Full Year 2012 Group Presentation - Bic · Full Year 2012 Results BIC IN 2012 Consumer Business...

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Full Year 2012 Results Presentation

13 February 2013

Full Year 2012 Results

AGENDA

2

2012

2013

Group highlights Mario Guevara

Category highlights Mario Guevara

Consolidated results Jim DiPietro

Mario Guevara New products by categories

Market assumptions and operational trends Mario Guevara


BIC IN 2012

3

Solid Performance of the Consumer Business in a challenging Environment

Accelerated Investments in Research & Development, including Innovation and Manufacturing Capacities

Strong Cash Generation


+4.1%

+0.7%

+2.8%

As reported At constant currencies On a comparativebasis

19.9% 19.7% 20.2%

2011 2012 2012 exc.Special

Premium

GROUP 2012 KEY FIGURES

4

2012

2011

Normalized* Income from Operations: 373.8 million euros (+3.1%)

Net Sales: 1,898.7 million euros

Normalized* IFO margin

Consumer business (85% of total sales)

+5.3%

Developed

markets +5.6%

Developing

markets +4.7%

Advertising

& Promotional Products (15% of total sales)

-9.2%

Consumer business 22.2%

Advertising

& Promotional Products 8.6%

* See glossary


GROUP 2012 KEY FIGURES

5

5.00

5.56

2011 2012

329.5 334.5

31-Dec-11 31-Dec-12

Reported EPS: +11.2% Net Cash Position

In euros In million euros


BIC IN 2012 Operational Performance

6

Net Sales growth at constant currencies

Net Sales growth on a comparative basis

* See glossary

7.0%

5.0% 4.7%

2.4%

10.1% 10.1%

2.1%

0.7%

6.5%

4.6%

3.3%

1.6%

-0.6%

5.9%

3.1% 2.8%

17.5% 17.9% 17.4%

15.1% 15.3%

17.2%

19.9% 19.7%

2005 2006 2007 2008 2009 2010 2011 2012

Normalized*

IFO margin


BIC IN 2012 Continued Investments - Consumer Brand Support

7

Products Brand building

China

BIC Stationery

Flagship store

in Shanghaï Korea

Subway decoration

Mexico

Poland

Europe

France


BIC IN 2012 Continued Investments to support future growth

52% Development CAPEX

(capacities and new products)

Construction of a writing instrument facility

in Tunisia

• Better serve the Middle-East and African

markets

Expansion of our shaver packaging facility

in Mexico

• Support the growth of our North and Central

America Markets

BIC APP new ERP

• Improve customer service

8

CAPEX

77 83

53 63

89

125

5.3% 5.9% 3.4% 3.4%

4.9% 6.6%

2007 2008 2009 2010 2011 2012

Total Capex to sales


BIC IN 2012 Continued Investments to support future growth

1/3 of R&D spending dedicated

to portable fuel cell device project

• Successful integration of Angstrom Power

• Strengthened partnership with CEA

(Commissariat à l’Energie Atomique

et aux Energies Alternatives) on the core

fuel cell technology

• Product launch expected within 4 years,

in line with initial plan

9

Research and Development and New Products

23.2 23.5 24.5 23.8 21.8 20.3

24.5

33.5

25%

22% 24%

25%

27%

21% 22%

21%

2005 2006 2007 2008 2009 2010 2011 2012

Research and Development Expenses (in M€)

New Products as % of sales


BIC IN 2012 Cash Generation

10

Free Cash Flow before acquisitions and disposals*

Free Cash Flow after acquisitions and disposals*

Strong increase

of cash

from operations

Improved working

capital as %

of sales

* See glossary

In million euros

98.9

178.6

128.9

145.0

308.3

205.0

115.7

185.4

98.9

147.3

115.9

143.5 126.2

222.4

108.9

186.1

2005 2006 2007 2008 2009 2010 2011 2012


0.90

1.15 1.3 1.35 1.35 1.40

1.90

2.20

2.56

1.00 1.00

1.80

2.15

3.11 3.43 3.51 3.00 3.15

4.29

5.00 5.56

2004 2005 2006 2007 2008 2009 2010 2011 2012

Dividend Per Share Exceptional dividend EPS

* On ordinary dividend

Attributed fiscal year

** Payment 29 may 2013 subject to the approval the AGM of May 15, 2013

BIC IN 2012 Shareholders Remuneration

11

Proposal to the AGM (May 15, 2013):

2.56 euros ordinary dividend** per share (+16.4%)

Dividend In euros

42% 37% 38% 38% 45% 44% 46%

Pay-out ratio*

44%


43 25

58 64 65 65 68 91

104 122

21 51

49

85

86 72

49 40 26 2

42 101

1.6

In 2004 In 2005 In 2006 In 2007 In 2008 In 2009 In 2010 In 2011 In 2012 In 2013 est.

