Societe Bic Sa · EURONEXT:BB
Societe Bic Sa — Investor Presentation (April 2019)
77 slides from Societe Bic Sa's investor presentation, April 2019
Slide 1: Group Presentation for Investors
GROUP PRESENTATION FOR INVESTORS APRIL 2019 GROUP PRESENTATION FOR INVESTORS
Slide 2: Q1 2019 Group and Category Highlights
Q1 2019 GROUP AND CATEGORY HIGHLIGHTS GROUP PRESENTATION FOR INVESTORS 2
Slide 3: Q1 2019 Key Takeaways
Q1 2019 KEY TAKEAWAYS BIC 2022- Maintaining or Invent the growing share in Future a challenging plan on track Targeted Brand trading Support 2019 Outlook environment Investments confirmed GROUP PRESENTATION FOR INVESTORS 3
Slide 4: Q1 2019 Group Financial Performance
Q1 2019 GROUP FINANCIAL PERFORMANCE NET SALES NORMALIZED IFO NORMALIZED EPS NET CASH POSITION Change on Margin a comparative basis 415.4 M€ 54.6 M€ 0.89 € 135.0M€ -2.0% 13.1% GROUP PRESENTATION FOR INVESTORS 4
Slide 5: Q1 2019 Category Spotlights
Q1 2019 CATEGORY SPOTLIGHTS Stationery Lighters Shavers Net Sales Net Sales Net Sales Q1 148.3 M€ - 5.8 %* Q1 149.7 M€ - 5.5 %* Q1 109.0 M€ + 10.0 %* NIFO Margin NIFO Margin NIFO Margin Q1 1.8 M€ 1.2 % Q1 46.6 M€ 31.1 % Q1 7.7 M€ 7.1 % • Continued growth in e-commerce in • Soft performance in Europe
Slide 6: Market Performances and BIC's Market Share (Stationery)
STATIONERY MARKET PERFORMANCES AND BIC’S MARKET SHARE Europe market U.S. market Feb 2019 Dec 2018 YTD 0.2% BIC market BIC market share share -0.2 pts +0.0 pts -1.2% 0.0% -1.6% Dec 2018 Mar 2019 YTD In Value Source: EU7 GFK FEB-2019 - 60% coverage (France, UK, Germany, Italy, Spain, Belgium, Greece /
Slide 7: Market Performances and BIC's Market Share (Shavers U.S.)
SHAVERS U.S. MARKET PERFORMANCES AND BIC’S MARKET SHARE Off-line Market Sales Q1 2019 (YTD in value) BIC’s Market Share Change - One Piece Segment (YTD in value) 2.2% 3.0 2.6 2.2 1.9 1.9 2.0 1.2 1.4 0.7 0.9 0.9 -1.6% -1.6% -2.3% -2.2% 1.0 -3.1% -2.8%-3.1% -3.0% -2.9% -4.1% -4.1% -4.1% -3.4%-3.9% -4.
Slide 8: Net Sales Evolution
Q1 2019 NET SALES EVOLUTION Change in Change on Change FX impact Perimeter Argentina impact a comparative In million euros Q1 2018 Q1 2019 as reported (in points) (in points) (in points) basis* Net Sales 415.4 415.4 0.0% +2.6 (0.4) (0.2) (2.0)% +10.9 M€: BIC Sport In M€ Divestiture USD +12.4 BRL -2.
