Societe Bic Sa · EURONEXT:BB
Societe Bic Sa — BIC — Q3 2019 Earnings Presentation
76 slides from Societe Bic Sa's earnings presentation, Oct 23, 2019
Slide 1: Group Presentation for Investors Q3 & 9M 2019 Results
GROUP PRESENTATION FOR INVESTORS Q3 & 9M 2019 Results
Slide 2: 9M 2019 Results Highlights & Category Spotlights
9M 2019 RESULTS HIGHLIGHTS & CATEGORY SPOTLIGHTS 2
Slide 3: 9 Months 2019 Key Messages
9 MONTHS 2019 KEY MESSAGES Maintaining or Continued Q3 2019 growing challenging market share Execution of impacted by « BIC 2022- trading the deterioration in most environment geographies Invent the of the U.S Future » Lighters market and soft plan on track Stationery Net Sales 3
Slide 4: Q3 & 9M 2019 Financial Performance
Q3 & 9M 2019 FINANCIAL PERFORMANCE Net Sales Normalized IFO Normalized EPS Net Cash Change on a Margin Position comparative basis Q3 2019 Q3 2019 Q3 2019 488.0 M€ 88.0 M€ 9M 2019 1.48 € -0.5% 18.0% 118.7 M€ 9M 2019 9M 2019 9M 2019 1,448.2 M€ 241.1 M€ 3.93 € -1.2% 16.6% 4
Slide 5: Category Spotlights
Category Spotlights Stationery Lighters Shavers Net sales Net sales Net sales Q3 204.3 M€ - 1.7 %* Q3 161.9 M€ - 4.2 %* Q3 114.9 M€ +7.0 %* 9M 605.1 M€ - 3.0 %* 9M 481.6 M€ - 3.2 %* 9M 339.4 M€ + 5.1 %* NIFO margin NIFO margin NIFO margin Q3 14.5 M€ 7.1 % Q3 54.3 M€ 33.5 % Q3 20.8 M€ 18.1 % 9M 48.7
Slide 6: Stationery Market Performances and BIC's Market Share
STATIONERY MARKET PERFORMANCES AND BIC’S MARKET SHARE Europe market (in value) U.S. market (in value) 0.6% BIC market +0.1% BIC market share share -0.2 pts +0.4 pts 0.2% -1.2% Dec 2018 Aug 2019 YTD Dec 2018 September 2019 YTD Source: In value - EU7 GFK AUG-2019 - 60% coverage (France, UK, Germany, I
Slide 7: Shavers US Market Performances and BIC's Market Share
SHAVERS US Market Performances and BIC’s Market Share Off-line Market Sales (in value) BIC’s Market Share Change - One Piece Segment (in value) 2.8 3.0 1.9 1.9 2.1 -1.6% 2.0 1.4 -2.2% -2.1% -3.1%-2.9% -3.0% 0.7 0.9 0.9 1.0 -4.1% -3.8% -3.8% -3.8% -4.1% -4.7% -5.0% 0.0 -5.8% -6.3% -6.9% -1.0 -0.5 -0.
