SOMFY - Annual financial report 2019

08 PARENT COMPANY FINANCIAL STATEMENTS

TAX CONSOLIDATION NOTE 4.2

List of companies included in tax consolidation Somfy SA Parent Company

The tax consolidation agreement signed between Somfy SA and its direct and indirect subsidiaries was renewed on 1 January 2013 for an indefinite period of time. In accordance with the agreement, the difference calculated between the income tax chargeable on the combined profits of the tax consolidation and the sum of the Group companies’ individual tax charges is credited to Somfy SA, the Group’s parent company. At 31 December 2019, tax savings resulting from the transfer of losses from subsidiaries are considered to be tax income. Should a subsidiary cease to be a member of the tax consolidation, it will be compensated by Somfy SA in accordance with a jointly-agreed exit methodology, taking account of the situation at that date.

Cluses Cluses

Somfy Activités SA

Simu CMC

Gray

Cluses Rumilly

Domis SA

Automatismes BFT France

Saint-Priest

SEM-T

Cluses

Saint Laurent du Var

BFT Sud-Est

Opendoors

Cluses

Épagny Metz-Tessy

Currently there are no available Group tax losses to be used.

Overkiz

Somfy Protect by Myfox

Labège

NET PROFIT NOTE 5 — Net profit totalled €115.0 million.

NON-CURRENT ASSETS NOTE 6 — GROSS NON-CURRENT ASSETS NOTE 6.1

Gross value 31/12/18

Increase Decrease

Merger movements

Other movements

Gross value 31/12/19

€ thousands

Intangible assets

215

– –

– –

– – – – – – –

– –

215

Property, plant and equipment

2

2

Financial assets

441,734 398,156 33,629

9,211 4,730 1,296 2,033 1,151

-14,617

4,000 4,000

440,328 406,886 22,458

Equity investments*

–

Receivables from equity investments**

-12,468

– – –

Other financial assets

1,294 8,656

–

3,327 7,658

Bonds***

-2,149

The increase in equity investments was due to the creation of a subsidiary in Saudi Arabia. * Other movements correspond to the capitalisation of financial receivables related to Opendoors. The decrease in receivables from equity investments is linked to the refunding of financial advances made to certain subsidiaries. ** Bonds receivables fell by €2,149 thousand as a result of the redemption of 2019 instalments by Garen. *** The increases also relate to garen (revaluation and capitalisation of 2019 interest).

AMORTISATION AND DEPRECIATION NOTE 6.2

Amount at 31/12/18

Charges

Reversals

Merger movements

Other movements

Amount at 31/12/19

€ thousands

Intangible assets

214 214

– – – –

– – – –

– – – –

– – – –

214 214

Concessions, patents and licences Property, plant and equipment

2

2

216

216

136

SOMFY – ANNUAL FINANCIAL REPORT 2019