Slide 9: From Net Sales to IFO
Q1 2019 FROM NET SALES TO IFO Change Change on In million euros Q1 2018 Q1 2019 as reported a comparative basis Net Sales 415.4 415.4 0.0% (2.0)% Gross Profit 223.5 211.3 Normalized Income from 69.6 54.6 Operations Income from Operations 69.6 54.6 GROUP PRESENTATION FOR INVESTORS 9 (*) See glossary
Slide 10: Key Components of Normalized Income from Operations Margin
Q1 2019 KEY COMPONENTS OF NORMALIZED* INCOME FROM OPERATIONS MARGIN -2.9% -1.4% +0.7% 16.7% 13.1% Q1 2018 Normalized* IFO Change in cost of Total brand support OPEX and other Q1 2019 Normalized* IFO margin production expenses margin (*) See glossary GROUP PRESENTATION FOR INVESTORS 10
Slide 11: From NIFO to Group Net Income
Q1 2019 FROM NIFO TO GROUP NET INCOME In million euros Q1 2018 Q1 2019 Normalized* IFO 69.6 54.6 IFO 69.6 54.6 Finance revenue/costs (2.0) +0.8 Income before Tax 67.6 55.4 Income tax expense (19.0) (16.1) Effective tax rate 28.1% 29.0% Net Income Group share 48.6 39.3 Normalized EPS Group Share 1.06
Slide 12: Working Capital
WORKING CAPITAL In million euros December 2018 March 2019 Total Working Capital 621.2 674.6 Of which inventories 449.2 508.7 Of which Trade 534.7 509.4 and other receivables Of which Trade (137.7) (131.9) and other payables INVENTORIES IN DAYS RECEIVABLES IN DAYS 224 224 71 80 178 67 March 2018 Dece
Slide 13: Net Cash Position
NET CASH POSITION In million euros Operations +62.9 -32.7 -20.1 -33.1 -1.8 -1.7 161.5 Net Cash 135.0 From Operating activities +30.2 M€ December 2018 Operating cash Change in CAPEX Share buyback Haco industries Others March 2019 Net Net Cash flow working capital acquisition Cash Position Position an
Slide 14: 2019 Outlook
2019 OUTLOOK NET SALES NORMALIZED IFO MARGIN We expect Group Net Sales We expect Normalized IFO margins to increase slightly to be between 16.5% and 18% on a comparative basis GROUP PRESENTATION FOR INVESTORS 14
Slide 15: Group Overview
GROUP OVERVIEW GROUP PRESENTATION FOR INVESTORS 15
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: 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 GROUP PRESENTATION FOR INVESTORS 17
Slide 18: Strategic Assets
STRATEGIC ASSETS ➢ Quality and Value product positioning ▪ A large and diversified product portfolio aimed at answering consumers’ needs ▪ Recognized brands ▪ Innovation: 9% of net sales through new products in 2018 ▪ Historical international footprint - Present in more than 160 countries - More tha
Slide 19: Key Strengths
KEY STRENGTHS Worldwide Solid Balance Our Products Our Brands leadership Sheet N°2 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 20: 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 (%) GROUP PRESENTATION FOR INVESTORS 20
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 Lighters Shavers GROUP PRESENTATION FOR INVESTORS 21
Slide 22: BIC in 2018: Operational Performance
BIC IN 2018 OPERATIONAL PERFORMANCE 17.2% 20.2% 19.8% 19.7% 18.2% 18.7% 19.4% 18.1% 17.9% 15.3% 17.4% 15.1% Normalized* IFO margin 5.9% 6.2% 4.9% 4.2% 3.3% 3.1% 3.6% 2.8% 1.6% 1.4% 1.5% -0.6% 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016** 2017 2018 Net Sales growth on a comparative basis *See g
Slide 23: BIC in 2018: Cash Generation
BIC IN 2018 CASH GENERATION In million euros 297 264 262 239 222 226 205 208 187 194 179 185 180185 168 148 146 144 129 120 116 115 116 109 120 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 Free Cash Flow Free Cash Flow before acquisitions and disposals* after acquisitions and dis
Slide 24: Capex to Sales History
CAPEX TO SALES HISTORY 300 10.0% 8.9% 9.1% 5.3% 5.9% 6.6% 5.7% 5.7% 5.4% 6.4% 250 3.4% 3.4% 4.9% 0.0% 200 181 186 -10.0% 150 -20.0% 125 121 125.4 107 112 100 83 89 -30.0% 77 63 53 50 -40.0% 0 -50.0% 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 Total Capex to sales *Capacity + new buil
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 GROUP PRESENTATION FOR INVESTORS 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%** Pa
Slide 27: Use of Cash (1/2)
