9M-Q3 2012 results 24 October 2012 contact@bicworld.com +33 (0)1 45 19 52 26
Group and category highlights Mario Guevara 2
Group 9 months 2012 key figures Net Sales: 1,434.6 million euros +5.9% Consumer business (86% of total sales) +6.1% +4.0% Developed markets +5.9% +1.7% Developing markets +6.4% As reported At constant currencies* On a comparative basis* Advertising & Promotional Products (14% of total sales) 7.7% Normalized* Income from Operations: 298.9 million euros 20.4% 20.8% 21.4% Normalized IFO Normalized IFO exc. Special Premium Consumer business 23.5% 23.9% 9M 2011 9M 2012 9M12 exc. Special Premium Advertising & Promotional Products 4.8% 6.3% * See glossary 3
Group 9 months 2012 Key figures EPS: +16.9% increase Net Cash Position In euros In million euros 4.50 321.0 329.5 3.85 266.8 9M 2011 9M 2012 Sept. 2011 Dec. 2011 Sept. 2012 4
9 months 2012 net sales evolution by geographies Change on a comparative basis +15.3% +9.0% +4.0% +3.1% +0.5% +4.3% +0.8% +0.4% +2.8% +4.5% +7.8% +5.8% +5.8% +6.5% 3.5% 1.8% Q1 Q2 Q3 9M Q1 Q2 Q3 9M Q1 Q2 Q3 9M Q1 Q2 Q3 9M See appendix page 24 for main currency impact 5
9 months 2012 net sales - Consumer business 1,232.6 million euros Change on a comparative basis Breakdown by geographies +10.6% +5.3% +2.9% +6.1% Developing Countries 35% Europe 27% Q1 2012 Q2 2012 Q3 2012 9M 2012 Europe North America +3.9% +7.6% North America 38% Developing Countries +6.4% 6
Stationery Consumer Industry trends 2007 2011 stationery markets evolution 2012 trends 2012 August YTD -6.5% Total 3.4% USA Office Suppliers 1.7% Super Stores 2.9% 2007 2008 2009 2010 2011 Modern Mass Market 4.3% July 2011 June 2012 Central & Eastern: +11.0% Total 0.9% Europe Western: +3.0% 2007 2008 2009 2010 2011 Office Suppliers + Traditional Stores Modern Mass Market Western Europe 3.0% 4.1% Sources: BIC estimates 2012 US = NPD/IRI - 2012 Europe: GFK (France, Belgium, Germany, UK, Italy, Spain and Greece - Traditional Channel excluded in Germany and UK) 7
Stationery Change in net sales at constant currencies Normalized IFO margin 2011 22.9% 18.4% 2012 +9.4% +7.7% +6.5% +3.4% +1.5% 4.7% +4.2% +2.9% 17.3% 16.3% 18.0% 13.3% 13.4% 16.2% 17.9% exc. Special Premium Million euros Q1 12 Q2 12 Q3 12 9M 12 Net Sales 138.1 187.5 161.2 486.8 Million euros Q1 12 Q2 12 Q3 12 9M 12 IFO 23.2 42.5 22.3 88.1 Normalized IFO 22.6 42.9 21.6 87.1 Developed markets Low -single digit growth in Europe and in North America. Q3 weak performance due to : A phasing impact due to early back-to-school shipments (sell-in) in Q2 2012 in both Europe and North America, Lower Third Quarter shipments (sell-in) in North America compared to last year, A slowdown of the Office Products channel in Europe, impacted by the challenging economic environment, particularly in Southern European countries. In Europe, 2012 back-to-school sell-through (distributors sales to consumers) was good, notably in France and Spain where we continued to gain market shares. In North America, back-to school sell-through was in line with our expectations, although, in an increasingly competitive environment, we registered marginal market share loss year -to-date in the U.S. Developing markets Mid-single digit growth Good back-to-school season in Mexico Market share gains in Argentina and Brazil despite slowing demand due to macro-economic trends in that country Middle-East and Africa affected by the instability of the political environment 9M 2012 Stationery normalized IFO margin: 17.9% compared to 16.2% in 9M 2011 Excluding the impact of the Special Premium for Employees, 9M 2012 Stationery normalized IFO margin would have been 18.4% as a result of better fixed cost efficiency. 8
