group presentation 20nov12 · group presentation for investors lighters million euros q1 12 q2 12...

Group presentationfor investors

December 2012

[email protected]+33 (0)1 45 19 52 26

Group presentation for investors - 2 -

AgendaQ3-9M 2012 Results 3GROUP OVERVIEW 29History 30

BIC Today 31

Operational performance 32

Markets and categories 33

International footprint 34

Capital Ownership 35

Strategic assets 36

Key Strengths 37

Brand awarness 38

Manufacturing network 39

Capex 40

Cash Generation 41

Use of cash policy 42

Portable Fuel Cell 43

The consumer stationery market 45

2009-2011 Key Figures 48

Strategy 49

"Quality @ a BIC price" 50

BIC positions in major market segments 52

Cello Pens 53

India's writing instrument market overview 54

Stationery

The Pocket Lighter market 56

Overview of safety regulation around the world 60

Long term view of safety regulation impact on lighter sales

61

2005-2011 Key Figures 62

Strategy 63

N°1 branded lighter manufacturer 64

ShaversThe shaver market 66

One-piece market shares 71

3&4 Blades one-piece Market shares 73

2005-2011 key figures 74

Strategy 75

Quality and innovation at a reasonable price 76

10 years of innovation in shavers 77

Shaver category in 2012 78

LightersHistory and definition 80

A large and growing business 81

A structured BUT fragmented industry 83

BIC APP 86

BIC APP Highlights and key figures 87

2009-2011 key figures 88

BIC APP Today 89

Measure… 91

… to eco-design … 92

… our products 93

French Ecolabel NF Environnement 94

An exemple of ecodesign 95

APPENDIX 96

Glossary 112

2013 Agenda 113

Contact 115

Advertising & Promotional Products

Sustainable Development

Group presentation for investors

Q3-9M 2012 RESULTS


Group and category highlights


Group 9 months 2012 key figures

* See glossary

Developed markets +5.9%

Developing markets +6.4%

Consumer business(86% of total sales) +6.1%


(14% of total sales)‐7.7%

Consumer business 23.5%


4.8%

Net Sales: 1,434.6 million euros

+5.9%

+1.7%

+4.0%

As reported At constantcurrencies*

On a comparativebasis*

20.4% 20.8% 21.4%

9M 2011 9M 2012 9M12 exc.Special Premium

23.9%

6.3%

Normalized IFO

Normalized IFOexc. Special Premium

Normalized* Income from Operations: 298.9 million euros


Group 9 months 2012 Key figures

In euros In million euros

321.0 329.5

266.8

Sept. 2011 Dec. 2011 Sept. 2012

3.85

4.50

9M 2011 9M 2012

EPS: +16.9% increase Net Cash Position


9 months 2012 net sales evolution by geographies

+9.0%

+4.3%

+15.3%

+5.8%

+3.1%+0.8%

+2.8%

+5.8%

+0.5%

‐3.5%‐1.8%

+7.8%

+4.0%

+0.4%

+4.5%+6.5%

Change on a comparative basis

Q1 Q3Q2 9M Q1 Q3Q2 9M Q1 Q3Q2 9M Q1 Q3Q2 9M


9 months 2012 net sales - Consumer business

+6.4%

+7.6%

+3.9%

Developing Countries

North America

Europe

Europe27%

North America38%

Developing Countries

35%

1,232.6 million euros

Change on a comparative basis Breakdown by geographies

+10.6%

+5.3%+2.9%

+6.1%

Q1 2012 Q2 2012 Q3 2012 9M 2012


4.3%

2.9%

1.7%

3.4%

Modern Mass Market

Super Stores

Office Suppliers

Total

2012 August YTD

Stationery Consumer – Industry trends

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)

2007 – 2011 stationery markets evolution 2012 trends

2007 2008 2009 2010 2011

-6.5%

Western: +3.0%

USA

Europe

Central & Eastern: +11.0%

2007 2008 2009 2010 2011

Western Europe

4.1%

‐3.0%

0.9%

Modern Mass Market

Office Suppliers +Traditional Stores

Total

July 2011 – June 2012

- 9 -


Stationery

- 10 -

Million euros Q1 12 Q2 12 Q3 12 9M 12

IFO 23.2 42.5 22.3 88.1NormalizedIFO 22.6 42.9 21.6 87.1

+9.4%+7.7%

+3.4%+6.5%

+1.5%

‐4.7%

+4.2%+2.9%

Change in net sales at constant currencies Normalized IFO margin

17.3%

16.3%

18.0%

22.9%

13.3%

13.4%

16.2%

17.9%

18.4%


Net Sales 138.1 187.5 161.2 486.8

Developed marketsLow -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 marketsMid-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.

exc.

