BIC - 2019 Universal Registration Document

GROUP PRESENTATION, PERSPECTIVES, AND STRATEGY

2020 and long-term perspectives

PERFORMANCE GOALS

RECENT EVENTS

Sales growth, market share gains, margins, cash flow, and a strong balance sheet are the main indicators of the Group performance. In 2020, our priority is to continue to drive sales growth through commercial excellence, selected investments in R&D, Brand Support, and CAPEX.

The escalation of the COVID-19 outbreak, particularly in Europe and the U.S. early 2020, are closely monitored by management. The company will regularly assess the COVID-19 impact on its business. In light of the continuing escalation of the COVID-19 global epidemic, the SOCIETE BIC Board of Directors met on 26th March 2020 and decided to adjust the 2020 Capital Allocation Policy to reflect the unprecedented current trading environment. Although BIC can rely on its integrated business model and strong balance sheet, the level of uncertainty of the magnitude and the duration of the crisis requires reallocating the Company’s cash flow to protect its on-going operations and reinforce its competitive positions. Therefore, the Board of Directors decided first to suspend BIC’s share buyback program until further notice, and second, to lower the proposed dividend for the fiscal year 2019 to 2.45 euros per share, as compared to the 3.45 euros initially proposed.

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• BIC GROUP - 2019 UNIVERSAL REGISTRATION DOCUMENT •