BIC IN 2012 Shareholders Remuneration

12

Total Cash returned to Shareholders

In million euros

* Estimates based on 31-DEC-2012 number of shares outstanding excluding treasury shares

Ordinary dividend Exceptional dividend Share buyback

In million euros

150 148

107 104 91

67

159

192 191


AGENDA

13

2012

2013







BIC IN 2012 Consumer business

+4.7%

+7.8%

+3.0%

14

Évolution à base comparable Breakdown by geographies

+6.3%

+5.3%

2011 2012

36%

DEVELOPING

MARKETS

27%

EUROPE

37%

NORTH

AMERICA

EUROPE

NORTH AMERICA

DEVELOPING

MARKETS

1,607.6 million euros net sales

Change on a comparative basis


BIC STATIONERY IN 2012 Market trends and market share evolution

15

Market trends BIC market share


BIC STATIONERY IN 2012

16

2011 2012

% chge on a comparative

basis*

Volumes (in billion of units)

4.825 4.889 +1.3%

Net Sales (in million euros)

588.5 617.9 +2.6%

2012

2011

Developed markets

Europe: low-single digit growth

Market share gains

Strong performance of France Benelux, Romania, and Poland

Office Suppliers Channel once again impacted by the challenging

economic environment

North America: mid-single digit growth

Slight decrease of market share

Elevated brand support activity from competitors supporting

their new products initiatives

Continued price pressure from private labels in the Office Products

channel

Developing markets: low-single digit increase

Good performance in Middle-East and Africa

Leadership maintained in Classic ball pens and strong growth

in value-added ball pens in Latin America where the market

was flat (softening economic trends)

Sales driven by a brand awareness campaign and product range

expansion in Asia

Accelerated slowdown in Office Products channel in Europe

Good performance in North America performance compared to Q4 2011

Unexpected returns in a few Latin American countries due to adjustment

of customer inventories. Sales of BIC products to consumers (sell-out)

remained good with continued market share gains in most countries

(notably Brazil - Mexico)

Full Year 2012

Q4 2012

* See glossary

Volumes and Net Sales

Net sales growth on a comparative basis*

9.4%

3.4% 1.5%

4.0%

7.7% 6.5%

-4.7%

1.7%

Q1 Q2 Q3 Q4


BIC LIGHTERS IN 2012 Market trends and market share evolution

17



BIC LIGHTERS IN 2012

18

2011 2012


basis*


1.318 1.361 +3.3%


510.8 551.0 +4.3%

2012

2011

Developed markets

Europe: mid-single digit growth

Good performance of Eastern Europe

Distribution gains in large countries (France, Italy) despite on-going

imports of non-compliant Asian lighters

North America: mid-single digit growth

Market share gains in both the U.S. and Canada

Continuous success of added-value sleeve products

Sustained growth in Multi-purpose lighters

Developing markets: low-single digit increase

In Latin America: lighter market affected by anti-tobacco regulations

and important tax increases, notably in Brazil. Market shares gains

in most countries

In Middle-East and Africa: good performance thanks

to distribution gains

In Asia: sales driven by improved distribution strategy in convenience

stores and sleeves designed specifically for the region

Good performance in North America

Full Year 2012

Q4 2012

* See glossary



10.3%

12.0%

5.7% 6.7%

9.3%

2.5% 3.2%

2.4%

Q1 Q2 Q3 Q4


BIC SHAVER IN 2012 Market trends and market share evolution

19


Full Year 2012 Results 20

Refillable Total One Piece

SHAVER MARKETS EVOLUTION

% change vs YAG – value

Western Europe USA

Source: USA: IRI FDMX – Dec 2011 & 2012

Europe: Nielsen – Dec 2011 & YTD Oct 2012 (*France, Spain, Italy, Greece)

-2.7% -3.1% -2.0% -2.3% -2.7%

-3.6%

2011 YTD Oct 2012

4.2% 4.0%

6.7%

5.5%

2.7% 3.2%

2011 2012


BIC SHAVER IN 2012

21

2011 2012


basis*


2.336 2.413 +3.3%


328.2 373.5 +10.1%

2012

2011

Developed markets

Europe: low-single digit growth

Challenging environment in the southern countries

Market share gains in most countries (France, Sweden, Greece, Ukraine)

Success of Classic 3 blade products (BIC® 3, BIC® Flex 3 with movable

blades, BIC® Simply Soleil® for women)

North America: double digit growth

Continued market share gains in the U.S. (near 2 points year on year)

• Success of our new products (BIC® Soleil Savvy for women

and BIC® Hybrid 4 advance for men)

• Effective promotional campaigns. Expanded distribution

and strong shelf presence

High level of promotion from our competitors

Developing markets: double digit growth

Good resistance of our single and twin blades products

Rapid growth of our 3-Blade “BIC® Comfort 3®”

Continued market share gains in the U.S. despite aggressive

competitors promotional campaigns

Full Year 2012

Q4 2012



* See glossary

11.9% 13.5%

5.1% 6.5%

18.6%

4.9%

14.4%

3.1%

Q1 Q2 Q3 Q4


BIC OTHER PRODUCTS IN 2012

22

Change in net sales on a comparative basis

2011 2012


basis*


94.5 65.2 +14.3%

* See glossary

2011

2012

Solid performance of BIC Sport (36.0% of other

consumer products category): +27.8% at constant

currencies

• Success of the Stand-Up-Paddle boards,

particularly in North America

Disposal of the Phone card distribution business

in France (+0.8 million euros net proceed)