Sp

ecia

l Pre

miu

m

2011

2012


Lighters


Net Sales 136.7 135.0 135.5 407.2

- 11 -




Developed marketsHigh-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 marketsLow-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 2011Excluding 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).

40.8%

37.3%

41.7%

40.5%

38.8%

38.0%

40.4%

38.6%

39.0%

+10.3%+9.3%

+12.0%

+2.5%

+5.7%

+3.2%

+9.3%

+5.0%

exc.

Sp

ecia

l Pre

miu

m

2011

2012


Shaver markets evolution

- 12 -

RefillableTotal

One Piece

% change value

USAEurope

Source: USA: IRI FDMX –August 2012 Europe: Nielsen – June 2012

2.8%2.1%2.1%

3.1%

2.2%2.7%

2011 YTD June 2012

6.70%

2.1%2.70%

4.3%4.20%

2.6%

2011 YTD August 2012


20.3% 16.3%

19.6%

18.4%

19.8%

22.1%

19.9%

19.1%

19.7%

Shavers


Net Sales 92.6 93.1 102.5 288.1

- 13 -



Developed marketsLow-single digit growth in Europe

• Continued market share gains in most countries• Double-digit growth in Eastern Europe

Double digit growth in North AmericaDespite 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 marketsDouble-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.

+11.9%

+18.6%

+13.5%

+4.9% +5.1%

+14.4%

+10.0%+12.4%

exc.

Sp

ecia

l Pre

miu

m

Change in net sales at constant currencies Normalized IFO

2011

2012


Other Products Consumer

In million euros

Q1 12 Q2 12 Q3 12 9M 12

Net Sales 17.5 18.1 14.8 50.5

- 14 -

+3.3%+5.9% +4.3%

+17.3%

‐2.5%

+19.5%

+1.8%

+13.6%Million euros Q1 12 Q2 12 Q3 12 9M 12

Normalized IFO -3.5 -1.7 -4.9 -10.1

Non-recurrent items

+0.8 - -0.4 +0.3

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)

Change in net sales on a comparative basis Normalized IFO

2011

2012


BIC APP


Net Sales 60.1 67.1 74.8 202.0

- 15 -

In million euros

Q1 12 Q2 12 Q3 12 9M 12

IFO -4.2 6.9 6.6 9.4NormalizedIFO -3.9 7.0 6.6 9.7

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)

‐8.8%

‐0.7%

‐11.3%‐9.8% ‐10.0%

‐11.3%‐10.1%

‐7.7%‐4.9%

‐6.6%

1.8%

10.5% 9.7%8.9%

2.8%4.8%

6.3%


exc. Special Premium

2011

2012


9 months 2012 consolidated financial figures


9M 2012: From Net Sales to IFO

In million euros 9M 2011 9M 2012 ChangeChange 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


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


9M 2012 Normalized* Income From Operations margin

20.8%20.4% 21.4%

*: see glossary

+3.0

‐0.1 ‐0.4 ‐1.5 ‐0.6

9M 2011Normalized* IFO

margin

Gross Margin Brand support Increase in FuelCell Expenses

OPEX and otherexpenses

Normalized* IFOmargin excludingthe impact of

employees specialpremium

Impact of theemployees special

premium

9M 2012Normalized* IFO

margin


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

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

More favorable revaluationof monetary assets in 9M 2012 compared to 9M 2011

*: see glossary


+270.2

‐76.7

‐86.6

+6.8

‐189.5

+22.4

‐9.3

December 2011Net Cash Position

Cash fromoperations

Impact ofworking capital

CAPEX Divestitures &real estate gains

2011 DividendPayment (1)

Share buybacknet of exercise ofstock options andliquidity contract

(2)

Others September 2012Net Cash Position

September 2012 Net Cash Position

329.5

266.8

In million euros

(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

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


Full year 2012outlook


9M 2012 key points

Consumer business

Advertising and Promotional

Products

• 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.

Enhanced manufacturing productivity Continued investments in brand support, research and development and production capacities

• Very challenging environment in Southern Europe• Temporarily negative impact of the new ERP implementation

• Strong progress of manufacturing efficiency due to the integration plan

Solid 9M Group Results


2012 outlook (1)

For the full year, we anticipate that net sales will grow mid-single 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.

Consumer business

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.

