SOMFY - Annual financial report 2019

07 CONSOLIDATED FINANCIAL STATEMENTS

Analysis by maturity Note 7.2.2.2

Secured liabilities Note 7.2.2.5 The Group had no liabilities secured by collateral at 31 December 2019. Covenants Note 7.2.2.6 At 31 December 2019, Somfy SA had a total of €190.0 million undrawn medium-term loan facilities (confirmed credit lines) with seven banks. Funds made available by the credit institutions are subject to Somfy SA commitment to comply with financial covenants based on the Group’s financial structure (net financial debt/shareholder’s equity) and its ability to repay (net financial debt/EBITDA). Somfy SA was in compliance with all of these covenants at 31 December 2019. Somfy SA also had undrawn overdraft facilities totalling €41.0 million at 31 December 2019. Analysis of net financial debt Note 7.2.3

€ thousands 1 year or less

31/12/19 31/12/18

32,267 32,535 12,495 77,297

25,650

Between 1 and 5 years

9,991 1,607

5 years or more

TOTAL 37,248 The maturity profile of non-discounted and discounted minimum payments on leases is as follows:

Non-discounted 2019 debt

Discounted 2019 debt

€ thousands 1 year or less

13,662 29,082 13,215 55,959

12,590 26,963 12,446 51,998

Between 1 and 5 years

5 years or more

The net financial debt is defined in note 4.3.4.

TOTAL

€ thousands

31/12/19 31/12/18

Non-discounted 2018 debt

Discounted 2018 debt

Financial liabilities included in net financial debt calculation Of which liabilities related to lease – agreements (IFRS 16 and IAS 17)* Financial assets included in net financial debt calculation

77,297

37,242

€ thousands 1 year or less

1,454 2,810 1,684 5,948

1,222 2,193 1,558

51,998

4,973

Between 1 and 5 years

5 years or more

285

286

TOTAL 4,973 Only leases recognised in accordance with IAS 17 are included in 2018 figures. Analysis by rate Note 7.2.2.3 € thousands 31/12/19 31/12/18 Variable rate 4,883 10,857 Fixed rate 41,091 1,036 Non-interest bearing 31,323 25,355 TOTAL 77,297 37,248 Non-interest-bearing financial liabilities mainly include put options granted to holders of non-controlling interests and earnouts. Analysis by currency Note 7.2.2.4 € thousands 31/12/19 31/12/18 Euro 38,027 19,501 Other 39,270 17,747 TOTAL 77,297 37,248

Marketable securities –

–

–

Loans –

285

286

Miscellaneous –

–

–

Cash and cash equivalents

387,547

259,345

NET FINANCIAL DEBT

-310,535 -222,389

Liabilities related to put options and earnouts RESTATED NET FINANCIAL DEBT

23,015

24,778

-333,550 -247,168

Net financial surplus (-) At 31 December 2018, in accordance with IAS 17, only finance * leases were restated in the balance sheet. The adoption of IFRS 16 in place of IAS 17 with effect from 1 January 2019 resulted in all leases being restated, leading to a €42.1 million increase in financial liabilities at that date.

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SOMFY – ANNUAL FINANCIAL REPORT 2019