3.3% 4.3%

-2.5%

-7.8%

5.9%

17.3% 19.5%

16.8%

Q1 Q2 Q3 Q4


BIC IN 2012 Consumer Business Activities Normalized* IFO margin

23

Improved manufacturing

efficiency and strict cost control

Slightly less favourable

cost absorption

Increase in raw materials

(rare earth for flint)

14.2% 15.3% 15.7%

2011 2012 2012 excludingSpecial Premium

39.1% 37.7% 38.0%

2011 2012 2012 excludingSpecial Premium

18.2% 17.3% 17.9%

2011 2012 2012 excludingSpecial

Premium

Shavers Lighters Stationery

* See glossary


9%

7%

54%

30%

ADVERTISING AND PROMOTIONAL PRODUCTS 2012 U.S. market dynamics

24

2012 U.S. market evolution by product segments

Total market up 5%

Writing

Instruments

+3%

Calendars

-2%

Apparel

+12%

Hard Goods

+1%

Sources: BIC estimates based on PPAI and ASI Q3 2012 reports


BIC APP IN 2012

25

* See glossary


Normalized* IFO margin*

Full Year 2012

Stationery (49% of BIC APP sales) Europe

Continued very challenging economic environment in Southern countries

North America First half was slightly positive compared to last year

Second half sales affected by the implementation of our new ERP

(shipment delays)

Developing Markets Continued good performance

Hard goods (31% of BIC APP sales) Europe

Strongly impacted by the economic situation in Southern Europe

Good performance of new products

North America Pressure from low priced suppliers

Developing Markets Performed best thanks to new products

Calendars (20% of BIC APP sales) Market share maintained in a soft market

North America Stationery and Hard Goods

Further impact of customer service issues (new ERP)

Calendar business Slightly impacted by the new ERP

Europe Southern Europe countries continued to suffered (double digit sales

decline in Spain, Greece and Italy)

Northern Europe countries (France, Germany and the Netherlands)

impacted by the consolidation of our product portfolio (focus given

on the most profitable items)

Q4 2012

2011 2012


basis*


302.0 291.1 -9.2%

Net sales

-8.8% -11.3%

-10.0% -10.8%

-0.7%

-9.8% -11.3% -12.2%

Q1 Q2 Q3 Q4

8.1% 7.6% 8.6%

2011 2012 Excludingspecial

premium


AGENDA

26

2012

2013







BIC Group In million euros 2011 2012 Change

Change at constant

currencies*

Change on a comparative

basis*

Net Sales 1,824.1 1,898.7 +4.1% +0.7% +2.8%

Gross Profit 898.5 965.4 +7.4%

Normalized* IFO 362.4 373.8 +3.1%

Income from Operations

339.7 370.5 +9.1%

2012: FROM NET SALES TO IFO

* See glossary


2012: FROM NORMALIZED* IFO TO REPORTED IFO

28

BIC Group In million euros 2011 2012

Normalized* IFO 362.4 373.8

Restructuring costs -5.1 -8.7

Impairment of goodwill and trademarks related

to the disposals of PIMACO B to B divisions -9.9 -

Impairment of goodwill recorded in “Other Consumer products”, recognizing the challenging market conditions in some non-core product segments in Greece

-8.7 -

Gains on disposals / Real Estate / others +1.0 +5.4

IFO as Reported 339.7 370.5

* See glossary


+1.5

-0.1 -0.5 -1.1

+0.5

2011 normalized IFOmargin

Gross Margin Brand support Increase in fuel cellexpenses

Other operatingexpenses

2012 normalized IFOmargin

Special Premiumimpact

2012 normalized IFOmargin excludingspecial premium

19.7% 19.9%

29

* See glossary

20.2%

Investments

in future growth

2012 NORMALIZED* INCOME FROM OPERATIONS MARGIN


2012: FROM IFO TO GROUP NET INCOME

30

BIC Group In million euros 2011 2012

Normalized* IFO 362.4 373.8

Non recurring items -22.7 -3.3

IFO 339.7 370.5

Interest income 10.6 12.5

Finance costs -1.4 -2.0

Income before Tax 348.8 381.0

Income tax -115.1 -121.6

Tax rate 33.0% 31.9%

Income from associates 4.1 3.7

Group Net Income 237.9 263.1

Average number of shares outstanding net of treasury shares 47,565,299 47,339,322

EPS 5.00 5.56

Normalized* EPS 5.38 5.61

* See glossary


2012 CAPEX

31

25% 14%

37% 40% 52%

83

53

63

89

125

2008 2009 2010 2011 2012

Of which development CAPEX

(capacities and new products)

