BIC - 2020 Universal Registration Document

FINANCIAL STATEMENTS

Consolidated financial statements

RECONCILIATIONOF INCOME FROMOPERATIONS, RESTRUCTURING COSTS AND NORMALIZED INCOME FROMOPERATIONS OF 2019 FOLLOWING THE IMPLEMENTATIONOF THE NEWSTRUCTURE:

Other Products

Unallocated costs

Stationery Lighters

Shavers

Total

Income from operations as published (a)

(7)

218

47

(5)

-

253

Reclass (b)

34

30

22

1

(87)

-

Income from operations restated for unallocated costs (a) + (b)

27

248

69

(4)

(87)

253

Restructuring costs as published (a)

17

15

12

1

-

45

Reclass (b)

(14)

(13)

(10)

(1)

38

-

Restructuring costs restated for unallocated costs (a) + (b)

3

2

2

-

38

45

Normalized income from operations as published (a)

48

232

56

(4)

-

332

Reclass (b)

19

17

12

1

(49)

-

Normalized income from operations restated for unallocated costs (a) + (b)

67

249

68

(3)

(49)

332

As of December 31, 2020, the Group had identified Walmart group as a major customer with which it realized more than 10% of its net sales over the period.

CAPITAL ADDITIONS (in million euros)

11 Other Products

9 Other Products

17 Stationery

37 Stationery

23 Shavers

20 Shavers

37 Lighters

34 Lighters

2019 Total: 105

2020 Total: 83

NET INVENTORIES (in million euros)

8 Other Products

6 Other Products

77 Shavers

103 Shavers

219 Stationery

182 Stationery

114 Lighters

126 Lighters

2019 Total: 456

2020 Total: 379

222

• BIC GROUP - 2020 UNIVERSAL REGISTRATION DOCUMENT •