USE OF CASH (1/2) 125 million euros CAPEX 1 in 2018 Invest to prepare the future Selected M&A 2007 2009 2009 2009 2011 2013 2014 2015 2018 Atchison APP Cello Pens Norwood Angstrom Cello Pens Cello Pens Cello Pens Haco Industries Ltd Products Promotional (Partnership) Promotional Fuel Cell Majority s
Slide 28: Use of Cash (2/2)
USE OF CASH (2/2) In euros Dividend per share Special Dividend 2 2.20 2.56 2.60 2.85 3.45 1.40 1.90 PAY-OUT RATIO 2.50 1.351.80 Ensure a steady 1.35 0.90 1.15 1.301.00 59% based growth of the on 2018 results ordinary dividend 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 In million eur
Slide 29: BIC-2022 Invent the Future Plan
BIC-2022 INVENT THE FUTURE PLAN GROUP PRESENTATION FOR INVESTORS 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: Four Strategic Pillars & Clear Targets
BIC 2022 - INVENT THE FUTURE FOUR STRATEGIC PILLARS & CLEAR TARGETS EFFECTIVENESS INNOVATION Achieve at least 20 million Increase the number of new euros original annualized patent submissions by savings reinvested to drive Growth 20% per year CONSUMER-CENTRIC OMNICHANNEL BRANDS DISTRIBUTION Engage
Slide 32: 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 33: Stationery
STATIONERY GROUP PRESENTATION FOR INVESTORS 33
Slide 34: 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 #2 6% manufacturer 9% Fountain Pen Correction & Accessories 24% Ball Pen 9% Global 18% Market Share Marking 20.2 15
Slide 35: The Consumer Stationery Market
THE CONSUMER STATIONERY MARKET Total worldwide consumer stationery market in retail value= 16.2 billion Euros in 2017 Breakdown by main supplier (in value) Newell 9.7% BIC* Others 8.9% 63.5% Pilot 5.6% Faber Castell 3.9% M&G (China) 2.7% Crayola 3.5% Mitsubishi Pencil 2.2% Source: Euromonitor Writin
Slide 36: 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 37: 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 38: Stationery Strategic Pillars
STATIONERY STRATEGIC PILLARS Consolidate leadership in Ball Pen and strengthen positions in Gel Pen 5 years CAGR: BIC’s +4.8% position Ball Pen 18.5% #1 Ball Pens Roller & Gel 6.9% +5.4% +7.6% Strengthen positions in Coloring Roller & Gel Coloring Coloring 2008 2009 2010 2011 2012 2013 2014 2015 201
Slide 39: Lighters
LIGHTERS GROUP PRESENTATION FOR INVESTORS 39
Slide 40: 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 41: 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 41
Slide 42: 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 43: 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 GROUP PRESENTATION FOR INVESTORS 43
Slide 44: Lighters Strategic Pillars: Traditional Distribution
LIGHTERS STRATEGIC PILLARS TRADITIONAL DISTRIBUTION Lighters’ Distribution Channels (Shop number %) Traditional trade Modern trade Ethiopia Pakistan India Vietnam Indonesia Philippines Brazil Mexico China Russia France USA 0% 20% 40% 60% 80% 100% GROUP PRESENTATION FOR INVESTORS 44
Slide 45: Safety – Differentiation – Flexibility
LIGHTERS STRATEGIC PILLARS SAFETY – DIFFERENTIATION - FLEXIBILITY All BIC® Lighters Standardized meet or exceed offer ISO 9994 safety specifications All BIC® child- resistant January 2019 lighters comply Personalized offer A new production site dedicated to personalization with child- and small seri
Slide 46: Shavers
SHAVERS GROUP PRESENTATION FOR INVESTORS 46
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: BIC Performance in U.S. Shaver Market
BIC PERFORMANCE IN U.S. SHAVER MARKET 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% 37.8% 36.8% 28.1% 22.0% 15.0% 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 PILLARS Systems Recruit System users 6.6B€ Fuel Trade Up Disposable on Premium Disposable 4.2B€ Recruit two-blades users Euromonitor FY2017 GROUP PRESENTATION FOR INVESTORS 55
Slide 56: Recruit Two-Blades Users
RECRUIT TWO-BLADES USERS Launch Flex 2 Hybrid in the US Probably the best Twin-Blade shaver in the world at a great price 30% Value Share The biggest disposable volume opportunity (US) 47% Volume Share IRI MULO US FY2018 GROUP PRESENTATION FOR INVESTORS 56
Slide 57: Fuel Trade Up on Premium Disposable
FUEL TRADE UP ON PREMIUM DISPOSABLE PREMIUM Bic Flex Bic Soleil Bic Comfort Bic 1-2-3 BASIC GROUP PRESENTATION FOR INVESTORS 57
Slide 58: Governance
