BIC - 2020 Universal Registration Document

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ContentII
Message from the CEO1
Extracts from the Integrated Report3
PROFILE4
A GLOBAL PRESENCE6
BIC 2022 - INVENT THE FUTURE8
HORIZON PLAN10
FROM PRODUCT-LENS TO CONSUMER-LENS11
BUSINESS MODEL12
SUSTAINABLE DEVELOPMENT14
TEAM MEMBERS16
GOVERNANCE17
BOARD OF DIRECTORS18
EXECUTIVE COMMITTEE19
RISK MANAGEMENT20
CREATING SUSTAINABLE VALUE21
SHARING VALUE22
1. GROUP PRESENTATION, PERSPECTIVES, AND STRATEGY23
1.1. HISTORY24
1.2. KEY FIGURES26
1.2.1 KEY FINANCIAL FIGURES26
1.2.2 KEY NON-FINANCIAL FIGURES30
1.3. STRATEGY32
1.4. 2021 AND LONG-TERM PERSPECTIVES33
2021 OUTLOOK33
MARKET TRENDS IN 202133
STRATEGIC AND OPERATIONAL TARGETS33
LONG-TERM AMBITION34
RISKS AND OPPORTUNITIES34
PERFORMANCE GOALS34
RECENT EVENTS34
1.5. BUSINESS PRESENTATION35
1.5.1 BUSINESS PRESENTATION BY CATEGORY35
1.5.2 RESEARCH AND INNOVATION43
1.5.3 MANUFACTURING FOOTPRINT44
2. RISKS MANAGEMENT47
INTRODUCTION48
2.1. MAIN RISKS AND RISK ASSESSMENT48
2.2. DESCRIPTION AND MITIGATION OF MAIN RISK FACTORS50
2.3. VIGILANCE PLAN57
2.3.1 REGULATORY FRAMEWORK57
2.3.2 GOVERNANCE57
2.3.3 RISK MAPPING57
2.3.4 ORGANIZATION AND MEASURES FOR THE PREVENTION OF MAJOR NON-FINANCIAL RISKS58
2.4. RISK MANAGEMENT AND INTERNAL CONTROL PROCEDURES IMPLEMENTED BY THE COMPANY AND INSURANCE61
2.4.1 RISK MANAGEMENT AND INTERNAL CONTROL DEFINITIONS AND OBJECTIVES61
2.4.2 COMPONENTS OF RISK MANAGEMENT AND INTERNAL CONTROL OF THE COMPANY AND ITS SUBSIDIARIES62
2.4.3 RISK MANAGEMENT AND INTERNAL CONTROL PARTICIPANTS, SPECIFIC STRUCTURE(S) IN CHARGE/RESPECTIVE ROLES AND INTERACTIONS66
2.4.4 INSURANCE – COVERAGE OF RISKS68
3. OUR ENVIRONMENTAL, SOCIAL, AND SOCIETAL RESPONSIBILITY69
SUMMARY TABLE OF THE NON-FINANCIAL PERFORMANCE STATEMENT72
3.1. SUSTAINABLE DEVELOPMENT PROGRAM [NFPS]77
3.1.1 THE HISTORY OF BIC’S SUSTAINABLE DEVELOPMENT PROGRAM77
3.1.2 WRITING THE FUTURE, TOGETHER, A COMMITMENT FOR 202578
3.1.3 GOVERNANCE OF POLICIES AND ACTIONS TAKEN TO PREVENT, REDUCE AND CORRECT THE MAIN CSR RISKS [NFPS]85
3.2. OUR PRODUCTS [NFPS]86
3.2.1 THE CIRCULAR ECONOMY AT BIC: THE “4 RS” PHILOSOPHY86
3.2.2 APPLYING THE “4 RS” PHILOSOPHY TO PRODUCTS [NFPS]88
3.2.3 APPLYING THE “4 RS” PHILOSOPHY TO PACKAGING91
3.2.4 PRODUCT SAFETY [NFPS]93
3.2.5 PRODUCTS DESIGNED TO MEET AND ANTICIPATE CONSUMERS’ EXPECTATIONS [NFPS]97
3.3. OUR INDUSTRIAL SITES AND OFFICES [NFPS]99
3.3.1 RISKS AND OPPORTUNITIES [NFPS]99
3.3.2 POLICIES AND MANAGEMENT SYSTEMS [NFPS]99
3.3.3 ACTIONS TAKEN TO CONTROL ENVIRONMENTAL IMPACTS, RESULTS AND PERSPECTIVES [NFPS]100
3.4. OUR SOCIAL RESPONSIBILITY [NFPS]108
3.4.1 THE WORKFORCE108