Advertising and Promotional

Products

(1): excluding the impact of the employee special premium


Mid-term objectives


Objectives for the next 3 to 5 years

ValueQualitySafety

Improve operational efficiency

Increase exposure to fast growing

markets

Seize external growth

opportunities

Continue to regularly increase

shareholders remuneration

Grow faster than our markets

Manufacturing productivity

Latin America, Middle-East, Africa,

AsiaPortable Fuel Cell

Bolt-on strategic acquisitions

Sound balance sheet


2009 - 2011: improvement of operational performanceNet sales evolution on a comparative basis and normalized IFO margin

Stationery

* Based on the assumption of consolidation of Norwood PP in 2009 – non audited

Lighters

Shavers APP


Objectives for the next 3 to 5 years

* Excluding currency impact and bolt-on acquisitions

Between15% and 20%

Consumer business


Annual OrganicGrowth*

Normalized IFO margin

Between+2% and +4%

Annual OrganicGrowth*

Normalized IFO margin

Low to mid-single digit growth

Between 8% and 12%

Group overview


History at a glance

1950…Marcel Bich launches the BIC® Cristal, the first high quality ballpoint penat an affordable price

1954…The Group starts its international expansion in Europe (Italy, UK, …),

Latin America (Brazil) and North America (USA)

1969…First step in Advertising & Promotional Writing Instrument (BIC Graphic)

1973: First BIC® lighter

1974: First BIC® one piece shaver

Since the beginning, on-going product development(correction, luxury fountain pen, school fountain pen, imprinted promotional bags, …) and geographical expansion (Latin America, Eastern and Central Europe, …)


BIC today

2006 – 2011EPS CAGR: +7.8%

€1,824.1 m

€362.4

€5.00

2011

N

ET S

ALE

S

2011

Nor

mal

ized

In

com

e Fr

om

Ope

ratio

ns20

11 E

PS

2006 – 2011growth average on a comparative basis: +3.0%

2006 – 2011 Average Normalized IFO margin: 17.1%

€115.7m

2011

Fre

e C

ash

Flow

2011 FCF / net sales: 6.3%

9,198 employees

23 factories on 4 continents

Every day,

256

105

160

million BIC® stationery products

million BIC® lighters

million BIC® shavers

million BIC® Advertising andPromotional Products are bought incountries


16.2%17.4% 17.9% 17.4%

15.1% 15.3%17.2%

19.9%

7.2% 7.0%

5.0% 4.7%

2.4%

10.1% 10.1%

2.1%

6.0% 6.5%

4.6%3.3%

1.6%

-0.6%

5.9%

3.1%

2004 2005 2006 2007 2008 2009 2010 2011

Operational Performance

Normalized IFO Margin

Change in Net Sales at Constant Currencies

Change in Net Sales On a comparative basis


Markets and categories

17%Advertising & PromotionalProducts

32%Stationery

28%Lighters

18%One-piece

shavers

5%Other consumer

ProductsAdvertising & Promotional

Products

ConsumerGoods

20%

N 2Worldwide

N 2Worldwide

N 1Worldwide

N 2In Europe

& USA

FY 2011 sales breakdown by markets FY 2011 sales breakdown by categories


International footprint

1950: France

1954: Italy

1956: Brazil

1957: “Sterling” zone (UK, Australia…)

1958: USA, Africa, Middle East

1959: Scandinavian countries

1965: Japan, Mexico

1995: Eastern and Central Europe

1997: Expansion in Asia

2009: India (partnership with Cello)

40%North America

28%Europe

32%Developing markets

FY 2011 sales breakdown by geography History


Capital ownership (31-DEC-2011)

.

As of December 31, 2011, the total number of issued shares of SOCIÉTÉ BIC is 47,890,420 shares representing 69,426,087 voting rights.

43.3%Bich Family

(57.5% voting rights)


Strategic assets

A large and diversified product portfolio aimed at answering consumers’ needs

Innovation: 22% of net sales through new products in 2011

Recognised brands

Historical international footprint- Present in more than 160 countries- 32% of 2011 net sales in developing countries

An international, complete and solid distribution network

On-going and sustained productivity improvement policy

A solid balance sheet and a clear use of cash strategy

Quality and Value product positioning


Products Brand…S BalanceSheet

Simple

Reliable

Inventive

At the right Price

Worldwide leadership

Stationerycc.10%

market share

Lighterscc. 45% market

share**

Shavers20% market share*

of one-piece in USA and Europe

N°2

N°1

N°2

115.7€Free Cash

Flow

329.5 M€Net Cash

Position at the end of

2011

Key strengths

Advertising & Promotional

Products

N°2

* One-piece shavers in major markets (US, Europe, Latin America)** Outside Asia

Group presentation for investors - 38 - 38

100

55

97 98 97 100 98 98 91 94 98

France Germany UnitedKingdom

Italy Spain Greece United-Sates

Mexico Brazil SouthAfrica

Australia

BIC brand awarness rate

Strong international brands


Manufacturing network

79% of the BIC® products are produced in BIC owned factories 80.9% in the consumer product business 71.1% in the advertising and promotional product business


