Group Presentation for Investors
Nine months 2016
27-APRIL-2016 Group and category highlights GROUP 9M 2016 KEY FIGURES
Net Sales: 1,692.9 million euros Consumer business (87% of total sales) +5.0%
+4.9% Developed Markets +4.0% +0.6% Developing Markets +7.0%
BIC Graphic As reported Constant (13% of total sales) +4.1% currency basis
Normalized* Income from Operations: 313.1 million euros (-8.8%) Normalized IFO Normalized IFO BIC Graphic margin excl. special 20.4% 19.2% margin 18.5% bonus
Consumer 21.2% 21.8%
special business . bonus Excl BIC Graphic -0.2% 1.2% 9M 2015 9M 2016 *See glossary 3 GROUP 9M 2016 KEY FIGURES
EPS*: -15.1% Net Cash Position
In euros In million euros
5.36 448.0 4.55 360.3
208.1
9M 2015 9M 2016 September 15 Dec. 15 September 16 *Group share 4 9M 2016 CONSUMER BUSINESS 1,476.0 million euros Net Sales
Change on a constant currency basis Breakdown by geography
+7.2% +4.7% +5.0% 31% 27% +3.2% DEVELOPING EUROPE MARKETS
Q1 2016 Q2 2016 Q3 2016 9M 2016
EUROPE +7.7%
NORTH AMERICA +1.8%
42% DEVELOPING +7.0% NORTH AMERICA MARKETS
5 BIC STATIONERY IN 9M 2016
In million euros Q1 2016 Q2 2016 Q3 2016 9M 2016 NET SALES Net Sales 156.0 230.7 184.4 571.1 Europe • High single-digit increase IFO 11.1 38.8 7.2 57.1 • Good Back-to-school sell-out, especially in France and UK Normalized IFO 11.1 40.3 7.2 58.6 • Market share gains in France for the 12th year in a row
North America Net Sales +7.9% • Low-single digit growth growth on a +6.1% +4.6% • Market share gains constant +4.0% +3.5% • Performance of our “Champion brands” currency +1.8% +2.5% +2.4% basis* Developing markets Q1 Q2 Q3 9M • Latin America: Low-single digit growth (strong Q3) • Middle-East and Africa: very strong growth • Cello Pens: stable domestic sales in a competitive environment (rationalization of our product portfolio and 17.5% 17.1% 10.8% focus on more value-added items) Normalized* 13.6% 14.0% 10.4% 10.3% IFO margin 7.1% 9.1% 3.9% NORMALIZED IFO
Q1 Q2 Q3 9M • Continued investment in Brand Support in Europe and North America • Increase in operating expenses *See glossary 2015 2016 Excl. Special bonus 6 BIC LIGHTERS IN 9M 2016
In million euros Q1 2016 Q2 2016 Q3 2016 9M 2016 NET SALES
Net Sales 163.6 177.2 167.6 508.5 Europe IFO 62.1 70.6 68.9 201.6 • Growth of nearly 10% • Good performances in Western Europe, especially in Normalized IFO 62.1 71.7 70.0 203.8 Germany and Austria • Very dynamic trends in Eastern Europe (distribution gains)
Net Sales North America growth on a +9.7% +9.3% +8.1% +6.5% Low single-digit growth constant +5.4% +5.4% +5.2% +5.7% • currency • Continued success of our added-value sleeved lighters basis*
Q1 Q2 Q3 9M Developing markets • Latin America: high single-digit growth 38.0% 40.6% 41.6% 40.5% 41.7% • Middle-East and Africa: double-digit growth 37.6% 39.5% 39.8% 39.7% 40.1% Normalized* IFO margin NORMALIZED IFO
Q1 Q2 Q3 9M • Higher Gross Profit margin
*See glossary 2015 2016 Excl. Special bonus 7 SHAVER MARKET EVOLUTION
% change vs YAG – value Western Europe USA June 2016 USA September 2016
+0.5%
-1.0% -3.3% -3.7% YTD June 2016 -4.6% -5.8% YTD September 2016
Total One Piece Refillable
Source: USA: IRI MULO – YTD December 2015 & September 2016 Europe: Nielsen – YTD December 2015 & June 2016 (France, Spain, Italy and Greece) 8 BIC SHAVERS IN 9M 2016
In million euros Q1 2016 Q2 2016 Q3 2016 9M 2016 NET SALES Net Sales 117.8 120.1 111.8 349.7 IFO 12.6 15.4 22.2 50.2 Europe • High single-digit growth Normalized IFO 12.6 16.6 22.2 51.4 • Good performance in Eastern Europe
North America Net Sales +14.7% • Stable net sales growth on a +10.9% +11.4% +9.5%+9.0% +10.3% 1 constant +7.1% • Market share gains : +1.9 points to 28.6% currency +1.4% • Successful new products launches and “best value for basis* money” positioning strategy Q1 Q2 Q3 9M Developing markets • Latin America: double digit growth • Middle-East and Africa: high-single digit growth 15.4% 21.3% 19.8% Normalized* 19.1% 17.0% 19.1% 12.9% 13.8% 14.7% IFO margin 10.7% NORMALIZED IFO
Q1 Q2 Q3 9M • Increased investment in research and development • Increased investment in brand support, notably in Europe, in the U.S. and in Latin America 2015 2016 • Positive FX impact on Gross Profit margin in Q3 *See glossary Excl. Special bonus 1 Source: IRI total market YTD through 25-SEPTEMBER-2016 (one-piece shavers) – in value terms. 9 YOUR LOGO HERE BIC GRAPHIC IN 9M 2016
In million euros Q1 2016 Q2 2016 Q3 2016 9M 2016 NET SALES Net Sales 64.1 69.5 83.3 216.9 IFO -9.0 1.4 6.7 -0.8 Sales of Writing Instruments and Hard Goods continued to be buoyed by our “Good Value” line and new products Normalized IFO -9.0 1.8 6.8 -0.4
+7.2% Net Sales +4.6% +4.1% +2.4% +1.8% growth on a +0.3% +0.0% Q3 2016 net sales were helped by a favourable timing impact in constant Calendars (i.e., earlier shipments when compared to last year) currency basis* -3.4% Q1 Q2 Q3 9M
8.2% 5.6% 2.5% 1.2% NORMALIZED IFO
Normalized* -0.2% -3.0% IFO margin -6.7% -0.9% • Lower operating expenses compared to 9M 2015 -9.3% -14.0% Q1 Q2 Q3 9M The review of the strategic alternatives for BIC Graphic is proceeding as planned. *See glossary 2015 2016 Excl. Special bonus 10 9M 2016 Consolidated results 9M 2016: FROM NET SALES TO NORMALIZED IFO
Change on a constant Change as currency BIC Group In million euros 9M 2015 9M 2016 reported basis*
Net Sales 1,682.3 1,692.9 +0.6% +4.9%
Gross Profit 842.6 845.9 +0.4%
Normalized* IFO 343.4 313.1 -8.8%
Income 345.7 307.7 -11.0% from Operations
*See glossary 12 KEY COMPONENTS OF Q3 2016 NORMALIZED* INCOME FROM OPERATIONS MARGIN
+1.9 -1.4 19.0% -0.7 18.8%
• Promotions and investments related to consumer and business development support accounted for in Gross Profit Margin : -0.4
• Advertising, consumer and trade support : -1.0
Q3 2015 Normalized* IFO margin Change in cost of production** Total brand support*** OPEX and other expenses Q3 2016 Normalized* IFO margin
*See glossary **Gross Profit margin excluding promotions and investments related to consumer and business development support. ***Total Brand Support: consumer and business development Support + advertising, consumer and trade support. 13 KEY COMPONENTS OF 9M 2016 NORMALIZED* INCOME FROM OPERATIONS MARGIN
20.4% +0.5 -1.0 -0.7 19.2% -0.7 18.5%
• Promotions and investments related to consumer and business • Impact on Gross development Profit: -0.4 support accounted for in Gross Profit • Impact in OPEX : Margin : -0.2 -0.3 • Advertising, consumer and trade support : -0.8
9M 2015 Normalized* IFO Change in cost of Total brand support*** OPEX and other expenses 9M 2016 Normalized* IFO Impact of the special 9M 2016 Normalized* IFO margin production** margin excluding the impact employee bonus margin of the special employee bonus
*See glossary **Gross Profit margin excluding promotions and investments related to consumer and business development support. ***Total Brand Support: consumer and business development support + advertising, consumer and trade support. 14 9M 2016 FROM IFO TO GROUP NET INCOME