Lighters Change in net sales at constant currencies Normalized IFO margin 2011 2012 +12.0% +10.3% +9.3% +5.7% +3.2% +2.5% +9.3% +5.0% 40.8% 37.3% 41.7% 40.5% 38.8% 38.0% 40.4% 38.6% 39.0% exc. Special Premium Million euros Net Sales Q1 12 Q2 12 Q3 12 9M 12 136.7 135.0 135.5 407.2 Million euros Q1 12 Q2 12 Q3 12 9M 12 IFO 51.0 54.3 53.4 158.7 Normalized IFO 51.1 54.7 51.5 157.2 Developed markets High-single digit growth in Europe and mid-single digit growth in North America In both regions, the market remained flat and we continued to benefit from innovation in value-added lighter sleeve designs and from distribution gains in Europe Developing markets Low-single digit growth in developing markets. Third Quarter sales increased mid-single digit thanks to a solid performance in the Middle-East, Africa and Latin America, particularly in Mexico, Central America and Brazil. 9M 2012 Lighters normalized IFO margin: 38.6% compared to 40.4% in 9M 2011 Excluding the impact of the Special Premium for Employees, Lighters normalized IFO margin would have been 39.0%. The positive impact of the increase in net sales was offset by an increase in production costs (raw materials). 9
Shaver markets evolution % change value Europe USA One Piece Refillable Total 6.70% 2.8% 2.1% 2.2% 2.1% 3.1% 2.7% 2.70% 4.20% 2.1% 4.3% 2.6% 2011 YTD June 2012 2011 YTD August 2012 Source: USA: IRI FDMX August 2012 Europe: Nielsen June 2012 10
Shavers Change in net sales at constant currencies Normalized IFO 2011 2012 +11.9% +18.6% +13.5% +4.9% +5.1% +14.4% +12.4% +10.0% 20.3% 16.3% 19.6% 18.4% 19.8% 22.1% 19.9% 19.1% 19.7% exc. Special Premium Million euros Net Sales Q1 12 Q2 12 Q3 12 9M 12 92.6 93.1 102.5 288.1 Million euros Q1 12 Q2 12 Q3 12 9M 12 IFO 15.1 17.0 23.4 55.5 Normalized IFO 15.1 17.1 22.7 54.9 Developed markets Low-single digit growth in Europe Continued market share gains in most countries Double-digit growth in Eastern Europe Double digit growth in North America Despite the more volatile and aggressive competitive environment, continued our market share growth in the U.S. as a result of: the success of our new products, our more for your money always brand positioning, effective promotional campaigns such as consumer trade-up packages with samples of our BIC Soleil Bella in the packages of BIC Soleil Twilight. Developing markets Double-digit growth Good performance in Latin America particularly in Mexico and Argentina, where sales were driven by the BIC Comfort 3 and despite a slowdown in Brazil 9M 2012 Shaver normalized IFO margin: 19.1% compared to 19.9% in 9M 2011. Excluding the impact of the Special Premium for Employees, Shaver 9M 2012 normalized IFO margin would have been 19.7%. The slight decrease is due to less favourable manufacturing cost absorption in 9M 2012 than in 9M 2011. 11