Slide 8: Net Sales Evolution
Q3 & 9M 2019 NET SALES EVOLUTION Change in Argentina Change on Change FX impact* Perimeter** impact*** a comparative In million euros Q3 2018 Q3 2019 as reported (in points) (in points) (in points) basis*** Q3 Net Sales 479.5 488.0 +1.8% +2.7 (0.2) (0.2) (0.5)% 2019 +13.0 M€: In M€ USD +8.3 BRL +1.7
Slide 9: Key Components of Normalized Income from Operations Margin
Q3 and 9M 2019 KEY COMPONENTS* OF NORMALIZED INCOME FROM OPERATIONS MARGIN +1.0 18.0% +0.8 16.1% +0.1 Q3 2019 Q3 2018 Normalized* IFO Change in cost of Total brand support OPEX and other Q3 2019 Normalized* IFO margin production expenses margin 18.4% -2.0 -0.6 +0.8 16.6% 9M 2019 9M 2018 Normalized*
Slide 10: From NIFO to Group Net Income
9M 2019 FROM NIFO TO GROUP NET INCOME In million euros 9M 2018 9M 2019 Normalized* IFO 265.3 241.1 Restructuring costs (transformation plan) - 31.9 Cello goodwill impairment in 2018 68.7 - Argentina hyperinflationary accounting (IAS29) 0.3 IFO 196.3 209.2 Finance revenue/costs 5.1 2.8 Income before
Slide 11: Working Capital
WORKING CAPITAL In million euros December 2018 September 2019 Total Working Capital 621.2 684.8 Of which inventories 449.2 492.5 Of which Trade 534.7 553.6 and other receivables Of which Trade (137.7) (227.1) and other payables INVENTORIES IN DAYS RECEIVABLES IN DAYS 184 178 187 79 74 67 September D
Slide 12: Net Cash Position
NET CASH POSITION In million euros Operations +250.3 (20.6) (67.9) 161.5 (155.2) (39.2) Net Cash From Operating activities (2.4) (7.8) +229.7 M€ 118.7 December 2018 Operating cash Change in CAPEX Dividend Share buyback Haco industries Others September Net Cash flow working capital payment acquisitio
Slide 13: 2019 Outlook
2019 OUTLOOK* NET SALES NORMALIZED IFO MARGIN We expect Group Net Sales We expect Normalized IFO margin to be between flat and -2.0% to be in the lower end of the 16.5% on a comparative basis to 18% range (*) See 11-OCT-2019 Press Release on FY19 Outlook Adjustment 13
Slide 14: Group Overview
GROUP OVERVIEW
Slide 15: BIC Economic Model
BIC ECONOMIC MODEL OUR RESOURCES OUR SIMPLE, RESPONSIBLE, VALUE CREATED SUSTAINABLE, AND VALUE- CREATING ECONOMIC MODEL OUR TEAM MEMBERS EMPLOYABILITY, WELL- BUILDING OUR SUCCESS BEING AND SAFETY AT WORK CONTROLLED PRODUCTION RELIABLE AND HIGH- LINE QUALITY PRODUCTS AT THE RIGHT PRICE GLOBAL DISTRIB
Slide 16: History at a Glance
HISTORY AT A GLANCE 1950 …Marcel Bich launches the BIC® Cristal, the first high quality ballpoint pen at an affordable price It is sold under the name, a shortened and easier recognized version of the “Bich” name. 1954 …The Group starts its international expansion in Europe (Italy, UK, …), Latin Ame
Slide 17: Key Strengths
KEY STRENGTHS Worldwide Solid Balance Our Products Our Brands leadership Sheet N°1 Stationery High Quality cc.9% market share €161.5M Net Cash Reliable Position at the end of 2018 N°1 Lighters Inventive cc. 50% market share** At the right price N°2 Shavers 20% market share* of one-piece in USA and E
Slide 18: FY 2018 Net Sales Breakdown
FY 2018 NET SALES BREAKDOWN BY CATEGORY BY GEOGRAPHY 3% Other products 29% 22% 40% 32% Europe Shavers Stationery Developing markets 35% Lighters 39% North America 18
