SOMFY_HALF-YEAR_FINANCIAL_REPORT_2018

02 2018 CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS

Analysis of net financial debt Note 10.2.3

The net financial debt corresponds to the difference between financial assets and financial liabilities. Notably, it takes into account unlisted bonds receivable, issued by certain companies in which shares are held or related entities, earnouts on acquisitions, liabilities relating to options granted to minority shareholders in fully-consolidated companies and deferred settlements of a financial nature. Not included are securities innon-controlling equity investments, deposits& guarantees and governmentgrants.

30/06/18

31/12/17 Restated for operations treated in accordance with IFRS 5

31/12/17

€ thousands

Financial liabilities included in net financial debt calculation Financial assets included in net financial debt calculation

50,658

31,364

110,358

79 — 79 —

2,164

2,164

Marketable securities –

—

—

Loans –

2,095

2,095

Miscellaneous –

70

70

Cash and cash equivalents

174,540 -123,960

192,493 -163,294

212,834 -104,640

NET FINANCIAL DEBT

Liabilities related to put options and earnouts

29,072

22,982

78,077

Other financial liabilities

—

—

5,267

RESTATED NET FINANCIAL DEBT

-153,032

-186,276

-187,984

(-) Net financial surplus.

ANALYSIS OF CASH FLOW STATEMENT NOTE 11 —

CASH AND CASH EQUIVALENTS NOTE 11.1

30/06/18 6 months 212,564 212,834

30/06/17 6 months 126,249 133,847

€ thousands

CASH AND CASH EQUIVALENTS AT THE START OF THE PERIOD

Cash and cash equivalents at the start of the period

Bank overdrafts

-269

-7,598

CASH AND CASH EQUIVALENTS AT THE END OF THE PERIOD

160,547 174,540 -13,993

104,950 110,544

Cash and cash equivalents at the end of the period

Bank overdrafts

-5,594

CHANGE IN WORKING CAPITAL REQUIREMENTS NOTE 11.2

30/06/18 6 months

30/06/17 6 months

€ thousands

Net decrease/(increase) in inventory

-21,345 -63,950 18,138

-9,923 -72,338 21,722

Net decrease/(increase) in trade receivables Net (decrease)/increase in trade payables Net movement in other receivables and payables CHANGE IN WORKING CAPITAL REQUIREMENTS

246

667

-66,911

-59,871

29

SOMFY – HALF-YEAR FINANCIAL REPORT 2018