Other Products Consumer Change in net sales on a comparative basis Normalized IFO 2011 2012 +17.3% +19.5% +13.6% Million euros Q1 12 Q2 12 Q3 12 9M 12 +3.3% +5.9% +4.3% +1.8% Normalized IFO -3.5-1.7-4.9-10.1 In million euros 2.5% Q1 12 Q2 12 Q3 12 9M 12 Nonrecurrent items +0.8 - -0.4 +0.3 Net Sales 17.5 18.1 14.8 50.5 IFO -2.6-1.7-5.3-9.8 Very good performance of BIC Sport Phone card business in France (39.5 million euros net sales in 2011) sold in February 2012 for a net proceed of +0.8 million euros (non-recurrent items) -9.0 million euros R&D investments related to portable fuel cell (compared to -3.0 million euros in 9M 2011) 12
BIC APP Change in net sales at constant currencies Normalized IFO margin 2011 10.5% 9.7%8.9% 6.3% 2012 0.7% 1.8% 2.8% 4.8% Million euros Net Sales 8.8% 9.8% 10.0% 11.3% 11.3% 10.1% 7.7% Q1 12 Q2 12 Q3 12 9M 12 60.1 67.1 74.8 202.0 In million euros 4.9% 6.6% Q1 12 Q2 12 Q3 12 9M 12 IFO -4.2 6.9 6.6 9.4 Normalized IFO -3.9 7.0 6.6 9.7 exc. Special Premium Europe Double digit decrease in Southern European countries (Spain, Italy and Greece) Resilience of France and Northern Europe U.S. In a cautious market environment, Third Quarter sales temporally affected by the implementation of our new Enterprise Resource Planning system (ERP) resulting in shipment delays. Developing markets Sustained growth, particularly in Latin America. 9M 2012, BIC APP s normalized IFO margin : +4.8% compared to +2.8% in 9M 2011 Excluding the impact of the Special Premium for Employees, BIC APP normalized IFO margin would have been 6.3%. benefiting from the improvement of manufacturing efficiency related to the integration plan. During the Third Quarter, the benefit of the integration was more than offset by sales decline in Europe and the U.S. (impact of the new ERP implementation) 13
9 months 2012 consolidated financial figures Jim DiPietro 14
9M 2012: From Net Sales to IFO In million euros 9M 2011 9M 2012 Change Change at constant currencies* Change on a comparative basis* Net Sales 1,354.3 1,434.6 +5.9% +1.7% +4.0% Gross Profit 665.0 742.4 +11.6% Normalized* Income from Operations 276.3 298.9 +8.2% Income from Operations 264.6 301.9 +14.1% * See glossary 15
9M 2012 non-recurring items In million euros 9M 2011 As % of sales 9M 2012 As % of sales Normalized* IFO 276.3 20.4% 298.9 20.8% Restructuring costs -3.1-2.4 Goodwill and trademark impairments & related expenses 9.4 - Gains on disposals / Real Estate and others +1.0 +5.4 IFO as Reported 264.6 19.5% 301.9 21.0% *: see glossary 16
9M 2012 Normalized* Income From Operations margin 20.4% 21.4% +3.0 20.8% 0.1 0.4 1.5 0.6 9M 2011 Normalized* IFO margin Gross Margin Brand support Increase in Fuel Cell Expenses OPEX and other expenses Normalized* IFO Impact of the margin excluding employees special the impact of premium employees special premium 9M 2012 Normalized* IFO margin *: see glossary 17