CAPEX


Cash Generation

Free Cash Flowbefore acquisitions and disposals

Free Cash Flow after acquisitions and disposals

160.3

98.9

178.6

128.9145.0

308.3

205.0

115.7

157.2

98.9

147.3

115.9

143.5126.2

222.4

108.9

2004 2005 2006 2007 2008 2009 2010 2011

In million euros


44% based on 2011 results

50% mid-termobjective

0.901.15 1.30 1.35 1.35 1.40

1.90 2.20

1.001.00

1.80

2004 2005 2006 2007 2008 2009 2010 2011Dividend per share Special Dividend

Use of cash policy

Focus on Strategic

acquisitions

Dividend

ShareBuy-back

2006PIMACO

Adhesive labelsBrazil

2009Cello Pens

Writing instruments

India

2007Atchison Products

Promotional products

USA

2009APP

Promotional products Europe

Regular dividend per share

Continue to look for strategic acquisitions, although focus will be to succeed in leveraging recent moves

71.6 49.3 39.9 25.71.9

42101.4

1.6

2005 2006 2007 2008 2009 2010 2011 YTD Oct.2012

In million euros

In euros

2009Norwood

Promotional Products

USA

1

2

3

Pay-out ratio

2011Angstrom

Fuel CellCanada


Converts the hydrogen to

electricity

Produces hydrogen on demand*

Purchased separately from the

fuel cell device

Provides electricity

Refillable fuel cell device

Replacablecartridge

Universalpower cord

+ +

*: Hydrogen is produced on request by the chemical reaction of an aquaous solution, thanks to BIC patented technology

Portable Fuel Cell device project


Stationery


The consumer stationery market (1/3)

Total worldwide consumer stationery market = 7.5 billion Euros in 2011

Key geographical markets breakdown (in value) Breakdown by main segment (in value)

All market shares are based on 2011 estimated suppliers net sales figures

13%Rest of the world

16%USA

18%Europe

22%China

15%Japan

9%Latin

America

57%Pens

6%Mechanical pencils

6%Correction

16%Markers

15%Coloring

Of which:25% Ball pens4% Rollers

- 45 -

7%India


Market trends by geographies (in value)


Size in million euros

Market growth

BIC Estimates & Published Research

- 46 -



Total worldwide consumer stationery market = 7.5 billion Euros in 2011

Breakdown by main supplier (in value)

BIC Estimate & Published Research – 2011 – Manufacturers figures –Pens, pencils, markers, coloring, correction

Sakura: 1%

Schwan-Stabilo: 1%

Crayola: 2%

Zebra: 3%

Pentel: 3%

Mitsubishi: 3%

61%Others

6%Pilot

cc. 10%BIC

11%Newell Rubbermaid

- 47 -


2009- 2011 BIC Stationery Consumer key figures

9.6%12.1%

14.2%-2.7%

+6.7%+4.1%

2009 2010 2011

- 48 -

FY 2011 Net Sales

FY 2011 IFO 83.5 M€588.5 M€ YoY Change +20.5%


Stationery Consumer – BIC Strategy

Generate profitable growth through Gaining market share in Developed countries (markets more or less flat)

Accelerating sales growth in Fast growing countries (markets up mid to high single digit)

Further developing our geographical footprint

Focusing on giving “more for your money” to consumers through best quality at the right price

Increasing consumer-relevant innovation

Having a tight control of our production costs

- 49 -


Historical and close

relationship with the trade

Iconicproducts

Strong brands

Worldwide leadership positions

Strong positions in

major market segments Consumer trust

for more than 50 years

Innovation

25 million BIC stationeryproducts bought every day worldwide

More than 3m outlets worldwide

Stationery Consumer: “Quality @ a BIC price” (1/2)

- 50 -

Group presentation for investors 51

0.18 €0.34 €

0.75 €

1.62 €1.79 €

2.15 €

2.77 €

Cristal Cristal For Her M10 Atlantis Atlantis Gel 4 Couleurs 4 Couleurs Grip

Stationery Consumer: “Quality @ a BIC price” (2/2)

Retail prices of ball pens in France (in euros)


Stationery Consumer BIC positions in major market segments*

N° 2 worldwide cc. 10% market share

N°1 in Europe(14% market

share)

N°2 in the U.S.(16% market

share)

N°1 in Latin America

(21% market share)

* BIC Estimates– 2010

N°1 in Ball Pen(18% market share)

N°1 in Mechanical Pencils

(14% market share)

N°1 in correction(17% market share)

- 52 -

N°2 in marking(7% market share)


>30% share of the Indian Pen market

90% awareness

The leading Indian writing instrument brand

The widest distribution network in India

Cello Pens are distributed nationwide through:

731,000 outlets all across India

a network of 42 super-stockistsand 4,200 distributors

Appr. 5,000 employees

1 bn pens per year (2 industrial sites )

P E N S

Cello Pens

- 53 -


2009 Total stationery : ~ INR 90billion (1.3 billion Euros)

2009 Total writing instruments : ~ INR 28billion (408 million Euros)

OthersPaper and Notebooks

Pens

Others

Pencils

WritingInstruments

Mid to high-single digit annual growth

India’s writing instrument market overview

68.7 INR = 1 euro (December 31, 2011)

- 54 -


Lighters


World Excl. Asia

Asia

The pocket lighter marketVolumes vs. value

BIC estimates for 2010 – Retail prices

Volumes: 11.0 billion units Value: 3.1 billion euros

- 56 -


World excl. Asia

Flint

World excl. Asia Electronic

The pocket lighter marketFlint vs. electronic


AsiaElectronic

Asia Flint

Volumes: 11.0 billion units Value: 3.1 billion euros

- 57 -


Market shares in volumes outside Asia Market shares in value outside Asia

Asian manufacturers

BIC

Other brandedlighters

The pocket lighter marketKey players outside Asia


- 58 -


1.2 1.31.4

1.0 1.0 1.0

0.5

0.9

0.5

USA Europe Latin America

BIC Lighter Average Asian LighterIndex compared to pocket lighter average

The pocket lighter marketRetail Price positioning

BIC estimates for 2009 – Base = Average Retail Selling Prices

- 59 -


Overview of safety regulation around the world

1998

ISO : 1989CR : 1995

2000

2003

CR : 1992ISO : 1997

2003

2004

20052011

2006

2007

2010

20062003

- 60 -

1994

1997

Child resistant

ISO 9994 and Child Resistant

ISO 9994


Africa Asia Europe Latin America*

NorthAmerica*

ISO 9994 conform lighters

Low quality lighters

Matches

* real enforcement of the regulation

Long term view of safety regulation impacton lighter sales

- 61 -


2005 – 2011 BIC Lighter Key Figures

31.9% 32.5% 32.1% 29.2%34.0% 36.2% 39.1%

+12.5%+5.6%

+3.7% +0.8%+5.3%

+11.6% +8.6%

2005 2006 2007 2008 2009 2010 2011

- 62 -

FY 2011 Net Sales

FY 2011 IFO 199.8 M€510.8 M€ YoY Change +15.1%


BIC Lighter – Strategy

Strengthen its position as the only lighter brandwith worldwide strengths

by promoting the extension and the total enforcementof international safety standards

by accelerating the development of value-added products (sleeves, cases and utility lighters)

- 63 -


Integrated distribution network

BIC LighterN°1 branded lighter manufacturer

Market leadership - Estimated market shares (in value)

Consumer preference Safety – Quality – Prevention & education

vs. market average

Pocket lighters in markets where BIC is present in 2010

More than 50 automatic

quality controls

Dedicated Customer Support Teams in all countriesLargest distribution network

- 64 -

cc. 45%

< 30%

> 65% > 65%

Worldwide Europe North America Latin America


Shavers


The shaver market (1/5)

Total wet shave market in 2011:~ 11 billion euros

Double Edge9%

One‐piece35%

Refillable56%

- 66 -

OtherMethods*

32% Wet Shave68%

Total shaver market in 2011:~ 16 billion euros

* Electric, Depilatories…Source: Euromonitor + Industry publications



Men ‐Wet Shave57%

Men ‐Electric20%

Women ‐Wet Shave

11%

Women ‐Other

methods*12%

- 67 -

“Hair removal” market breakdown in 2011 (in value)

* Electric, Depilatories…Source: Euromonitor + Industry publications

Men76%

Women24%



3.1%2.8% 2.8%

4.4%

1.5%

2.5%

Disp System Total

Europe US

Wet shave marketCAGR Value Growth 06-11

- 68 -

Wet Shave market trend(in billion euros)

8.2 8.6 9.1 9.5 10.2 10.8

2006 2007 2008 2009 2010 2011



Market evolution towards more value-added products (in value)

14%

5%

86%

58%

0%

37%

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011

Single Blade Twin Blades Triple Blades and More

16%

3%

80%

30%

4%

67%

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011

Single Blade Twin Blades Triple Baldes and More

Western Europe USA

- 69 -

Source: USA = IRI MULO FY 2011Europe = AC Nielsen All countries FY 2011



Market evolution towards more value-added products (in value)

9% 7%

87%

73%

4%

21%

2007 2008 2009 2010 2011

Single Blade Twin Blades Triple Blades and More

Brazil

- 70 -

Source : AC Nielsen FY 2011


42%

12%

21%

One-piece Market shares (1/2)