Slide 19: Strong Universal Brands
STRONG UNIVERSAL BRANDS Stationery Lighters Shavers Women 77% 99% 100% Men 74% Women 64% 97% 93% Men 66% Women 75% 98% 94% Men 75% 94% Aided Brand awareness per region (%) 19
Slide 20: Mission and Purpose, Long Term Ambition, Commitment
MISSION AND PURPOSE LONG TERM AMBITION Offer High quality, inventive and reliable products Profitable Growth and solutions, respectful to our environment Continuous Investments in our people, Create Long-Term Value for all stakeholders R&D, new products and Brands Increased Productivity Strong Cash
Slide 21: International Manufacturing Footprint
INTERNATIONAL MANUFACTURING FOOTPRINT 26 FACTORIES in 4 CONTINENTS* 2009 2019 92% of BIC® consumer products are produced in BIC-owned factories Stationery (16 plants) Lighters (5 plants) Shavers (4 plants) BIC Graphic (1 plant) * Updated on October 23, 2019 21
Slide 22: Solid Financial Performance in 2018 (1/2)
SOLID FINANCIAL PERFORMANCE IN 2018 (1/2) NET SALES ORGANIC GROWTH ADJUSTED EBIT MARGIN 6.2% 20.2% 19.8% 18.2% 18.7% 18.1% 4.9% 17.3% 16.3% 15.9% 16.5% 4.2% 15.1% 1.4% 1.5% 2014 2015 2016 2017 2018 2014 2015 2016 2017 2018 BIC Peer Average * Average: +3.6% (*) Beiersdorf, P&G, Edgewell, Pilot, Unile
Slide 23: Solid Financial Performance in 2018 (2/2)
SOLID FINANCIAL PERFORMANCE IN 2018 (2/2) CASH FLOW TOTAL SHAREHOLDERS’ REMUNERATION In M€ In M€ 381 367 349 329 299 304 264 239 302 226 208 258 181 186 180 243 212 121 120 125 107 112 132 2013 2014 2015 2016 2017 2018 2014 2015 2016 2017 2018 Net Cash from Operating Activities CAPEX Free Cash Flow
Slide 24: 2018 Net Cash Position
2018 NET CASH POSITION Operations +394.6 -90.7 In million euros -125.4 -157.8 -49.9 -14.2 Net Cash From Operating activities 204.9 +303.9 M€ 161.5 December 2017 Operating cash Change in CAPEX Dividend Share buyback, Others* December 2018 Net Cash flow working capital payment exercise of stock Positi
Slide 25: Capex – Depreciation & Amortization
2018 CAPEX – DEPRECIATION & AMORTIZATION 11% 29% Stationery Others 125.4 M€ 181 186 In million euros 27% Shavers 33% Lighters 125 121 125.4 107 112 89 90 94 93 93 77 81 75 71 72 75 63 53 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 CAPEX D&A 25
Slide 26: Shareholders' Remuneration
SHAREHOLDERS’ REMUNERATION Proposal of 3.45 euros ordinary dividend per share In euros 6.89 6.26 5.87 5.48 5.13 5.57 5.32 5.00 4.29 3.11 3.43 3.51 3.15 3.00 3.40 3.45 3.45 3.45 2.50 2.85 2.56 2.60 2.201.80 1.90 1.3 1.35 1.35 1.401.80 1.15 37% 38% 38% 45% 44% 44% 44% 47% 51% 51% 49% 65% 55% 59% Pay-o
Slide 27: Use of Cash (1/2)
USE OF CASH (1/2) 125 million euros CAPEX 1 in 2018 Invest to prepare the future Bolt-on strategic Selected M&A acquisitions 2009 2009 2009 2011 2013 2014 2015 2018 2019 APP Cello Pens Norwood Angstrom Cello Pens Cello Pens Cello Pens Haco Industries Ltd Lucky Stationery Promotional (Partnership) Pr
Slide 28: Use of Cash (2/2)
USE OF CASH (2/2) In euros Dividend per share Special Dividend 2 2.85 3.40 3.45 3.45 3.45 2.56 2.6 PAY-OUT RATIO 2.2 2.50 Ensure a steady 1.4 1.9 1.80 1.35 1.35 59% based growth of the 1.00 on 2018 results ordinary dividend 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 In million euros
