISTRATION DOCUMENT •