3.4.2 SHARING OUR VALUES110
3.4.3 HEALTH/SAFETY AND WELL-BEING IN THE WORKPLACE [NFPS]110
3.4.4 TEAM MEMBER DEVELOPMENT [NFPS]115
3.4.5 THE REMUNERATION SYSTEM116
3.4.6 PROMOTING DIVERSITY117
3.4.7 SOCIAL DIALOGUE119
3.5. ETHICS AND BUSINESS CONDUCT ACROSS THE VALUE CHAIN [NFPS]121
3.5.1 THE RESPONSIBLE PURCHASING APPROACH121
3.5.2 ENSURING RESPECT FOR HUMAN RIGHTS IN THE WORKPLACE [NFPS]122
3.5.3 BUSINESS CONDUCT AND THE FIGHT AGAINST CORRUPTION [NFPS]124
3.5.4 RESPONSIBLE LOBBYING AND PARTICIPATION IN SECTOR WORKING GROUPS125
3.6. OUR SOCIETAL COMMITMENT127
3.6.1 MAKING OUR PRODUCTS AFFORDABLE TO ALL127
3.6.2 THE GROUP’S COMMITMENT TOWARD LOCAL COMMUNITIES127
3.7. THE CLIMATE-RELATED PERFORMANCE REPORT131
3.7.1 GOVERNANCE131
3.7.2 STRATEGY131
3.7.3 RISK MANAGEMENT133
3.7.4 MEASUREMENT METHOD, INDICATORS AND GOALS134
3.8. MILESTONES [NFPS]137
3.8.1 EXTRA-FINANCIAL RATINGS137
3.8.2 PERIMETER AND SELECTION OF INDICATORS137
3.8.3 INDICATORS TABLE140
3.8.4 REPORT OF ONE OF THE STATUTORY AUDITORS, APPOINTED AS INDEPENDENT THIRD PARTY, ON THE CONSOLIDATED NON FINANCIAL STATEMENT144
4. CORPORATE GOVERNANCE147
4.1. ADMINISTRATIVE AND MANAGEMENT BODIES148
4.1.1 COMPOSITION AND FUNCTIONING OF ADMINISTRATIVE AND MANAGEMENT BODIES148
4.1.2 FUNCTIONING OF THE BOARD OF DIRECTORS168
4.2. CORPORATE OFFICERS’ REMUNERATION175
4.2.1 REMUNERATION POLICY FOR DIRECTORS AND CORPORATE OFFICERS OF SOCIÉTÉ BIC175
4.2.2 REMUNERATION AND BENEFITS FOR YEAR 2020183
5. COMMENTS ON THE YEAR195
5.1. OPERATIONS AND CONSOLIDATED RESULTS196
THE GROUP IN 2020196
2020 GROUP NON-FINANCIAL PERFORMANCE199
2020 GROUP PERFORMANCE BY CATEGORY199
2020 GROUP PERFORMANCE BY GEOGRAPHIES202
5.2. FINANCIAL SITUATION AND CASH205
5.3. DIVIDENDS206
5.4. INVESTMENTS207
PRINCIPAL INVESTMENTS OVER RECENT YEARS207
PRINCIPAL INVESTMENTS IN 2020208
PRINCIPAL INVESTMENTS IN PROGRESS: GEOGRAPHIC DISTRIBUTION AND FINANCING METHODS208
PRINCIPAL FUTURE INVESTMENTS208
6. FINANCIAL STATEMENTS209
6.1. CONSOLIDATED FINANCIAL STATEMENTS210
1. CONSOLIDATED INCOME STATEMENT211
2. CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME212
3. CONSOLIDATED STATEMENT OF FINANCIAL POSITION213
4. CONSOLIDATED STATEMENT OF CHANGES IN EQUITY215
5. CONSOLIDATED CASH FLOW STATEMENT216
6. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS217
6.2. STATUTORY AUDITORS' REPORT ON THE CONSOLIDATED FINANCIAL STATEMENTS269
I. OPINION269
II. BASIS FOR OPINION269
III. JUSTIFICATION OF ASSESSMENTS - KEY AUDIT MATTERS270
IV. SPECIFIC VERIFICATIONS270
V. OTHER LEGAL AND REGULATORY VERIFICATIONS OR INFORMATION271
VI. RESPONSIBILITIES OF MANAGEMENT AND THOSE CHARGED WITH GOVERNANCE FOR THE CONSOLIDATED FINANCIAL STATEMENTS271