Slide 29: BIC 2022 Invent the Future Plan
BIC 2022- INVENT THE FUTURE PLAN 29
Slide 30: Organizational Priorities
ORGANIZATIONAL PRIORITIES GROUP INSIGHTS GROUP COMMERCIAL LIGHTERS & INNOVATION SUPPLY CHAIN OPERATIONS Reinvigorate our Enhance efficiency Driving an omnichannel Securing Lighters’ unique Innovation eco-system throughout manufacturing go-to-market strategy, manufacturing processes, and Brands, plac
Slide 31: Clear Targets
BIC 2022 - INVENT THE FUTURE CLEAR TARGETS Achieve at least 45 million Increase the number of new euros* original annualized patent submissions by savings reinvested to drive Growth 20% per year Engage Directly with 20% Reach 10% of Net Sales of our consumers from e-commerce *Updated after 6 June 20
Slide 32: Progress on BIC-2022 Invent the Future Plan
PROGRESS ON BIC-2022 INVENT THE FUTURE PLAN Effectiveness Innovation Global Strategic Procurement BodyMark Temporary Tattoo Marker organization up and running BIC® Intensity Medium Felt-Pen Health, Safety & Environment processes centralized BIC® Soleil® Click 5 “Made For YOU”: new direct-to-consumer
Slide 33: Clear Roadmap
BIC 2022 - INVENT THE FUTURE CLEAR ROADMAP 2019 2020-2021 2022+ SET THE FOUNDATIONS ROLL-OUT FULL IMPACT • Operational Effectiveness • Engaged Consumers • Inclusive Company • Accelerated Growth • Strengthen market positions • Extend brand leadership • Expand in e-commerce • Speed-up product launches
Slide 34: Stationery
STATIONERY
Slide 35: Stationery
STATIONERY Leader in: Total Market: 10 years CAGR: 5 years CAGR: 16Bn Euros in value +4.5% +5.2% Europe, Latin America, Africa & India 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 #1 6% Manufacturer* 9% Fountain Pen Correction & Accessories 24% Ball Pen 9% Global 18% Market Share Marking 20.2 1
Slide 36: The Consumer Stationery Market
THE CONSUMER STATIONERY MARKET Total worldwide consumer stationery market in retail value= 17 billion Euros in 2018 Breakdown by main supplier (in value) BIC 8.9% Newell 8.7% Others 64.5% Pilot 5.7% Faber Castell 3.6% Mitsubishi Pencil 3.2% M&G (China) 2.9% Crayola 2.5% Source: Euromonitor 2019 edit
Slide 37: Stationery BIC Positions in Major Segments and Geographies
STATIONERY BIC POSITIONS IN MAJOR SEGMENTS AND GEOGRAPHIES N°1 in Ball Pen N°1 in Mechanical Pencils (18.5% Market Share) (11.6% Market Share) N°1 in Correction* (8.4% Market Share) N°1 in N°2 in US N°1 in India Western Europe (14.4% Market (23.3% Market (18.6% Market Share) Share) Share) Source: Eu
Slide 38: 2010-2018 BIC Stationery Key Figures
2010- 2018 BIC STATIONERY KEY FIGURES FY 2018 FY 2018 €771.9M €62.8M Net Sales NIFO Net sales change on a comparative basis Average Volume +7.0% +6.0% +1.0% +0.3% +4.0% +2.0% +1.5% +5.0% +0.3% +3.0% Value +6.7% +4.1% +2.6% +2.1% +4.2% +3.6% +5.2% +3.4% +1.7% +4.1% 15.0% 14.0% 12.1% 12.7% 12.5% 11.5%
Slide 39: Stationery Strategic Pillars
STATIONERY CONSOLIDATE LEADERSHIP POSITION IN BALL PEN AND STRENGTHEN POSITIONS IN GEL PEN STRATEGIC PILLARS 5 Years CAGR figures: BIC Ball Pen #1 18.5% +4.8% Roller & Gel 6.9% Ball Pen +5.4% +7.6% Roller & Gel STRENGTHEN POSITIONS IN COLORING Coloring 2008 2009 2010 2011 2012 2013 2014 2015 2016 20
