BIC_REGISTRATION_DOCUMENT_2017

FINANCIAL STATEMENTS Consolidated financial statements

2-2

Information on the income

normalized income from operations excluding the impact of the ● special employee bonus that has been awarded to employees who have not been granted shares under our performance share plan and after approval of the exceptional dividend; capital additions, which are the purchases and internal generation ● of property, plant and equipment and intangible fixed assets for the period.

statement and assets by activity All indicators are determined according to IFRS, except for: normalized income from operations, which is the income from ● operations restated for non-recurring items (in particular real estate gains, the gain or loss on the sale of businesses and restructuring costs). It constitutes the key financial metrics used within the Group;

Dec. 31, 2016

Dec. 31, 2017

(in million euros)

Other Products (1)

Other Products (1)

Stationery (1) Lighters Shavers

Total

Stationery (1) Lighters Shavers

Total

Income Statement Net sales •

2,026

2,020

780

696

467

82

792

704

454

70

Depreciation and • amortization Impairment loss •

(84)

(93)

(27)

(19)

(23)

(15)

(25)

(21)

(29)

(19)

( 1)

-

-

-

-

-

-

-

(1) 60

-

403

376

Income from operations •

68

275

69

(8)

54

278

(16)

Restatements made to obtain the normalized income from operations Retiree medical • adjustment in the United States

(1)

-

-

-

-

-

- 

- 

- 

- 

Restructuring costs • related to distribution reorganization in the Middle East and in the African regions Restructuring costs • related to U.S. sales force reorganization Restructuring costs • related to continuing

2

-

-

-

-

-

- 

- 

- 

- 

2

-

-

-

-

-

- 

- 

- 

- 

BIC Graphic operations

1 2

24

- -

- -

- -

- -

-

-  - 

-  - 

-  - 

-

Other •

- 

Normalized income • from operations

409

401

70

277

70

(8)

65

278

61

(3)

9

Special employee bonus •

4

2

3

-

-

-

-

-

-

Normalized income • from operations

excluding the impact of the special employee bonus

418

401

74

280

72

(8)

65

278

61

(3)

(1) The activities of BIC Graphic Europe and Developing Markets are now accounted and presented in the Stationery and Other Products categories.

177

BIC GROUP - 2017 REGISTRATION DOCUMENT