9M 2012 From IFO to Group Net Income In million euros Q3 2011 Q3 2012 9M 2011 9M 2012 Normalized* IFO 91.0 97.6 276.3 298.9 Non recurring items -1.3 +2.8-11.6 +3.0 IFO 89.8 100.4 264.6 301.9 Interest income +2.5 +1.9 +6.8 +7.0 Finance costs (including monetary assets reevaluation) +3.8-0.4-2.4 +0.1 Income before Tax 96.0 101.9 268.9 308.9 Income tax 31.8 32.6 89.1 98.9 More favorable revaluation of monetary assets in 9M 2012 compared to 9M 2011 Tax rate 33.1% 32.0% 33.1% 32.0% Income from Associates 1.2 1.1 4.1 3.0 Group Net Income 65.4 70.4 183.9 213.0 Number of shares outstanding net of treasury shares 47,761,438 47,305,808 47,761,438 47,305,808 EPS 1.37 1.49 3.85 4.50 Normalized* EPS 1.39 1.45 4.01 4.46 *: see glossary 18
September 2012 Net Cash Position In million euros +270.2 329.5 76.7 86.6 +6.8 +22.4 266.8 189.5 9.3 Cash From Operating activities Total Operations Shareholders Remuneration December 2011 Net Cash Position Cash from operations Impact of working capital CAPEX Divestitures & real estate gains (1): Ordinary dividend: 104.2 million euros Special dividend : 85.3 million euros (2): Total 9M 2012 share buy-back: 20,878 shares 1.6 million euros 2011 Dividend Payment (1) Share buyback net of exercise of stock options and liquidity contract (2) Others September 2012 Net Cash Position 19
Agenda Full year 2012 outlook Mario Guevara 20
9M 2012 key points Consumer business Strengthened market share positions in all geographies thanks to our quality and value products Accelerated long-term growth-oriented investments New writing instrument plant in Tunisia BIC Education digital solution Portable fuel cell project Profitability maintained close to historical peak. Advertising and Promotional Products Very challenging environment in Southern Europe Temporarily negative impact of the new ERP implementation Strong progress of manufacturing efficiency due to the integration plan Enhanced manufacturing productivity Continued investments in brand support, research and development and production capacities Solid 9M Group Results 21
2012 outlook (1) Consumer business For the full year, we anticipate that net sales will grow midsingle digit, on a comparative basis. While accelerating the pace of investment, we expect to maintain the level of Normalized IFO margin consistent with the 2011 level. Advertising and Promotional Products The BIC APP full year 2012 net sales decline, on a comparative basis should be in line with 9 months trends. Due to the benefits of the integration plan, Full Year 2012 normalized IFO margin should be comparable to 2011 s. (1): excluding the impact of the employee special premium 22
Appendix
9M 2012 net sales main exchange rate evolution vs. euro % of sales Average rate Q3 11 Average rate Q3 12 % of change US Dollar 45% 1.42 1.25 12.0% Brazilian Real 10% 2.30 2.54-10.4% Mexican Peso 5% 17.36 16.47 5.1% Canadian dollar 3% 1.29 1.24 3.9% Australian dollar 2% 1.35 1.20 11.1% South African Zar 1% 10.06 10.35-2.9% Non Euro European countries 6% Sw eden 9.15 8.43 7.9% Russia 41.06 39.88 2.9% Poland 4.14 4.13 0.2% British Pound 0.88 0.79 10.2% % of sales Average rate 9M 11 Average rate 9M 12 % of change US Dollar 42% 1.41 1.28 9.2% Brazilian Real 10% 2.29 2.46-7.4% Mexican Peso 5% 16.89 16.95-0.4% Canadian dollar 3% 1.37 1.28 6.6% Australian dollar 2% 1.35 1.24 8.1% South African Zar 1% 9.80 10.31-5.2% Non Euro European countries 5% Sw eden 9.00 8.73 3.0% Russia 40.38 39.76 1.5% Poland 4.01 4.21-5.0% British Pound 0.87 0.81 6.9% 24