Slide 40: Lighters
LIGHTERS
Slide 41: Lighters Market Outside Asia
LIGHTERS MARKET OUTSIDE ASIA in volume in value 13% 18% The Global 13.2 bn 57% 5.0 bn 32% Branded Units* Euros cc. 30% Leader cc. 50% #1 Branded BIC Asian manufacturers Other branded Lighters manufacturer Of which Swedish Match, Flamagas & Tokkai cc. 50% BIC MARKET SHARE Global in value Market Share
Slide 42: Overview of Mandatory Safety Regulation Around the World
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 GROUP PRESENTATION FOR INVESTORS 42
Slide 43: 2010-2018 BIC Lighter Key Figures
2010 – 2018 BIC LIGHTER KEY FIGURES FY 2018 FY 2018 €685.8M €247.0M Net Sales NIFO Net sales on a comparative basis Average Vol. +10.0% +8.0% +3.0% +3.8% +4.0% +5.0% +2.3% +2.0% +1.6% +4.5% Value +11.6% +8.6% +4.3% +7.0% +8.3% +8.3% +5.6% +2.2% +2.4% +6.5% 38.9% 39.8% 39.2% 37.7% 38.2% 37.8% 37.4% 3
Slide 44: Lighters Strategic Pillars: Geographical Footprint
LIGHTERS STRATEGIC PILLARS GEOGRAPHICAL FOOTPRINT BIC Value Market Share >40% Between 5% & 40% <5% or no information available on BIC Market Share 13PRESENTATION GROUP February 2019FOR Presentation INVESTORS 44
Slide 45: Lighters Strategic Pillars: Safety, Differentiation, Flexibility
LIGHTERS STRATEGIC SAFETY – DIFFERENTIATION - FLEXIBILITY TRADITIONAL DISTRIBUTION PILLARS All BIC® child- resistant lighters DISTRIBUTION CHANNELS comply with child- (Shop number %) resistant standards where required Standardized offer TRADITIONAL TRADE MODERN TRADE Ethiopia Pakistan India Vietnam
Slide 46: Shavers
SHAVERS
Slide 47: Shavers
SHAVERS TOTAL WET SHAVE** 59% 35% 25% The EUROPE USA Global Shavers Challenger: 12 Billion euros USA, Europe 15% & Latin America LATIN AMERICA 38% 25% #2 3% OTHERS One-piece manufacturer Double edge One-piece Refillable with cc.20% 60% 40% 71% 29% 73% Market Share* 6.8 Million BIC® Shavers 27% sold
Slide 48: Wet Shave Market – Regional Structure
WET SHAVE MARKET – REGIONAL STRUCTURE in value One-piece System Men 77% Women 19% DEB = 4% (not included in mapping) Source: Euromonitor 2017 / Internal GROUP PRESENTATION FOR INVESTORS 48
Slide 49: Wet Shave Market – Source of Growth
WET SHAVE MARKET – SOURCE OF GROWTH Global Wet Shave Source of Growth – in value (CAGR 2010 to 2017) 37% 11.9b€ 22% 9.8b€ 41% Trading Up & Price Increase Consumption Population Growth Growth 2010 2017 Source: Euromonitor 2017 + Internal estimate GROUP PRESENTATION FOR INVESTORS 49
Slide 50: U.S. Shaver Market (1/2)
U.S. SHAVER MARKET (1/2) Total Wet Shave Market Breakdown Total off-line One-Piece Off-line Market Sales (in value - off-line and on-line)* Market Share (in value) 2016-2018 (in value) 3.2 Bn USD 3.1 Bn USD 8.1% 4.6% -3.5 pts 16% 11.8% 16.5% +4.7 pts -2.2% -3.1% -2.9% 17.2% 15.7% -1.5 pts -4.1% -3.8
Slide 51: U.S. Shaver Market (2/2)
U.S. SHAVER MARKET (2/2) US WET SHAVE MEN SEGMENT US WET SHAVE (Average Price per unit System vs Disposable) (Volumes Sales Evolution vs LY %) $2.70 1.2% Men System 3 blade $2.25 -0.5% 1.38 Price gap: -1.9% -2.8% -2.8% -2.5% -2.4% -21.8% 1.08 -3.2% -3.4% -3.8% -4.2% -4.9% -4.6% -5.7% $1.32 Men Dispo
Slide 52: Shavers BIC's Performance in the U.S.
