SOMFY // 2022 Annual Report

05 CONSOLIDATED FINANCIAL STATEMENTS

Detailed information Note 4.4.2

31/12/22

31/12/21

€ thousands

Gross values Raw materials and other supplies Finished goods and merchandise

89,289 232,805 322,094 -17,039 305,055

67,050 151,526 218,575 -14,401 204,174

Total

Provisions NET VALUES

Value 31/12/21

Net charges

Exchange rate movements

Changes in consolidation scope and method

Other movements

Value 31/12/22

€ thousands

-17,039

Inventory provisions

-14,401

-1,076

-49

-1,512

-

TRADE RECEIVABLES NOTE 4.5

Accounting principle Note 4.5.1

Trade receivables are recorded at their nominal value and a provision for writedown is established when receivables are unlikely to be collected. In accordance with IFRS 9, expected impairment losses on trade receivables are measured on the basis of an impairment table using impairment rates based on the duration of late payments.

Detailed information Note 4.5.2

Customer credit risk is linked to the receivables portfolio and the sometimes challenging economic environment in certain parts of the world. Nevertheless, customer profile, the Group’s internationagl eographic presence and the credit insurance cover help to mitigate thisrisk. The Group limits its exposure to credit risk related to trade receivables by implementing internal procedures (creditworthinessstudy of new customers, permanent monitoring of outstanding amounts, analysis of the economic environment, etc.). Credit insurance contracts, both in France and internationally, also mitigate the consequencesof customer default. Approximately 90% of salesare covered by such contracts. The Group’s exposure to credit risk related to trade receivables is therefore mainly influenced by the individual characteristics of each customer. The Group also takes into consideration factors that may influence the assessment of risk, in particular the economic background of certain countries in which customers are located.

€ thousands Gross value

31/12/22

31/12/21 146,815 -10,203 136,612

156,870

Provision

-9,280

NET VALUE

147,590

Value 31/12/21

Charges

Used reversals

Unused reversals

Exchange rate movements

Changes in consolidation scope and method

Other movements

Value 31/12/22

€ thousands

-9,280

-10,203

-412

932

501

56

-154

-

Provision for bad debts

103

SOMFY – ANNUAL REPORT 2022