SOMFY // 2022 Annual Report

05 CONSOLIDATED FINANCIAL STATEMENTS

Financial assets and liabilities (Fair value recognised in

Fair value hierarchy

Amount at 31 December 2021

Assets and liabilities at

Financial assets and liabilities Fair value recognised in items of other comprehensive income)

amortised cost (Fair value equal to net book value)

the income statement)

€ thousands

Assets Non-current financial assets

4,942

1,782

3,160

- - -

Level 3 Level 3 Level 3 Level 2

136,612

Trade receivables

136,612

- -

394 702

Current financial assets

394

Current derivative instruments Cash and cash equivalents Liabilities Non-current financial liabilities Current financial liabilities

-

778

-76

736,665

611,595

-

125,070

Levels 1 & 2

63,796 31,244 123,644

40,657 14,644 123,644

23,139

-

Level 3 Level 3 Level 3 Level 2

- - -

16,600

Trade payables

- -

-

Non-current derivative instruments

-

The net book value of current assets and liabilities is deemed to be a reasonable approximation of their fair value due to their short-term nature. For variable rate borrowings and debt, net book value is deemed to be a reasonable approximation of their fair value. The fair value of derivativeinstruments and cash equivalents is established with referenceto observable market data (Level 2). Non-consolidatedequity investments, as well as earn-outs and options related to business acquisitions are measured at their balance sheet

fair value, based in particular on the future earnings prospectsof the businesses acquired (Level 3). There has been no change in the methodof determining fair value for any category during the period.

Cash and cash equivalents Note 7.2.5

Accounting principle Note 7.2.5.1 Cash includes bank balances (bank assets and overdrafts) and cash in hand. Cash equivalents are short-term and very liquid deposits, easily convertible into a known amount of cash and subject to a negligible risk of unfavourable change in value.

Detailed information Note 7.2.5.2 € thousands

31/12/22 233,299 392,997 626,295

31/12/21 501,052 235,613 736,665

Cash

Cash equivalents

CASH AND CASH EQUIVALENTS

Cash equivalents are mainly interest-bearing current accounts and financial investments presumed to be eligible as cash equivalents in keeping with the joint position issued by the Autorité des Normes Comptables (French Accounting Standards Authority) and the Autorité des Marchés Financiers (French Financial Markets Authority).

118

SOMFY – ANNUAL REPORT 2022