Group presentation for investors December 2012

Transcription

1 Group presentation for investors December (0)

2 Agenda Q3-9M 2012 Results 3 GROUP OVERVIEW 29 History 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 Stationery The consumer stationery market Key Figures 48 Strategy 49 a BIC price" 50 BIC positions in major market segments 52 Cello Pens 53 India's writing instrument market overview 54 Lighters The Pocket Lighter market 56 Overview of safety regulation around the world 60 Long term view of safety regulation impact on lighter sales Key Figures 62 Strategy 63 N 1 branded lighter manufacturer 64 Shavers The shaver market 66 One-piece market shares 71 3&4 Blades one-piece Market shares key figures 74 Strategy 75 Quality and innovation at a reasonable price years of innovation in shavers 77 Shaver category in Advertising & Promotional Products History and definition 80 A large and growing business 81 A structured BUT fragmented industry 83 BIC APP 86 BIC APP Highlights and key figures key figures 88 BIC APP Today 89 Sustainable Development Measure 91 to eco-design 92 our products 93 French Ecolabel NF Environnement 94 An exemple of ecodesign 95 APPENDIX 96 Glossary Agenda 113 Contact

3 Q3-9M 2012 RESULTS

4 Group and category highlights -4-

5 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: million euros 20.4% 20.8% 21.4% Normalized IFO Normalized IFO exc. Special Premium Consumer business 23.5% 23.9% 9M M M12 exc. Special Premium Advertising & Promotional Products 4.8% 6.3% * See glossary -5-

6 Group 9 months 2012 Key figures EPS: +16.9% increase Net Cash Position In euros In million euros M M 2012 Sept Dec Sept

7 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 -7-

8 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% Q Q Q M 2012 Europe North America +3.9% +7.6% North America 38% Developing Countries +6.4% -8-

9 Stationery Consumer Industry trends stationery markets evolution 2012 trends 2012 August YTD -6.5% Total 3.4% USA Office Suppliers 1.7% Super Stores 2.9% Modern Mass Market 4.3% July 2011 June 2012 Central & Eastern: +11.0% Total 0.9% Europe Western: +3.0% Office Suppliers + Traditional Stores Modern Mass Market Western Europe 3.0% 4.1% Sources: BIC estimates 2012 US = NPD/IRI Europe: GFK (France, Belgium, Germany, UK, Italy, Spain and Greece - Traditional Channel excluded in Germany and UK) -9-

10 Stationery Change in net sales at constant currencies Normalized IFO margin % 18.4% % +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 Million euros Q1 12 Q2 12 Q3 12 9M 12 IFO Normalized IFO 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 Q 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. -10-

11 Lighters Change in net sales at constant currencies Normalized IFO margin % +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 Million euros Q1 12 Q2 12 Q3 12 9M 12 IFO Normalized IFO 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). -11-

12 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 YTD August 2012 Source: USA: IRI FDMX August 2012 Europe: Nielsen June

13 Shavers Change in net sales at constant currencies Normalized IFO % +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 Million euros Q1 12 Q2 12 Q3 12 9M 12 IFO Normalized IFO 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 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

14 Other Products Consumer Change in net sales on a comparative basis Normalized IFO % +19.5% +13.6% Million euros Q1 12 Q2 12 Q3 12 9M % +5.9% +4.3% +1.8% Normalized IFO In million euros 2.5% Q1 12 Q2 12 Q3 12 9M 12 Nonrecurrent items Net Sales IFO 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) -14-

15 BIC APP Change in net sales at constant currencies Normalized IFO margin % 9.7%8.9% 6.3% % 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 In million euros 4.9% 6.6% Q1 12 Q2 12 Q3 12 9M 12 IFO Normalized IFO 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) -15-

16 9 months 2012 consolidated financial figures -16-

17 9M 2012: From Net Sales to IFO In million euros 9M M 2012 Change Change at constant currencies* Change on a comparative basis* Net Sales 1, , % +1.7% +4.0% Gross Profit % Normalized* Income from Operations % Income from Operations % * See glossary -17-

18 9M 2012 non-recurring items In million euros 9M 2011 As % of sales 9M 2012 As % of sales Normalized* IFO % % Restructuring costs Goodwill and trademark impairments & related expenses Gains on disposals / Real Estate and others IFO as Reported % % *: see glossary -18-

