Meet…

19.9% NOrMALIzEd IFO MArGINNET SALES

€1,824.1 M

countries with developing markets represent 32% of your net sales, what is the outlook like, more specifi cally in Asia?

Bruno Bich : Our goal is to realize more than 40% of our net sales from developing markets. Middle East and Africa zone will play an important role in reaching this goal. We are going to build a new Stationery plant in Tunisia that will allow us to better meet the consumer demands in the region. As far as Asia is concerned, the continent as a whole is very complex, but we will continue to invest to develop our brand’s name over the long term.

On this topic, where does your court case with the indian group cello Pens stand?

B.B : The International Arbitration Tribunal constituted in Singapore decided in our favor concerning the complete application of the defi nitive agreements signed on January 21, 2009 with the Cello company.

it’s been a somewhat disappointing year for Bic APP. How would you sum that up?

M.G : Sales dropped by 10%. We were able to maintain our market share and our position

The economic context will continue to be diffi cult over the next few years, but we will continue to grow in the face of adversity. Bruno Bich

as leader for writing instruments and calendars. However, we lost market shares in our “hard goods” activities following some issues in customer service which have since been resolved. More than 90% of BIC App sales were made in Europe and North America, in countries where there is not a lot of growth. 2011 was a transitional year as we integrated Norwood and Antalis. In 2012, we will focus our attention on customer service and product innovation.

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