FOR IMMEDIATE RELEASE
BIC – NEW REPORTING STRUCTURE
Clichy, France – 7 April 2020 - Following the new organization announced at the time of BIC’s transformation plan launched in February 2019, a new reporting structure has been put in place starting in 2020.
The unallocated costs have been removed from Categories’ Income From Operations and Normalized Income From Operations, and will be presented separately:
- Stationery
- Lighters
- Shavers
- Other products
- Unallocated costs.
Unallocated costs include:
- Net costs [balance of income and expenses]
- of Corporate headquarters including IT, finance, legal and HR costs,
- of future shared services center.
- Other net costs that can’t be allocated to Categories, notably restructuring costs, gains or losses on assets’ divestiture, etc. Major unallocated items will be separately identified and disclosed.
Moreover, BIC’s Net Sales breakdown by geography will now be presented as follows:
- Europe
- North America
- Latin America
- Middle East and Africa
- Asia and Oceania (including India)
A presentation with unaudited restated figures for 2019 (Revenues and Income From Operations), adjusted per quarter and per categories is available on BIC website www.bicworld.com (Investors/Presentations).
ABOUT BIC
BIC is a world leader in stationery, lighters, and shavers. For more than 75 years, the Company has honored the tradition of providing high-quality, affordable products to consumers everywhere. Through this unwavering dedication, BIC has become one of the most recognized brands and is a trademark registered worldwide. Today, BIC products are sold in more than 160 countries around the world and feature iconic brands such as Cello®, Conté®, BIC FlexTM, Lucky Stationery, Made For YOUTM, Soleil®, Tipp-Ex®, Wite-Out® and more. In 2019, BIC Net Sales were 1,949.4 million euros. The Company is listed on “Euronext Paris,” is part of the SBF120 and CAC Mid 60 indexes and is recognized for its commitment to sustainable development and education. It received an A- Leadership score from CDP. For more, visit www.bicworld.com or follow us on LinkedIn, Instagram, Twitter, or YouTube.
CONTACTS
| Sophie Palliez-Capian VP, Corporate Stakeholder Engagement – +33 6 87 89 33 51 sophie.palliez@bicworld.com | |
| Investor Relations Contact | Press Contacts |
| Michèle Ventura +33 1 45 19 52 98 michele.ventura@bicworld.com | Albane de La Tour d’Artaise +33 1 45 19 51 51 Albane.DeLaTourDArtaise@bicworld.com |
| Isabelle de Segonzac : +33 1 53 70 74 85 isegonzac@image7.fr | |
2020 AGENDA – ALL DATES TO BE CONFIRMED
| First Quarter 2020 results | 23 April 2020 | Conference call and Webcast |
| 2020 AGM | 20 May 2020 | To be determined |
| First Half 2020 results | 29 July 2020 | Conference call and Webcast |
| Third Quarter 2020 results | 28 October 2020 | Conference call and Webcast |
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