Somfy // Annual Financial Report 2021

02 MANAGEMENT REPORT

S 1 f ;1$ ecdfI :)$ /*0*:$# 6 8:1$89)*6 =*:) 9) 8$ ! 6*: / L L L LI :)$ /*0*:$# !306 1*$9 L L Le 1# 1 !38 1# !$8: *1 0$0 $89 3' :)$ $96 :;8$ ' 0*/? !31!/;#$# 9) 8$)3/#$89M (8$$0$1: !319:*:;:*1( 1 !:*31 *1 !31!$8: $:=$$1 :)$0I *1 8$/ :*31 :3 :)$ !306 1? 30'? L )$ 0 *1 !/ ;9$9 3' :)$ (8$$0$1: 683<*#$K 2 ' - , ', - , !02? :)$ 6 8:*$9 !31'*80 :)$*8 =*9) :3 !: *1 !31!$8: =*:)*1 :)$ 0$ 1*1( 3' 8:*!/$ L effQdc 3' :)$ 300$8!* / 3#$ :3 *06/$0$1: !30031 63/*!? =*:) 8$( 8# :3 30'? L 3 :) : $1#I :)$ 6 8:*$9 ;1#$8: .$ :3 0 .$ $<$8? $''38: 1# :3 !319;/: 31$ 13:)$8 $'38$ $<$8? <3:$ *1 :)$ $1$8 / $$:*1( 3' 30'? ) 8$)3/#$89 31 8$93/;:*319 8$/ :*1( :3 :)$ 663*1:0$1: 3' 0$0 $89 3' :)$ ;6$8<*938? 3 8# U8$6/ !$# 9*1!$ e ;1$ eced ? :)$ 3 8# 3' *8$!:389V 38 03#*'*! :*31 3' :)$ 03#$ 3' #0*1*9:8 :*31 38 0 1 ($0$1: 3' :)$ !306 1? 1# 1? :8 19 !:*31 *1 :)$ ! 6*: / 3' 30'? =*:) <*$= :3 $9: /*9)*1( !30031 639*:*31L ', 2 ',', % 2 & ! ! / 3 ' 27 & -* ', %? :)$ 6 8:*$9 ;1#$8: .$ :3 0 *1: *1 :)$*8 3<$8 // $7;*:? )3/#*1( *1 30'? : 038$ :) 1 h cr 3' :)$ 9) 8$ ! 6*: / 1# <3:*1( 8*():9 3' :)*9 !306 1?L 30 2 ' - , ? :)$9$ ;1#$8: .*1(9 8$ 0 #$ '38 6$8*3# 3' :$1 ?$ 89 '830 :)$ 9*(1 :;8$ 3' :)$ (8$$0$1:I 1 0$/? f ;1$ ecdfL 1? #$!*9*31 :3 8$#;!$ :)$ :$80 3' :)$ (8$$0$1: =*// $ 0 #$ ? q 0 -38*:? 3' :)$ 30'? 9) 8$9 )$/# ? :)$ 6 8:*$9I *: $*1( ;1#$89:33# :) : *1 :)$ ! 9$ 3' 9$6 8 :*31 3' :)$ 9) 8$9I :)$ <3:*1( 8*(): =*// $/31( :3 :)$ ;9;'8;!:; 8?L )$ !306 1? *9 = 8$ :) : !3//$!:*<$ 8$:$1:*31 (8$$0$1: 8$/ :*1( :3 igLlfr 3' :)$ 9) 8$ ! 6*: / 3' 30'? 1# 038$ :) 1 ecr 3' :)$ <3:*1( 8*():9 3' 9) 8$9 *99;$# = 9 9*(1$# 31 fd $!$0 $8 ecd h ? 9$<$8 / 9) 8$)3/#$89I *1!/;#*1( $ 1 ;*// ;0$ $96 :;8$ U ) *80 1 3' :)$ 1 ($0$1: 3 8# ;1:*/ e ;1$ eced 1# ) *80 1 3' :)$ 3 8# 3' *8$!:389 9*1!$ :) : # :$VI *$88$ * $*83 U0$0 $8 3' :)$ 1 ($0$1: 3 8# 1# )*$' *1 1!* / ''*!$8 ;1:*/ e ;1$ eced 1# )*$' >$!;:*<$ ''*!$8 9*1!$ :) : # :$VI *!:38 $96 :;8$ U0$0 $8 3' :)$ ;6$8<*938? 3 8# ;1:*/ e ;1$ ecedVI 1:)31? : )/ U0$0 $8 3' :)$ ;6$8<*938? 3 8# ;1:*/ e ;1$ eced 1# 0$0 $8 3' :)$ 3 8# 3' *8$!:389 9*1!$ :) : # :$V 1# *!)$/ 3//*$8 U ) *80 1 3' :)$ ;6$8<*938? 3 8# ;1:*/ e ;1$ eced 1# 0$0 $8 3' :)$ 3 8# 3' *8$!:389 9*1!$ :) : # :$VL )*9 (8$$0$1: = 9 !31!/;#$# *1 !!38# 1!$ =*:) 8:*!/$ kk h #- 3' :)$ $1$8 / > 3#$ '38 6$8*3# 3' :=3 ?$ 89 '830 fd $!$0 $8 ecd h I ;:30 :*! //? $>:$1#$# *1#$'*1*:$/? ':$8 :)*9 :=3Q?$ 8 6$8*3#L ;8:)$8038$I :)$ !306 1? *9 = 8$ 3' 9*> !3//$!:*<$ 8$:$1:*31 (8$$0$1:9 8$/ :*1( :3 :3: / 3' $:=$$1 glLffr 1# h gLefr 3' 30'? M9 9) 8$ ! 6*: /I 9*(1$# ? 9$<$8 / 9) 8$)3/#$89 *1 !!38# 1!$ =*:) 8:*!/$ jkj 3' :)$ $1$8 / > 3#$I '38 1 *1#$:$80*1 :$ 6$8*3# '830 :)$ # :$ 3' 8$(*9:8 :*31 ;1/$99 31$ 3' :)$ 9*(1 :38*$9 (*<$9 13:*!$ 3' :$80*1 :*31L

