SOMFY - Annual Financial Report 2020

05 CONSOLIDATED FINANCIAL STATEMENTS

Non-current provisions Note 9.1.1

Provisions for guarantees

Provisions for litigation

Provision for agents

Provisions for liabilities and charges

Total 2020

€ thousands

8,548 2,502

At 1 January 2020

5,111

968

465

2,003

Charges

193

2,124

31

154

-706 -583 -116

Used reversals Unused reversals

-361

-154 -208

-53

-138 -375

–

– – – –

Impact of foreign exchange rates

-118

– – –

2 – –

– –

Impact of changes in consolidation scope and method

– –

Other movements

AT 31 DECEMBER 2020

4,825

2,730

443

1,647

9,645

Current provisions Note 9.1.2

Provisions for guarantees

Provisions for litigation

Provisions for liabilities and charges

Total 2020

€ thousands

11,253 3,378 -2,436

At 1 January 2020

4,889

1,821 1,487

4,543 1,384 -1,622

Charges

508

Used reversals Unused reversals

-701

-113 -184

-587 -408

–

-403 -308

Impact of foreign exchange rates

-96

-4

– –

Impact of changes in consolidation scope and method

– –

–

–

Other movements

-197

197

AT 31 DECEMBER 2020

4,600

2,810

3,790

11,199

CONTINGENT LIABILITIES NOTE 9.2

Contingent liabilities correspond to potential obligations arising from past events, whose existence will only be confirmed by the occurrence of uncertain future events that are beyond the entity’s control, or from current obligations for which no cash outflow is likely to occur. Except for those resulting from business combinations, they are not recognised but disclosed in the notes to the financial statements. The Group has contingent liabilities relating to legal, arbitration or regulatory proceedings arising in the normal course of its business. Known or ongoing claims and litigation involving Somfy or any of the Group companies were reviewed at the end of the reporting period. Based on the advice of legal counsel, all provisions deemed necessary have been made to cover the related risks. All the Group’s contingent liabilities are listed in the Highlights.

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SOMFY – ANNUAL FINANCIAL REPORT 2020