Q3-9M 2013 results - Bic · 9M 2013 Results Presentation Group 9 Months 2013 Key figures 4 In euros...

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Q3-9M 2013 results23 October 2013

9M 2013 Results Presentation

Group and category highlights

2

Mario Guevara


20.8%18.8%

Group 9 Months 2013 key figures

* See glossary

Developed markets +4.2%

Developing markets +3.8%

Consumer business(87% of total sales) +4.1%

Advertising & Promotional Products

(13% of total sales)‐6.2%

Consumer business 21.5%

Advertising & Promotional Products

1.3%

9M139M12

Net Sales: 1,407.9 million euros

Normalized IFO Margin

Normalized IFO margin

Normalized* Income from Operations: 265.8 million euros

3

IFO Margin

‐1.9%

+2.4% +2.6%

As reported At constantcurrencies*

On a comparativebasis*

20.5% 18.9%


Group 9 Months 2013 Key figures

4

In euros In million euros

EPS: 11.0% decrease Net Cash Position (after Cello investment)

266.8

334.5

217.2

Sept. 2012 December 2012 Sept. 2013

4.45

3.96

9M 2012 9M 2013


+0.0%

+1.5%

‐2.1%

+1.5%

+4.1%

+7.6%

+1.1%

+5.2%

+3.5%

+1.0%

+3.9%+4.9%

+2.6%+3.7%

+1.2%

+3.8%

9 Months 2013 net sales evolution by geographies

5

Change on a comparative basis

Q1 13

See appendix page 24 for main currency impact

Q3 13 Q1 13Q2 13 Q3 13Q2 13Q3 13Q2 13Q2 13 Q1 13 Q1 13Q3 139M 13 9M 13 9M 13 9M 13


BIC in 9 Months 2013 Consumer business

6

1,223.4 million euros net sales

Change on a comparative basis Breakdown by geographies

+3.8%

+3.8%

+4.8%

Developing Countries (9M)

North America (9M)

Europe (9M)

Europe29%

North America38%

Developing Countries

33%

+1.8%

+5.7%+4.5%

+4.1%

Q1 2013 Q2 2013 Q3 2013 9M 2013


Stationery

7

In million euros Q1 2013 Q2 2013 Q3 2013 9M 2013

IFO 13.1 33.3 19.6 66.0NormalizedIFO 13.1 33.2 19.6 65.8

Change in net sales on a comparative basis Normalized IFO margin

In millioneuros Q1 2013 Q2 2013 Q3 2013 9M 2013

Net Sales 129.7 188.2 150.5 468.4

2012

2013

Developed Markets – 9M• Mid-single digit growth in Europe

• Year-on-year growth in Retail Mass Market.• Positive 2013 back-to-school sell-through (consumer purchase).• Market share gains in most European markets, led by gains in France and Spain.

• Low-single digit decrease in North America• Low single digit increase in Q3. • Later start of the back-to-school season with August and September growth (total market slightly positive). • At the end of August, BIC was maintaining market share thanks to a good back-to-school sell-through and gains made with key retailers.

Developing markets – 9M• Low-single digit decrease

• Mid-single digit sales decline in Latin America• Economic slowdown in Mexico and Brazil (customer inventory reduction and reduced consumer purchases). • Strong performance in Argentina – BIC market leader positioning.

• Strong sales in the Middle-East-Africa and Asia as a result to our commitment to accelerate development of these regions.

9M 2013 Stationery normalized IFO margin 14.1% compared to 17.6% in 9M 2012. Excluding the positive impact of the Special Premium for employees in 2012 (+0.5 pts), the decrease is due to unfavorable fixed cost absorption and the impact of currency fluctuations on purchases, mainly in Latin America. Q3 2013 Stationery normalized IFO margin was 13.0% compared to 13.1% in Q3 2012, primarily impacted by an increase in brand support.

