BIC : BIC Graphic Strategic Review Status
07 Februar 2017 - 5:54PM
BIC Group - Press
Release
Clichy - 07 February 2017
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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.
* *
*
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 |
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.
BIC Graphic Strategic Review
Status
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: BIC via Globenewswire
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