In million euros

STATIONERY 21%

LIGHTERS 23%

SHAVERS 32%

OTHERS 15%

BIC APP 9%


Continued impact

of strategic raw

materials

inventory built

2012 WORKING CAPITAL

Working Capital as % of sales Inventories as % of sales

BIC Group

In million euros

December

2010

December

2011

December

2012

Total Working

Capital 449.7 558.4 575.7

Of which inventories

344.0 411.3 404.9

Of which Trade and other

receivables 389.4 416.9 446.1

Of which Trade and other payables

130.3 110.8 112.1 -4.8

-0.4

2.2

10.8

-14.2

-6.4

BIC APP

Other Products

Shavers

Lighters

Stationery

Total Group

24.6%

30.6% 30.3%

2010 2011 2012

18.8% 22.5% 21.3%

2010 2011 2012


329.5 334.5

369.5

-37.9 -28.9

-125.4

1.3

-189.5 -1.6

25.5

-8.0

December 2011Net CashPosition

Cash fromoperations

Impact ofworking capital

Other Cash FlowFrom Operations

CAPEX Divestitures &real estate gains

2011 DividendPayment

Share buyback Exercise of stockoptions and

liquidity contract

Others December 2012Net CashPosition

NET CASH POSITION

33

Operations Shareholders

Remuneration

In million euros

Net Cash From Operations:

+302.7M€

(1): Ordinary dividend: 104.2 million euros – Special dividend : 85.3 million euros (2): Total FY 2012 share buy-back: 20,878 shares – 1.6 million euros


BALANCE SHEET

In million euros

Assets Equity & Liabilities

558.4 575.7

260.2 294.4

329.5 334.5

262.6 266.4

362.5 400.2

2011 2012

Working capital*

Others

Net cash

position

Intangible assets

Tangible assets

306.1 375.9

1467.1 1495.3

2011 2012

Shareholders’

equity

Others

* Working capital = Net Inventory + Trade and other receivables – Trade and other payables – Other assets and liabilities


New products by categories

AGENDA

35

2012

2013




Mario Guevara




36

New Products and line extension

Cristal Gel Refresh

Erasable highlighter tape


880

1030

1240

2013 est. 2014 est. 2015 est.


37

The Touch Screen technology is creating a revolution, changing how people communicate, work and write

In million units

A fast growing market

Note taking

App

Drawing/ Sketching

App

Learning how to write

App

New needs emerging on the market

Source: IHS iSuppli



38

5 €

9 € 10 €

11 €

18 €

22 €

25 € 25 €

BIC Competitor2

Competitor3

Competitor5

Competitor7

Competitor9

Competitor10

Competitor12


BIC LIGHTERS IN 2013

39

Europe North America

Latin America Asia


BIC SHAVERS IN 2013 Developing countries

40

3 spring-mounted blades

Less irritations

Easy to rinse (movable blades)

Lubricating strip

Lanolin & Vitamin E

Moisturizing

Skin softening & smoothing

Sensitive green color

Pivoting head

Europe : BIC Flex O3 Control, A shaver designed for young men starting to buy their own shaver

U.S.: BIC Soleil Shave & Trim An ingenious trimmer head that slides on & off disposable razor

Consumer Target:

Women 18-34 years

Consumer Target:

Young Men 16-25 years


BIC SHAVERS IN 2013 Developing countries

41

Latin America: BIC® Flex 4 A 4 blades rechargeable shaver with moveable blade technology

A compelling offer (price + performance) to enter the emerging

and evolving Latin American refillable shaver

market

4 moveable blade head

New Handle Design

2010 2011 2012

Value / Evolution vs previous year*

Systems market evolution in Brazil

*: Public data and BIC estimates

+8% +10%

+14%


BIC APP IN 2013

42

Focus on customer service & innovation


AGENDA

43

2012

2013







Total market expected to grow low to mid-single digit

On-going competitive pressure in the Office Product

channel in developed countries

Continued steady growth in developing markets

driven by income and literacy growth

Stationery Lighters

Shavers Advertising

& Promotional Products

Flat to slight decline in mature markets

Mid single digit growth in developing markets

Total market expected to grow low to mid-single digit

Accelerated new product and promotional activity

from competitors in developed markets

Continued steady growth in developing markets

Low to mid-single growth expected in the U.S.

Continued challenging environment in Europe

(notably southern Europe)