+7.7%

‐2.3%

+6.5%

+2.3%

‐4.7%

+0.3%+2.9%

+0.3%16.0%

10.1%

22.6%

17.6%

13.1%13.0%

17.6%14.1%


Lighters

8


IFO 46.3 54.1 54.1 154.5

Normalized IFO 46.4 53.9 54.1 154.5


Developed markets – 9M• Low-single digit growth in Europe

• Good performance of Eastern Europe thanks to distribution gains (Russia, Romania and Turkey).• High-single digit growth in North America

• At the end of August 2013, BIC® products outperformed the pocket lighter market.• Success of our category leading safety and quality positioning, our added-value sleeve designs and of the 40th anniversary of BIC pocket lighter “Flicktacular”

campaign.Developing markets – 9M• High-single digit growth

• Solid performance in Asia (improved in-store visibility).• Mid-single digit growth in Latin America (distribution gains in traditional shops and convenience stores).

9M 2013 Lighters normalized IFO margin 37.4% compared to 38.3% in 9M 2012. Excluding the positive impact of the Special Premium for Employee in 2012 (+0.4 pts), the benefit of increasing net sales was offset by unfavorable fixed cost absorption and an increase in raw materials (compensated by price increases). Q3 2013 Lighters normalized IFO margin was 39.7% compared to 37.7% in Q3 2012 driven by net sales growth in North America and developing markets..

2012

2013

37.1%33.8%

40.2%38.6% 37.7%

39.7% 38.3%37.4%+9.3%

+3.6%+2.5%

+6.9%

+3.2%

+9.4%

+5.0%

+6.6%


Net Sales 137.4 139.6 136.1 413.1


Shaver markets evolution

9

RefillableTotal

One Piece

% change vs YAG – value

USA – End of August 2013

Source: USA: IRI FDMX – August 2013Europe: : AC Nielsen – June 2013 (Austria, Belgium, France, Germany, Greece, Italy, Poland, Portugal, Romania, Russia, Spain, Sweden, Ukraine)

5.3%4.4%

3.3%

‐2.9%

4.1%

‐0.2%

2012 YTD August 2013

EUROPE – End of June 2013

1.7%

0.7%

2.2%

0.0%

2.0%

0.2%

2012 YTD june 2013


Shavers


Net Sales 91.4 98.7 98.6 288.6

10


IFO 13.6 16.0 20.8 50.4

NormalizedIFO 13.6 15.8 20.8 50.2

Developed markets – 9M• Mid-single digit growth in Europe

• Success of our triple blades products such as the BIC® Flex 3 and BIC® Miss Soleil®. • Low-single digit growth in North America

• Despite a continuous aggressive and competitive environment, we maintained market shares in both men’s and women’s segments thanks to our best value/quality positioning across our core and added value lines including BIC® Soleil®, BIC® Flex 3, BIC® Flex 4, and Hybrid Advance 3®.

Developing markets – 9M• High-single digit growth

• Good performance in the Middle-East and Africa.• High-single digit growth in Latin America thanks to our triple blade one-piece products (BIC® 3 Action).

9M 2013 Shaver normalized IFO margin 17.4% compared to 18.8% in 9M 2012. Excluding the positive impact of the Special Premium for Employees in 2012 (+0.7 pts), the decrease is notably due to unfavorable fixed cost absorption and the impact of currency fluctuations on purchases on Gross Profit.Q3 2013 Shaver normalized IFO margin was 21.1% compared to 21.9% in Q3 2012, impacted by an increase in brand support which offset favorable fixed cost absorption in the quarter.


2012

2013

+18.6%

+2.1%+4.9%

+9.5%

+14.4%

+3.9%

+12.4%

+5.1%

16.1%14.9%18.2%

16.0%

21.9% 21.1%18.8%

17.4%

9M 2013 Result Presentation

Other Consumer Products

In million euros

Q1 2013 Q2 2013 Q3 2013 9M 2013

Net Sales 17.2 20.3 15.9 53.3

11


Normalized IFO -3.6 -0.9 -2.6 -7.1

IFO -3.6 -0.9 -1.8 -6.3

Continued sustained growth for BIC Sport (+17.1% at constant currencies in 9M 2013)

-7.6 million euros R&D investments related to the portable fuel cell device project (compared to -9.0 million euros in 9M 2012)


2012

2013

+5.9%

+22.6%+17.3%

+13.0%+19.5%

+10.8%+13.6%

+15.2%


BIC APP

In million euros

Q1 2013 Q2 2013 Q3 2013 9M 2013

Net Sales 53.0 62.1 69.4 184.5

12

In million euros

Q1 2013 Q2 2013 Q3 2013 9M 2013

IFO -4.2 0.6 3.8 0.3NormalizedIFO -2.9 1.3 4.0 2.4

Europe – 9M• “Hard Goods” segment under pressure notably in Southern countries.• Improvement in stationery products. • Good performance in France.

