SOMFY - Annual financial report 2019

07 CONSOLIDATED FINANCIAL STATEMENTS

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

115

ANALYSIS OF CASH FLOW NOTE 8 STATEMENT

ACCOUNTING PRINCIPLES NOTE 1 88

Note 1.1

Consolidated financial statements – Basis for

88

Note 8.1 115

Cash and cash equivalents

preparation

Note 8.2

Intangible assets and property, plant and

115

Note 1.2 88 Note 1.3 88 Note 1.4 88

Compliance with accounting standards

equipment

Judgements and estimates

Note 8.3 115

Change in working capital requirements

New applicable standards and interpretations

Note 8.4

Companies acquisitions and disposals, net of cash

115

acquired or disposed of

CONSOLIDATION SCOPE NOTE 2 91 Consolidation method Note 2.1 91 Foreign exchange translation Note 2.2 91 Business combinations Note 2.3 91

115

PROVISIONS AND CONTINGENT NOTE 9 LIABILITIES

Note 9.1 115 Note 9.2 116

Provisions

Contingent liabilities

Note 2.4 92

Operations treated in accordance with IFRS 5

EMPLOYEE INFORMATION NOTE 10 117 Workforce Note 10.1 117 Employee benefits Note 10.2 117 Share-based payments Note 10.3 120 CURRENT AND DEFERRED TAX NOTE 11 121 Tax proof Note 11.1 122 Deferred tax recognised in items of other Note 11.2 comprehensive income 123 Analysis by nature Note 11.3 123

SEGMENT REPORTING NOTE 3 93 PERFORMANCE-RELATED DATA NOTE 4 94 Sales Note 4.1 94 Other operating income and expenses Note 4.2 95 Alternative performance measures Note 4.3 95 Inventories Note 4.4 97 Trade receivables Note 4.5 97 Other current and non-current receivables Note 4.6 98 Other current and non-current liabilities Note 4.7 98

124

OFF-BALANCE SHEET NOTE 12 COMMITMENTS

99

INTANGIBLE ASSETS AND NOTE 5

PROPERTY, PLANT AND EQUIPMENT

Note 12.1 124 Note 12.2 124

Commitments given Commitments received

Note 5.1 99 Note 5.2 100 Note 5.3 103

Goodwill and impairment tests

Other intangible assets

Note 12.3

Commitments to acquire additional shares in

124

Property, plant and equipment

companies not fully-consolidated

EQUITY AND EARNINGS PER SHARE NOTE 6 105 Equity Note 6.1 105 Earnings per share Note 6.2 106

124

INVESTMENTS IN ASSOCIATES AND NOTE 13 JOINT VENTURES AND RELATED PARTIES

Note 13.1 124 Note 13.2 125

Investments in associates and joint ventures

FINANCIAL ITEMS NOTE 7 106

Related-party disclosures

Note 7.1 106 Note 7.2 106 Note 7.3 112

Net financial income/(expense) Financial assets and liabilities Financial risk management policy

STATUTORY AUDITORS’ FEES NOTE 14 125 LIST OF CONSOLIDATED AND NOTE 15 EQUITY-ACCOUNTED ENTITIES 126

87

SOMFY – ANNUAL FINANCIAL REPORT 2019