<3:*1( 8*(): :) : *9 #3; /$ :) : !31'$88$# 31 3:)$8 9) 8$9 *9 //3! :$# :3 // ';//? 6 *# 9) 8$9 :) : ) <$ $$1 #;/? 8$(*9:$8$# '38 : /$ 9: '3;8 ?$ 89 *1 :)$ 1 0$ 3' :)$ 9 0$ 9) 8$)3/#$8 : :)$ $1# 3' :)$ ! /$1# 8 ?$ 8 68$!$#*1( :) : 3' $ !) $1$8 / $$:*1(L 1 :)$ ! 9$ 3' ! 6*: / *1!8$ 9$ ? :)$ ! 6*: /*9 :*31 3' 8$9$8<$9I 683'*:9 38 *99;$ 68$0*;09I 8$(*9:$8$# 9) 8$9 (8 1:$# '8$$ 3' !) 8($ :3 9) 8$)3/#$8 *1 $>!) 1($ '38 $>*9:*1( 9) 8$9I =)*!) /8$ #? $1$'*: '830 :)*9 8*():I =*// $ $1:*:/$# :3 :)$ 9 0$ #3; /$ <3:*1( 8*():L // 9) 8$9 !31<$8:$# *1:3 $ 8$8 9) 8$9 38 =)39$ 3=1$89)*6 ) 9 $$1 :8 19'$88$# 9) // /39$ :)$*8 $1:*:/$0$1: :3 #3; /$ <3:*1( 8*():I $>!$6: *1 *19: 1!$9 683<*#$# '38 ? / =L )$ 0$8($8 3' :)$ !306 1? ) 9 13 $''$!: 31 :)$ #3; /$ <3:*1( 8*(): =)*!) 0 ? $ $>$8!*9$# =*:)*1 :)$ 938 *1( !306 1?I *' 683<*#$# '38 ? 9 *# !306 1?M9 8:*!/$9 3' 993!* :*31LY QOQP = @ QRR E V S ? /$::$8 8$!$*<$# 31 di ;1$ ecedI */!)$9:$8 1:$81 :*31 / 1<$9:389 U *0$ Z *'$ ;*/#*1(I d 8;:31 :8$$:I h :) /338I 31#31 d i I 1*:$# *1(#30VI !:*1( 31 $) /' 3' ';1#9 ;1#$8 *:9 0 1 ($0$1:I #$!/ 8$# :) : 31 d h ;1$ eced *: ) # ' //$1 $/3= :)$ h r 3=1$89)*6 :)8$9)3/# 3' 30'? 1# :) : *: )$/#I 31 $) /' 3' 9 *# ';1#9I dIkggIccj 9) 8$9 *1 30'? 8$68$9$1:*1( 1 $7; / 1;0 $8 3' <3:*1( 8*():9I $7; :*1( :3 gLlkr 3' :)$ 9) 8$ ! 6*: / 1# eLlcr 3' <3:*1( 8*():9 *1 :) : !306 1?L )*9 :)8$9)3/# !8399*1( 8$9;/:$# '830 :)$ 9 /$ 3' 30'? 9) 8$9 31 :)$ 0 8.$: U 13:*!$ 1] eed dgedVL U L ee h Qedd V S )$ !306 1? ) 9 *06/$0$1:$# 9$<$8 / 9;!!$99*<$ 9) 8$ ;? !. 683(8 00$9L )$ / 9: 9) 8$ ;? !. 683(8 00$ = 9 *06/$0$1:$# *1 eced *1 !!38# 1!$ =*:) :)$ ;:)38*9 :*31 (*<$1 ? :)$ 30 *1$# $1$8 / $$:*1( 3' e ;1$ eced *1 *:9 :$1:) 8$93/;:*31I 9*::*1( *1 38#*1 8? 