U.S. – 9M• Weak BIC net sales. • Q3 showed some recovery as we are back to providing best-in-class industry service level. • New products (especially Brite-Pix imprinted technology products) well received by customers, performing in line with our expectations.

9M 2013 BIC APP normalized IFO margin 1.3% compared to 4.3% in 9M 2012. Excluding the positive impact of the Special Premium for Employees in 2102 (+1.5 pts), the decrease in Normalized IFO margin is due to the decrease in net sales. Q3 2013 BIC APP normalized IFO margin was 5.8% compared to 8.4% in Q3 2012.


2012

2013

‐7.1%‐5.4%

10.0%

2.0%

8.4%5.8%

4.3%1.3%

‐0.7%

‐11.2% ‐9.8%

‐6.0%

‐11.3%

‐2.3%

‐7.7%‐6.2%

9M 2013 Results Presentation 13

9 Months 2013 consolidated financial figures

Jim DiPietro


9 Months 2013: From Net Sales to IFO

BIC GroupIn million euros 9M 2012 9M 2013 Change

Change at constant

currencies*

Change on a comparative

basis*

Net Sales 1,434.6 1,407.9 -1.9% +2.4% +2.6%

Gross Profit 741.5 690.7 -6.9%

Normalized* Income from Operations 294.7 265.8 -9.8%

Income from Operations 297.7 264.8 -11.1%

14

* See glossary


9 Months 2013 non-recurring items

15

In million euros 9M 2012 As % of sales 9M 2013 As %

of sales

Normalized* IFO 294.7 20.5% 265.8 18.9%

Restructuring costs -2.4 -2.4

Gains on disposals and real estate gain in France & in the U.S +5.4 +1.4

IFO as Reported 297.7 20.8% 264.8 18.8%

*: see glossary


9 Months 2013 Normalized* Income From Operations margin

20.5%

*: see glossary

16

‐2.6

+0.2

0.0

+0.8

9M 2012 Normalized IFOmargin

Gross Margin Brand support OPEX and otherexpenses

Foreign Currencychanges

9M 2013 Normalized IFOmargin

Of which positive impact of H1 12 Special Premium to Employees in GP (+0.4 points)

Of which -0.2 points of OPEX and positive impact of H1 12 Special Premium to Employees in OPEX (+0.2 points)

18.9%


9 Months 2013 From IFO to Group Net Income

In million euros Q3 2012 Q3 2013 9M 2012 9M 2013

Normalized* IFO 96.1 95.8 294.7 265.8

Non recurring items +2.8 +0.6 +3.0 -1.0

IFO 99.0 96.4 297.7 264.8

Interest income +1.9 +2.1 +7.0 +5.7

Finance costs -0.4 +0.4 +0.1 -1.7

Income before Tax 100.4 98.9 304.8 268.8

Income tax -32.1 -31.2 -97.4 -84.7

Tax rate 32.0% 31.5% 32.0% 31.5%

Income from Associates +1.1 +0.8 +3.0 +2.5

Group Net Income 69.5 68.5 210.4 186.6

Number of shares outstanding net of treasury shares 47,305,808 47,125,653 47,305,808 47,125,653