56%

13%18%

- 71 -

In volume In value

Total market shares in Europe, USA and Brazil

Gillette Schick BIC Gillette Schick BIC

Source : IRI Nielsen - Last 52 weeks ending December 2011


One-piece Market shares (2/2)

- 72 -

USA28%

15%

27% 26%39%

19%23%

16%

In volume In value

38%

16% 17%24%

Euro

pe

Gillette Schick BIC Private Labels

52%

19% 15% 12%

Gillette Schick BIC Private Labels

Source: IRI Full Year 2011 vs. Last 52 weeks ending January 8, 2012 / USAIRI Nielsen CMR Year to date Oct 2011 / France, Italy, Greece and Spain


23% 23%

34%

19%

1%36%

24%

28%

11%

1%

Euro

peU

SA

In volume In value

44%

29%

19%

8%

1%

3&4 Blades one-piece Market shares

Source: IRI Full Year 2011 vs. Last 52 weeks ending January 8, 2012 / USAIRI Nielsen CMR Year to date Oct 2011 / France, Italy, Greece and Spain

35%

24%29%

13%

1%

Gillette

Schick

BIC

Private Labels

Others

- 73 -


2005 – 2011 BIC shaver key figures

- 74 -

9.2% 9.9%8.2%

4.1%

12.5%14.2%

18.2%

+9.2%+6.2%

+9.2%

+3.9%+2.4%

+7.6% +9.1%

2005 2006 2007 2008 2009 2010 2011

FY 2011Net Sales

FY 2011IFO 59.8 M€328.2 M€ YoY Change +42.7%


Shavers - Strategy

Strengthen our foundation in one-piece

A complete and successful range of one-piece three and four-blade products for men (Comfort 3™ Advance™, Comfort 3™,Comfort 4™, Flex 4™, Flex Easy and Hybrid 4 Advance™ …)

A strong franchise in the women’s segment with the BIC®

Soleil® Brand

Products offering a better value

Great value for money positioning

- 75 -


3 blades men One-piece – France (€)3&4 blades women One-piece – US (USD)

Shavers: quality and innovation at a reasonable price

A complete and well price-positioned range of one-piece triple-blade products for men

A strong franchise with products offering a better value in the women’s segment

Average price per volume – January 2012 Average price per volume – January 2012

Women’s Refillable – US (USD)

- 76 -

1.02

1.27

1.3

1.49

1.71

1.71

1.74

2.05

2.73

BIC Simply Soleil

BIC Soleil Original

BIC Soleil Easy Hybrid

Xtreme 3 Comfort +

Sensor 3 / Daisy 3

BIC Bella 4B

Simply Venus

Quattro Disposable

Venus Disposable

0.51

0.81

0.82

1.11

1.13

1.16

1.17

1.23

1.62

2.34

BIC 3

BIC Flex 3

Blue 3

Sensor 3

Xtreme 3

BIC Hybrid Advance

BIC Comfort 3 Advance

BIC Flex 4

BIC Comfort 4

Mach 3

2.80

2.56

Venus System

Quattro System

Average price per volume – January 2012


Leverage 10 years of innovation

10/20

12/20

15/20

2000 2005 2010

77

25% 27%

21% 23%

2009 2011

Sales generated by the products launched during the last 3 years(1)

Consumer shave panel results –BIC products performance Index vs best competitor

Volu

mes

Valu

e

New products success Continuous shaving performanceimprovements

Better brand image(2) Market share gains(3)

(1) Value sales of disposables in the U.S. in 2011 (2) in USA brand tracking study among wet shave users aware of the BIC brand (3) share of Disposable in USA

28%

20%17%

BIC Competitor 1 Competitor 2

44% 47%57%

65%

BIC is a brand that delivers agood shaving performance

BIC is a brand that is goodvalue for money

2001 2011


4 new products in 2012

1USD

Sim

plic

ityTechnology

Value… Performance… Innovation

BIC Shaver category in 2012

- 78 -


Advertising& Promotional Products


Advertising and Promotional Products History and definition

Advertising specialties

Premiums

Incentives

Business gifts

Awards

Prizes

Commemoratives

Imprinted/decorated items

Items used to advertise and promote a product, a service or a company program

- 80 -


Advertising and Promotional Products A large and growing business

Estimated Distributor market size> 22bn Euros

Estimated Supplier market size> 14bn Euros

Source: PPAI and BIC estimates for 2011

21%Europe 57%

USA

13%Latin

America

7% Canada

2% Oceania

23%Europe

60%USA

14%Latin

America

1% Canada

2% Oceania

- 81 -


Advertising and Promotional Products A large and growing business

1991 – 2011 US Distributor industry sales in billion USD+6.1% annual average growth rate