In million euros 9M 2015 9M 2016 IFO 345.7 307.7 Unfavorable 9M 2016 fair value adjustments Finance revenue/costs 17.9 -2.2 to U.S. dollar denominated financial Income before Tax 363.6 305.4 assets when compared to December 2015. Income tax 109.2 91.7 Tax rate 30.0% 30.0%
Non-controlling interests 1.5 -
Net Income Group share 252.9 213.7
Number of shares outstanding net of treasury shares 47,180,102 46,955,299
EPS 5.36 4.55
15 BALANCE SHEET
BIC Group December September December September In million euros 2014 2015 2015 2016
Total Working Capital 594.7 629.0 605.2 672.1
Of which inventories 441.1 463.6 478.4 507.4
Of which Trade and other receivables 453.8 501.1 440.0 499.6
Of which Trade -119.1 -124.9 -126.7 and other payables -125.3
Inventories in days Receivables in days
72 164 69 162 66 158 160 65 155 63 151 60
December September December September December September December September December September December September 2013 2014 2014 2015 2015 2016 2013 2014 2014 2015 2015 2016 16 NET CASH POSITION
In million euros
Operations
+297.4 -79.1
-120.6 448.0 -277.0
-60.8 +0.2 208.1 Net Cash From Operating activities +218.3 M€
December 2015 Net Operating cash flow Change in working CAPEX Dividend payment Share buyback, Others September 2016 Net Cash Position capital and others exercise of stock Cash Position options and liquidity contract
17 2016 Increased investments to support medium- and long- term profitable growth 2011 – 2015 5 YEARS OF ROBUST OPERATIONAL PERFORMANCE
5 years Average Annual Organic 5 years Average Normalized Income 5 years Average Annual Free Cash Flow Growth*: +4.1% From Operation margin: 19.1% Generation*: 172.2 million Euros
+6.2% 19.7% 19.4% 19.3% 18.2% 18.7% 203.6 +4.9% 186.7 194.4 167.5 +3.6% +3.1% +2.8% 108.8
2011 2012 2013 2014 2015 2011 2012 2013 2014 2015 2011 2012 2013 2014 2015
* See glossary 19 2016 OUTLOOK
Continue to deliver solid sales growth
Increase investments in Brand Support and Research & Development
Accelerate Development CAPEX
20 STATIONERY IN 2016
New Products as % of Sales Leverage Champion Brands 23% 25% Focus on improving operations and building capacity to sustain growth in India (Cello Pens)
2010 2015
Champion Brands as % of Sales 45% 36%
2010 2015
21 LIGHTERS IN 2016
BIC® Lighters Net Sales Growth Continue to rely on our safety and best quality added-value lighters to gain distribution, notably Europe and Developing Sleeves CAGR: +10.8% Markets Leverage the added-value sleeve design • New special edition introduction • Marketing campaigns Total Lighters CAGR: +6.3%
2011 2012 2013 2014 2015
Sleeve as % of total Lighters sales 27% 26% 25% 24% 23% 20%
2010 2011 2012 2013 2014 2015
22 SHAVERS IN 2016
% of Value-added Products in total sales Launch of 2016 new products North America BIC® Soleil Shine™: BIC’s best technology, specifically designed to make 61% the shaving experience better and continue trading up women one-piece 49% users BIC® Hybrid Comfort 3™ (12 pack version): BIC’s best seller, now in an even better "value for money" offer 2011 2015 Latin America BIC® Miss Soleil Colour Collection: affordable performance now available in 4 vibrant colors
23 YOUR LOGO HERE BIC GRAPHIC IN 2016
Considering the recent evolution of the Promotional Products Industry’s environment, the Board has decided to initiate a review of strategic alternatives for BIC Graphic - Conclusions expected end of 2016
24 2016 - INCREASE INVESTMENTS IN BRAND SUPPORT AND RESEARCH & DEVELOPMENT
Brand Support to Research and Development in – Accompany New Product launches Product quality and performance – Reinforce positions in developing New technologies and new markets added-value products – Improve in-store visibility – Strengthen Brand awareness
25 ACCELERATE DEVELOPMENT CAPEX
Development* CAPEX 54% 60% 48% 47% 50% 41% 41% 38% 68 40%
28% 26% 30% 53 2016: 52 50 16% 20%
36 10% close to 60%
0% 22 22 24
-10% of total CAPEX 8 -20% 2007 2008 2009 2010 2011 2012 2013 2014 2015
Development* Capex in million euros Development* Capex as % of total Capex
*Capacity + new buildings and land + new products 26 CAPEX IN 2016 MAIN PROJECTS
Stationery Lighters Shavers Samer (FR) • Marne-La-Vallée (FR) Redon (FR) • Milford (USA) Manaus (BR) • Saltillo (MEX) Cello Pens (IN) Tarragona (SP) Athens (GR)
New buildings/ – Additional capacities Additional Molds Land – Extended R&D centers machines Tooling
27 2016 GROUP OUTLOOK
Mid-single digit growth in Net Sales (on a comparative basis)
Excluding major macro-economic disruptions or currency fluctuations, 100 to 150 basis points decline in Normalized Income From Operation margin* due to accelerated Brand Support and R&D investments aimed at fueling profitable medium- and long- term growth while we expect to maintain a strong Net Cash from operating activities.
*Excluding the special bonus that has been awarded to employees who have not been granted shares under our performance share plan. 28 2016 OUTLOOK … AIMED AT FUELING LONG-TERM STRATEGIC PRIORITIES
Continue to create long-term value Grow Normalized Income From Maintain strong cash generation to: by outperforming our markets Operations through increased Continue to grow the business and growing sales organically productivity as we invest organically low to mid-single digit thanks to: in our people and Brand Expanded distribution networks Support and in Research Finance strategic bolt-on in all geographies & Development with a focus acquisitions on quality and innovative new Increased focus on value-added Sustain total Shareholders’ segments in Developed markets products remuneration Enlarged consumer base in Developing markets
We offer simple, inventive and reliable choices to everyone, everywhere, every time
29 Group overview HISTORY AT A GLANCE
1950 …Marcel Bich launches the BIC® Cristal, the first high quality ballpoint pen at an affordable price
1954 …The Group starts its international expansion in Europe (Italy, UK, …), Latin America (Brazil) and North America (USA)
1969 …First step in Advertising & Promotional Writing Instrument (BIC graphic)
1973 First BIC® lighter
1975 First BIC® one piece shaver
Since the beginning, on-going product development (correction, luxury fountain pen, school fountain pen, imprinted promotional bags, …) and geographical expansion (Latin America, Eastern and Central Europe, …)
31 A BALANCED PORTFOLIO OF ACTIVITIES
FY 2015 sales breakdown by category
14% 33% 3%
20%
30%
32 INTERNATIONAL FOOTPRINT
FY 2015 sales breakdown by geography History
1950: France DEVELOPING EUROPE MARKETS 24% 1954: Italy 30% 1956: Brazil 1957: “Sterling” zone (UK, Australia…) 1958: USA, Africa, Middle East 1959: Scandinavian countries 1965: Japan, Mexico 1995: Eastern and Central Europe 1997: Expansion in Asia NORTH AMERICA 2009: India (Cello) 46%
33 CAPITAL OWNERSHIP (31-DEC-2015)
As of December 31, 2015, the total number of issued shares of SOCIÉTÉ BIC is 47,942,157 shares representing 69,464,111 voting rights.