EPS 1.47 1.45 4.45 3.96

Normalized EPS 1.43 1.44 4.40 3.97

17


BIC GroupIn million euros

Dec. 2011 Sept. 2012 Dec. 2012 Sept. 2013

WorkingCapital 558.4 626.8 575.7 578.6

Of whichinventories 411.3 428.0 404.9 394.4

Of which trade and other receivables

416.9 468.3 446.1 455.4

Of which trade and other payables

110.8 102.5 112.1 109.2

Balance sheet*

Inventories in days

Receivables in days

18

162 169 158 150

December2011

September2012

December2012

September2013

70 72 69 71

December 2011 September2012

December 2012 September2013

*: end of period rates


278.4

‐ 43.2

‐ 79.0

2.0

‐ 120.8

‐ 68.4

‐ 79.6

‐6.7

December 2012Net CashPosition

Cash fromoperations

Impact ofworking capital

& others

CAPEX Real estategains

Cello 2012 DividendPayment

Share buybacknet of exerciseof stock optionsand liquiditycontract (1)

Others September2013 Net Cash

Position

September 2013 Net Cash Position

19

334.5

217.2

In million euros

(1): Total 9M 2013 share buy-back: 956,292 shares – 80.2 million euros

T o t a l O p e r a t i o n s S h a r e h o l d e r sR e m u n e r a t i o n

C a s h F r o mO p e r a t i n g a c t i v i t i e s

Acquisit ion


Agenda

20

Full year 2013outlook

Mario Guevara


Group 9 Months 2013 summary

Continued growth of Consumer business• Positive sell-out in Stationery both in Europe and in North America• Mid-single growth in developing markets with a strong performance of

the Middle-East and Africa and Asia. Improved trends for BIC APP in Q3 thanks to better service level in the U.S. and improvement of stationery products in Europe.

21

Net sales

Unfavorable fixed cost absorption and negative impact of currency fluctuations on purchases. • In Q3, stable production costs (quarter over quarter) and negative currency

impact.

Normalized IFO margin

Net Cash Position

Solid Net Cash position after investment in Cello• Good level of net cash from operating activities• Improved working capital


2013 outlook - unchanged

22

For the full year, we expect net sales on a comparative basis to grow in line with our mid-term objectives of +2% to +4%. Normalized IFO margin should be in the higher end of our 15% to 20% mid-term objectives range.

Consumer business

BIC APP full year 2013 net sales could decline low to mid-single digit. Due to the sales decline, we will realize less favorable volume absorption and therefore Normalized IFO margin could decline to a mid to low-single digit level.

Advertising and Promotional

Products


Appendix


9M 2013 net sales – main exchange rate evolution vs. euro

24

% of salesAverage rate

Q312Average rate

Q313 % of changeUS Dollar 46% 1.25 1.33 -6.4%Brazilian Real 10% 2.54 3.04 -19.7%Mexican Peso 5% 16.47 17.12 -4.4%Argentina Peso 2% 5.78 7.41 -28.2%Canadian dollar 3% 1.24 1.38 -11.3%Australian dollar 2% 1.20 1.45 -20.8%South African Zar 2% 10.35 13.25 -28.0%Non Euro European countries 6%

Sw eden 8.43 8.68 -3.0%Russia 39.88 43.81 -9.9%Poland 4.13 4.25 -2.9%

British Pound 0.79 0.89 -12.7%

% of salesAverage rate

9M12Average rate

9M13 % of changeUS Dollar 42% 1.28 1.32 -3.1%Brazilian Real 10% 2.46 2.79 -13.4%Mexican Peso 5% 16.95 16.71 1.4%Argentina Peso 2% 5.73 6.96 -21.5%Canadian dollar 3% 1.28 1.35 -5.5%Australian dollar 2% 1.24 1.35 -8.9%South African Zar 2% 10.31 12.50 -21.2%Non Euro European countries 6%

Sw eden 8.73 8.58 1.7%Russia 39.76 41.77 -5.1%Poland 4.21 4.20 0.2%

British Pound 0.81 0.86 -6.2%


Group Quarterly figures

* see glossary

In million euros Q1 11 Q2 11 Q3 11 Q4 11 FY 11 Q1 12 Q2 12 Q3 12 9M 12 Q4 12 FY 12 Q1 13 Q2 13 Q3 13 9M 13

Net Sales 409.9 476.2 468.2 469.8 1,824.1 445.0 500.8 488.8 1,434.6 464.1 1,898.7 428.6 508.9 470.4 1,407.9