2013 MARKET ASSUMPTIONS

44


14.2% 18.2% 17.3%

2010 2011 2012

12.1% 14.2% 15.3%

2010 2011 2012

9.2% 8.1% 7.6%

2010 2011 2012

+7.6%

+9.1% +10.1%

+6.7%

+4.1%

+2.6%

3 years average: 16.6%

-3.3% -10.4% -9.2%

45




Stationery Consumer Lighters

Shavers BIC APP

2010 - 2012 Net sales evolution on a comparative basis and normalized IFO margin

+11.6% +8.6% +4.3%

36.2% 39.1% 37.7%

2010 2011 2012


Net sales growth* in line with mid-term targets

• Continue to leverage our “Quality and Price” positioning to further strengthen

our positions thanks to distribution gains

Consumer

Business

Focus on cash generation

Continued investments in future profitable growth

• Brand support

• Increased manufacturing facilities

‒ Tunisia writing Instrument and Mexico shaver facilities

• Portable fuel cell

46

Advertising

and Promotional

Business

Net sales* expected to be stable to slightly increasing

• Continued focus on customer service

• New Product and innovation in imprinting technology to better answer evolving

customer and end-users needs

* On a comparative basis

GROUP 2013 OUTLOOK


Appendix


2012 NET SALES

Main exchange rate evolution vs. euro

% of sales

Average rate

2011

Average rate

2012 % of change

US Dollar 42% 1.39 1.29 7.2%

Brazilian Real 11% 2.32 2.51 -8.2%

Mexican Peso 5% 17.26 16.91 2.0%

Canadian dollar 3% 1.38 1.28 7.2%

Australian dollar 2% 1.35 1.24 8.1%

South African Zar 2% 10.08 10.55 -4.7%

Non Euro European countries 5%

Sweden 9.03 8.71 3.5%

Russia 40.83 39.90 2.3%

Poland 4.11 4.18 -1.7%

British Pound 0.87 0.81 6.9%

% of sales

Average rate

Q4 11

Average rate

Q4 12 % of change

US Dollar 43% 1.35 1.30 3.7%

Brazilian Real 15% 2.43 2.67 -9.9%

Mexican Peso 3% 18.38 16.79 8.7%

Canadian dollar 3% 1.38 1.29 6.5%

Australian dollar 3% 1.34 1.25 6.7%

South African Zar 3% 10.92 11.28 -3.3%

Non Euro European countries 5%

Sweden 9.10 8.62 5.3%

Russia 42.15 40.33 4.3%

Poland 4.42 4.11 7.0%

British Pound 0.86 0.81 5.8%


2012 GROUP NET SALES EVOLUTION

By geography

Change on a comparative basis* Q1 12 Q2 12 Q3 12 Q4 12 2012

+4.3%

+15.3%

+5.8%

+0.8%

+2.8%

+5.8%

-3.5%

-1.8%

+7.8%

-2.7%

+0.5% +0.1%

-0.3%

+3.5%

+4.7%

Europe North America Developing Markets

* See glossary


2012 CONSUMER PRODUCTS NET SALES EVOLUTION

By geography

Change on a comparative basis* Q1 12 Q3 12 Q4 12 2012

+7.9%

+18.9%

+5.9%+5.2% +5.2% +5.4%

-0.9%

+1.2%

+8.0%

-0.2%

+8.5%

+0.4%

+3.0%

+7.8%

+4.7%

Europe North America Developing

Markets

* See glossary

Q2 12


OTHER CONSUMER PRODUCTS

ADVERTISING & PROMOTIONAL PRODUCTS

SHAVERS

2012 NET SALES BREAKDOWN

By category

33%

29%

20%

3%

15%

STATIONERY

LIGHTERS

51


NORTH AMERICA

DEVELOPING MARKETS EUROPE

2012 NET SALES BREAKDOWN

By geography

26%

43%

31%

52


GROUP QUARTERLY FIGURES

In million euros FY 09 Q1 10 Q2 10 Q3 10 Q4 10 FY 10 Q1 11 Q2 11 Q3 11 Q4 11 FY 11 Q1 12 Q2 12 Q3 12 Q4 12 FY 12

Net Sales 1,562.7 378.3 487.3 492.6 473.3 1,831.5 409.9 476.2 468.2 469.8 1,824.1 445.0 500.8 488.8 464.1 1,898.7

YoY actual

changes +10.0% +22.7% +20.4% +18.7% +8.9% +17.2% +8.4% -2.3% -5.0% -0.7% -0.4% +8.6% +5.2% +4.4% -1.2% +4.1%

YoY changes

at constant

currencies*

+10.1% +21.6% +12.0% +8.7% +1.6% +10.1% +4.9% +3.5% +0.2% +0.3% +2.1% +7.1% +0.4% -1.7% -2.2% +0.7%

YoY changes

on a comparative

basis*

-0.6% +8.8% +3.5% +9.6% +2.6% +5.9% +6.6% +4.7% +0.8% +1.1% +3.1% +9.0% +3.1% +0.5% -0.4% +2.8%

IFO 216.0 47.8 95.0 90.1 71.7 304.6 82.0 92.9 89.8 75.0 339.7 82.4 119.1 100.4 68.6 370.5

Normalized IFO* 239.6 53.7 88.7 92.2 80.3 314.9 83.1 102.1 91.0 86.2 362.4 81.3 120.0 97.6 75.0 373.8

IFO margin 13.8% 12.6% 19.5% 18.3% 15.2% 16.6% 20.0% 19.5% 19.2% 16.0% 18.6% 18.5% 23.8% 20.5% 14.8% 19.5%

Normalized IFO

margin* 15.3% 14.2% 18.2% 18.7% 17.0% 17.2% 20.3% 21.5% 19.4% 18.3% 19.9% 18.3% 24.0% 20.0% 16.2% 19.7%

Income before tax 218.7 50.7 93.3 88.6 70.2 302.8 78.3 94.7 96.0 79.9 348.8 84.1 123.0 101.9 72.0 381.0

Net Income 151.7 35.4 64.3 61.1 46.6 207.5 53.9 64.6 65.4 54.0 237.9 57.5 85.1 70.4 50.1 263.1

