SOMFY // 2022 Annual Report

05 CONSOLIDATED FINANCIAL STATEMENTS

Right of-use - Plant, machinery and tools

Other property, plant and equipment

Right of-use - Other

In progress and advance payments

Total

Land Buildings Right of-use - Land and buildings

Plant, machinery and tools

property, plant and equipment

€ thousands

13,497 21,953 650,246

Gross value at 1 January 2021 16,908 165,103 63,047 302,106

1,190

66,441

17,678 43,883

New right-of-use assets

-

-

12,371

-

201

-

5,106

-

Acquisitions

2 1,092

-

7,863

-

5,402 -5,647

-

29,523

- -20,374

Disposals

-

-354 -4,975 -6,248

-153

-2,997

Impact of changes in foreign exchange rates

2,883

-27

-52 1,444

662

-

746

28

80

Impact of changes in consolidation scope and method

2,204

-

-

622

300

15

959

308

-

-

Other movements

3 1,243

-

17,244

-

2,991

-

-21,481

AT 31 DECEMBER 2021 Accumulated depreciation at 1 January 2021

16,885 167,032 72,510 321,927

1,253

70,893

15,943 30,076 696,520

- -361,989

-1,414 -91,746 -16,951 -197,020

-446 -47,961

-6,451

Depreciation charge for the period

- -51,049

-248 -6,044 -9,435 -23,183

-296

-7,014

-4,829

17,056

Disposals

-

329 3,119

5,335

109

5,311

2,852

-

Impact of changes in foreign exchange rates

-1,672

9

-92

-470

-590

-

-478

-53

-

Impact of changes in consolidation scope and method

-941

-

-56

-

-257

-

-626

-1

-

-

Other movements

-

-256

312

-

-

-56

-

-

AT 31 DECEMBER 2021 NET VALUE AT 31 DECEMBER 2021

-1,652 -97,864 -23,425 -215,715

-632 -50,823

-8,483

- -398,595

15,233 69,167 49,085 106,213

621

20,069

7,460 30,076 297,925

The impact of changes in consolidation scope is linked to the acquisition of Teleco Automation. The total net value of right-of-use assets stood at €65.2 million at 31 December 2022, compared with €57.2 million at 31 December 2021. The main increases in right-of-use assets relate to renewed leases and two significant new leases: €4.7 million in respect of RS FRANCHISE (new registeredoffice) and €2.1 million in respect of SOMFY Canada. The average residual termis five years for commercial leases and two years for vehicleleases. For 2022, the average discount rate for property leases was 2.80% in France, 6.78% in Poland, 4.80% in China and 23.20% in Brazil, with durations ranging from three to seven years. For 2021, the average discount rate for property leases was 0.80% in France, 2.28% in Poland, 5.05% in China and 13.10% in Brazil, with durations ranging from three to seven years. The Group is affected by the issue of “3/6/9” leases (commercial leases with a minimum term of nine years and an early termination option every three years) on its French subsidiaries. The gross value of right-of-use assets on French leases stood at €17.2 million at 31 December 2022, compared with €12.4 million at 31 December 2021 (the gross value of rights to use land and buildings totalled €88.1 million at 31 December 2022, compared with €72.5 million at 31 December 2021). “3/6/9” leases are generally assumed to have a nine-year term. At 31 December 2022, uncapitalised lease expenses relating to services and short-term or low-value leases are broken down as follows: €1.3 million in respect of property lease expenses, €1.5 million in respect of vehicle lease expenses and €1.7 million in respect of other lease expenses. At 31 December 2021, uncapitalised lease expenses relating to services and short-term or low-value leases were broken down as follows: €1.0 million in respect of property lease expenses, €1.3 million in respect of vehicle lease expenses and €1.0 million in respect of other lease expenses. There is no significant property, plant and equipment (buildings, machinery and tools)in continuing use, with a net book value of zero. There are no contractual commitments to purchase property, plant and equipment.

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SOMFY – ANNUAL REPORT 2022