SOMFY - Annual financial report 2018

07 CONSOLIDATED FINANCIAL STATEMENTS

07

CONSOLIDATED FINANCIAL STATEMENTS

KEY FIGURES

€ millions

31/12/18

31/12/17*

Sales

1,126.7

1,089.4

Current operating result

177.8 137.7

174.7 164.4

Net profit from continuing operations

Net profit from operations treated in accordance with IFRS 5**

2.6

-6.6

Consolidated net profit

140.4

157.7

Net investments in property, plant and equipment and intangible assets

57.3

56.0

Cash flow

178.6 -222.4

207.7 -163.3

Net financial debt***

Net financial surplus (-) The financial statements have been restated following the change in the consolidation method of Dooya (application of IFRS 5, see note 2.4.2). * Dooya (see note 2.4.1). ** 2017 restated for Dooya for comparison purposes (see note 7.2.3). ***

Group sales were €1,126.7 million for the financial year just ended, an increase of 3.4% after the restatements resulting from the change in the consolidation method of Dooya. They benefited from a negligible scope effect but suffered from a negative currency impact of €19.9 million. The increase was 5.2% on a like-for-like basis, both over the full year and over each of the two six-month periods. It follows significant growth over the previous financial year (1) and reflects contrasting developments for the different regions, essentially due to local factors. Central and Eastern Europe (up 12.3%), Northern Europe (up 10.7%), Central and South America (up 8.6%), Asia-Pacific (excluding China) (up 8.5%), France (up 4.7%), Southern Europe (up 4.4%) and Germany (up 3.7%) ended the year on positive notes on a like-for-like basis, and very positive for some, despite a high comparison basis. These results reflect both the strong performance of historical markets, such as Benelux, France, the United Kingdom and Scandinavia, despite adverse weather conditions at the beginning of 2018, and the momentum of new markets, such as India, Indonesia, Poland, the Czech Republic, Hungary and Russia. They attest to the growing interest of consumers from different continents in motorised and connected solutions for the home and as such validate the Group’s policy of innovation and international expansion.

SALES GROWTH BY CUSTOMER LOCATION — Data in € millions

2016* 2017* 2018 18/17 change

Sales 993.6 1,089.4 1,126.7 +3.4% Financial statements restated following the change in the * consolidation method of Dooya (application of IFRS 5).

1,126.7

+3.4%

1,089.4

+9.6%

993.6

+5.3%

518.7

540.6

+9.6%

+4.2%

H2

473.3

+4.9%

H1

586.1

570.6

+2.7%

520.3

+9.7%

+5.7%

2016*

2017*

2018

Group sales after restatement of Dooya’s share grew 9.2% on a like-for-like basis over the 2017 financial year. (1)

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SOMFY – ANNUAL FINANCIAL REPORT 2018