EPS 3.15 0.73 1.33 1.26 0.96 4.29 1.12 1.35 1.37 1.13 5.00 1.22 1.80 1.49 1.06 5.56

53

* See glossary


In million euros FY 09 Q1 10 Q2 10 Q3 10 Q4 10 FY 10 Q1 11 Q2 11 9M 11 Q3 11 Q4 11 FY 11 Q1 12 Q2 12 Q3 12 Q4 12 FY 12

Europe

Net Sales 503.6 110.9 152.1 134.3 127.5 524.9 112.3 152.3 398.5 133.9 119.1 517.7 111.5 143.7 120.9 108.5 484.5

YoY actual

changes - +20.9% +1.6% +2.0% -2.2% +4.2% +1.3% +0.1% +0.3% -0.3% -6.6% -1.4% -0.7% -5.7% -9.8% -8.9% -6.4%

YoY changes

at constant

currencies*

- +19.9% +0.6% +0.6% -3.3% +3.1% +0.5% +0.2% +0.3% +0.2% -6.6% -1.4% -0.8% -6.1% -10.9% -9.6% -7.0%

YoY changes

on a comparative

basis*

- +5.6% +0.6% +0.6% -3.3% +0.5% +2.0% +0.9% +1.2% +1.0% -5.6% -0.4% +4.3% +0.8% -3.5% -2.7% -0.3%

North America

Net Sales 641.0 148.8 210.8 225.4 188.7 773.8 149.8 186.6 538.3 201.9 189.7 728.0 179.4 214.9 224.8 198.8 818.0

YoY actual

changes - +22.1% +33.8% +24.9% +4.3% +20.7% +0.6% -11.5% -8.0% -10.4% +0.5% -5.9% +19.8% +15.2% +11.3% +4.8% +12.4%

YoY changes

at constant

currencies*

- +28.2% +23.4% +11.9% -4.3% +13.2% -1.0% -0.3% -0.9% -1.4% -0.1% -0.7% +15.3% +2.8% -1.8% +0.5% +3.5%

YoY changes

on a comparative

basis*

- +6.4% +1.4% +14.1% -2.0% +5.0% +1.9% +1.7% +0.6% -1.4% -0.1% +0.4% +15.3% +2.8% -1.8% +0.5% +3.5%

Developing

markets

Net Sales

418.1 118.5 124.4 132.9 157.1 532.8 147.8 137.3 417.5 132.3 161.0 578.4 154.1 142.2 143.1 156.8 596.2

YoY actual

changes - +25.1% +27.7% +29.3% +27.5% +27.4% +24.7% +10.4% +11.1% -0.4% +2.5% +8.6% +4.3% +3.6% +8.1% -2.6% +3.1%

YoY changes

at constant

currencies*

- +14.8% +11.2% +13.4% +15.3% +13.8% +16.6% +14.0% +10.9% +2.9% +6.5% +9.6% +4.7% +4.5% +7.8% +0.1% +4.1%

YoY changes

on a comparative

basis*

- - - - - - +16.6% +14.0% +11.5% +4.6% +8.1% +10.5% +5.8% +5.8% +7.8% +0.1% +4.7%

54

GROUP QUARTERLY FIGURES BY GEOGRAPHY

* See glossary


In million

euros FY 09 Q1 10 Q2 10 Q3 10 Q4 10 FY 10 Q1 11 Q2 11 Q3 11 Q4 11 FY 11 Q1 12 Q2 12 Q3 12 Q4 12 FY 12

Net Sales 1,274.3 308.6 398.2 399.9 362.3 1,469.0 351.0 407.7 391.6 371.7 1,522.1 384.9 433.7 414.0 375.0 1,607.6

YoY actual

changes +12.3% +12.9% +22.5% +13.1% +15.3% +13.8% +2.4% -2.1% +2.6% +3.6% +9.6% +6.4% +5.7% +0.9% +5.6%

YoY changes

at constant

currencies*

+10.3% +4.6% +12.2% +5.2% +7.9% +9.8% +8.0% +2.8% +4.1% +6.0% +8.4% +2.1% +0.2% +0.5% +2.7%

YoY changes

on a comparative

basis*

+10.3% +4.6% +12.2% +5.2% +7.9% +9.8% +8.0% +3.3% +4.8% +6.3% +10.6% +5.3% +2.9% +2.8% +5.3%

IFO 192.1 56.4 84.8 81.3 54.6 277.2 85.9 92.4 83.6 58.3 320.3 86.7 112.1 93.8 60.3 352.8

Normalized IFO* 209.5 56.7 85.3 81.6 57.9 281.5 85.9 100.9 83.6 67.6 338.1 85.2 113.0 90.9 62.7 351.8

IFO margin 15.1% 18.3% 21.3% 20.3% 15.1% 18.9% 24.5% 22.7% 21.4% 15.7% 21.0% 22.5% 25.9% 22.7% 16.1% 21.9%

Normalized IFO

margin* 16.4% 18.4% 21.4% 20.4% 16.0% 19.2% 24.5% 24.7% 21.4% 18.2% 22.2% 22.1% 26.0% 22.0% 16.7% 21.9%

55

GROUP CONSUMER

* See glossary


STATIONERY

In million euros FY 09 Q1 10 Q2 10 Q3 10 Q4 10 FY 10 Q1 11 Q2 11 Q3 11 Q4 11 FY 11 Q1 12 Q2 12 Q3 12 Q4 12 FY 12

