BIC : BIC Graphic Strategic Review Status BIC G
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BIC Group - Press Release Clichy - 07 February 2017 Follow BIC latest news on @BicGroup
BIC Group: status of BIC Graphic Strategic Review
BIC Group announces today the status of the strategic alternatives review initiated in February 2016 for BIC Graphic, its Advertising and Promotional Products activity.
After conducting a careful review of the business, the following decisions have been made:
- BIC Graphic Europe operations will report to the European BIC Consumer Product business. The European BIC Graphic team will focus on implementing a plan to develop a sustainable business model while developing innovative services and maintaining BIC Graphic's imprinting and decorating expertise. In Developing Markets , BIC Graphic operations that have a sustainable business model will report to the local consumer business.
- Strategic alternative discussions regarding BIC Graphic North America and the Asia Sourcing operations are still on-going. We expect to be able to communicate the outcome of these discussions in the coming weeks.
Although not fully completed, this review will impact BIC Group Full Year 2016 results as follows:
- BIC Graphic North America and Asia Sourcing Operations' Assets and Liabilities will be accounted for as "Non-Current Assets Held For Sale" and "Discontinued Operations" as of December 31, 2016, in accordance with IFRS 5.
- The review has led to the reassessment of BIC Graphic North America and Asia Sourcing Operations carrying value. This reassessment will negatively impact Group Net Income by approximately 40 million euros. This non-recurring item will be excluded from Normalized Earnings Per Share.
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Contacts
| Investor Relations : +33 1 45 19 52 26 | Press Contacts |
| Sophie Palliez-Capian sophie.palliez@bicworld.com | Albane de La Tour d'Artaise albane.delatourdartaise@bicworld.com |
| Katy Bettach katy.bettach@bicworld.com | Priscille Reneaume : +33 1 53 70 74 70 preneaume@image7.fr |
This document contains forward-looking statements. Although BIC believes its estimates are based on reasonable assumptions, these statements are subject to numerous risks and uncertainties. A description of the risks borne by BIC appears in the section, "Risk factors" in BIC's 2015 Registration Document filed with the French financial markets authority (AMF) on March 23, 2016.
For more information, please consult the corporate website: www.bicworld.com
2017 Agenda (all dates to be confirmed)
| Full Year 2016 Results | 13 February 2017 | Meeting - BIC Headquarters |
| First quarter 2017 results | 26 April 2017 | Conference call |
| 2016 AGM | 10 May 2017 | Meeting - BIC Headquarters |
| Second quarter 2017 results | 03 August 2017 | Conference call |
| Third quarter 2017 results | 25 October 2017 | Conference call |
About BIC
BIC is a world leader in stationery, lighters, shavers and promotional products. For more than 60 years, BIC 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 in the world. BIC products are sold in more than 160 countries around the world. In 2015, BIC recorded Net Sales of 2,241.7 million euros. The Company is listed on "Euronext Paris" and is part of the SBF120 and CAC Mid 60 indexes. BIC is also part of the following Socially Responsible Investment indexes: CDP's Climate A List, CDP's Supplier Climate A List, CDP Supplier Engagement Leader Board, FTSE4Good indexes, Ethibel Sustainability Index (ESI) Excellence Europe, Euronext Vigeo - Eurozone 120, Euronext Vigeo - Europe 120, Stoxx Global ESG Leaders Index.
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