19 9M 2012 Normalized* Income From Operations margin 20.4% 21.4% % M 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 -19-

20 9M 2012 From IFO to Group Net Income In million euros Q Q M M 2012 Normalized* IFO Non recurring items IFO Interest income Finance costs (including monetary assets reevaluation) Income before Tax Income tax 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 Group Net Income Number of shares outstanding net of treasury shares 47,761,438 47,305,808 47,761,438 47,305,808 EPS Normalized* EPS *: see glossary -20-

21 September 2012 Net Cash Position In million euros 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: million euros Special dividend : 85.3 million euros (2): Total 9M 2012 share buy-back: 20,878 shares 1.6 million euros Dividend Payment (1) Share buyback net of exercise of stock options and liquidity contract (2) Others September 2012 Net Cash Position

22 Full year 2012 outlook -22-

23 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 -23-

24 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 -24-

25 Mid-term objectives -25-

26 Objectives for the next 3 to 5 years Value Quality Safety Latin America, Middle-East, Africa, Asia Portable Fuel Cell Sound balance sheet Grow faster than our markets Improve operational efficiency Increase exposure to fast growing markets Seize external growth opportunities Continue to regularly increase shareholders remuneration Manufacturing productivity Bolt-on strategic acquisitions -26-

27 : improvement of operational performance Net sales evolution on a comparative basis and normalized IFO margin Stationery Lighters Shavers APP * Based on the assumption of consolidation of Norwood PP in 2009 non audited -27-

28 Objectives for the next 3 to 5 years Consumer business Annual Organic Growth* Between +2% and +4% Normalized IFO margin Between 15% and 20% Advertising & Promotional Products Annual Organic Growth* Low to mid-single digit growth Normalized IFO margin Between 8% and 12% * Excluding currency impact and bolt-on acquisitions -28-

29 Group overview

30 History at a glance 1950 Marcel Bich launches the BIC Cristal, the first high quality ballpoint pen at 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, ) -30-

31 BIC today 9,198 employees 23 factories on 4 continents 2011 NET SALES 1,824.1 m growth average on a comparative basis: +3.0% Every day, 25 million BIC stationery products 2011 Normalized Income From Operations Average Normalized IFO margin: 17.1% 6 10 million BIC lighters million BIC shavers 2011 EPS EPS CAGR: +7.8% million BIC Advertising and Promotional Products are bought in countries 2011 Free Cash Flow 115.7m 2011 FCF / net sales: 6.3% -31-

32 Operational Performance Normalized IFO Margin 19.9% 16.2% 17.4% 17.9% 17.4% 15.1% 15.3% 17.2% 10.1% 10.1% 7.2% 7.0% 6.0% 6.5% 5.0% 4.6% 4.7% 3.3% 2.4% 1.6% 5.9% 3.1% 2.1% -0.6% Change in Net Sales at Constant Currencies Change in Net Sales On a comparative basis -32-

33 Markets and categories FY 2011 sales breakdown by markets FY 2011 sales breakdown by categories Advertising & Promotional Products N2 In Europe & USA 18% One-piece shavers 5% Other consumer Products N2 Worldwide 17% Advertising & Promotional Products 20% Consumer Goods N1 Worldwide 28% Lighters N2 Worldwide 32% Stationery -33-

34 International footprint FY 2011 sales breakdown by geography History 32% Developing markets 40% North America 28% Europe 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) -34-

35 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). -35-

36 Strategic assets Quality and Value product positioning 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 -36-

37 Key strengths Products Brand S Worldwide leadership Balance Sheet Simple Reliable Inventive At the right Price * One-piece shavers in major markets (US, Europe, Latin America) ** Outside Asia -37- N 2 N 1 N 2 N 2 Stationery cc.10% market share Lighters cc. 45% market share** Shavers 20% market share* of one-piece in USA and Europe Advertising & Promotional Products Free Cash Flow M Net Cash Position at the end of 2011

38 Strong international brands BIC brand awarness rate France Germany United Kingdom Italy Spain Greece United- Sates Mexico Brazil South Africa Australia

39 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 -39-

40 CAPEX -40-

41 Cash Generation In million euros Free Cash Flow before acquisitions and disposals Free Cash Flow after acquisitions and disposals -41-