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 9M11 FY 11 Q1 12 Q2 12 Q3 12 9M 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 1,354.3 1,824.1 445.0 500.8 488.8 1,434.6 YoY actual changes YoY changes at constant currencies* YoY changes on a comparative basis* +10.0% +22.7% +20.4% +18.7% +8.9% +17.2% +8.4% -2.3% -5.0% -0.7% -0.3% -0.4% +8.6% 5.2% +4.4% +5.9% +10.1% +21.6% +12.0% +8.7% +1.6% +10.1% +4.9% +3.5% +0.2% +0.3% +2.7% +2.1% +7.1% +0.4% -1.7% +1.7% -0.6% +8.8% +3.5% +9.6% +2.6% +5.9% +6.6% +4.7% +0.8% +1.1% +3.8% +3.1% +9.0% +3.1% +0.5% +4.0% IFO 216.0 47.8 95.0 90.1 71.7 304.6 82.0 92.9 89.8 75.0 264.6 339.7 82.4 119.1 100.4 301.9 Normalized IFO* 239.6 53.7 88.7 92.2 80.3 314.9 83.1 102.1 91.0 86.2 276.3 362.4 81.3 120.0 97.6 298.9 IFO margin 13.8% 12.6% 19.5% 18.3% 15.2% 16.6% 20.0% 19.5% 19.2% 16.0% 19.5% 18.6% 18.5% 23.8% 20.5% 21.0% Normalized IFO margin* 15.3% 14.2% 18.2% 18.7% 17.0% 17.2% 20.3% 21.5% 19.4% 18.3% 20.4% 19.9% 18.3% 24.0% 20.0% 20.8% Income before tax 218.7 50.7 93.3 88.6 70.2 302.8 78.3 94.7 96.0 79.9 268.9 348.8 84.1 123.0 101.9 308.9 Net Income 151.7 35.4 64.3 61.1 46.6 207.5 53.9 64.6 65.4 54.0 183.9 237.9 57.5 85.1 70.4 213.0 EPS 3.15 0.73 1.33 1.26 0.96 4.29 1.12 1.35 1.37 1.13 3.85 5.00 1.22 1.80 1.49 4.50 * see glossary 25
Group Quarterly figures by geography In million euros FY09 Q110 Q210 Q310 Q410 FY 10 Q111 Q211 9M 11 Q311 Q411 FY11 Q112 Q2 12 Q3 12 9M 12 Europe Net Sales YoY actual changes YoY changes at constant currencies* YoY changes on a comparative basis* 503.6 110.9 152.1 134.3 127.5 524.9 112.3 152.3 398.5 133.9 119.1 517.7 111.5 143.7 120.9 376.0 - +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% +5.6% - +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% -6.2% - +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% +0.4% North America Net Sales YoY actual changes YoY changes at constant currencies* YoY changes on a comparative basis* 641.0 148.8 210.8 225.4 188.7 773.8 149.8 186.6 538.3 201.9 189.7 728.0 179.4 214.9 224.8 619.1 - +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% +15.0% - +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% +4.5% - +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% +4.5% Developing markets Net Sales YoY actual changes YoY changes at constant currencies* YoY changes on a comparative basis* 418.1 118.5 124.4 132.9 157.1 532.8 147.8 137.3 417.5 132.3 161.0 578.4 154.1 142.2 143.1 439.4 - +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% +5.3% - +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% +5.6% - - - - - - +16.6% +14.0% +11.5% +4.6% +8.1% +10.5% +5.8% +5.8% +7.8% +6.5% * see glossary