1.62% TREASURY SHARES 42.72% BICH FAMILY (Voting rights: 59.79%)
55.66% PUBLIC
34 STRATEGIC ASSETS
Quality and Value product positioning
. A large and diversified product portfolio aimed at answering consumers’ needs
. Innovation: 12% of net sales through new products in 2015
. Recognized brands
. Historical international footprint - Present in more than 160 countries - 30% of 2015 net sales in developing countries
. An international, complete and solid distribution network
. On-going and sustained productivity improvement policy
. A solid balance sheet and a clear use of cash strategy
35 KEY STRENGTHS
Worldwide Balance Products Brand…S leadership Sheet
N°2 Stationery Simple cc.9% market share N°1 €263.6M Free Cash Reliable Lighters Flow generation*** cc. 50% market share** Inventive N°2 Shavers 20% market share* At the right Price of one-piece in USA and Europe €448.0M Net Cash Position at the end N°2 of 2015 Advertising & Promotional Products * One-piece shavers in major markets (US, Europe, Latin America) ** Outside Asia ***Before acquisition and disposals 36 STRONG INTERNATIONAL BRANDS
BIC Stationery brand unaided awareness rate
100 100 97 98 97 98 98 98 94 91
France United Kingdom Italy Spain Greece United-States Mexico Brazil South Africa Australia
37 MANUFACTURING NETWORK
86% of the BIC® products are produced in BIC owned factories
. 90% in the consumer product business
. 65% in the advertising and promotional product business
Cello Pens: 2 factories 38 BIC IN 2015 OPERATIONAL PERFORMANCE
19.7% 19.4% 19.3% 18.2% 18.7% 17.9% 17.4% 17.2% 15.3% 15.1% Normalized* IFO margin
5.9% 6.2% 4.6% 4.9% 3.6% 3.3% 3.1% 2.8% 1.6% -0.6%
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
Net Sales growth on a comparative basis
* See glossary 39 BIC IN 2015 CASH GENERATION
In million euros
297.2 263.6 239.4 221.9 225.7 204.6 203.6 194.4 179.1 185.4 186.7 167.5 147.8 145.7144.3 129.4 116.3 115.1 115.6108.8 99.4 99.5
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
Free Cash Flow Free Cash Flow before acquisitions and disposals* after acquisitions and disposals* * See glossary 40 CAPEX
5.3% 5.9% 6.6% 5.7% 5.7% 5.4% 3.4% 3.4% 4.9%
Other Development 125 121 112 Capex Capex 107 27% 41% 89 83 77 63 53
Maintenance Capex 2007 2008 2009 2010 2011 2012 2013 2014 2015 32% Total Capex to sales
*Capacity + new buildings and land + new products
41 USE OF NET CASH AND SHAREHOLDERS REMUNERATION
In million euros
298 264 58 239 226 205 15 74 185 179 182 53 91 85 49 121 51 31 146 129 13 116 1 135 99 25 58 64 68 122 65 101 104 72 65 80 49 42 40 26 17 26 2 8 2 8 10 14 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 Business divestiture Share buyback Free cash flow* Ordinary dividend Exceptional dividend Acquisition
* Estimates based on 31-DEC-2015 number of shares outstanding excluding treasury shares 42 USE OF CASH (1/2)
121 million euros CAPEX 1 in 2015 Invest to prepare the future Bolt-on strategic 74 million euros acquisitions in 2015
2007 2009 2009 2009 2011 2013 2014 2015
Atchison APP Cello Pens Norwood Angstrom Cello Pens Cello Pens Cello Pens Products Promotional (Partnership) Promotional Fuel Cell Majority stake Majority stake Majority stake Promotional products Writing instruments products Canada of 55% of 75% of 100% products Europe India USA USA
43 USE OF CASH (2/2)
In euros Dividend per share Special Dividend
2 3.40 2.85 2.60 2.50 PAY-OUT RATIO 2.20 2.56 Ensure a steady 1.90 1.80 1.35 1.40 49% based growth of the 1.00 1.15 1.30 1.35 0.90 1.00 on 2015 results ordinary dividend 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
In million euros 101.4 80.2 3 62.3 39.9 42.0 Special 25.7 26.3 10.2 Share 1.9 1.6 4 dividend buy-back 2007 2008 2009 2010 2011 2012 2013 2014 2015 YTD Sept. 2016
44 STATIONERY THE CONSUMER STATIONERY MARKET (1/3)
Total worldwide consumer stationery market = 8.6 billion Euros in 2015
Key geographical markets breakdown (in value) Breakdown by main segment (in value)
Others Correction India 6% 6% 4% Europe Coloring 26% 16%
Asia Pens 37% Marking 56% 17% Of which: North 23% Ball pens America 19% gel ink 18% Mechanical Latin pencils America 5% 9% All market shares are based on 2015 estimated suppliers net sales figures 46 THE CONSUMER STATIONERY MARKET (2/3)
10.0% Market trends by geographies (in value) Market growth (CAGR) 2015/2011
India Latin America
5.0%
North America Asia
Europe
0.0% BIC Estimates & Published Research Size in million euros 47 THE CONSUMER STATIONERY MARKET (3/3)
Total worldwide consumer stationery market = 8.6 billion Euros in 2015 Breakdown by main supplier (in value)
Schwan-Stabilo Others 1.8% Zebra 49.9% 2.0% Pentel 2.8% Crayola 3.5%
M&G (China) 4.4%
Faber Castle 4.4%
Mitsubishi 5.8% Newell 10.0% Pilot BIC* 6.2% 9.2%
BIC Estimate & Published Research – 2015 – Manufacturers figures – Pens, pencils, markers, coloring, correction * With Cello Pens 48 STATIONERY CONSUMER – BIC STRATEGY
Generate profitable growth through
Gaining market share in Developed countries (markets more or less flat) focusing on Champion Brands new products Accelerating sales growth in fast growing countries (markets up mid to high single digit) Developing geographical footprint Focus on giving “more for your money” to consumers through best quality at the right price Increased consumer-relevant innovation
49 STATIONERY CONSUMER: “QUALITY @ A BIC PRICE”