GOVERNANCE GROUP PRESENTATION FOR INVESTORS 58
Slide 59: Shareholding Structure – Dec. 2018
SHAREHOLDING STRUCTURE – 31 DEC. 2018 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 59
Slide 60: Board of Directors Composition Dec. 2018
BOARD OF DIRECTORS COMPOSITION 31 DEC. 2018 11 40 % 4 DIRECTORS WOMEN NATIONALITIES 40 % 7 94 % INDEPENDENCE RATE MEETINGS ATTENDANCE RATE Pierre Vareille Gonzalve Bich Chairman Chief Executive Officer Vincent Bedhome Elizabeth François Director representing Marie-Pauline John Bastoni Bich the emplo
Slide 61: Executive Committee
EXECUTIVE COMMITTEE Group Insights & Innovation Officer Thomas BRETTE Chief Finance Officer – Executive Vice-President Group Lighters General Jim DIPIETRO Manager François CLEMENT-GRANDCOURT CEO Chief Human Resources Alison JAMES Gonzalve BICH Group Supply Chain Officer Peter DALSBERG Global Strateg
Slide 62: Sustainable Development
SUSTAINABLE DEVELOPMENT GROUP PRESENTATION FOR INVESTORS 62
Slide 63: Reduce the Impact of our Products
Reduce the Impact of our Products 63
Slide 64: A New Ambition to Mobilize the Group up until 2025
A New Ambition to Mobilize the Group up until 2025 Our vision is expressed through the signature “Writing the Future, Together”, encompassing five ambitious commitments in line with the Group’s strategy. GROUP PRESENTATION FOR INVESTORS 64
Slide 65: Ubicuity: Implementing the Circular Economy
Ubicuity ™: Implementing the Circular Economy 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
Slide 66: Appendix
APPENDIX GROUP PRESENTATION FOR INVESTORS 66
Slide 67: Group Quarterly Figures
GROUP QUARTERLY FIGURES Restated for Restated for IFRS 15 IAS 29 In million euros Q1 16 Q2 16 Q3 16 Q4 16 FY 16 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 Net Sales 469.3 562.2 490.5 503.8 2,025.8 469.2 593.7 465.8 491.6 2,020.3 473.2 599.0 471.7
Slide 68: Group Quarterly Figures by Geography
GROUP QUARTERLY FIGURES BY GEOGRAPHY Restated for Restated for IFRS 15 IAS 29 In million euros Q1 16 Q2 16 Q3 16 Q4 16 FY 16 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 Europe 126.6 170.0 131.4 116.8 544.8 129.5 177.5 135.3 116.9 559.3 131.5 181.2
Slide 69: Stationery
STATIONERY Restated for IFRS 15 Restated for IAS 29 In million euros Q1 16 Q2 16 Q3 16 Q4 16 FY 16 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 Net Sales 167.1 241.1 193.9 178.2 780.3 163.4 264.7 191.3 172.4 791.8 165.5 267.8 194.6 176.3 804.2 151.8
Slide 70: Lighters
LIGHTERS Restated Restated for IFRS 15 for IAS 29 In million euros Q1 16 Q2 16 Q3 16 Q4 16 FY 16 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 Net Sales 163.6 177.2 167.6 187.9 696.4 171.3 185.5 157.9 189.1 703.9 172.2 186.4 159.2 189.6 707.4 152.7 1
Slide 71: Shavers
SHAVERS Restated for Restated for IFRS 15 IAS 29 In million euros Q1 16 Q2 16 Q3 16 Q4 16 FY 16 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 Net Sales 117.8 120.1 111.8 117.3 467.0 114.4 122.0 102.9 115.1 454.4 115.3 123.4 104.2 116.5 459.4 97.0 113
Slide 72: Other Products
OTHER PRODUCTS Restated for IFRS 15 In million euros Q1 16 Q2 16 Q3 16 Q4 16 FY 16 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 Net Sales 20.8 23.8 17.2 20.3 82.1 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 YoY act
Slide 73: Main Exchange Rate Evolution vs. Euro
Q1 2019 NET SALES MAIN EXCHANGE RATE EVOLUTION VS. EURO Average rates % of sales Q1 2018 Q1 2019 % of change US Dollar 39% 1.23 1.14 +8.3% Brazilian Real 8% 3.99 4.28 -6.6% Mexican Peso 6% 23.03 21.80 +5.6% Argentina Peso 2% 24.28 44.45 -45.4% Canadian dollar 3% 1.56 1.51 +3.1% Australian dollar 2%
Slide 74: Capital and Voting Rights
CAPITAL AND VOTING RIGHTS As of March 31, 2019, the total number of issued shares of SOCIÉTÉ BIC is 46,010,907 shares, representing: • 67,361,767 voting rights • 66,413,250 voting rights excluding shares without voting rights Total number of treasury shares held at the end of March 2019: 948,517 GRO
Slide 75: 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 76: 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 77: Group Presentation for Investors
GROUP PRESENTATION FOR INVESTORS APRIL 2019 GROUP PRESENTATION FOR INVESTORS