“Sub-prime” crisis

Source: PPAI reported industry sales and Bureau of Economic Analysis

2.9 3.1 3.8 4 4.2 4.5 5 5.1 5.26.2 7

89.5

11.913.2

14.9

17.916.6

15.6 16.317.3 18 18.8 19.4 18.1

15.616.6 16.9

1984 1986 1988 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010

11.9%

2.3%1.8%

19.2%

12.6%14.7%

18.1%

25.1%

11.0%13.3%

19.5%

-7.3%-5.6%

4.6%5.9%4.1%

4.3%3.5%

-6.9%

-13.6%

5.9%7.2%

1990 1995 2000 2005 2010

US distributor industry salesUS GDP End of the

Internet bubble

- 82 -

2011

2011


Advertising and Promotional Products A structured BUT fragmented industry

Manufacturing

Assembly

Sourcing

Multiple printing applications

End-userCompanyDistributorSupplier

1

Traditional outside sales team Fulfillment programs, Door-to-door sales, Friends and family

Direct MarketingWEB, Catalogs, Samples, Telesales

Special markets Hotel & lodging, Pharmaceutical, Tobacco, Government

2

Brand awareness

Employee relations & events

Tradeshows

Public relations

New customer acquisition

Dealer/distributor programs

New product/service introduction

Employee service awards

Not-for-profit programs

Internal promotions

Safety education/incentive

Customer referral

Marketing research

End-user

3

Products are sold blank or imprinted

- 83 -

End-user

End-user

End-user

End-user

4


2011 US suppliers estimated market

share

2011 US distributors estimated market

share


- 84 -

Others79.3%

Others87.4%

Broder Brothers 4.0%Polyconcept 3.5%BIC APP 3.0%SanMar 3.0%Ennis 2.5%Bodek & Rhodes 1.5%HIT 1.1%Ash City 1.1%Staton Corporate & Casual 1.0%

Staples 2.2%BDA 1.8%Proforma 1.7%Group II Communication 1.3%

4 Imprint 1.3%Geiger 1.0%HALO 1.0%Cintas 0.9%National Pen 0.8%Branders.com 0.7%


Estimated North American sales by product category

Wearables31%

Writing Instruments9%

Calendars8%Bags

6%Drinkware

7%

Desk/Office/Business Accessories 5%

Awards 4%

Others 3%

Sporting Goods2%

Housewares 3%

Buttons/Badges 2%

Games 2%Magnets 2%

Computers 2%

Stickers 2%

Electronics 2%

Textiles 2%

Automotives2% Personnal

1%Clocks and Watches

1%Food2%

Source: PPAI 2011


- 85 -


BIC Advertising and Promotional Products

BIC enters the Promotional Products Business

Products & geographicaldiversification

(Europe, USA, Latin America)

Atchison(USA)

Antalis

Promotional Products (Europe)

Mainly Internal growth Mainly External growth

1969 1970 2006 2007 2009

NorwoodPromotional

Products(USA)

Imprinted Writing Instruments

Imprinted lighters, sticky notes, drinkware, …

Imprinted bags

Complete range of non imprinted

products

Full range of imprinted & non

imprinted products

- 86 -


BIC APP - Highlights and key figures

BIC APP Net Sales Breakdown by Products CategoryFull Year 2011

- 87 -


2009 - 2011 APP Key Figures

- 88 -

10.4%9.2%

8.1%

-18.9%

-3.3% -10.4%

2009 2010 2011

FY 2011Net Sales

FY 2011IFO 19.3 M€302.0M€ YoY Change -29.5%


BIC APP today

One of the most efficient Advertising & Promotional Products Industry leader

FactoryWarehouse

N°2In Europe

N°4In the US

N°2 Worldwide

- 89 -


SustainableDevelopment


BIC®

Cristal®Pen

LighterBIC®

Maxi

BIC®

Classic Single-blade

Shaver

88% 7% 4% - 1%

87% 6% 5% - 2%

83% 11% 4%

78%

2%-

(shaverinc.usage)

Measure…

Items used to advertise and promote a product, a service or a company program

- 91 -


Recycled plastic and metalPlastic from vegetal origin

Refillable products

Light and long lasting products

Reduce to the raw material weight

1

Maximum increaseof the duration of use

2

Use alternative materials

3

… to eco-design …

Take into account our main impact:use of non renewable raw materials

- 92 -


Light and long-lasting products overcoming the paradox

of disposable vs. long-lasting

A trendsetting range

Eco-values on packagingfor stationery products

… our products

- 93 -


Cristal® Fine

Orange™ Fine

Clic Stic™

BIC Matic

Evolution™ 650

Evolution™ 655

Evolution™ coloring

Evolution™ coloring Triangle

Atlantis® Clic (in box only)