More than 3m outlets Historical Iconic worldwide* and close products relationship with the trade
Worldwide leadership Strong brands positions
Strong positions in major market segments Consumer trust for Innovation more than 50 years
* Outside Cello Pens 50 2010- 2015 BIC STATIONERY CONSUMER KEY FIGURES
FY 2015 FY 2015 €727.0M €83.7M Net Sales IFO
Net sales change on a comparative basis Average Volume +7.0% +6.0% +1.0% +0.3% +4.0% +2.0% +3.4% Value +6.7% +4.1% +2.6% +2.1% +4.2% +3.6% +3.9%
15.0% 14.0% 12.1% 12.7% 12.5% 11.5% 12.9%
2010 2011 2012 2013 2014 2015 Normalized IFO margin
51 BIC® PRODUCT RETAIL PRICE POSITIONNING
Ball pen Retail prices in France In euros
4.45 €
2.53 € 2.24 € 1.98 € 1.63 € 1.46 €
0.73 € 0.32 € 0.36 € 0.41 €
Cristal medium Cristal Fashion Cristal like me M10 4 coulours Atlantis soft Cristal stylus Learner bell pen 4 colours 4 colours stylus Shine/Decor/Fluo
Source : PVC recommended, 2016, BIC France CP, France Modern Mass Market
52 STATIONERY CONSUMER BIC POSITIONS IN MAJOR MARKET SEGMENTS*
N°1 in Ball Pen N°1 in Mechanical N°1 in correction N°2 in marking (21% market share) Pencils (19% market share) (5% market share) (13% market share)
N°1 in N°1 in Latin Western N°2 in the U.S. America Europe (15% market (21% market (18% market share) share) share)
*BIC Estimates – 2015 (in value) 53 LIGHTERS THE POCKET LIGHTER MARKET VOLUMES VS. VALUE
Volumes: 13.8 billion units Value: 4.9 billion euros
World Excl. Asia 35% 44% 56% 65%
Asia
BIC estimates for 2015 – Retail prices 55 THE POCKET LIGHTER MARKET KEY PLAYERS OUTSIDE ASIA
Market shares in volume outside Asia Market shares in value outside Asia
Of which Of which Swedish Match: 6% Flamagas: 6% Flamagas: 6% Swedish Match: 5% Tokkai: 1% Tokkai: 2% Asian 13% manufacturers 18%
32% BIC
cc. 57% 30% Other branded Lighters
cc.50%
BIC estimates for 2015 – Retail prices 56 OVERVIEW OF MANDATORY SAFETY REGULATION AROUND THE WORLD
ISO: 1989 2000 CR: 1995 2006 2011 1994 2005 CR: 1992 ISO: 2004 ISO: 1997 CR: 2016 1998 2003
2010
2007
ISO 9994 1997 2003 Child resistant 2006 2003 1999 ISO 9994 and Child Resistant
57 LONG TERM VIEW OF SAFETY REGULATION IMPACT ON LIGHTER SALES
Latin North Africa Asia Europe America* America* ISO 9994 conform lighters
Low quality lighters
Matches
* Real enforcement of the regulation 58 BIC LIGHTER – STRATEGY
Strengthen our position as the only lighter brand with worldwide strengths
By promoting the extension and the total enforcement of international safety standards
By accelerating the development of value-added products (sleeves, cases and utility lighters)
59 BIC LIGHTER N°1 BRANDED LIGHTER MANUFACTURER
Consumer preference (U.S.) Safety – Quality – Prevention & education
BIC 86%
Competitor A 10% More than 50 automatic Competitor B 8% vs. market quality controls average
Market leadership - Estimated market shares (in value) Integrated distribution network
> 70% cc. 50% > 65% Dedicated Customer Support Teams in all countries
< 30% Largest distribution network
Worldwide* Europe North America Latin America
* Excluding Asia 60 2006 – 2015 BIC LIGHTER KEY FIGURES
FY 2015 FY 2015 €675.7M €260.9M Net Sales IFO
Net sales change on a comparative basis Average Vol. -5.0% +3.0% +10.0% +8.0% +3.0% +3.8% +4.0% +5.0% +3.9% Value +5.6% +3.7% +0.8% +5.3% +11.6% +8.6% +4.3% +7.0% +8.3% +8.3% +6.4%
35.3% 38.9% 38.2% 36.2% 37.4% 37.0% 37.7% 34.0% 32.5% 32.1% 29.2%
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 Normalized IFO margin 61 BIC® LIGHTERS SALES EVOLUTION IN THE U.S.
Continue to leverage all growth drivers
2009-2015 : +6% In value +2 +3 +1 +1 106 100 -1
2009 Cigarette Other Combustible Sleeves trade-up Distribution Gains Price 2015 Consumption Consumption
62 BIC® LIGHTER RETAIL PRICE POSITIONNING
$1.59
1.32 € 1.28 € 1.13 € 0.98 € $0.79 0.73 €
0.41 € 0.28 €
Europe USA Brazil China (in euros) (in dollar) (in euros) (in euros)
BIC Other compliant lighter Non-compliant lighter Source: BIC (Reference J26 for Europe, USA, Brazil and J3 for China) Europe and Brazil : 2014 data – USA and China : 2015 data) 63 BIC® LIGHTER RETAIL PRICE PER FLAME
Based Indice 1
1.8
1.5 1.4 1.4 1.2 1.0 1.0 1.0 1.0
Europe USA Brazil China
BIC Other compliant lighter Non-compliant lighter Source: BIC (Reference J26 for Europe, USA, Brazil and J3 for China) Europe and Brazil : 2014 data – USA and China : 2015 data) 64 SHAVERS THE SHAVER MARKET (1/6)
Total wet shave market in 2015: 12.6 billion euros
DOUBLE EDGE 1%
ONE-PIECE 40%
REFILLABLE 59%
Source: Euromonitor + Industry publications 66 WET SHAVE MARKET – REGIONAL STRUCTURE
in value Disposable System
EUR NAM NAM EUR 20% Men 7% 7% 14% 74% MEA 1% OCE 1% LAM LAM ASIA ASIA 14% 7% MEA 3% 7% 1%
32% 49% Women 8% 8% NAM 26% EUR NAM EUR 4% 2% 4% 3%
ASIA LAM ASIA 1% 1% 1%
Source: Euromonitor 2015 / Internal EUR = Western Europe + Eastern Europe 67 THE SHAVER MARKET (3/6)
Wet Shave market trend (in billion euros)
12.6 12.0 12.0 10.8 11.0 10.2 9.1 9.5 8.2 8.6
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
Source: Euromonitor + Industry publications 68 THE SHAVER MARKET (4/6)
Global Wet Shave Source of Growth – in value (CAGR 2008 to 2015)
40% 33% 27% Trading Up & Price Increase Consumption Population Growth Growth
2008 2015 Source: Euromonitor 2015 + Internal estimate 69 THE SHAVER MARKET (5/6)
Market evolution towards more value-added products (in value)