Group Consumer In million euros FY 09 Q1 10 Q2 10 Q3 10 Q4 10 FY 10 Q1 11 Q2 11 Q3 11 Q4 11 9M11 FY 11 Q1 12 Q2 12 Q3 12 9M 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 1,150.4 1,522.1 384.9 433.7 414.0 1,232.6 YoY actual changes +12.3% +12.9% +22.5% +13.1% +15.3% +13.8% +2.4% -2.1% +2.6% +4.0% +3.6% +9.6% +6.4% +5.7% +7.1% YoY changes at constant currencies* +10.3% +4.6% +12.2% +5.2% +7.9% +9.8% +8.0% +2.8% +4.1% +6.6% +6.0% +8.4% +2.1% +0.2% +3.4% YoY changes on a comparative basis* +10.3% +4.6% +12.2% +5.2% +7.9% +9.8% +8.0% +3.3% +4.8% +6.8% +6.3% +10.6% +5.3% +2.9% +6.1% IFO 192.1 56.4 84.8 81.3 54.6 277.2 85.9 92.4 83.6 58.3 262.0 320.3 86.7 112.1 93.8 292.5 Normalized IFO* 209.5 56.7 85.3 81.6 57.9 281.5 85.9 100.9 83.6 67.6 270.5 338.1 85.2 113.0 90.9 289.1 IFO margin 15.1% 18.3% 21.3% 20.3% 15.1% 18.9% 24.5% 22.7% 21.4% 15.7% 22.8% 21.0% 22.5% 25.9% 22.7% 23.7% Normalized IFO margin* 16.4% 18.4% 21.4% 20.4% 16.0% 19.2% 24.5% 24.7% 21.4% 18.2% 23.5% 22.2% 22.1% 26.0% 22.0% 23.5% * see glossary 27
Stationery In million euros FY 09 Q1 10 Q2 10 Q3 10 Q4 10 FY 10 Q1 11 Q2 11 Q3 11 Q4 11 9M11 FY 11 Q1 12 Q2 12 Q3 12 9M 12 Net Sales 509.6 112.6 173.4 166.8 128.0 580.7 127.7 170.2 160.8 129.7 458.8 588.5 138.1 187.5 161.2 486.8 YoY actual changes +12.5% +9.2% +24.2% +9.9% +14.0% +13.4% -1.8% -3.6% +1.4% +1.3% +1.3% +8.1% +10.2% +0.2% +6.1% YoY changes at constant currencies* 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% +4.2% +4.1% +7.7% +6.5% -4.7% +2.9% -2.7% +10.7% +1.9% +14.1% +1.1% +6.7% +9.4% +3.4% +1.5% +4.0% +4.2% +4.1% +7.7% +6.5% -4.7% +2.9% IFO 43.3 7.7 28.8 27.6 5.2 69.3 22.1 30.7 21.3 9.3 74.2 83.5 23.2 42.5 22.3 88.1 Normalized IFO* 48.9 8.3 29.1 27.7 5.1 70.3 22.1 30.7 21.3 9.3 74.2 83.5 22.6 42.9 21.6 87.1 IFO margin 8.5% 6.9% 16.6% 16.5% 4.0% 11.9% 17.3% 18.0% 13.3% 7.2% 16.2% 14.2% 16.8% 22.7% 13.9% 18.1% Normalized IFO margin* 9.6% 7.4% 16.8% 16.6% 4.0% 12.1% 17.3% 18.0% 13.3% 7.2% 16.2% 14.2% 16.3% 22.9% 13.4% 17.9% * see glossary 28
Lighters In million euros FY 09 Q1 10 Q2 10 Q3 10 Q4 10 FY 10 Q1 11 Q2 11 Q3 11 Q4 11 9M11 FY 11 Q1 12 Q2 12 Q3 12 9M 12 Net Sales 398.9 107.0 119.3 123.5 131.1 480.8 122.9 125.1 124.0 138.9 372.0 510.8 136.7 135.0 135.5 407.2 YoY actual changes YoY changes at constant currencies* YoY changes on a comparative basis* +5.9% +12.8% +22.3% +26.3% +20.6% +20.5% +14.9% +4.9% +0.4% +6.0% +6.4% +6.2% +11.2% +7.9% +9.3% +9.5% +5.3% +10.4% +11.0% +13.5% +11.4% +11.6% +10.3% +12.0% +5.7% +6.7% +9.3% +8.6% +9.3% +2.5% +3.2% +5.0% +5.3% +10.4% +11.0% +13.5% +11.4% +11.6% +10.3% +12.0% +5.7% +6.7% +9.3% +8.6% +9.3% +2.5% +3.2% +5.0% IFO 127.9 40.9 45.4 45.3 42.0 173.6 50.2 52.1 48.1 49.5 150.4 199.8 51.0 54.3 53.4 158.7 Normalized IFO* 135.7 40.7 45.4 45.4 42.6 174.0 50.2 52.1 48.1 49.6 150.4 199.9 51.1 54.7 51.5 157.2 IFO margin 32.1% 38.2% 38.1% 36.7% 32.0% 36.1% 40.8% 41.7% 38.8% 35.6% 40.4% 39.1% 37.3% 40.2% 39.4% 39.0% Normalized IFO margin* 34.0% 38.0% 38.1% 36.7% 32.5% 36.2% 40.8% 41.7% 38.8% 35.7% 40.4% 39.1% 37.3% 40.5% 38.0% 38.6% * see glossary 29
Shavers In million euros FY09 Q1 10 Q2 10 Q3 10 Q4 10 FY 10 Q1 11 Q2 11 Q3 11 Q4 11 9M11 FY 11 Q1 12 Q2 12 Q3 12 9M 12 Net Sales 268.8 66.4 79.2 84.3 77.8 307.8 76.7 85.2 84.4 81.8 246.4 328.2 92.6 93.1 102.5 288.1 YoY actual changes YoY changes at constant currencies* YoY changes on a comparative basis* +1.7% +12.8% +11.6% +19.0% +14.3% +14.5% +15.6% +7.6% +0.1% +5.1% +7.2% +6.6% +20.6% +9.2% +21.4% +16.9% +2.4% +10.9% +3.3% +9.1% +7.7% +7.6% +11.9% +13.5% +5.1% +6.5% +10.0% +9.1% +18.6% +4.9% +14.4% +12.4% +2.4% +10.9% +3.3% +9.1% +7.7% +7.6% +11.9% +13.5% +5.1% +6.5% +10.0% +9.1% +18.6% +4.9% +14.4% +12.4% IFO 30.3 10.5 12.3 11.2 7.9 41.9 15.5 16.7 16.7 10.9 49.0 59.8 15.1 17.0 23.4 55.5 Normalized IFO* 33.5 10.4 12.4 11.3 9.6 43.6 15.5 16.7 16.7 10.9 49.0 59.8 15.1 17.1 22.7 54.9 IFO margin 11.3% 15.8% 15.5% 13.3% 10.2% 13.6% 20.3% 19.6% 19.8% 13.3% 19.9% 18.2% 16.3% 18.3% 22.9% 19.3% Normalized IFO margin* 12.5% 15.7% 15.6% 13.4% 12.3% 14.2% 20.3% 19.6% 19.8% 13.3% 19.9% 18.2% 16.3% 18.4% 22.1% 19.1% * see glossary 30
