SOMFY // 2022 Annual Report

05 CONSOLIDATED FINANCIAL STATEMENTS

AT 31 DECEMBER 2021

North & West South & East Intra-regional eliminations

Consolidated

€ thousands

1,477,834

Segment sales

577,938

1,224,707 -322,153

-324,811 324,811

Intra-segment sales

-2,658

-

1,477,834

Segment sales - Contribution to sales Segment current operating result

575,280 79,491

902,554 221,566 17,027 261,854 62,370 116,260 325,568 172,998

- - - - - - - -

301,056 17,027 313,108 69,991 119,035 363,425 172,998

Share of net profit/(loss) from associates and joint ventures

-

Cash flow

51,254

Net investments in intangible assets and PPE (including IFRS 16)

7,621 2,775

Goodwill

Net intangible assets and PPE

37,857

Investments in associates and joint ventures

-

PERFORMANCE-RELATED DATA NOTE 4 — SALES NOTE 4.1

Revenue recognition is based on an analysis that includes five successive steps, in accordance with IFRS 15 – Revenue from Contracts with Customers: – identify the contract; identify the various performance obligations, i.e. list the – distinct goods or services the seller is committed to supply to the purchaser; – determine the total price of the contract; – allocate the total price to each performance obligation; –recognise revenue when a performance obligation is satisfied. With regard to the sale of products, the Group acts on its own behalf and not as an agent. Product sales are generally the only performance obligation of the contracts. Revenue is recognised when control of the goods is transferred to the purchaser, in this case when the delivery or shipment has been made. The warranties offered to purchasers cover defects in the design or manufacture of products. They do not provide the customer with any service other than the assurance that the product is free from defect and therefore continue to be

recognised in accordance with IAS 37 – Provisions, Contingent Liabilities and Contingent Assets. The amount that SOMFY actually receives as consideration for the products delivered, as well as the revenue from sales recorded in the income statement may vary due to deferred discounts agreed by contractual agreements or at the start of commercial campaigns. These discounts will be paid to the customer at the end of the reference period subject to the achievement of the objectives set for the relevant period. Their value is determined using the expected value method. As for projects combining products and services, except as mentioned below, supplies of goods and services are identified as two separate performance obligations, which must be assessed individually as if they were sold separately. Revenue from products is thus recognised at the date of delivery or shipment, while revenue from services is recognised when the service is provided. When the products and services relate to a large-scale project whose characteristics are set for each customer individually, they represent a single performance obligation and revenue is recognised on an ongoing basis over the duration of the project as costs are incurred.

99

SOMFY – ANNUAL REPORT 2022