SHAVERS BIC’S PERFORMANCE IN THE U.S. BIC’s YTD Market Share – One Piece Segment (in value) 40.0% 35.0% 26.7% 28.0% 26.7% 26.2% 30.0% 23.2% 25.0% 21.1% 22.9% 25.0% 19.9% 20.0% 15.0% 22.0% 28.1% 36.8% 37.8% 10.0% 5.0% 0.0% 2010 2011 2012 2013 2014 2015 2016 2017 2018 Total One Piece 5&6 Blade Segment
Slide 53: 2010-2018 BIC Shaver Key Figures
2010 – 2018 BIC SHAVER KEY FIGURES FY 2018 FY 2018 €438.0M €45.4M Net Sales NIFO Net sales change on a comparative basis Average Volume +7.0% +3.0% +3.0% +3.8% +4.0% +1.0% +0.6% +3.0% -3.4% +2.5% Value +7.6% +9.1% +10.1% +6.5% +4.1% +11.9% +7.0% -2.2% +1.7% +6.2% 18.0% 18.5% 17.8% 15.7% 17.1% 17.0%
Slide 54: One-Piece Market Shares by Geography
ONE-PIECE MARKET SHARES BY GEOGRAPHY In volume In value 39% 50% 17% 13% EUROPE 17% 17% Gillette BIC Schick Gillette BIC Schick 37% 25% 30% 27% 16% USA 11% Gillette BIC Schick Gillette BIC Schick 75% 67% BRAZIL 27% 21% 1% 1% Sources: Gillette BIC Schick Gillette BIC Schick Europe: Nielsen / IRI -
Slide 55: Shavers Strategic Pillars
SHAVERS STRATEGIC A COMPLETE RANGE FOR ALL CONSUMERS PILLARS Recruit System users < Systems 6.6 B€ Disposable Fuel Trade Up on Premium Disposable 4.2 B€ BIC Soleil Recruit two-blades users Euromonitor FY2017 55
Slide 56: Governance
GOVERNANCE
Slide 57: Shareholding Structure
SHAREHOLDING STRUCTURE As of December 31, 2018, the total number of issued shares of SOCIÉTÉ BIC was 46,010,907 shares, representing: 67,352,060 voting rights. 1% TREASURY SHARES 45% BICH FAMILY (Voting rights: 59%) 54% PUBLIC GROUP PRESENTATION FOR INVESTORS 57
Slide 58: Board of Directors' Organization as of May 22nd 2019
BOARD OF DIRECTORS’ ORGANIZATION AS OF MAY 22ND 2019 Pierre Vareille Gonzalve Bich* Chairman Chief Executive Officer Vincent Bedhome Elizabeth Bastoni* Director representing François Bich the employees Marie-Aimée Maëlys Castella* Marie-Pauline Chandon-Moët Bich-Dufour* John Glen Candace Matthews So
Slide 59: An Agile and Focused Executive Committee
AN AGILE AND FOCUSED EXECUTIVE COMMITTEE Group Insights & Innovation Chief Finance Officer – Executive Officer Vice-President Thomas BRETTE Jim DIPIETRO Group Lighters General Chief Human Resources Manager Alison JAMES François CLEMENT-GRANDCOURT CEO Gonzalve BICH Chief Strategy & Business Group Sup
Slide 60: Sustainable Development
SUSTAINABLE DEVELOPMENT
Slide 61: Key Non-Financial Data
2018 KEY NON-FINANCIAL DATA ENERGY CONSUMPTION WATER CONSUMPTION 10.35 14.37 -48.6 % -15.5 % 5.46 5.32 11.98 12.14 2008 2017 2018 2008 2017 2018 As reported for Production – Gigajoules/tons As reported for Production – Gigajoules/tons M3/tons GREENHOUSE GAS EMISSIONS NUMBER OF TRAINING DAYS 1.202 17
Slide 62: 2025 Commitments to Sustainable Development
2025 COMMITMENTS TO SUSTAINABLE DEVELOPMENT Our vision is expressed through the signature “Writing the Future, Together”, encompassing five ambitious commitments in line with the Group’s strategy. 62
Slide 63: Reducing the Impact of Our Products
REDUCING THE IMPACT OF OUR PRODUCTS 63
Slide 64: Ubicuity: Circular Economy Initiative
UBICUITY ™: CIRCULAR ECONOMY INITIATIVE TerraCycle, our recycling branch coming from pens: 33 million writing instruments collected in Europe since 2011 First product made from recycled pens: a garden bench with 100 % recycled materials including 40% coming from pens 500 000 €* donation * YTD SEP-20