YoY actualchanges 8.4% -2.3% -5.0% -0.7% -0.4% 8.6% 5.2% 4.4% +5.9% -1.2% 4.1% -3.7% +1.6% -3.8% -1.9%

YoY changes atconstant currencies* 4.9% 3.5% 0.2% 0.3% 2.1% 7.1% 0.4% -1.7% +1.7% -2.2% 0.7% -0.7% +4.1% +3.5% +2.4%

YoY changes on a comparative basis* 6.6% 4.7% 0.8% 1.1% 3.1% 9.0% 3.1% 0.5% +4.0% -0.4% 2.8% +0.0% +4.1% +3.5% +2.6%

IFO 81.0 91.9 88.8 74.0 335.8 81.1 117.7 99.0 297.7 67.2 365.0 65.2 103.2 96.4 264.8NormalizedIFO* 82.1 101.2 90.1 85.2 358.5 79.9 118.6 96.1 294.7 73.6 368.3 66.7 103.3 95.8 265.8

IFO margin 19.8% 19.3% 19.0% 15.8% 18.4% 18.2% 23.5% 20.3% 20.8% 14.5% 19.2% 15.2% 20.3% 20.5% 18.8%Normalized IFO margin* 20.0% 21.3% 19.2% 18.1% 19.7% 18.0% 23.7% 19.7% 20.5% 15.9% 19.4% 15.6% 20.3% 20.4% 18.9%

Income beforetax 78.9 95.0 96.3 78.9 349.0 82.7 121.6 101.6 304.8 71.4 379.2 65.0 104.9 98.9 268.8

Net Income 53.3 64.0 64.8 53.3 235.3 56.7 84.2 69.5 210.4 49.2 259.6 45.2 72.9 68.5 186.6

EPS 1.11 1.33 1.36 1.12 4.95 1.20 1.78 1.47 4.44 1.04 5.48 0.95 1.54 1.45 3.96

25


Group Consumer

* see glossary

In millionEuros² Q1 11 Q2 11 Q3 11 Q4 11 FY 11 Q1 12 Q2 12 Q3 12 9M 12 Q4 12 FY 12 Q1 13 Q2 13 Q3 13 9M 13

Net Sales 351.0 407.7 391.6 371.7 1,522.1 384.9 433.7 414.0 1,232.6 375.0 1,607.6 375.7 446.8 401.0 1,223.4

YoY actual changes +13.8% +2.4% -2.1% +2.6% +3.6% +9.6% +6.4% +5.7% +7.1% +0.9% +5.6% -2.4% +3.0% -3.1% -0.7%

YoY changes at constant currencies*

+9.8% +8.0% +2.8% +4.1% +6.0% +8.4% +2.1% +0.2% +3.4% +0.5% +2.7% +0.9% +5.7% +4.5% +3.8%

YoY changes on a comparative basis*

+9.8% +8.0% +3.3% +4.8% +6.3% +10.6% +5.3% +2.9% +6.1% +2.8% +5.3% +0.9% +5.7% +4.5% +4.1%

IFO 85.1 91.7 82.9 57.5 317.2 85.6 111.1 92.7 289.3 59.3 348.6 69.4 102.6 92.5 264.5

Normalized IFO* 85.1 100.2 82.9 66.8 335.0 84.2 111.9 89.8 285.9 61.6 347.6 69.6 102.0 91.8 263.4

IFO margin 24.3% 22.5% 21.2% 15.5% 20.8% 22.2% 25.6% 22.4% 23.5% 15.8% 21.7% 18.5% 23.0% 23.1% 21.6%

Normalized IFO margin* 24.3% 24.6% 21.2% 18.0% 22.0% 21.9% 25.8% 21.7% 23.2% 16.4% 21.6% 18.5% 22.8% 22.9% 21.5%

26


Stationery

27

* see glossary


Net Sales 127.7 170.2 160.8 129.7 588.5 138.1 187.5 161.2 486.8 131.11 617.9 129.7 188.2 150.5 468.4

