SOMFY - Annual financial report 2019
07 CONSOLIDATED FINANCIAL STATEMENTS
RETIREMENT BENEFITS – OTHER COUNTRIES
Gross obligation
Plan assets
Net obligation
Balance sheet position
€ thousands
At 31 December 2018
20,750
-15,696
5,054
5,054
671
Net expense for the period:
1,083 1,083
-412
671
current service cost and financial cost –
–
1,083
1,083
return on plan assets – employee contributions –
– – –
-412
-412
-412
–
–
–
-1,598
Contributions paid
-1,598
-1,598
-227
Benefits paid
-227
–
-227
-56
Actuarial gains & losses
17
-73
-56
54
Changes in foreign exchange rates Changes in consolidation scope
345
-291
54
–
–
–
–
AT 31 DECEMBER 2019
21,968
-18,070
3,898
3,898
Gross obligation
Plan assets
Net obligation
Balance sheet position
€ thousands
At 31 December 2017
18,992
-15,335
3,657
3,657
801
Net expense for the period:
1,246 1,246
-445
801
current service cost and financial cost –
–
1,246
1,246
return on plan assets – employee contributions –
– – –
-445
-445
-445
–
–
–
-859 -240
Contributions paid
-859
-859 -240
Benefits paid
-240
–
1,642
Actuarial gains & losses
-7
1,649
1,642
53
Changes in foreign exchange rates Changes in consolidation scope
759
-706
53
–
–
–
–
AT 31 DECEMBER 2018
20,750
-15,696
5,054
5,054
LONG SERVICE AND JUBILEE AWARDS
31/12/18
Cost
Benefits paid Changes in consolidation scope & foreign exchange rates
31/12/19
€ thousands
2,812
Actuarial liabilities
2,419
470
-84
7
31/12/17
Cost
Benefits paid Changes in consolidation scope & foreign exchange rates
31/12/18
€ thousands
2,419
Actuarial liabilities
2,282
198
-52
-9
TFR – TRATTAMENTO DI FINE RAPPORTO (ITALIAN SEVERANCE PAY PROVISION)
31/12/18
Cost
Benefits paid
Changes in consolidation scope
31/12/19
€ thousands
1,984
Liabilities
2,087
1,099
-1,202
–
31/12/17
Cost
Benefits paid
Changes in consolidation scope
31/12/18
€ thousands
2,087
Liabilities
2,149
1,178
-1,240
–
Defined benefit plans had a negative impact of €1.2 million on net profit in 2019.
119
SOMFY – ANNUAL FINANCIAL REPORT 2019
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