Net Sales 509.6 112.6 173.4 166.8 128.0 580.7 127.7 170.2 160.8 129.7 588.5 138.1 187.5 161.2 131.11 617.9

YoY actual

changes +12.5% +9.2% +24.2% +9.9% +14.0% +13.4% -1.8% -3.6% +1.4% +1.3% +8.1% +10.2% +0.2% +1.0% +5.0%

YoY changes

at constant

currencies*

-2.7% +10.7% +1.9% +14.1% +1.1% +6.7% +9.4% +3.4% +1.5% +4.0% +4.1% +7.7% +6.5% -4.7% +1.7% +2.6%

YoY changes

on a

comparative

basis*

-2.7% +10.7% +1.9% +14.1% +1.1% +6.7% +9.4% +3.4% +1.5% +4.0% +4.1% +7.7% +6.5% -4.7% +1.7% +2.6%

IFO 43.3 7.7 28.8 27.6 5.2 69.3 22.1 30.7 21.3 9.3 83.5 23.2 42.5 22.3 6.6 94.6

Normalized

IFO* 48.9 8.3 29.1 27.7 5.1 70.3 22.1 30.7 21.3 9.3 83.5 22.6 42.9 21.6 7.6 94.7

IFO margin 8.5% 6.9% 16.6% 16.5% 4.0% 11.9% 17.3% 18.0% 13.3% 7.2% 14.2% 16.8% 22.7% 13.9% 5.0% 15.3%

Normalized IFO

margin* 9.6% 7.4% 16.8% 16.6% 4.0% 12.1% 17.3% 18.0% 13.3% 7.2% 14.2% 16.3% 22.9% 13.4% 5.8% 15.3%

56

* See glossary


LIGHTERS

In million


Net Sales 398.9 107.0 119.3 123.5 131.1 480.8 122.9 125.1 124.0 138.9 510.8 136.7 135.0 135.5 143.8 551.0

YoY actual

changes +5.9% +12.8% +22.3% +26.3% +20.6% +20.5% +14.9% +4.9% +0.4% +6.0% +6.2% +11.2% +7.9% +9.3% 3.5% +7.9%

YoY changes

at constant

currencies*

+5.3% +10.4% +11.0% +13.5% +11.4% +11.6% +10.3% +12.0% +5.7% +6.7% +8.6% +9.3% +2.5% +3.2% +2.4% +4.3%

YoY changes

on a

comparative

basis*

+5.3% +10.4% +11.0% +13.5% +11.4% +11.6% +10.3% +12.0% +5.7% +6.7% +8.6% +9.3% +2.5% +3.2% +2.4% +4.3%

IFO 127.9 40.9 45.4 45.3 42.0 173.6 50.2 52.1 48.1 49.5 199.8 51.0 54.3 53.4 49.5 208.2

Normalized

IFO* 135.7 40.7 45.4 45.4 42.6 174.0 50.2 52.1 48.1 49.6 199.9 51.1 54.7 51.5 50.4 207.6

IFO margin 32.1% 38.2% 38.1% 36.7% 32.0% 36.1% 40.8% 41.7% 38.8% 35.6% 39.1% 37.3% 40.2% 39.4% 34.4% 37.8%

Normalized IFO

margin* 34.0% 38.0% 38.1% 36.7% 32.5% 36.2% 40.8% 41.7% 38.8% 35.7% 39.1% 37.3% 40.5% 38.0% 35.0% 37.7%

* see glossary

57


SHAVERS

58

In million

euros FY09 Q1 10 Q2 10 Q3 10 Q4 10 FY 10 Q1 11 Q2 11 Q3 11 Q4 11 FY 11 Q1 12 Q2 12 Q3 12 Q4 12 FY 12

Net Sales 268.8 66.4 79.2 84.3 77.8 307.8 76.7 85.2 84.4 81.8 328.2 92.6 93.1 102.5 85.4 373.5

YoY actual

changes +1.7% +12.8% +11.6% +19.0% +14.3% +14.5% +15.6% +7.6% +0.1% +5.1% +6.6% +20.6% +9.2% +21.4% +4.4% +13.8%

YoY changes

at constant

currencies*

+2.4% +10.9% +3.3% +9.1% +7.7% +7.6% +11.9% +13.5% +5.1% +6.5% +9.1% +18.6% +4.9% +14.4% +3.1% +10.1%

YoY changes

on a

comparative

basis*

+2.4% +10.9% +3.3% +9.1% +7.7% +7.6% +11.9% +13.5% +5.1% +6.5% +9.1% +18.6% +4.9% +14.4% +3.1% +10.1%

IFO 30.3 10.5 12.3 11.2 7.9 41.9 15.5 16.7 16.7 10.9 59.8 15.1 17.0 23.4 9.5 65.0

Normalized

IFO* 33.5 10.4 12.4 11.3 9.6 43.6 15.5 16.7 16.7 10.9 59.8 15.1 17.1 22.7 9.9 64.8

IFO margin 11.3% 15.8% 15.5% 13.3% 10.2% 13.6% 20.3% 19.6% 19.8% 13.3% 18.2% 16.3% 18.3% 22.9% 11.1% 17.4%