42 Use of cash policy 1 Focus on Strategic acquisitions 2006 PIMACO Adhesive labels Brazil 2007 Atchison Products Promotional products USA 2009 APP Promotional products Europe 2009 Cello Pens Writing instruments India 2009 Norwood Promotional Products USA 2011 Angstrom Fuel Cell Canada Continue to look for strategic acquisitions, although focus will be to succeed in leveraging recent moves 2 Dividend Regular dividend per share In euros Dividend per share Special Dividend Pay-out ratio 44% based on 2011 results 50% midterm objective 3 Share Buy-back YTD Oct In million euros -42-

43 Portable Fuel Cell device project Replacable cartridge Refillable fuel cell device Universal power cord + + Produces hydrogen on demand* Purchased separately from the fuel cell device Converts the hydrogen to electricity Provides electricity *: Hydrogen is produced on request by the chemical reaction of an aquaous solution, thanks to BIC patented technology -43-

44 Stationery

45 The consumer stationery market (1/3) Total worldwide consumer stationery market = 7.5 billion Euros in 2011 Key geographical markets breakdown (in value) 13% Rest of the world 7% India 9% Latin America 16% USA 18% Europe Breakdown by main segment (in value) 15% Coloring 6% Mechanical pencils 6% Correction 16% Markers 15% Japan 22% China Of which: 25% Ball pens 4% Rollers 57% Pens All market shares are based on 2011 estimated suppliers net sales figures -45-

46 The consumer stationery market (2/3) Market trends by geographies (in value) Market growth Size in million euros BIC Estimates & Published Research -46-

47 The consumer stationery market (3/3) Total worldwide consumer stationery market = 7.5 billion Euros in 2011 Breakdown by main supplier (in value) Sakura: 1% Schwan-Stabilo: 1% Crayola: 2% Zebra: 3% Pentel: 3% Mitsubishi: 3% 61% Others 11% Newell Rubbermaid cc. 10% BIC 6% Pilot BIC Estimate & Published Research 2011 Manufacturers figures Pens, pencils, markers, coloring, correction -47-

48 BIC Stationery Consumer key figures FY 2011 Net Sales FY M 83.5 M YoY Change +20.5% IFO +6.7% +4.1% -2.7% 9.6% 12.1% 14.2%

49 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-

50 Stationery Consumer: a BIC price (1/2) More than 3m outlets worldwide Historical and close relationship with the trade Iconic products Worldwide leadership positions Strong brands Strong positions in major market segments Consumer trust for more than 50 years 25 million BIC stationery products bought every day worldwide Innovation -50-

51 Stationery Consumer: a BIC price (2/2) Retail prices of ball pens in France (in euros) Cristal Cristal For Her M10 Atlantis Atlantis Gel 4 Couleurs 4 Couleurs Grip 51

52 Stationery Consumer BIC positions in major market segments* N 1 in Ball Pen (18% market share) N 1 in Mechanical Pencils (14% market share) N 1 in correction (17% market share) N 2 in marking (7% market share) 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

53 Cello Pens P E N S The leading Indian writing instrument brand >30% share of the Indian Pen market Appr. 5,000 employees 90% awareness 1 bn pens per year (2 industrial sites ) The widest distribution network in India Cello Pens are distributed nationwide through: 731,000 outlets all across India a network of 42 super-stockists and 4,200 distributors -53-

54 India s writing instrument market overview 2009 Total stationery : ~ INR 90billion (1.3 billion Euros) 2009 Total writing instruments : ~ INR 28billion (408 million Euros) Pens Pencils Writing Instruments Others Paper and Notebooks Others Mid to high-single digit annual growth 68.7 INR = 1 euro (December 31, 2011) -54-

55 Lighters

56 The pocket lighter market Volumes vs. value Volumes: 11.0 billion units Value: 3.1 billion euros World Excl. Asia Asia BIC estimates for 2010 Retail prices -56-

57 The pocket lighter market Flint vs. electronic Volumes: 11.0 billion units Value: 3.1 billion euros World excl. Asia Flint World excl. Asia Electronic Asia Electronic Asia Flint BIC estimates for 2010 Retail prices -57-

58 The pocket lighter market Key players outside Asia Market shares in volumes outside Asia Market shares in value outside Asia Asian manufacturers BIC Other branded lighters BIC estimates for 2010 Retail prices -58-

