SOMFY - 2021 Half-year financial report

02 2021 CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS

Current operating margin Note 6.3.2

Current operating margin corresponds to current operating result as a proportion of sales (COR/Sales). It is an interesting performance indicator as it reflects operating profitability.

30/06/21 6 months 213,799 805,026

30/06/20 6 months 102,623 568,893

€ thousands

Current operating result

Sales

CURRENT OPERATING MARGIN

26.6%

18.0%

Net financial debt Note 6.3.3

The net financial debt corresponds to the difference between financial assets and financial liabilities. It notably takes into account unlisted bonds receivable, issued by certain companies in which shares are held or related entities, earnout on acquisitions, liabilities relating to options granted to minority shareholders in fully-consolidated companies and deferred settlements of a financial nature. Not included are securities in non-controlling equity investments, deposits & guarantees andgovernment grants. Details of the calculation of the net financial debt are provided in note 9.2.3.

INVENTORIES NOTE 6.4

€ thousands

30/06/21

31/12/20

Gross values Raw materials and other supplies Finished goods and merchandise

60,574 134,579 195,153 -12,697 182,456

54,065 139,390 193,455 -13,462 179,993

Total

Provisions NET VALUES

Value 31/12/20

Net charges Exchange rate movements

Changes in consolidation scope and method

Value 30/06/21

€ thousands

-12,697

Inventory provisions

-13,462

970

-136

-69

TRADE RECEIVABLES NOTE 6.5

The €90.7 million increase in trade receivables relative to the position at end December 2020was mainly due to sales growth between the fourth quarter of 2020 and the second quarter of 2021 (with sales up €109.4 million over the period). The Group did not see any unusually late payments as a result of the health crisis.

OTHER NON-CURRENT AND CURRENT RECEIVABLES NOTE 6.6

Other non-current receivables Note 6.6.1

Other non-current receivables are not material. Other current receivables Note 6.6.2

€ thousands

30/06/21

31/12/20

Gross values Receivables from employees Other taxes (including VAT)

567

569

4,962

10,434

Prepaid expenses Other receivables

11,859

7,077

8,058

11,317

TOTAL 29,397 “Other receivables” notably include current receivables on the disposal of CIAT totalling €6.8 million at 30 June 2021 and €9.7 million at 31 December 2020. This reduction is the result of a €2.9 million partial paymentfollowing a court ruling (see “Highlights”). 25,445

20

SOMFY – HALF-YEAR FINANCIAL REPORT 2021