Western Europe USA Single Blade Twin Blades Triple Blades and More Single Blade Twin Blades Triple Baldes and More
86% 80% 72%
50%
46% 25% 14% 16% 4% 0% 4% 3% 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
Source: USA = IRI MULO FY 2015 Europe = AC Nielsen All countries FY 2015 70 THE SHAVER MARKET (6/6)
Market evolution towards more value-added products (in value)
Brazil 87% Single Blade Twin Blades Triple Blades and More
65%
30%
9% 4% 5%
2007 2008 2009 2010 2011 2012 2013 2014 2015 Source: AC Nielsen FY 2014 71 SHAVERS - STRATEGY
Strengthen our foundation in one-piece A complete and successful range of one-piece three, four and five-blade products for men (BIC 3™, Comfort 3™, Hybrid 3™, Flex 3™, Flex 4™, Flex 5™…)
A strong franchise in the women’s segment with the BIC® Soleil® Brand
Products offering a better value
Great value for money positioning
72 2006 – 2015 BIC SHAVER KEY FIGURES
FY 2015 FY 2015 €452.0M €83.3M Net Sales IFO
Net sales change on a comparative basis Average Volume +0.0% -4.0% +7.0% +3.0% +3.0% +3.8% +4.0% +1.0% +2.2% Value +6.2% +9.2% +3.9% +2.4% +7.6% +9.1% +10.1% +6.5% +4.1% +11.9% +7.1%
18.5% 18.0% 17.8% 17.1% 17.0% 13.7%
14.2% 12.5% 9.9% 8.2%
4.1%
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 Normalized IFO margin 73 ONE-PIECE MARKET SHARES IN EUROPE (16 COUNTRIES)
In volume In value
38% 51%
18% 15% 19% 16%
Gillette BIC Schick Gillette BIC Schick
Source: IRI Nielsen - Last 52 weeks ending December 2015 (Europe 16 countries) 74 ONE-PIECE MARKET SHARES IN USA
In volume In value
38% 31%
25% 27%
16% 11%
Gillette BIC Schick Gillette BIC Schick
Source: IRI Nielsen - Last 52 weeks ending December 2015 75 ONE-PIECE MARKET SHARES IN BRAZIL
In volume In value
70% 78%
22% 17%
1% 1% Gillette BIC Schick Gillette BIC Schick
Source: IRI Nielsen - Last 52 weeks ending December 2015 76 BIC MARKET SHARES IN 3 AND MORE BLADES* DISPOSABLE SHAVERS SEGMENT
In volume In value
33% 31% 28% 29% 25% 20%
Europe United States Brazil Europe United States Brazil
Source: IRI Nielsen AC Nielsen and BIC estimates (December 2015) *Europe and Brazil : 3 and 4 blades / United States : 3, 4 and 5 blades 77 SHAVERS: QUALITY AND INNOVATION AT A REASONABLE PRICE
3, 4 & 5 blades women One-piece – US (USD) 3, 4 & 5 blades men One-piece – US (USD)
Venus Embrace Disposable 3.66 Hydro 5 3.33 Hydro Silk Disposable 3.33 Flex 5 2.83 BIC Soleil Shine 3.00 Mach 3 2.33 Venus Disposable 2.33 BIC Flex 4 2.00 BIC Soleil Glow 2.00 Sensor 3 1.50 Quattro Disposable 2.00 BIC Flex 3 1.25 BIC Soleil Bella 2.00 Extreme 3 1.25 Simply Venus 3B 1.50 Hybrid 3 Comfort 1.00 BIC Soleil Twilight 1.37 Sensor 2 0.67 BIC Silky Touch 0.30 Comfort 3 0.65 Slim twin 0.50 Women’s Refillable – US (USD) A complete and well price-positioned range Quattro System 3.10 of one-piece triple-blade products for men
Venus System 2.87 A strong franchise with products offering a better value in the women’s segment
Walmart non-promoted price per unit - Ending September 2016 78 BIC GRAPHIC YOUR LOGO ADVERTISING AND PROMOTIONAL PRODUCTS HERE HISTORY AND DEFINITION
Items used to advertise and promote a product, a service or a company program
Advertising specialties Premiums Incentives Business gifts Awards Prizes Commemoratives Imprinted/decorated items
80 YOUR LOGO ADVERTISING AND PROMOTIONAL PRODUCTS HERE A LARGE AND GROWING BUSINESS
Estimated Supplier market size Between €14-16 bn Euros
14% REST OF THE WORLD
57% USA 29% EUROPE
Source: PPAI and BIC estimates for 2015 81 YOUR LOGO ADVERTISING AND PROMOTIONAL PRODUCTS HERE A STRUCTURED BUT FRAGMENTED INDUSTRY 1 2 3 4 Supplier Distributor Company End-user Brand awareness End-user Traditional outside sales Employee relations & events team Tradeshows Fulfillment programs, Door-to-door sales, Public relations End-user Manufacturing Friends and family New customer acquisition Dealer/distributor programs Direct Marketing New product/service introduction WEB, Catalogs, End-user Assembly Samples, Telesales Employee service awards Not-for-profit programs Sourcing Internal promotions End-user Special markets Safety education/incentive Hotel & lodging, Multiple printing Pharmaceutical, Customer referral applications Tobacco, Government Marketing research End-user Products are sold blank or imprinted
82 YOUR LOGO ADVERTISING AND PROMOTIONAL PRODUCTS HERE A STRUCTURED BUT FRAGMENTED INDUSTRY
Alphabroder (6.3%)* SanMar (5.8%) * Polyconcept North America (4.1%) 2014 US suppliers Bic Graphic North America (2.5%) Hit Promotional Products (2.1%) estimated market Ennis (2.0%) share Bodek and Rhodes (2.0%)* Others S & S Activewear (1.6%)* Staton Corporate and Casual (1.0%)* Sunscope/Aprinta (0.9%) 71.6%
* mainly Apparel oriented
Staples Promotional Products 2.1% 4 Imprint 1.9% Proforma 1.7% 2014 US distributors BDA 1.2% estimated market Group II Communications/IMS 1.2% share Halo Branded Solutions 1.0% AIA Corporation 0.8% Geiger 0.8% Others National Pen Corporation 0.7% 87.9% Cintas 0.7% 83 YOUR LOGO ADVERTISING AND PROMOTIONAL PRODUCTS HERE A STRUCTURED BUT FRAGMENTED INDUSTRY
Estimated North American sales by product category
Buttons/Badges Sporting Goods Automotives Clocks and Watches Gift cards 2.0% 1.8% Games 1.6% 1.2% 0.4% Magnets S ti cke rs 1.7% 1.9% Others 1.7% 5.2% Personnal 1.4% Food 1.7% Electronics 1.6% Housewares Wearables Textiles 2.4% 27.8% 2.6% Health & Safety products 2.3% Calendars 3.3% Computers 4.1%