Normalized IFO

margin* 12.5% 15.7% 15.6% 13.4% 12.3% 14.2% 20.3% 19.6% 19.8% 13.3% 18.2% 16.3% 18.4% 22.1% 11.6% 17.3%

* See glossary


In million


Net Sales 97.0 22.6 26.3 25.3 25.5 99.7 23.7 27.2 22.4 21.2 94.5 17.5 18.1 14.8 14.7 65.2

YoY actual

changes +7.8% +3.3% +8.2% -6.4% +2.7% +4.9% +3.5% -11.6% -16.6% -5.1% -25.9% -33.4% -33.9% -30.5% -31.0%

YoY changes

at constant

currencies*

+5.4% 0.0% +5.2% -8.3% +0.1% +3.3% +4.3% -10.8% -16.2% -5.0% -26.1% -35.1% -35.5% -29.8% -31.8%

YoY changes

on a

comparative

basis*

+5.4% 0.0% +5.2% -8.3% +0.1% +3.3% +4.3% -2.5% -7.8% -0.5% +5.9% +17.3% +19.5% +16.8% +14.3%

IFO* -9.4 -2.6 -1.7 -2.8 -0.5 -7.6 -1.9 -7.1 -2.5 -11.3 -22.8 -2.6 -1.7 -5.3 -5.2 -15.0

Normalized

IFO* -8.5 -2.7 -1.6 -2.8 0.6 -6.4 -1.9 1.4 -2.5 -2.1 -5.2 -3.5 -1.7 -4.9 -5.2 15.3

59

OTHER CONSUMER PRODUCTS

* See glossary


ADVERTISING & PROMOTIONAL PRODUCTS (BIC APP)

In million


Net Sales 288.4 69.7 89.1 92.7 111.0 362.6 58.9 68.4 76.6 98.1 302.0 60.1 67.1 74.8 89.1 291.1

YoY actual

changes +107.0% +71.8% +4.6% -2.8% +25.7% -15.5% -23.3% -17.4% -11.6% -16.7% +2.1% -1.9% -2.4% -9.2% -3.6%

YoY

changes

at constant

currencies*

+114.1% +62.8% -4.4% -8.7% +19.8% -16.6% -16.5% -10.9% -11.9% -13.7% -0.7% -9.8% -11.3% -12.2% -9.2%

YoY changes

on a

comparative

basis*

-3.6% -4.1% -0.4% -5.1% -3.3% -8.8% -11.3% -10.0% -10.8% -10.4% -0.7% -9.8% -11.3% -12.2% 9.2%

IFO 23.9 -8.6 10.2 8.8 17.1 27.4 -3.9 0.4 6.1 16.7 19.3 -4.2 6.9 6.6 8.3 17.7

Normalized

IFO* 30.1 -2.9 3.4 10.6 22.4 33.4 -2.9 1.2 7.4 18.5 24.3 -3.9 7.0 6.6 12.3 22.0

IFO margin 8.3% -12.3% 11.4% 9.5% 15.4% 7.6% -6.7% 0.6% 8.0% 17.0% 6.4% -7.0% 10.3% 8.9% 9.3% 6.1%

Normalized

IFO margin* 10.4% -4.2% 3.8% 11.4% 20.2% 9.2% -4.9% 1.8% 9.7% 18.9% 8.1% -6.6% 10.5% 8.9% 13.8% 7.6%

60

* See glossary


MISCELLANEOUS

Capital evolution:

As of December 31, 2012, the total number of issued shares of SOCIÉTÉ BIC

is 48,378,297 shares, representing:

• 68,450,657 voting rights,

• 67,611,166 voting rights excluding shares without voting rights.

Total treasury shares at the end December 2012: 839,491

61


GLOSSARY

At constant currencies:

• Constant currency figures are calculated by translating the current year figures at prior year

monthly average exchange rates. All net sales category comments are made at constant

currencies or comparative basis.

Comparative basis:

• At constant currencies and constant perimeter. Figures at constant perimeter exclude

the impacts of acquisitions and/or disposals that occurred during the current year

and/or during the previous year, until their anniversary date.

Normalized IFO:

• Normalized for 2012 means excluding restructuring, the costs of BIC APP integration plan,

the gain on the disposal of the phone cards distribution business in France and real estate gains

- for 2011 excluding restructuring, impairment of goodwill and trademarks related to the disposal

of PIMACO business to business divisions in Brazil, impairment of goodwill related

to “other products” Greece consumer division and the gain on the disposal of REVA peg

business.

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

62


This document contains forward-looking statements.

Although BIC believes its expectations 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 27 2012

DISCLAIMER

63


1st Quarter 2013 results April 25, 2013 Conference Call

2012 AGM May 15, 2013 Meeting – BIC Headquarter

in Clichy

2nd Quarter & 1st Half 2013

results August 1, 2013 Conference Call

3rd Quarter 2013 results October 23, 2013 Conference Call

2013 AGENDA

All dates to be confirmed

64

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