BIC - 2019 Universal Registration Document

FINANCIAL STATEMENTS

Consolidated financial statements

Trademarks & patents

Research & development

Intangible assets in progress

Software

Other

Total

(in thousand euros)

GROSS VALUE At January 1, 2018

73,516

93,338

4,129

6,615

7,071

184,669

Argentina hyperinflation

39

-

-

351

-

390

Acquisitions

2,728

311

-

2,797

21

5,857

Subsidiary acquisitions – Kenya

-

-

-

-

3,938

3,938

Disposals/Write-offs

(11,283)

(1)

-

(186)

(94)

(11,564)

Business disposal

(545)

(411)

-

-

(170)

(1,125)

Other transfers

4,486

1,675

-

(4,444)

488

2,205

Exchange differences

(120)

(405)

111

(106)

(9)

(529)

At January 1, 2019

68,822

94,507

4,240

5,027

11,245

183,841

Acquisitions

1,179

223

-

3,943

40

5,537

Disposals/Write-offs

(288)

-

-

(143)

(12)

(594)

Other transfers

2,030

(328)

-

(2,074)

373

-

Exchange differences

567

833

47

(38)

12

1,421

At December 31, 2019

72,311

95,235

4,287

6,715

11,657

190,205

Trademarks & patents

Research & development

Intangible assets in progress

Software

Other

Total

(in thousand euros)

AMORTIZATION AND IMPAIRMENT LOSS At January 1, 2018

63,271

42,762

4,130

120

606

110,888

Argentina hyperinflation

37

-

-

186

-

223

Amortization for the period

4,642

680

-

20

105

5,447

Impairment loss

-

-

-

-

25

25

Disposals/Write-offs

(11,210)

2

-

-

(94)

(11,302)

Business disposal

(590)

(294)

-

-

(91)

(975)

Other transfers

14

1,175

-

-

-

1,189

Exchange differences

34

1,818

110

(25)

(5)

1,932

At January 1, 2019

56,198

46,143

4,240

301

546

107,428

Amortization for the period

5,387

540

-

37

1,503

7,467

Impairment loss

-

20,772

-

-

-

20,772

Disposals/Write-offs

(349)

-

-

-

(12)

(361)

Exchange differences

337

519

47

15

3

921

At December 31, 2019

61,573

67,974

4,287

353

2,040

136,227

NET VALUE At December 31, 2019

10,738

27,261 

 -

6,362

9,617 

53,978

At December 31, 2018

12,624

48,364

-

4,726

10,698

76,413

Software Internally-generated software is principally related to investments linked to the upgrade of information technology systems. Trademarks and patents The main trademarks booked in the balance sheet as of December 31, 2019 are the Pimaco® trademark for 3.9 million euros and the Cello Pens trademark for an amount of 24 million euros. These trademarks have an infinite lifetime. For impairment test purposes, they are linked to the PIMACO and Cello Pens subsidiaries’ cash-generating units. With regard to the latter, a

impairment amounting to 21 million euros was accounted for in 2019 as further described in note 10.

Others In 2018, one marketing-related intangible asset was identified for a preliminary amount of 458.3 million Kenyan shillings (3.9 million euros at December 31, 2018). This intangible asset was amortized over a three year-period. This asset was allocated to the Kenyan subsidiary cash-generating units (BIC East Africa). As of December 31, 2019, the net amount of this intangible asset represents 2.7 millions euros.

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• BIC GROUP - 2019 UNIVERSAL REGISTRATION DOCUMENT •