Awards Bags 4.9% 7.6% De sk/Offi ce /B u si n e ss Accessories Writing Instruments Drinkware 4.9% 10.4% 7.6% Source: PPAI 84 YOUR LOGO HERE BIC GRAPHIC
Mainly Internal growth Mainly External growth
1969 1970 2006 2007 2009
Products & geographical Antalis Norwood BIC enters the diversification Atchison Promotional Promotional Promotional Products (Europe, USA, (USA) Products Products Business Latin America) (Europe) (USA)
Full range of imprinted & non imprinted products
Complete range of non imprinted products
Imprinted bags
Imprinted lighters, sticky notes, drinkware, …
Imprinted Writing Instruments
85 YOUR LOGO HERE BIC GRAPHIC - HIGHLIGHTS AND KEY FIGURES
BIC Graphic Net Sales Breakdown by Products Category Full Year 2015
CALENDARS HARD GOODS 19% 32%
STATIONARY 49%
86 YOUR LOGO HERE 2009 - 2015 BIC GRAPHIC KEY FIGURES
FY 2015 FY 2015 €319.3M €13.1M Net Sales IFO
Net sales change on a comparative basis -18.9% -3.3% -10.4% -9.2% -5.0% +2.5% +1.6%
10.4% 9.2% 7.8% 7.1%
4.3% 3.5% 3.3%
2009 2010 2011 2012 2013 2014 2015
Normalized IFO margin
87 Sustainable Development MEASURE…
Items used to advertise and promote a product, a service or a company program
BIC® Cristal® 88% 7% 4% - 1% Pen
Lighter BIC® 87% 6% 5% - 2% Maxi
BIC® Classic Single-blade 83% 11% 4% - 2% Shaver
(shaver inc.usage) 78%
89 … TO ECO-DESIGN …
Take into account our main impact: use of non renewable raw materials
1 Light and long lasting Reduce to the raw products material weight
2 Maximum increase Refillable products of the duration of use
3 Recycled plastic and metal Use alternative Plastic from vegetal origin materials
90 … OUR PRODUCTS
A trendsetting range Light and long-lasting products overcoming the paradox of disposable vs. long-lasting
Eco-values on packaging for stationery products
91 FRENCH ECOLABEL NF ENVIRONNEMENT BIC FIRST MANUFACTURER TO BE CERTIFIED
Cristal® Fine Clic Stic™
Orange™ Fine BIC Matic
Evolution™ 650 Cristal® Medium (uniquement en boîtes)
Evolution™ 655 Atlantis® Clic (in box only)
Evolution™ coloring
4 Couleurs™ Evolution™ coloring Triangle
4 Couleurs™ fine BIC® Kids Visacolor™ XL
4 Couleurs™ pro & 4 Colors™ Counter Pen Evolution™ Black
92 AN EXAMPLE OF ECODESIGN: THE BIC® EASY SHAVER
Ecodesign allowed to create a shaver with: . Less material 1st step: . With the same characteristics, therefore the same perception of quality by the consumer
Reducing the quantity -20% of material
BIC® C3 ® AdvanceTM BIC® Easy
BIC® EASY 1 lighweight handle sold with 6 heads 2nd step: = +
Have a longer 60 days of shaving duration -59% of use of environnemental Impact on the duration = of use
93 Appendix 9M 2016 NET SALES MAIN EXCHANGE RATE EVOLUTION VS. EURO
Average Average Average Average rate rate rate rate % of sales Q3 2015 Q3 2016 % of change % of sales 9M 2015 9M 2016 % of change US Dollar 47% 1.11 1.12 -0.4% US Dollar 46% 1.11 1.12 -0.1% Brazilian Real 9% 3.90 3.62 7.5% Brazilian Real 7% 3.50 3.95 -11.3% Mexican Peso 4% 18.20 20.95 -13.1% Mexican Peso 5% 17.32 20.45 -15.3% Argentina 1% 10.27 16.70 -38.5% Argentina 1% 9.99 16.27 -38.6% Canadian dollar 3% 1.45 1.46 -0.5% Canadian dollar 3% 1.40 1.47 -4.9% Australian dollar 2% 1.53 1.47 3.8% Australian dollar 2% 1.46 1.50 -3.0% South African Zar 1% 14.38 15.70 -8.4% South African Zar 1% 13.66 16.69 -18.1% Indian Rupee 3% 72.14 74.72 -3.5% Indian Rupee 3% 70.80 74.93 -5.5% Non Euro European countries 7% Non Euro European countries 6% Sweden 9.42 9.51 -1.0% Sweden 9.37 9.38 -0.1% Russia 69.75 72.07 -3.2% Russia 66.40 76.09 -12.7% Poland 4.19 4.34 -3.5% Poland 4.16 4.36 -4.6% British Pound 0.72 0.85 -15.7% British Pound 0.73 0.80 -9.4%
95 9M 2016 NET SALES BREAKDOWN BY CATEGORY
13% 34% BIC GRAPHIC STATIONERY
2% OTHER CONSUMER PRODUCTS
21% SHAVERS
30% LIGHTERS
96 9M 2016 NET SALES BREAKDOWN BY GEOGRAPHY
28% 25% DEVELOPING MARKETS EUROPE
47% NORTH AMERICA
97 Q3 2016 NET SALES EVOLUTION
In million euros FX translation impact 548.3 +3.8% -1.7% 559.6
-9 M€
USD: -1 M€ BRL: +3 M€ ARS : -3 M€ MXN: -4 M€ ZAR : -1 M€ INR : -1 M€ RUB & UAH: -1 M€ Others: -1 M€ Q3 2015 Net Sales Change on a constant currency FX translation impact Q3 2016 Net Sales basis
98 9M 2016 NET SALES EVOLUTION
In million euros FX translation impact
1,682.3 +4.9% -4.3% 1,692.9
-72 M€
USD: -2 M€ BRL: -16 M€ ARS : -15 M€ MXN: -15 M€ ZAR : -4 M€ INR : -3 M€ RUB & UAH: -3 M€ Others: -14 M€ 9M 2015 Net Sales Change on a constant currency FX translation impact 9M 2016 Net Sales basis
99 GROUP QUARTERLY FIGURES
In million euros Q1 13 Q2 13 Q3 13 Q4 13 FY 13 Q1 14 Q2 14 Q3 14 Q4 14 FY 14 Q1 15 Q2 15 Q3 15 9M 15 Q4 15 FY 15 Q1 16 Q2 16 Q3 16 9M 16
Net Sales 428.6 508.9 470.4 479.9 1,887.8 434.2 534.3 496.8 513.8 1,979.1 510.8 623.1 548.3 1,682.3 559.4 2,241.7 517.3 616.0 559.6 1,692.9
YoY actual changes -3.7% +1.6% -3.8% +3.4% -0.6% +1.3% +5.0% +5.6% +7.1% +4.8% +17.6% +16.6% +10.4% +14.8% +8.9% +13.3% +1.3% -1.1% 2.1% 0.6% YoY changes on a constant currencies -0.7% +4.1% +3.5% +11.4% +4.6% +6.2% +5.2% +4.1% +5.1% +6.9% +5.6% +6.9% +4.2% +3.8% +4.9% basis*
YoY changes on a comparative basis* 0.0% +4.1% +3.5% +6.7% +3.6% +4.5% +7.6% +2.6% +4.8% +4.9% +6.8% +5.8% +4.8% +5.8% +7.3% +6.2% +6.9% +4.2% +3.8% +4.9%
IFO 65.2 103.2 96.4 74.4 339.2 73.0 123.7 94.7 77.9 369.3 97.6 143.9 104.2 345.7 94.2 439.9 76.4 127.3 104.0 307.7
