BIC - 2019 Universal Registration Document

FINANCIAL STATEMENTS

Parent company financial statements of SOCIÉTÉ BIC (French GAAP)

NOTE 15

NON-RECURRING INCOME AND EXPENSES

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

Dec. 31, 2019

Dec. 31, 2018

(in thousand euros)

Capital gains/(losses) on asset disposals

(6)

(96)

Gains/(losses) on disposal of equity investments

(1,331)

-

Provision for contingencies (net of reversal)

3,151

(1,225)

Tax adjustments

76

(929)

Debt waivers for subsidiaries

-

(2,000)

Loss on liquidation of subsidiaries

(1,452)

-

Other

(4,055)

(4,946)

NON-RECURRING INCOME AND EXPENSES

(3,617)

(9,196)

NOTE 16

INCOME TAX BREAKDOWN

Net income before tax Income Tax expense Net income after tax

(in thousand euros)

Recurring net income

90,516

22,663

67,853

Non-recurring income and expenses

(9,195)

(4,439)

(4,756)

TOTAL

81,321

18,224

63,097

NOTE 17

TAX GROUPING

SOCIÉTÉ BIC is the parent company of the tax Group comprising de Moulages, DAPE 74 Distribution Électro-Centre and BIC the following companies as of December 31, 2019: Bima 83, BIC Education.

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 Compagnie

As parent company, SOCIÉTÉ BIC recognizes in its financial statements the gain or loss related to the effects of the tax consolidation. In this respect, the gain recorded by SOCIÉTÉ BIC in 2019 amounts to 3,929,370 euros.

NOTE 18

MAIN INCREASES/DECREASES IN THE DEFERRED TAX BASIS

Dec. 31, 2019

(in thousand euros)

C3S

1,021

Provision on current accounts

663

Provision for contingencies

1,595

Provision on trade receivables

9,812

Provion on equity investments

110,364

Foreign exchange losses

(3,803)

Provision on free shares

23,406

Other

68

TOTAL

143,126

DECREASE IN DEFERRED TAX LIABILITIES

(45,829)

258

• BIC GROUP - 2019 UNIVERSAL REGISTRATION DOCUMENT •