Other Consumer Products In million euros FY 09 Q1 10 Q2 10 Q3 10 Q4 10 FY 10 Q1 11 Q2 11 Q3 11 Q4 11 9M11 FY 11 Q1 12 Q2 12 Q3 12 9M 12 Net Sales 97.0 22.6 26.3 25.3 25.5 99.7 23.7 27.2 22.4 21.2 73.3 94.5 17.5 18.1 14.8 50.5 YoY actual changes +7.8% +3.3% +8.2% -6.4% +2.7% +4.9% +3.5% -11.6% -16.6% -1.2% -5.1% -25.9% -33.4% -33.9% -31.1% YoY changes at constant currencies* YoY changes on a comparative basis* +5.4% 0.0% +5.2% -8.3% +0.1% +3.3% +4.3% -10.8% -16.2% -1.1% -5.0% -26.1% -35.1% -35.5% -32.3% +5.4% 0.0% +5.2% -8.3% +0.1% +3.3% +4.3% -2.5% -7.8% +1.8% -0.5% +5.9% +17.3% +19.5% +13.6% IFO * -9.4-2.6-1.7-2.8-0.5-7.6-1.9-7.1-2.5-11.3-11.5-22.8-2.6-1.7-5.3-9.8 Normalized IFO* -8.5-2.7-1.6-2.8 0.6-6.4-1.9 1.4-2.5-2.1-3.0-5.2-3.5-1.7-4.9-10.1 * see glossary 31
Advertising & Promotional Products (BIC APP) In million euros FY 09 Q1 10 Q2 10 Q3 10 Q4 10 FY 10 Q1 11 Q2 11 Q3 11 Q4 11 9M11 FY 11 Q1 12 Q2 12 Q3 12 9M 12 Net Sales 288.4 69.7 89.1 92.7 111.0 362.6 58.9 68.4 76.6 98.1 203.9 302.0 60.1 67.1 74.8 202.0 YoY actual changes +107.0% +71.8% +4.6% -2.8% +25.7% -15.5% -23.3% -17.4% -11.6% -18.9% -16.7% +2.1% -1.9% -2.4% -0.9% YoY changes at constant currencies * +114.1% +62.8% -4.4% -8.7% +19.8% -16.6% -16.5% -10.9% -11.9% -14.5% -13.7% -0.7% -9.8% -11.3% -7.7% YoY changes on a comparative basis* -3.6% -4.1% -0.4% -5.1% -3.3% -8.8% -11.3% -10.0% -10.8% -10.1% -10.4% -0.7% -9.8% -11.3% -7.7% IFO 23.9-8.6 10.2 8.8 17.1 27.4-3.9 0.4 6.1 16.7 2.6 19.3-4.2 6.9 6.6 9.4 Normalized IFO* 30.1-2.9 3.4 10.6 22.4 33.4-2.9 1.2 7.4 18.5 5.8 24.3-3.9 7.0 6.6 9.7 IFO margin 8.3% -12.3% 11.4% 9.5% 15.4% 7.6% -6.7% 0.6% 8.0% 17.0% 1.3% 6.4% -7.0% 10.3% 8.9% 4.6% Normalized IFO margin* 10.4% -4.2% 3.8% 11.4% 20.2% 9.2% -4.9% 1.8% 9.7% 18.9% 2.8% 8.1% -6.6% 10.5% 8.9% 4.8% * see glossary 32
9M 2012 Net Sales breakdown by category Advertising & Promotional Products Other Consumer Products 4% 14% 34% Stationery 20% Shavers 28% Lighters 33
9M 2012 Net Sales breakdown by geography Developing Markets 31% 26% Europe 43% North America 34
Miscellaneous Capital evolution: As of September 30, 2012, the total number of issued shares of SOCIÉTÉ BIC is 48,245,532 shares, representing: 67,926,097 voting rights, 67,089,375 voting rights excluding shares without voting rights. 35
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 and the gain on the disposal of REVA peg business.. 36
2012-2013 Agenda FY 2012 results February 13, 2013 Meeting Company headquarters 1 st Quarter 2013 results April 24, 2013 Conference Call 2 nd Quarter & 1 st Half 2013 results August 1, 2013 Conference Call 3 rd Quarter 2013 results October 23, 2013 Conference Call 37
Disclaimer 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 27 March 2012. 38