Normalized IFO* 66.7 103.3 95.8 78.4 344.2 73.0 111.6 94.7 90.6 370.0 101.8 137.4 104.2 343.4 88.6 432.0 76.4 131.6 105.2 313.1
IFO margin 15.2% 20.3% 20.5% 15.5% 18.0% 16.8% 23.1% 19.1% 15.2% 18.7% 19.1% 23.1% 19.0% 20.5% 16.8% 19.6% 14.8% 20.7% 18.6% 18.2%
Normalized IFO margin* 15.6% 20.3% 20.4% 16.3% 18.2% 16.8% 20.9% 19.1% 17.6% 18.7% 19.9% 22.1% 19.0% 20.4% 15.8% 19.3% 14.8% 21.4% 18.8% 18.5%
Income before tax 65.0 104.9 98.9 77.1 345.8 74.5 123.7 96.2 86.1 380.4 110.3 142.9 110.3 363.6 103.1 466.7 73.0 127.3 105.2 305.4
Net Income Group Share 45.2 72.9 68.5 54.9 241.5 50.1 85.6 66.6 59.7 262.1 77.2 99.3 76.3 252.9 72.1 325.1 51.0 89.1 73.6 213.7
EPS Group Share 0.95 1.54 1.45 1.17 5.13 1.07 1.82 1.42 1.27 5.57 1.64 2.10 1.62 5.36 1.53 6.89 1.08 1.89 1.57 4.55
*See glossary 100 GROUP QUARTERLY FIGURES BY GEOGRAPHY
In million euros Q1 13 Q2 13 Q3 13 Q4 13 FY 13 Q1 14 Q2 14 Q3 14 Q4 14 FY 14 Q1 15 Q2 15 Q3 15 9M 15 Q4 15 FY 15 Q1 16 Q2 16 Q3 16 9M 16
Europe 109.6 154 119.9 110.2 493.8 111.4 153.7 130.2 113.9 509.1 117.6 160.0 131.4 408.9 118.9 527.8 126.4 170.1 131.4 428.0 Net Sales
YoY actual changes -1.7% 7.2% -0.8% +1.6% +1.9% +1.6% -0.2% +8.5% +3.3% +3.1% +5.5% +4.1% +0.9% +3.5% +4.4% +3.7% +7.5% +6.3% +0.1% +4.7% YoY changes on a comparative +1.5% +7.6% +1.0% +2.5% +3.4% +2.6% +0.7% +8.7% +6.0% +4.3% +7.3% +5.0% +3.5% +5.1% +5.7% +5.3% +9.1% +8.7% +2.6% +6.8% basis*
North America 174.6 212.5 219.9 195.6 802.6 169.4 225.1 220.7 214.9 830.1 220.9 290.5 268.7 780.2 259.9 1,040.1 235.9 290.3 271.1 797.2 Net Sales
YoY actual changes -2.7% -1.1% -2.2% -1.6% -1.9% -3.0% +6.0% +0.4% +9.8% +3.4% +30.4% +29.0% +21.7% +26.8% +21.0% +25.3% +6.8% -0.1% +0.9% +2.2%
YoY changes on a comparative -2.1% +1.1% +3.9% +3.5% +1.8% +1.4% +11.5% +0.9% +1.4% +4.0% +8.1% +4.9% +2.9% +5.0% +6.8% +5.5% +5.1% +2.3% +1.3% +2.8% basis*
Developing markets 144.4 142.4 130.7 174 591.3 153.4 155.4 145.9 185.1 639.8 172.3 172.6 148.3 493.2 180.6 673.8 154.9 155.6 157.1 467.7 Net Sales
YoY actual changes -6.3% +0.1% -8.7% +11.0% -0.8% +6.3% +9.2% +11.7% +6.4% +8.2% +12.3% +11.0% +1.6% +8.5% -2.4% +5.3% -10.1% -9.8% +6.0% -5.2%
YoY changes on a comparative +1.5% +5.2% +4.9% +13.7% 6.4% +9.6% +9.1% -0.2% +7.9% +6.8% +5.2% +8.0% +9.0% +7.4% +8.9% +7.8% +7.7% +3.3% +9.2% +6.6% basis*
*See glossary 101 GROUP CONSUMER
In million euros Q1 13 Q2 13 Q3 13 Q4 13 FY 13 Q1 14 Q2 14 Q3 14 Q4 14 FY 14 Q1 15 Q2 15 Q3 15 9M 15 Q4 15 FY 15 Q1 16 Q2 16 Q3 16 9M 16
Net Sales 375.7 446.8 401.0 396.5 1,619.9 382.6 475.0 426.0 420.0 1,703.6 449.7 551.7 470.0 1,471.5 450.9 1,922.4 453.1 546.6 476.3 1476.0
YoY actual changes -2.4% +3.0% -3.1% +5.7% +0.8% +1.8% +6.3% +6.2% +5.9% +5.2% +17.6% +16.2% +10.3% +14.6% +7.3% +12.8% +0.8% -0.9% +1.3% +0.3%
YoY changes on a constant +0.9% +5.7% +4.5% +14.7% +6.3% +11.7% +12.8% +7.2% +3.9% +9.0% +6.7% +5.6% +5.3% +5.8% +7.4% +6.2% +7.2% +4.7% +3.2% +5.0% currencies basis* YoY changes on a comparative +0.9% +5.7% +4.5% +8.9% +5.2% +4.9% +8.6% +2.7% +4.6% +5.3% +7.4% +6.3% +6.2% +6.6% +7.9% +6.9% +7.2% +4.7% +3.2% +5.0% basis*
IFO 69.4 102.6 92.5 69.3 333.8 76.7 124.7 91.2 67.1 359.7 101.7 144.5 99.8 346.1 80.7 426.7 85.4 125.9 97.3 308.5
Normalized IFO* 69.6 102.0 91.8 69.2 332.6 76.7 112.5 91.2 79.8 360.3 106.0 139.5 99.8 345.3 76.3 421.5 85.4 129.8 98.4 313.6
IFO margin 18.5% 23.0% 23.1% 17.5% 20.6% 20.1% 26.3% 21.4% 16.0% 21.1% 22.6% 26.2% 21.2% 23.5% 17.9% 22.2% 18.8% 23.0% 20.4% 20.9%
Normalized IFO margin* 18.5% 22.8% 22.9% 17.5% 20.5% 20.1% 23.7% 21.4% 19.0% 21.1% 23.6% 25.3% 21.2% 23.5% 16.9% 21.9% 18.8% 23.8% 20.6% 21.2%
*See glossary 102 STATIONERY
In million euros Q1 13 Q2 13 Q3 13 Q4 13 FY 13 Q1 14 Q2 14 Q3 14 Q4 14 FY 14 Q1 15 Q2 15 Q3 15 9M 15 Q4 15 FY 15 Q1 16 Q2 16 Q3 16 9M 16
Net Sales 129.7 188.2 150.5 148 616.4 144 212 169.2 151.7 676.9 157.1 233.2 184.3 574.6 152.4 727.0 156.0 230.7 184.4 571.1
YoY actual changes -6.1% +0.4% -6.6% +12.9% -0.2% +11.0% +12.6% +12.5% +2.5% +9.8% +9.1% +10.0% +8.9% +9.4% +0.5% +7.4% -0.7% -1.1% +0.1% -0.6%
YoY changes on a constant +23.9% +17.9% +12.5% +1.1% +13.8% -0.2% +1.1% +4.0% +1.7% +2.9% +1.9% +7.9% +4.0% +2.4% +4.6% currencies basis* YoY changes on a comparative -2.3% +2.3% +0.3% +8.6% 2.1% +4.2% +8.0% +0.5% +3.0% +4.2% +1.8% +2.5% +6.1% +3.5% +4.3% +3.6% +7.9% +4.0% +2.4% +4.6% basis*
IFO 13.1 33.3 19.6 13.4 79.4 15.6 40 18.4 9.0 83.0 19.8 40.7 19.2 79.7 4.0 83.7 11.1 38.8 7.2 57.1
Normalized IFO* 13.1 33.2 19.6 12.5 78.3 15.6 36.5 18.4 14.0 84.5 21.3 39.9 19.2 80.4 3.1 83.4 11.1 40.3 7.2 58.6
IFO margin 10.1% 17.7% 13.0% 9.1% 12.9% 10.8% 18.9% 10.8% 5.9% 12.3% 12.6% 17.5% 10.4% 13.9% 2.6% 11.5% 7.1% 16.8% 3.9% 10.0%
Normalized IFO margin* 10.1% 17.6% 13.0% 8.4% 12.7% 10.8% 17.2% 10.8% 9.3% 12.5% 13.6% 17.1% 10.4% 14.0% 2.0% 11.5% 7.1% 17.5% 3.9% 10.3%
*See glossary 103 LIGHTERS
In million euros Q1 13 Q2 13 Q3 13 Q4 13 FY 13 Q1 14 Q2 14 Q3 14 Q4 14 FY 14 Q1 15 Q2 15 Q3 15 9M 15 Q4 15 FY 15 Q1 16 Q2 16 Q3 16 9M 16
Net Sales 137.4 139.6 136.1 144.7 557.8 133.6 145.8 143.6 158.6 581.6 163.5 178.4 158.8 500.7 175.0 675.7 163.6 177.2 167.6 508.5
YoY actual changes +0.5% +3.4% +0.4% +0.6% +1.2% -2.8% +4.4% +5.5% +9.6% +4.3% +22.3% +22.4% +10.6% +18.4% +10.3% +16.2% +0.1% -0.7% +5.6% +1.5%
YoY changes on a comparative basis* +3.6% +6.9% +9.4% +8.2% +7.0% +6.4% +12.7% +7.3% +7.0% +8.3% +9.7% +9.3% +5.2% +8.1% +8.9% +8.3% +5.4% +5.4% +6.5% +5.7%