YoY actual changes +13.4% -1.8% -3.6% +1.4% +1.3% +8.1% +10.2% +0.2% +6.1% +1.0% +5.0% -6.1% +0.4% -6.6% -3.8%


+9.4% +3.4% +1.5% +4.0% +4.1% +7.7% +6.5% -4.7% +2.9% +1.7% +2.6% -2.3% +2.3% +0.3% +0.3%


+9.4% +3.4% +1.5% +4.0% +4.1% +7.7% +6.5% -4.7% +2.9% +1.7% +2.6% -2.3% +2.3% +0.3% +0.3%

IFO 21.8 30.4 21.0 9.0 82.1 22.8 42.1 21.9 86.7 6.1 92.8 13.1 33.3 19.6 66.0

Normalized IFO* 21.8 30.4 21.0 9.0 82.1 22.1 42.5 21.1 85.7 7.2 92.9 13.1 33.2 19.6 65.8

IFO margin 17.1% 17.8% 13.0% 6.9% 14.0% 16.5% 22.4% 13.6% 17.8% 4.7% 15.0% 10.1% 17.7% 13.0% 14.1%



Lighters

28

* see glossary


Net Sales 122.9 125.1 124.0 138.9 510.8 136.7 135.0 135.5 407.2 143.8 551.0 137.4 139.6 136.1 413.1

YoY actual changes +14.9% +4.9% +0.4% +6.0% +6.2% +11.2% +7.9% +9.3% +9.5% 3.5% +7.9% +0.5% +3.4% +0.4% +1.4%


+10.3% +12.0% +5.7% +6.7% +8.6% +9.3% +2.5% +3.2% +5.0% +2.4% +4.3% +3.6% +6.9% +9.4% +6.6%


+10.3% +12.0% +5.7% +6.7% +8.6% +9.3% +2.5% +3.2% +5.0% +2.4% +4.3% +3.6% +6.9% +9.4% +6.6%

IFO 49.9 51.9 47.8 49.2 198.8 50.6 53.9 53.0 157.6 49.1 206.7 46.3 54.1 54.1 154.5

Normalized IFO* 49.9 51.9 47.8 49.3 198.9 50.7 54.3 51.1 156.0 50.0 206.0 46.4 53.9 54.1 154.5

IFO margin 40.6% 41.5% 38.6% 35.4% 38.9% 37.0% 40.0% 39.1% 38.7% 34.2% 37.5% 33.7% 38.8% 39.7% 37.4%



Shavers

29

* see glossary


Net Sales 76.7 85.2 84.4 81.8 328.2 92.6 93.1 102.5 288.1 85.4 373.5 91.4 98.7 98.6 288.6

YoY actual changes +15.6% +7.6% +0.1% +5.1% +6.6% +20.6% +9.2% +21.4% +16.9% +4.4% +13.8% -1.3% +6.0% -3.8% +0.2%


+11.9% +13.5% +5.1% +6.5% +9.1% +18.6% +4.9% +14.4% +12.4% +3.1% +10.1% +2.1% +9.5% +3.9% +5.1%

YoY changes on a comparative basis* +11.9% +13.5% +5.1% +6.5% +9.1% +18.6% +4.9% +14.4% +12.4% +3.1% +10.1% +2.1% +9.5% +3.9% +5.1%

IFO 15.4 16.6 16.5 10.7 59.1 14.9 16.8 23.2 54.8 9.3 64.1 13.6 16.0 20.8 50.4

Normalized IFO* 15.4 16.6 16.5 10.7 59.2 14.9 16.9 22.5 54.2 9.6 63.9 13.6 15.8 20.8 50.2

IFO margin 20.0% 19.4% 19.6% 13.1% 18.0% 16.1% 18.0% 22.6% 19.0% 10.8% 17.2% 14.9% 16.2% 21.1% 17.4%


9M 2013 Result Presentation

Other Consumer Product

30

* see glossary


Net Sales 23.7 27.2 22.4 21.2 94.5 17.5 18.1 14.8 50.5 14.7 65.2 17.2 20.3 15.9 53.3

