SOMFY SA (EPA:SO) - Somfy / Sales for the first half of the financial year 2019

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18/07/2019 17:45

PRESS RELEASE
18 JULY 2019

                        SALES FOR THE FIRST HALF OF 2019

Consolidated sales            2019       2018       Var.         Var.
(EUR millions)             Published   Restated   Restated  Like-for-like

First quarter                283.1      270.7      +4.6%        +4.3%
Second quarter               332.0      315.4      +5.3%        +5.1%
First half-year              615.1      586.1      +4.9%        +4.7%

Notes:
Published sales for the first quarter of the 2018 financial year have been
restated in accordance with international accounting standards (IFRS 5) for
comparison purposes, following the change in the control and governance methods
of the Chinese subsidiary Dooya (exit from the scope of full consolidation and
consolidation of the entity under the equity method).
The change on a restated basis corresponds to the variation at constant
consolidation method, and the change on a like-for-like basis corresponds to
the variation at constant consolidation method, consolidation scope and
exchange rates.

Group sales totalled EUR615.1 million for the first six months of the financial
year, an increase of 4.9% in real terms and 4.7% on a like-for-like basis,
including 4.3% and 5.1% during the first and second quarters, respectively. It
is in line with the trend seen in previous half-years and reflects the
continued mixed fortunes of the different geographic regions(1).

Significant growth was recorded in Northern Europe (up 15.8%) and Central &
Eastern Europe (up 15.7%), reflecting the increasing momentum of new
industrialised countries such as Hungary, Poland, the Czech Republic and
Romania, as well as the strength of historical territories such as Benelux, the
United Kingdom and Scandinavia, a result of the healthy trajectory of local
markets and the successful launch of new products in recent months.

(1) The figures included in brackets after the geographic regions refer to
like-for-like variations. They are calculated based on customer location.

Significant growth was also recorded in Germany (up 6.1%), continuing the
recovery seen at the end of last year, as well as in Central & South America
(up 5.0%), Asia-Pacific (up 3.5%) and China (up 10.5%).

In contrast, there were variable performances in France (up 2.3%), following
the change in fiscal measures relating to the energy transition, North America
(up 1.0%), as a result of unfavourable base effects and adverse weather
conditions, Southern Europe (up 0.6%), due to the weaker Italian economy, and
in Africa & Middle East (down 12.4%), as a result of the instability of several
countries in the region and unavoidably more restrictive sales terms.

Sales(2) of the equity-accounted Dooya totalled EUR87.4 million over the
half-year, an increase of 10.0% in real terms and 9.4% on a like-for-like
basis. This reflects significant growth both in China (up 9.3%) and the rest of
the world (up 9.5%).

CORPORATE PROFILE

Somfy is the global leader in automated opening and closing systems for both
residential and commercial buildings, and a key player in the connected home.

CONTACTS

Somfy: Pierre Ribeiro: +33 (0)4 50 40 48 49
Shan: François-Xavier Dupont: +33 (0)1 44 50 58 74 /
Alexandre Daudin: +33 (0)1 44 50 51 76

CALENDAR

Publication of half-year results: 10 September 2019 (press release and
conference call after close of trading)

(2) The sales figures provided refer to the sales amounts generated with
customers outside the Group.

APPENDICES

Analysis of first half-year sales

Consolidated sales            2019       2018       Var.         Var.
(EUR millions)             Published   Restated   Restated  Like-for-like

France                       178.8      174.7      +2.4%        +2.3%
Germany                       95.5       90.0      +6.1%        +6.1%
Northern Europe               73.4       63.5     +15.6%       +15.8%
Central & Eastern Europe      73.2       63.4     +15.4%       +15.7%
Southern Europe               64.7       64.0      +1.0%        +0.6%
North America                 53.2       49.4      +7.7%        +1.0%
Africa & Middle East          31.8       38.3     -16.9%       -12.4%
Asia-Pacific (excl. China)    26.5       25.2      +5.3%        +3.5%
Central & South America       11.2       11.6      -3.2%        +5.0%
China                          6.7        6.0     +11.9%       +10.5%
Total                        615.1      586.1      +4.9%        +4.7%

Analysis of first quarter sales

Consolidated sales            2019       2018       Var.         Var.
(EUR millions)             Published   Restated   Restated  Like-for-like

France                        87.5       88.7      -1.3%        -1.3%
Germany                       43.7       40.2      +8.8%        +8.8%
Northern Europe               31.3       26.2     +19.6%       +19.6%
Central & Eastern Europe      30.4       26.4     +15.3%       +16.2%
Southern Europe               29.6       28.9      +2.4%        +2.1%
North America                 24.3       23.0      +5.6%        -2.0%
Africa & Middle East          14.5       16.6     -13.1%        -8.3%
Asia-Pacific (excl. China)    13.1       12.3      +6.0%        +3.6%
Central & South America        5.7        6.1      -5.7%        +3.2%
China                          3.0        2.4     +24.6%       +21.9%
Total                        283.1      270.7      +4.6%        +4.3%

Analysis of second quarter sales

Consolidated sales            2019       2018       Var.         Var.
(EUR millions)             Published   Restated   Restated  Like-for-like

France                        91.3       86.0      +6.1%        +6.1%
Germany                       51.8       49.8      +4.0%        +4.0%
Northern Europe               42.1       37.4     +12.8%       +13.1%
Central & Eastern Europe      42.8       37.1     +15.5%       +15.3%
Southern Europe               35.1       35.2      -0.2%        -0.6%
North America                 28.9       26.4      +9.6%        +3.5%
Africa & Middle East          17.3       21.7     -19.9%       -15.7%
Asia-Pacific (excl. China)    13.5       12.9      +4.5%        +3.4%
Central & South America        5.4        5.5      -0.4%        +7.0%
China                          3.8        3.7      +3.6%        +3.1%
Total                        332.0      315.4      +5.3%        +5.1%

Note: the sales figures provided are calculated based on customer location.

Reconciliation of changes in first half-year sales on a like-for-like basis and
restated basis

Change on a like-for-like basis             +4.7%
Forex impact                                +0.2%
Scope impact                                  -
Change on a restated basis                  +4.9%

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SOMFY SA (EPA:SO) - Somfy / Sales for the first half of the financial year 2019

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