SOMFY - Annual financial report 2019

08 PARENT COMPANY FINANCIAL STATEMENTS

RAW MATERIAL RISK NOTE 15.2 Somfy SA protects its manufacturing subsidiaries against fluctuations in the price of raw materials via hedging agreements for materials on the financial markets (copper and zinc paper hedging) on components that cannot be physically covered. Income and expenses on completed hedging transactions have been reinvoiced in full to the subsidiaries concerned. The unrealised loss resulting from the recognition at fair value of the financial instruments, whose nature as a hedge cannot be demonstrated, was recognised at the end of the financial year. At 31 December 2019, the effective portion of hedges was valued at €0.2 million and the ineffective portion was nil.

Tonnes

Hedging of off-balance sheet items € thousands

Fair value € thousands

Types

31/12/19

Copper

700

3,584 3,571 7,155

230 -69 160

Swap Swap

Zinc

1,760 2,460

Tonnes

Hedging of off-balance sheet items € thousands

Fair value € thousands

Types

31/12/18

Copper

319 608 927

1,714 1,352 3,066

-63 -56

Swap Swap

Zinc

-119

STATUTORY AUDITORS’ FEES NOTE 16 — The amount of the Statutory Auditors’ fees, excluding tax and disbursements, paid by Somfy SA (issuer) is provided in note 14 to the consolidated financial statements.

SUBSIDIARIES AND INVESTMENTS NOTE 17 —

Share capital and premium

Reserves and retained earnings before allocation of net profit

Share of capital held (%)

Profit/ (loss) for the last financial year

Sales

Dividends received

€ thousands

Subsidiaries (at least 34% of share capital held by the company) DSG Coordination Center SA 668

31 100.00%

235

–

– – – – – – – – – – – – – –

Somfy Activités SA

35,000

118,869 100.00% 51,741

480,810

CMC

8

173 100.00%

596

– –

Somfybat Somfy Ltd

6,830

13,367 100.00% 2,458

146 306 348

561 100.00%

466

14,909 15,315 36,156

Somfy PTY. Limited

1,162 100.00% 1,221 274 100.00% 2,520

N.V Somfy S.A

Somfy Brasil LTDA

11,188

-11,171 99.99%

-485

5,624

Somfy GmbH (Germany) Somfy Kereskedelmi Kft

1,500

5,812 100.00% 11,283

170,716

1,600

787 177 132 307 314

-82 100.00%

328

4,892

Somfy spol s.r.o.

215 100.00% 2,772 398 100.00% 3,523

25,639 46,342

Somfy spolka z ograniczona odpowiedzialnoscia

Somfy S.R.L.

131 100.00% 2,017 100.00%

77

2,249 6,421

Chusik Hoesa Somfy Somfy Italia SRL Somfy España SA Somfy Systems Inc

-62

2,000

9,576 95.00% 6,867 73,785 100.00% 13,106 11,445 100.00% 6,149

24,731 32,786 91,041

10,010

9,000

8,786

–

143

SOMFY – ANNUAL FINANCIAL REPORT 2019