IFO 46.3 54.1 54.1 52.7 207.2 48.9 67.4 54.4 55.6 226.4 61.0 75.6 63.2 199.8 61.1 260.9 62.1 70.6 68.9 201.6
Normalized IFO* 46.4 53.9 54.1 51.7 206.2 48.9 60.1 54.4 55.9 219.3 61.4 74.2 63.2 198.8 59.0 257.9 62.1 71.7 70.0 203.8
IFO margin 33.7% 38.8% 39.7% 36.4% 37.1% 36.6% 46.3% 37.9% 35.1% 38.9% 37.3% 42.3% 39.8% 39.9% 34.9% 38.6% 38.0% 39.8% 41.1% 39.6%
Normalized IFO margin* 33.8% 38.6% 39.7% 35.7% 37.0% 36.6% 41.2% 37.9% 35.3% 37.7% 37.6% 41.6% 39.8% 39.7% 33.7% 38.2% 38.0% 40.5% 41.7% 40.1%
*See glossary 104 SHAVERS
In million euros Q1 13 Q2 13 Q3 13 Q4 13 FY 13 Q1 14 Q2 14 Q3 14 Q4 14 FY 14 Q1 15 Q2 15 Q3 15 9M 15 Q4 15 FY 15 Q1 16 Q2 16 Q3 16 9M 16
Net Sales 91.4 98.7 98.6 88.9 377.5 88.9 98.1 97.9 95.1 380 112.4 117.8 113.0 343.2 108.8 452.0 117.8 120.1 111.8 349.7
YoY actual changes -1.3% +6.0% -3.8% +4.1% +1.1% -2.7% -0.6% -0.7% +7.0% +0.7% +26.5% +20.0% +15.4% +20.4% +14.5% +18.9% +4.8% +2.0% -1.1% +1.9%
YoY changes on a comparative +2.1% +9.5% +3.9% +11.2% +6.5% +5.1% +6.3% +0.8% +4.5% +4.1% +14.7% +9.5% +10.3% +11.4% +13.3% +11.9% +10.9% +9.0% +1.4% +7.1% basis*
IFO 13.6 16 20.8 14.9 65.3 15.5 18.9 19.2 11.1 64.7 21.4 23.4 19.2 64.0 19.4 83.3 12.6 15.4 22.2 50.2
Normalized IFO* 13.6 15.8 20.8 14.1 64.3 15.5 17.6 19.2 15.4 67.7 23.9 22.5 19.2 65.6 18.0 83.6 12.6 16.6 22.2 51.4
IFO margin 14.9% 16.2% 21.1% 16.8% 17.3% 17.4% 19.3% 19.6% 11.6% 17.0% 19.0% 19.8% 17.0% 18.6% 17.8% 18.4% 10.7% 12.8% 19.8% 14.4%
Normalized IFO margin* 14.9% 16.0% 21.1% 15.8% 17.0% 17.4% 18.0% 19.6% 16.2% 17.8% 21.3% 19.1% 17.0% 19.1% 16.5% 18.5% 10.7% 13.8% 19.8% 14.7%
*See glossary 105 OTHER CONSUMER PRODUCT
In million euros Q1 13 Q2 13 Q3 13 Q4 13 FY 13 Q1 14 Q2 14 Q3 14 Q4 14 FY 14 Q1 15 Q2 15 Q3 15 9M 15 Q4 15 FY 15 Q1 16 Q2 16 Q3 16 9M 16
Net Sales 17.2 20.3 15.9 14.9 68.2 16.1 19.1 15.3 14.6 65.1 16.8 22.3 13.9 53.0 14.6 67.6 15.7 18.6 12.5 46.9
YoY actual changes -2.2% +12.0% +7.2% +0.9% +4.6% -6.0% -5.8% -3.7% -1.9% -4.5% +4.1% +16.8% -8.9% 4.9% +0.2% +3.9% -6.2% -16.6% -10.0% -11.6%
YoY changes on a comparative +22.6% +13.0% +10.8% +3.9% +12.5% -2.6% -3.2% -2.9% -2.2% -2.8% -1.6% +8.5% -10.9% -0.6% -0.1% -0.5% -5.2% -15.3% -9.5% -10.6% basis*
IFO* -3.6 -0.9 -1.8 -11.8 -18.1 -3.2 -1.7 -0.8 -8.6 -14.3 -0.5 4.9 -1.8 2.6 -3.8 -1.2 -0.4 1.1 -1.0 -0.3
Normalized IFO* -3.6 -0.9 -2.6 -9 -16.1 -3.2 -1.7 -0.8 -5.6 -11.3 -0.7 2.9 -1.8 0.4 -3.8 -3.4 -0.4 1.2 -1.0 -0.2
*See glossary 106 YOUR LOGO HERE BIC GRAPHIC
In million euros Q1 13 Q2 13 Q3 13 Q4 13 FY 13 Q1 14 Q2 14 Q3 14 Q4 14 FY 14 Q1 15 Q2 15 Q3 15 9M 15 Q4 15 FY 15 Q1 16 Q2 16 Q3 16 9M 16
Net Sales 53 62.1 69.4 83.4 267.9 51.7 59.3 70.8 93.8 275.6 61.1 71.4 78.3 210.8 108.5 319.3 64.1 69.5 83.3 216.9
YoY actual changes -11.9% -7.5% -7.1% -6.4% -8.0% -2.5% -4.4% +1.9% +12.5% +2.9% +18.3% +20.4% +10.7% +16.0% +15.7% +15.9% +5.0% -2.7% +6.3% +2.9%
YoY changes on a comparative -11.2% -6.0% -2.3% -2.3% -5.0% +1.4% +0.1% +1.9% +5.7% +2.5% +2.4% +1.8% -3.4% 0.0% +4.6% +1.6% +4.6% +0.3% +7.2% +4.1% basis*
IFO -4.2 0.6 3.8 5.1 5.4 -3.8 -1 3.6 10.8 9.6 -4.1 -0.6 4.3 -0.4 13.5 13.1 -9.0 1.4 6.7 -0.8
Normalized IFO* -2.9 1.3 4 9.2 11.6 -3.7 -0.9 3.6 10.8 9.7 -4.1 -2.1 4.3 -1.9 12.3 10.4 -9.0 1.8 6.8 -0.4
IFO margin -7.9% 1.0% 5.5% 6.1% 2.0% -7.3% -1.8% 5.0% 11.5% 3.5% -6.7% -0.9% 5.6% -0.2% 12.5% 4.1% -14.0% 2.0% 8.1% -0.4%
Normalized IFO margin* -5.4% 2.0% 5.8% 11.0% 4.3% -7.2% -1.6% 5.0% 11.5% 3.5% -6.7% -3.0% 5.6% -0.9% 11.3% 3.3% -14.0% 2.5% 8.2% -0.2%
*See glossary 107 MISCELLANEOUS
Capital evolution: As of September 30, 2016, the total number of issued shares of SOCIÉTÉ BIC was 47,971,871 shares, representing: • 69,532,912 voting rights, • 68,368,413 voting rights excluding shares without voting rights.
Total treasury shares at the end of September 2016: 1,164,499.
108 GLOSSARY
On a constant currency basis: • Constant currency figures are calculated by translating the current year figures at prior year monthly average exchange rates Comparative basis: • On a constant currency basis and constant perimeter Normalized IFO: • Normalized means excluding non-recurring items Normalized IFO margin • Normalized IFO divided by net sales. Free cash flow before acquisitions and disposals: • Net cash from operating activities - net capital expenditures +/- other investments Free cash flow after acquisitions and disposals: • Net cash from operating activities - net capital expenditures +/- other investments – acquisitions/disposals of equity investments / subsidiaries/business lines. Net Cash from operating activities: principal revenue-generating activities of the entity and other activities that are not investing or financing activities Net cash position: Cash and cash equivalents+ Other current financial assets- Current borrowings- Non- current borrowings
109 DISCLAIMER
This document contains forward-looking statements. Although BIC believes its estimates are based on reasonable assumptions, these statements are subject to numerous risks and uncertainties.
A description of the risks borne by BIC appears in section “Risks and Opportunities” of BIC “Registration Document” filed with the French financial markets authority (AMF) on March 23, 2016.
110 2017 AGENDA
Full Year 2016 results 15 February 2017 Meeting – BIC Headquarters
First quarter 2017 results 26 April 2017 Conference Call
2016 AGM 10 May 2017 Meeting – BIC Headquarters
All dates to be confirmed 111