9$99*31I ;:)38*9*1( :)$ 3 8# 3' *8$!:389I '38 6$8*3# 3' dk 031:)9 1# *1 !!38# 1!$ =*:) 8:*!/$9 L eeQdcQie 1# 9; 9$7;$1: 1# L ee h Qedc 1# 9; 9$7;$1: 3' :)$ 300$8!* / 3#$I :3 ;? !. !306 1? 9) 8$9I 31 31$ 38 9$<$8 / 3!! 9*319 9 *: #$$09 668368* :$I ;6 :3 0 >*0;0 3' dcr 3' :)$ 1;0 $8 3' 9) 8$9 !3068*9*1( :)$ 9) 8$ ! 6*: /I 8$9: :$# *' 1$!$99 8? :3 : .$ !!3;1: 3' 1? *1!8$ 9$ 38 8$#;!:*31 *1 9) 8$ ! 6*: / :) : 0 ? : .$ 6/ !$ #;8*1( :)$ :*0$'8 0$ 3' :)$ 683(8 00$L ) 8$ 6;8!) 9$9 !3;/# $ ! 88*$# 3;: '38 :)$ '3//3=*1( 3 -$!:*<$9K :3 9:*0;/ :$ :)$ 9$!31# 8? 0 8.$: 38 $19;8$ :)$ /*7;*#*:? 3' :)$ R 30'? 9) 8$I ? = ? 3' 1 *1<$9:0$1: 9$8<*!$9 683<*#$8 =*:)*1 /*7;*#*:? !31:8 !: :) : !306/*$9 =*:) 68 !:*!$9 8$!3(1*9$# ? 8$(;/ :*319I *: $*1( 96$!*'*$# :) : =*:)*1 :)*9 '8 0$=38. :)$ 1;0 $8 3' 9) 8$9 !319*#$8$# '38 :)$ ! /!;/ :*31 3' :)$ /*0*: 96$!*'*$# 3<$ !388$9631#9 :3 :)$ 1;0 $8 3' 9) 8$9 6;8!) 9$# /$99 :)$ 1;0 $8 3' 9) 8$9 8$93/#J :3 8$: *1 :)$ 9) 8$9 6;8!) 9$# 1# 9; 9$7;$1:/? $>!) 1($ :)$0 R 38 ;9$ :)$0 9 6 ?0$1: =*:)*1 :)$ '8 0$=38. 3' 63:$1:* / !7;*9*:*319J :3 $19;8$ :)$ !3<$8 ($ 3' 9:3!. 36:*31 6/ 19 1#P38 '8$$ 9) 8$ R //3! :*31 6/ 19 U38 9*0*/ 8V (8 1:$# :3 $06/3?$$9 1#P38 !38638 :$ 3''*!$89 3' :)$ 83;6I 9 =$// 9 // 3:)$8 9) 8$9 //3! :$# ;1#$8 !306 1? 38 (83;6 9 <*1(9 9!)$0$ U38 9*0*/ 8VI *1 8$/ :*31 :3 $06/3?$$ 683'*:Q9) 8*1( 1#P38 1? 3:)$8 '380 3' //3! :*31 :3 $06/3?$$9 1#P38 !38638 :$ 3''*!$89 3' :)$ 83;6J

U ej V S

N )$ <3:*1( 8*(): :: !)$# :3 9) 8$9 *9 683638:*31 / :3 :)$ ! 6*: / :) : :)$? 8$68$9$1:L // ! 6*: / 1# #*<*#$1# 9) 8$9 ) <$ :)$ 9 0$ 6 8 < /;$ 1# $1:*:/$ :)$*8 3=1$8 :3 31$ <3:$L

33

SOMFY – ANNUAL FINANCIAL REPORT 2021