VII. STATUTORY AUDITORS’ RESPONSIBILITIES FOR THE AUDIT OF THE CONSOLIDATED FINANCIAL STATEMENTS271
6.3. PARENT COMPANY FINANCIAL STATEMENTS OF SOCIÉTÉ BIC (FRENCH GAAP)273
1. INCOME STATEMENT274
2. BALANCE SHEET275
3. CASH FLOW STATEMENT277
4. NOTES TO THE PARENT COMPANY FINANCIAL STATEMENTS278
6.4. STATUTORY AUDITORS’ REPORT ON THE FINANCIAL STATEMENTS292
I. OPINION292
II. BASIS FOR OPINION292
III. JUSTIFICATION OF ASSESSMENTS - KEY AUDIT MATTERS292
IV. SPECIFIC VERIFICATIONS293
V. OTHER LEGAL AND REGULATORY VERIFICATIONS OR INFORMATION294
VI. RESPONSIBILITIES OF MANAGEMENT AND THOSE CHARGED WITH GOVERNANCE FOR THE FINANCIAL STATEMENTS294
VII. STATUTORY AUDITORS’ RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS294
6.5. STATUTORY AUDITORS’ SPECIAL REPORT ON REGULATED AGREEMENTS296
7. INFORMATION ABOUT THE ISSUER297
7.1. INFORMATION ON THE COMPANY298
HISTORY AND DEVELOPMENT OF THE ISSUER298
MEMORANDUM AND ARTICLES OF INCORPORATION298
7.2. SHARE CAPITAL300
7.3. SHAREHOLDING302
SHARE CAPITAL BREAKDOWN302
EMPLOYEES’ SHAREHOLDING303
CROSSING OF LEGAL THRESHOLDS303
ELEMENTS THAT COULD HAVE INFLUENCE ON A TAKE-OVER BID OR THAT COULD DELAY OR PREVENT A CHANGE OF CONTROL (ARTICLE L. 225-100-3 OF THE FRENCH COMMERCIAL CODE)303
7.4. TREASURY SHARES AND SHARE BUYBACK304
TREASURY SHARES HELD BY SOCIÉTÉ BIC AS OF DECEMBER 31ST, 2020304
SHARE BUYBACK PROGRAM – OPERATIONS CARRIED OUT IN 2020304
DESCRIPTION OF THE SHARE BUYBACK PROGRAM SUBMITTED TO THE SHAREHOLDERS’ MEETING OF MAY 19, 2021304
7.5. INVESTOR RELATIONS305
7.6. SHARE INFORMATION306
8. BOARD OF DIRECTORS’ REPORT AND DRAFT RESOLUTIONS OF THE SHAREHOLDERS’ MEETING OF MAY 19, 2021307
8.1. ORDINARY SHAREHOLDERS’ MEETING309
8.2. EXTRAORDINARY SHAREHOLDERS’ MEETING317
8.3. ORDINARY AND EXTRAORDINARY SHAREHOLDERS’ MEETING326
9. ADDITIONAL INFORMATION327
9.1. DOCUMENTS ON DISPLAY328
MEMORANDUM AND ARTICLES OF INCORPORATION328
HISTORICAL FINANCIAL INFORMATION328
9.2. MAIN PRESS RELEASES329
9.3. DECLARATION BY RESPONSIBLE PERSON OF THE UNIVERSAL REGISTRATION DOCUMENT330
9.4. STATUTORY AUDITORS AND FEES331
NAMES AND ADDRESSES331
CHANGE OF STATUTORY AUDITORS331
FEES OF THE AUDITORS AND THE MEMBERS OF THEIR NETWORKS331
AUDITING OF HISTORICAL ANNUAL FINANCIAL INFORMATION331
INTERIM AND OTHER FINANCIAL INFORMATION331
9.5. GLOSSARY332
CROSS REFERENCE TABLE FOR UNIVERSAL REGISTRATION DOCUMENT335
CROSS REFERENCE TABLE WITH THE ANNUAL FINANCIAL REPORT337
CROSS REFERENCE TABLE WITH THE MANAGEMENT REPORT338
CROSS REFERENCE TABLE FOR ENVIRONMENTAL AND SOCIAL INDICATORS340
CROSS REFERENCE TABLE OF THE CORPORATE GOVERNANCE REPORT341

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