4 Couleurs™

4 Couleurs™ fine

BIC® Kids Visacolor™ XL

Cristal® Medium (uniquement en boîtes)

French Ecolabel NF EnvironnementBIC first manufacturer to be certified

- 94 -


An example of ecodesign: the BIC® Easy shaver

Ecodesign allowed to create a shaver with: Less material With the same characteristics, therefore the same perception of quality by the consumer

BIC® C3 ® AdvanceTM BIC® Easy

-20%

1st step:

Reducingthe quantityof material

2nd step:

Have a longer durationof use

+=BIC® EASY 1

lighweight handle sold with 6 heads

=

-59% of environne-

mental Impacton the

duration of use

60 days of shaving

- 95 -


Appendix

Group presentation for investors - 97 - 97

% of salesAverage rate

2010Average rate

2011 % of changeUS Dollar 38% 1.33 1.39 -5.0%Brazilian Real 13% 2.33 2.32 0.4%Mexican Peso 5% 16.72 17.26 -3.3%Canadian dollar 3% 1.37 1.38 -0.8%Australian dollar 2% 1.44 1.35 6.6%South African Zar 2% 9.72 10.08 -3.7%Non Euro European countries 4%

Sw eden 9.55 9.03 5.5%Russia 40.25 40.83 -1.4%Poland 3.99 4.11 -3.0%

British Pound 0.86 0.87 -1.1%

FY 2011 net salesMain exchange rate evolution vs. euro


9M 2012 net sales Main exchange rate evolution vs. euro

% of salesAverage rate Q3

11Average rate Q3

12 % of changeUS 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 salesAverage rate

9M 11Average rate

9M 12 % of changeUS 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%


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 +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%

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% +2.7% +2.1% +7.1% +0.4% -1.7% +1.7%

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% +3.8% +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


Group Quarterly figures by geography

* see glossary

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 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

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% +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%

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% +0.4%

North America Net Sales 641.0 148.8 210.8 225.4 188.7 773.8 149.8 186.6 538.3 201.9 189.7 728.0 179.4 214.9 224.8 619.1

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% +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%

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% +4.5%

Developing marketsNet Sales

418.1 118.5 124.4 132.9 157.1 532.8 147.8 137.3 417.5 132.3 161.0 578.4 154.1 142.2 143.1 439.4

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% +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%

YoY changes on a comparative basis* - - - - - - +16.6% +14.0% +11.5% +4.6% +8.1% +10.5% +5.8% +5.8% +7.8% +6.5%


Group Consumer

In millioneuros 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%


+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%


+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%


* see glossary


Stationery

- 102 -


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%


-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%


* see glossary



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 +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%


Lighters

* see glossary


Shavers

- 104 -

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 +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%


* see glossary


Other Consumer Products

- 105 -


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%


+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


Advertising & Promotional Products (BIC APP)

- 106 -


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%

YoYchanges 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%


-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


9M 2012 Net Sales breakdownby category

34%

28%

20%

4%

14%


ProductsStationery

Lighters

Shavers



FY 2011 Net Sales breakdownby category

32%

28%

18%

17%

7%


Products Stationery

Lighters

Shavers



9M 2012 Net Sales breakdownby geography

26%

43%

31%

Developing markets

Europe

North America


FY 2011 Net Sales breakdownby geography

28%

40%

32%

Developing markets

Europe

North America


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.


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 for 2012 means excluding restructuring, the costs ofBIC APP integration plan, the gain on the disposal of the phone cards distributionbusiness in France and real estate gains - for 2011 excluding restructuring,impairment of goodwill and trademarks related to the disposal of PIMACObusiness to business divisions in Brazil and the gain on the disposal of REVA pegbusiness.

.


2013 Agenda

FY 2012 results February 13, 2013 Meeting – Company headquarters

1st Quarter 2013 results April 24, 2013 Conference Call

2nd Quarter & 1st Half 2013 results August 1, 2013 Conference Call

3rd Quarter 2013 results October 23, 2013 Conference Call


Disclaimer

This document contains forward-looking statements. Although BIC believes itsexpectations are based on reasonable assumptions, these statements are subject tonumerous risks and uncertainties.A description of the risks borne by BIC appears in section “Risks and Opportunities” ofBIC Registration Document filed with the French financial markets authority (AMF) on27 March 2012.


IR contacts

Sophie Palliez-CapianHead of IR

33 1 45 19 55 28 [email protected]

Katy Bettach-MontecatineIR

33 1 45 19 52 92 [email protected]

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