YoY actual changes +4.9% +3.5% -11.6% -16.6% -5.1% -25.9% -33.4% -33.9% -31.2% -30.5% -31.0% -2.2% +12.0% +7.2% +5.6%


+3.3% +4.3% -10.8% -16.2% -5.0% -26.1% -35.1% -35.5% -32.3% -29.8% -31.8% -1.2% +13.0% +10.8% +7.4%


+3.3% +4.3% -2.5% -7.8% -0.5% +5.9% +17.3% +19.5% +13.6% +16.8% +14.3% +22.6% +13.0% +10.8% +15.2%

IFO* -1.9 -7.1 -2.5 -11.3 -22.8 -2.7 -1.7 -5.4 -9.8 -5.2 -15.0 -3.6 -0.9 -1.8 -6.3

Normalized IFO* -1.9 1.4 -2.5 -2.1 -5.2 -3.5 -1.7 -4.9 -10.1 -5.2 -15.3 -3.6 -0.9 -2.6 -7.1


Advertising & Promotional Products (BIC APP)

31

* see glossary


Net Sales 58.9 68.4 76.6 98.1 302.0 60.1 67.1 74.8 202.0 89.1 291.1 53.0 62.1 69.4 184.5

YoY actual changes -15.5% -23.3% -17.4% -11.6% -16.7% +2.1% -1.9% -2.4% -0.9% -9.2% -3.6% -11.9% -7.5% -7.1% -8.7%

YoYchanges at constant currencies*

-16.6% -16.5% -10.9% -11.9% -13.7% -0.7% -9.8% -11.3% -7.7% -12.2% -9.2% -11.2% -6.0% -2.3% -6.2%


-8.8% -11.3% -10.0% -10.8% -10.4% -0.7% -9.8% -11.3% -7.7% -12.2% -9.2% -11.2% -6.0% -2.3% -6.2%

IFO -4.1 0.2 5.9 16.5 18.5 -4.5 6.6 6.3 8.4 8.0 16.4 -4.2 0.6 3.8 0.3

Normalized IFO* -3.1 1.0 7.2 18.3 23.5 -4.3 6.7 6.3 8.8 12.0 20.7 -2.9 1.3 4.0 2.4

IFO margin -7.0% 0.4% 7.7% 16.8% 6.1% -7.5% 9.9% 8.4% 4.2% 8.9% 5.6% -7.9% 1.0% 5.5% 0.1%

NormalizedIFO margin* -5.2% 1.5% 9.4% 18.7% 7.8% -7.1% 10.0% 8.4% 4.3% 13.4% 7.1% -5.4% 2.0% 5.8% 1.3%


9M 2013 Net Sales breakdownby category

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Stationery

Lighters

Shavers

Other ConsumerProducts

Advertising & Promotional

Products

33%

29%

20%

4%

13%


9M 2013 Net Sales breakdownby geography

33

Europe

North America

Developing Markets

27%

43%

30%


Miscellaneous

Capital evolution:

• Authorized share capital at the end of September 2013: 48,538,002 shares

Total treasury shares at the end September 2013 is 1,738,872

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Glossary

At constant currencies: Constant currency figures are calculated by translatingthe current year figures at prior year monthly average exchange rates. All net salescategory comments are made at constant currencies or comparative basis.

Comparative basis: at constant currencies and constant perimeter. Figures atconstant perimeter exclude the impacts of acquisitions and/or disposals thatoccurred during the current year and/or during the previous year, until theiranniversary date.

Normalized IFO: normalized means excluding restructuring, BIC APP integrationplan expenses, gain on disposal of phone cards activity in France in H1 2012 andreal estate gains.

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.


2014 Agenda (all dates to be confirmed)

36

FY 2013 results February 12, 2014 Meeting, BIC Headquarters

1st Quarter 2014 results April 24, 2014 Conference call

2013 AGM May 14, 2014 Meeting, BIC Headquarters

2nd quarter & 1st Half 2014 results July 31, 2014 Conference call

3rd Quarter 2014 results October 22, 2014 Conference call


Disclaimer

This document contains forward-looking statements. Although BIC believes itsexpectations are based on reasonable assumptions, these statements are subjectto 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 2013.

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