59 The pocket lighter market Retail Price positioning Index compared to pocket lighter average BIC Lighter Average Asian Lighter USA Europe Latin America BIC estimates for 2009 Base = Average Retail Selling Prices -59-

60 Overview of safety regulation around the world ISO : 1989 CR : CR : 1992 ISO : ISO 9994 Child resistant ISO 9994 and Child Resistant -60-

61 Long term view of safety regulation impact on lighter sales Africa Asia Europe Latin America* North America* ISO 9994 conform lighters Low quality lighters Matches * real enforcement of the regulation -61-

62 BIC Lighter Key Figures FY 2011 Net Sales FY M M YoY Change +15.1% IFO +12.5% +5.6% +3.7% +0.8% +5.3% 31.9% 32.5% 32.1% 29.2% 34.0% +11.6% +8.6% 36.2% 39.1%

63 BIC Lighter Strategy Strengthen its position as the only lighter brand with worldwide strengths by promoting the extension and the total enforcement of international safety standards by accelerating the development of value-added products (sleeves, cases and utility lighters) -63-

64 BIC Lighter N 1 branded lighter manufacturer Consumer preference Safety Quality Prevention & education vs. market average More than 50 automatic quality controls Market leadership - Estimated market shares (in value) cc. 45% < 30% > 65% > 65% Integrated distribution network Dedicated Customer Support Teams in all countries Largest distribution network Worldwide Europe North America Latin America Pocket lighters in markets where BIC is present in

65 Shavers

66 The shaver market (1/5) Total shaver market in 2011: ~ 16 billion euros Total wet shave market in 2011: ~ 11 billion euros Other Methods* 32% Wet Shave 68% Double Edge 9% Refillable 56% Onepiece 35% * Electric, Depilatories Source: Euromonitor + Industry publications -66-

67 The shaver market (2/5) Hair removal market breakdown in 2011 (in value) Men 76% Women 24% Women Wet Shave 11% Women Other methods* 12% Men Wet Shave 57% Men Electric 20% * Electric, Depilatories Source: Euromonitor + Industry publications -67-

68 The shaver market (3/5) Wet Shave market trend (in billion euros) Wet shave market CAGR Value Growth % % 2.8% 2.8% 2.5% 1.5% Disp System Total Europe US -68-

69 The shaver market (4/5) Market evolution towards more value-added products (in value) 86% Western Europe Single Blade Twin Blades Triple Blades and More USA Single Blade Twin Blades Triple Baldes and More 80% 58% 67% 37% 30% 14% 16% 0% 5% 4% 3% Source: USA = IRI MULO FY 2011 Europe = AC Nielsen All countries FY

70 The shaver market (5/5) Market evolution towards more value-added products (in value) Brazil Single Blade Twin Blades Triple Blades and More 87% 73% 21% 9% 7% 4% Source : AC Nielsen FY

71 One-piece Market shares (1/2) Total market shares in Europe, USA and Brazil In volume In value 56% 42% 12% 21% 13% 18% Gillette Schick BIC Gillette Schick BIC Source : IRI Nielsen - Last 52 weeks ending December

72 One-piece Market shares (2/2) In volume In value Gillette Schick BIC Private Labels 28% 15% 27% 26% USA Gillette Schick BIC Private Labels 39% 19% 23% 16% 52% 38% 16% 17% 24% Europe 19% 15% 12% Source: IRI Full Year 2011 vs. Last 52 weeks ending January 8, 2012 / USA IRI Nielsen CMR Year to date Oct 2011 / France, Italy, Greece and Spain -72-

73 3&4 Blades one-piece Market shares In volume In value 34% 35% Gillette Schick BIC Private Labels Others 23% 23% 36% 24% 28% 19% 11% 1% Europe USA 44% 24% 29% 29% 19% 13% 1% 8% 1% 1% Source: IRI Full Year 2011 vs. Last 52 weeks ending January 8, 2012 / USA IRI Nielsen CMR Year to date Oct 2011 / France, Italy, Greece and Spain -73-

74 BIC shaver key figures FY 2011 Net Sales FY M 59.8 M YoY Change +42.7% IFO +9.2% +6.2% +9.2% +3.9% +2.4% +7.6% +9.1% 18.2% 9.2% 9.9% 8.2% 12.5% 14.2% 4.1%