Slide 65: Appendix
APPENDIX
Slide 66: Main Exchange Rate Evolution vs. Euro
Q3 and 9M 2019 NET SALES MAIN EXCHANGE RATE EVOLUTION VS. EURO Average rates Average rates % of sales Q3 2018 Q3 2019 % of change % of sales 9M 2018 9M 2019 % of change US Dollar 39% 1.16 1.11 +4.6% US Dollar 39% 1.19 1.12 +6.3% Brazilian Real 8% 4.60 4.40 +4.5% Brazilian Real 7% 4.30 4.36 -1.5% Mex
Slide 67: Group Quarterly Figures
GROUP QUARTERLY FIGURES Q Restated for Restated for IFRS 15 IAS 29 In million euros Q1 17 Q2 17 Q3 17 Q4 17 FY 17 Q1 17 Q2 17 Q3 17 Q4 17 FY 17 Q1 18 Q2 18 Q3 18 Q4 18 FY 18 Q1 19 Q2 19 Q3 19 Net Sales 469.2 593.7 465.8 491.6 2,020.3 473.2 599.0 471.7 497.4 2,041.4 415.4 543.9 479.5 511.0 1,949.8 41
Slide 68: Group Quarterly Figures by Geography
GROUP QUARTERLY FIGURES BY GEOGRAPHY Restated for Restated for IFRS 15 IAS 29 In million euros Q1 17 Q2 17 Q3 17 Q4 17 FY 17 Q1 17 Q2 17 Q3 17 Q4 17 FY 17 Q1 18 Q2 18 Q3 18 Q4 18 FY 18 Q1 19 Q2 19 Q3 19 Europe 129.5 177.5 135.3 116.9 559.3 131.5 181.2 137.7 119.6 570.0 124.3 176.1 138.0 121.4 559.7
Slide 69: Stationery
STATIONERY Restated for Restated for IFRS 15 IAS 29 In million euros Q1 17 Q2 17 Q3 17 Q4 17 FY 17 Q1 17 Q2 17 Q3 17 Q4 17 FY 17 Q1 18 Q2 18 Q3 18 Q4 18 FY 18 Q1 19 Q2 19 Q3 19 Net Sales 163.4 264.7 191.3 172.4 791.8 165.5 267.8 194.6 176.3 804.2 151.8 249.5 200.2 170.4 771.9 148.3 252.5 204.3 YoY a
Slide 70: Lighters
LIGHTERS Restated for Restated for IFRS 15 IAS 29 In million euros Q1 17 Q2 17 Q3 17 Q4 17 FY 17 Q1 17 Q2 17 Q3 17 Q4 17 FY 17 Q1 18 Q2 18 Q3 18 Q4 18 FY 18 Q1 19 Q2 19 Q3 19 Net Sales 171.3 185.5 157.9 189.1 703.9 172.2 186.4 159.2 189.6 707.4 152.7 165.0 163.8 204.3 685.8 149.7 169.9 161.9 YoY act
Slide 71: Shavers
SHAVERS Restated for Restated for IFRS 15 IAS 29 In million euros Q1 17 Q2 17 Q3 17 Q4 17 FY 17 Q1 17 Q2 17 Q3 17 Q4 17 FY 17 Q1 18 Q2 18 Q3 18 Q4 18 FY 18 Q1 19 Q2 19 Q3 19 Net Sales 114.4 122.0 102.9 115.1 454.4 115.3 123.4 104.2 116.5 459.4 97.0 113.5 104.4 123.1 438.0 109.0 115.5 114.9 YoY actua
Slide 72: Other Products
OTHER PRODUCTS Restated for IFRS 15 In million euros Q1 17 Q2 17 Q3 17 Q4 17 FY 17 Q1 17 Q2 17 Q3 17 Q4 17 FY 17 Q1 18 Q2 18 Q3 18 Q4 18 FY 18 Q1 19 Q2 19 Q3 19 Net Sales 20.1 21.4 13.7 15.0 70.2 20.2 21.5 13.7 15.0 70.4 13.8 15.9 11.1 13.2 54.0 8.3 7.0 6.9 YoY actual changes -3.2% -10.2% -20.4% -26
Slide 73: Capital and Voting Rights
CAPITAL AND VOTING RIGHTS As of September 30, 2019, the total number of issued shares of SOCIÉTÉ BIC is 46,010,907 shares, representing: • 67,594,876 voting rights • 66,584,956 voting rights excluding shares without voting rights Total number of treasury shares held at the end of September 2019: 1,0
Slide 74: Glossary
GLOSSARY Constant currency basis Constant currency figures are calculated by translating the current year figures at prior year monthly average exchange rates. Organic change At constant currencies and constant perimeter. Figures at constant perimeter exclude or Comparative basis the impacts of acqu
Slide 75: Disclaimer
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 “Regist
Slide 76: Group Presentation for Investors
GROUP PRESENTATION FOR INVESTORS October 23, 2019