2021 Universal Registration Document

FINANCIAL STATEMENTS

Consolidated financial statements

2-2

Information on the income statement and assets by activity

As of Q1 2021, BIC has evolved its financial communication and KPIs to adapt to the Horizon plan. Normalised income from operations is replaced by Adjusted EBIT All indicators are determined according to IFRS, except for: adjusted income from operations, which is the EBIT 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;

capital additions, which are the purchases and internal ● generation of property, plant and equipment and intangible fixed assets for the period.

At December 31, 2021

At December 31, 2020

Other Products

Unallocated

Other Products

Unallocated

Stationery Lighters Shavers

costs Total

Stationery Lighters Shavers

costs Total

(in million euros)

Income statement Net sales •

576 618 404

30

- 1,628

684 719 401

28

- 1,832

Depreciation and • amortization

(34)

(26)

(33)

(21)

- (115)

(31)

(28)

(27)

(26)

- (112)

Impairment loss •

(42)

-

(2)

-

- (44)

-

-

-

-

-

-

• EBIT

(31)

226 51

(5)

(84)

157

41 267 56

(5)

92 452

Restatements made to obtain adjusted EBIT

Cello impairment on • property, plant & equipment and

42

-

-

-

-

42

-

-

-

-

-

-

trademark impairment in 2020 (see Note 9)

Restructuring costs • Impact of Covid-19 • Acquisition costs • Rocketbook

4

3 7

3 8

2 1

15 27

1

2

-

-

1 4

29

-

45

-

-

-

-

-

-

2

-

-

-

-

2

-

- - - -

- - -

- - - -

- - -

-

Acquisition costs - Other •

-

-

-

- - -

- - -

-

1

1

US Pensions •

(12)

(20)

(12)

(44)

-

-

Europe Pensions •

-

-

-

-

(4)

1

(4)

(7)

Clichy headquarters • sales capital gain PIMACO divestiture • capital gain

-

-

-

-

-

-

-

-

-

(168) (168)

-

-

-

-

-

-

(3)

-

-

-

-

(3)

Adjusted EBIT

33 216 50

(2)

(68)

229

37 270 58

(5)

(80) 280

As of December 31, 2021, BIC had identified Walmart group as a major customer with which it realized 10% of its net sales over the period.

213

• BIC GROUP - 2021 UNIVERSAL REGISTRATION DOCUMENT •