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BiC Clichy , France - February 17 , 2021 FULL YEAR 2020 RESULTS - GOVERNANCE 2020 resilience reflects solid operating model FY 2020 Net Sales : 1,627.9 million euros , ( -12.6 % on a comparative basis ) FY 2020 Normalized Income From Operations : 229.1 million euros - NIFO margin : 14.1 % Strong Cash generation and balance sheet • 129.7 million euros improvement in Working Capital • • Free Cash Flow before acquisitions and disposals : 274.5 million euros Net Cash Position : 183.9 million euros Net income : 93.7 million euros - EPS : 2.08 euros - Normalized EPS : 3.54 euros Accelerated and sustainable growth trajectory Launch of Horizon Plan - Categories reframed with increased consumer focus Djeep and Rocketbook : two acquisitions in line with Horizon plan to boost profitable growth Proceeds from Clichy Headquarters disposal to be reinvested to support growth initiatives Sustained Shareholder Return : 121.0 Million euros • 81.0 million euros Ordinary Dividend for 2020 fiscal year , paid in June 20211 • 1.80 euros per share 40 million euros Share Buyback in 2021 First European Impact Share Buyback program to be launched in H1 2021 , with part of the funds allocated to Abdul Latif Jameel Poverty Action Lab ( J - PAL ) and the BIC Corporate Foundation for Education . " As I reflect on how BIC has overcome an unpredictable year , I am grateful for BIC team members . Weathering the most challenging market conditions , they maintained business continuity , served our consumers relentlessly , and pushed forward our transformation journey to achieve solid results . Focusing on operational excellence , we have gained or maintained share in our key markets , delivered strong e - commerce growth , and reduced complexity in our inventory management . Our focus on proactive management of our business portfolio yielded growth opportunities outside the company , while refocusing on our core consumer business . By reframing our categories and embracing a consumer - focused business model , our Horizon plan is designed to create the momentum needed to fuel long - term growth and to create sustainable value for all stakeholders while strengthening our short - term resilience , " said Gonzalve Bich , Chief Executive Officer . 2021 Outlook ( based on current market assumptions ) ² We expect the overall trading environment to remain uncertain and volatile , particularly during the first half , as Covid- 19 will continue to affect trade channel dynamics and consumer shopping habits in our major markets . In 2021 , our objective is to deliver + 5 % to + 7 % total Net Sales growth at constant currencies . To succeed , we will focus on increasing market share in key growing countries through new product launches and efficient promotional activities and continue to expand in e - commerce . Consistent with our Horizon plan's target , FY 2021 Free Cash Flow is expected to be above 200 million euros , resulting from improved operating margins and strict control of CAPEX and Working Capital . Governance Acknowledging that he will lose his Independent Director status after his 12 years of tenure on the Board , Pierre Vareille informed the Board that he will not stand for re - election at the Annual Shareholders ' Meeting on May 19 , 2021 . Société BIC's Directors heartily thanked him for his contributions and for his stewardship in overseeing the Company's transformation during his tenure as Chairman . The search for a new Chair has been initiated and Pierre Vareille's successor is expected to be appointed as a Director at BIC's Annual Shareholders ' Meeting on May 19 , 2021 . Alternatively , the Board would appoint one of its members to serve as interim Non - Executive Chair until the following AGM . Pierre Vareille commented : " It has been an honor to serve as Société BIC's Director these last 12 years , and more importantly , to chair the Board and support Gonzalve Bich and his team , in collaborating on the design and the implementation of the Company's transformation and new strategic roadmap . I look forward to seeing BIC go from strength to strength with the successful execution of our Horizon plan . " 1 Payable on 2 June 2021 , subject to the approval at the AGM of May 19 , 2021 - Based on 44,976,333 shares ( see page 17 ) 2 See page 11 for main market assumptions . BIC- Press Release - Page 1 of 19