75 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-

76 Shavers: quality and innovation at a reasonable price 3&4 blades women One-piece US (USD) 3 blades men One-piece France ( ) Venus Disposable Quattro Disposable Simply Venus BIC Bella 4B Sensor 3 / Daisy 3 Xtreme 3 Comfort + BIC Soleil Easy Hybrid BIC Soleil Original BIC Simply Soleil Mach 3 BIC Comfort 4 BIC Flex 4 BIC Comfort 3 Advance BIC Hybrid Advance Xtreme 3 Sensor 3 Blue 3 BIC Flex 3 BIC Average price per volume January 2012 Average price per volume January 2012 Quattro System Women s Refillable US (USD) 2.56 A complete and well price-positioned range of one-piece triple-blade products for men Venus System Average price per volume January A strong franchise with products offering a better value in the women s segment -76-

77 Leverage 10 years of innovation New products success Sales generated by the products launched during the last 3 years (1) Consumer shave panel results BIC products performance Index vs best competitor 28% Continuous shaving performance improvements 20% 17% 12/20 15/20 10/20 BIC Competitor 1 Competitor Better brand image (2) Market share gains (3) % 44% 47% 65% 25% 27% 21% 23% Volumes Value BIC is a brand that delivers a good shaving performance BIC is a brand that is good value for money (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 77

78 BIC Shaver category in 2012 Value Performance Innovation 4 new products in 2012 Simplicity 1USD Technology -78-

79 Advertising & Promotional Products

80 Advertising and Promotional Products History and definition Items used to advertise and promote a product, a service or a company program Advertising specialties Premiums Incentives Business gifts Awards Prizes Commemoratives Imprinted/decorated items -80-

81 Advertising and Promotional Products A large and growing business Estimated Distributor market size > 22bn Euros Estimated Supplier market size > 14bn Euros 13% Latin America 7% Canada 2% Oceania 14% Latin America 1% Canada 2% Oceania 21% Europe 57% USA 23% Europe 60% USA Source: PPAI and BIC estimates for

82 Advertising and Promotional Products A large and growing business US Distributor industry sales in billion USD +6.1% annual average growth rate % 2.3% 1.8% 19.2% 14.7% 12.6% 18.1% 25.1% 13.3% 11.0% 19.5% US distributor industry sales US GDP 4.6% 5.9% 4.1% 4.3% 3.5% 5.9% 7.2% End of the Internet bubble Sub-prime crisis -7.3% -5.6% -6.9% Source: PPAI reported industry sales and Bureau of Economic Analysis %

83 Advertising and Promotional Products A structured BUT fragmented industry Supplier Distributor Company End-user Manufacturing Traditional outside sales team Fulfillment programs, Door-to-door sales, Friends and family Brand awareness Employee relations & events Tradeshows Public relations New customer acquisition End-user End-user Assembly Sourcing Direct Marketing WEB, Catalogs, Samples, Telesales Dealer/distributor programs New product/service introduction Employee service awards Not-for-profit programs Internal promotions End-user End-user Multiple printing applications Special markets Hotel & lodging, Pharmaceutical, Tobacco, Government Safety education/incentive Customer referral Marketing research End-user Products are sold blank or imprinted -83-

84 Advertising and Promotional Products A structured BUT fragmented industry 2011 US suppliers estimated market share 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% Others 79.3% 2011 US distributors estimated market share Others 87.4% 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% -84-

85 Advertising and Promotional Products A structured BUT fragmented industry Estimated North American sales by product category Automotives 2% Textiles 2% Personnal 1% Clocks and Watches 1% Food 2% Electronics 2% Stickers 2% Wearables 31% Computers 2% Magnets 2% Games 2% Buttons/Badges 2% Housewares 3% Sporting Goods 2% Others 3% Source: PPAI 2011 Awards 4% Desk/Office/Busine ss Accessories 5% Drinkware 7% Bags 6% Calendars 8% Writing Instruments 9% -85-

86 BIC Advertising and Promotional Products Mainly Internal growth Mainly External growth BIC enters the Promotional Products Business Products & geographical diversification (Europe, USA, Latin America) Atchison (USA) Antalis Promotional Products (Europe) Norwood Promotional Products (USA) Full range of imprinted & non imprinted products Complete range of non imprinted products Imprinted bags Imprinted lighters, sticky notes, drinkware, Imprinted Writing Instruments -86-

