SHAREHOLDERS’ LETTER N°52
BIC Group’s Shareholders' Letter of December 2020
The last few months of 2020 have been filled with great developments and many news on our Group.
Shortly after the publication of our third quarter results, we held our first Capital Markets Day, during which we unveiled BIC's mission and Raison d'Être as well as the Group's new strategic orientations. The corporate values were reviewed and shared with all our team members.
You will find all of these topics in this designated letter for you, including the acquisition of RocketBook, which is our first step into the promising digital writing sector.
THIRD QUARTER & NINE MONTHS 2020 RESULTS
Find here the third quarter & nine months 2020 results press release
CAPITAL MARKET DAY : BIC LAUNCHES HORIZON STRATEGIC PLAN
On November 10th, BIC held its first Capital Markets Day aimed at providing investors globally with an update on its transformation, as well as a presentation of its new Horizon Strategy plan, a multi-year plan to accelerate growth at BIC.
The event included various presentations : Consumer-driven Innovation and Digital Writing, Value-Driven Supply Chain, Strengthened and Agile Commercial Operations, Strategy Framework, Flame for Life and Financial Performance Update.
Find here the Horizon plan Press release
To watch the full event, please see the replay by clicking on the link here.
BIC INTRODUCES ITS NEW VISION AND MISSION
The “Horizon” plan is reflected in BIC’s Vision and renewed Mission, designed through a collaborative process including BIC’s Board of Directors, the Executive Committee, and BIC team members.
“We Bring Simplicity and Joy to Everyday Life”. Through this Vision, BIC’s ambition is to create a sense of ease and delight in the millions of moments that make up the human experience.
“We create high quality, safe, affordable, essential products trusted by everyone” is BIC new Mission (Raison d’Être).
Watch here the new vision and mission video
BIC TRANSFORMS ITS USE OF PLASTIC
Taking its Sustainable Development journey to the next level and transforming its approach to plastics in line with its “Writing the Future, Together” 2025 Sustainable Development program, BIC will significantly improve its products' environmental footprint and reduce its carbon emissions.
Its bold new commitments encompass both packaging and products:
• by 2025, 100% of BIC packaging will be reusable, recyclable, or compostable
• by 2030, BIC will use 50% non-virgin petroleum plastic in our products, with an intermediate target of 20% by 2025
Watch a brief video about BIC’s sustainability journey
BIC'S AGREEMENT TO SELL CLICHY HEADQUARTERS
BIC has signed an agreement to sell its Clichy-La-Garenne-based (France) Headquarters and BIC Technologies sites for an amount of 175 million euros to BNP Paribas Real Estate and Citallios, representing approximately a 169 million euros gross capital gain.
The BIC Clichy sites represent land area of approximately 3.8 hectares.The closing is expected in Q1 2021.
BIC remains deeply anchored in Clichy and announced in February 2020 the signing of a lease agreement related to the main part of the eConic building, located in Porte de Clichy. This certified BREEAM certified building will become BIC’s new Headquarters in 2022.
ACQUISITION OF ROCKETBOOK, THE LEADING SMART REUSABLE NOTEBOOK BRAND IN THE U.S.
BIC has signed an agreement to acquire Rocketbook, the leading smart and reusable notebook brand based in Boston, Massachusetts.
Rocketbook’s flagship products are the Rocketbook Core and Fusion Notebooks, which are smart reusable notebooks for use with erasable pens and a dedicated App, allowing you to instantly and wirelessly store your notes, doodles and lists in the cloud. They currently rank among the top reusable notebooks for Amazon consumers.
This acquisition is our second this year and marks BIC first foray into the fast-growing digital writing market.
BIC DONATES MORE THAN 100,000 PENS IN AFRICA TO HELP CHILDREN AND ADULTS IN NEED
Continuing its support for communities in the fight against COVID-19, BIC teams in Africa recently donated more than 100,000 pens to supply organizations helping citizens affected by violence and to help children learning from home during the pandemic.
In North Africa, BIC donated 28,000 writing and coloring items to the International Organization for Migration (IOM) and BIC East Africa has given more than 100,000 pens to Uganda’s Ministry of Education and Sports.
These donations are only a part of BIC’s continuing efforts to help communities and families worldwide
BIC INTRODUCES NEW BIC® EZ REACH™ LIGHTER FOR ALL LIGHTING OCCASIONS
In August 2020, BIC USA introduced the BIC® EZ Reach lighter, the ultimate lighter for all lighting occasions.
This new lighter is designed for lighting hard-to-reach places while helping to keep fingers away from the flame. The new innovative design is a perfect combination of the iconic BIC Pocket Lighter and the longer-reaching BIC Multi-purpose Lighter.
Its body is the size of a pocket lighter, so it fits comfortably in users’ hands, bags and pockets, making it perfect for lighting candles, grilling and everything in between. The new design directly meets consumers’ requests for a lighter that lights at any angle.
TEN EDUCATORS WIN FIRST BIC CRISTAL PEN AWARDS
At BIC, we have long been an advocate for improving lives through education.
In honor of the Global Education Week, BIC organized the first-ever BIC Cristal Pen Awards to celebrate exceptional educators around the world who inspire and bring joy to children every day while preparing them for the future.
The ten winners of this award, will receive a custom-designed award and their school or organization will receive a 5,000-euro grant and BIC Stationery product donation.
VIDEO ON THE BIC CORPORATE FOUNDATION AND ITS NEW DIRECTOR
BIC is committed to supporting education through the BIC Corporate Foundation.
See below a short video from Alison James, the new Executive Director of the Foundation, succeeding to Marie Aimée Bich-Dufour, to learn more about how the Foundation was created and how its work is contributing to improve learning conditions for 250 million children globally by 2025.
Watch the video
THE BIC® CRISTAL® PRESENTED AT THE LOUVRE LENS MUSEUM
The current exhibition "Louvre-Design" at the Louvre Lens museum (North of France) establishes a communication between a selection of pieces from the Louvre Museum (from Antiquity to 1850) and a selection of items from the design process (from 1850 to the present day).
Some pieces are selected for their iconic character, revealing the great names in the history of design, like the BIC® Cristal® presented next to an Egyptian scribe's tablet.
Limited company Capital: 173, 933,156.80 euros
• Divided into 45, 532, 240 shares of common stock, par value 3.82 euros
LISTED ON: EURONEXT PARIS
ISIN : FR0000120966
Continuous quotation 552.008.443 registered in Nanterre, France