87 BIC APP - Highlights and key figures BIC APP Net Sales Breakdown by Products Category Full Year

88 APP Key Figures FY 2011 Net Sales FY M 19.3 M YoY Change -29.5% IFO -18.9% 10.4% -3.3% 9.2% -10.4% 8.1%

89 BIC APP today One of the most efficient Advertising & Promotional Products Industry leader N 2 Worldwide N 2 In Europe N 4 In the US Factory Warehouse -89-

90 Sustainable Development

91 Measure Items used to advertise and promote a product, a service or a company program BIC Cristal Pen 88% 7% 4% - 1% Lighter BIC Maxi 87% 6% 5% - 2% BIC Classic Single-blade Shaver 83% 11% 4% - 2% (shaver inc.usage) 78% -91-

92 to eco-design Take into account our main impact: use of non renewable raw materials 1 Light and long lasting products Reduce to the raw material weight 2 Refillable products Maximum increase of the duration of use 3 Recycled plastic and metal Plastic from vegetal origin Use alternative materials -92-

93 our products Light and long-lasting products overcoming the paradox of disposable vs. long-lasting A trendsetting range Eco-values on packaging for stationery products -93-

94 French Ecolabel NF Environnement BIC first manufacturer to be certified Cristal Fine Orange Fine Clic Stic BIC Matic Cristal Medium (uniquement en boîtes) Evolution 650 Evolution 655 Evolution coloring Atlantis Clic (in box only) Evolution coloring Triangle 4 Couleurs BIC Kids Visacolor XL 4 Couleurs fine -94-

95 An example of ecodesign: the BIC Easy shaver 1 st step: Reducing the quantity of material Ecodesign allowed to create a shaver with: Less material With the same characteristics, therefore the same perception of quality by the consumer -20% BIC C3 Advance TM BIC Easy 2 nd step: = + BIC EASY 1 lighweight handle sold with 6 heads Have a longer duration of use 60 days of shaving = -59% of environnemental Impact on the duration of use -95-

96 Appendix

97 FY 2011 net sales Main exchange rate evolution vs. euro % of sales Average rate 2010 Average rate 2011 % of change US Dollar 38% % Brazilian Real 13% % Mexican Peso 5% % Canadian dollar 3% % Australian dollar 2% % South African Zar 2% % Non Euro European countries 4% Sw eden % Russia % Poland % British Pound %

98 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% % Brazilian Real 10% % Mexican Peso 5% % Canadian dollar 3% % Australian dollar 2% % South African Zar 1% % Non Euro European countries 6% Sw eden % Russia % Poland % British Pound % % of sales Average rate 9M 11 Average rate 9M 12 % of change US Dollar 42% % Brazilian Real 10% % Mexican Peso 5% % Canadian dollar 3% % Australian dollar 2% % South African Zar 1% % Non Euro European countries 5% Sw eden % Russia % Poland % British Pound % -98-

99 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, , , , ,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 Normalized IFO* 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 Net Income EPS * see glossary -99-

100 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* % +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% % +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% % +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* % +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% % +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% % +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* % +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% % +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% % +14.0% +11.5% +4.6% +8.1% +10.5% +5.8% +5.8% +7.8% +6.5% * see glossary

101 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, , , , ,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 Normalized IFO* 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

102 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 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 Normalized IFO* 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

103 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 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 Normalized IFO* 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

104 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 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 Normalized IFO* 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

105 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 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 * Normalized IFO* * see glossary

106 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 YoY actual changes % +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 * % +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 Normalized IFO* 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

107 9M 2012 Net Sales breakdown by category Advertising & Promotional Products Other Consumer Products 4% 14% 34% Stationery 20% Shavers 28% Lighters

108 FY 2011 Net Sales breakdown by category Advertising & Promotional Products 7% Other Consumer Products Stationery 17% 32% Shavers 18% 28% Lighters

109 9M 2012 Net Sales breakdown by geography Developing markets 31% 26% Europe 43% North America

110 FY 2011 Net Sales breakdown by geography Developing markets 32% 28% Europe 40% North America -110-

111 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

112 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

113 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 -113-

114 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

115 IR contacts Sophie Palliez-Capian Head of IR sophie.palliez@bicworld.com Katy Bettach-Montecatine IR katy.bettach@bicworld.com