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Somfy / Financial statement for the first nine months of FY 2011

Jeudi 20 Oct 2011 à 18:30



PR Newswire/Les Echos/

October 20th, 2011

Press Release

Financial statement for the first nine months of FY 2011

Consolidated sales in EURmillion 2011 2010 Change
First quarter 226.9 193.6 +17.2%
Second quarter 274.3 246.3 +11.4%
Third quarter 229.1 212.2 +8.0%
Nine months 730.3 652.1 +12.0%

NB: Sales of the Chinese company Ningbo Dooya are included from January 1st
2011.

Sales

Group sales for the company reached EUR730.3M for the first nine months of the
year(1). This represents a growth of 12.0% in real terms (+6.1% on like for
like) with +8.0% in quarter 3, a significant slowdown in growth (+0.7% on like
for like).

Somfy Activities

Somfy Activities sales came to EUR645.6M over the period, an increase of 12.8%
in real terms (+6.0% on like for like), with 8.6% in quarter 3 (+0.4% on like
for like).

On like for like, all the main geographic areas slowed over the last months and
some even went backwards (Northern Europe, Asia Pacific) due to declining
market conditions.

Several areas closed the full period in strong positive trend, particularly
Germany (+12.8% on like for like), Eastern and Central Europe (+12.4% on like
for like), France (+7.4% on like for like) and America (+6.0% on like for
like).

Other areas closed with only minor increases. This was the case in Northern
Europe and Southern Europe(2) (respectively +0.6% and +0.9% on like for like),
impacted by difficult local economic situations, and Asia Pacific (+2.1% on
like for like), still suffering from the natural disasters that hit the region
earlier in the year.

(1) The difference between group sales and the sum of sales for Somfy
Activities and Somfy Participations corresponds to sales MADE between Somfy
Activities and Somfy Participations.

(2) Africa and the Middle East are consolidated with Southern Europe.

Somfy Participations

Sales for Somfy Participations came to EUR86.9M for the first nine months, up
by 7.2% in real terms (+7.4% on like for like) with 3.8% growth in quarter 3
(+4.1% on like for like).

The three fully integrated companies, Sirem, Zurflüh Feller and Cotherm, all
grew. The first doing particularly well (+13.3% on like for like), while the
other two also posted gains over the period (respectively +6.9% and +3.3% on
like for like).

For equity affiliate companies, the biggest one, Ciat, continued to make good
progress (+9.4% on like for like), while Gaviota-Simbac, on the other hand,
fell over the last months closing the period almost unchanged (+0.9% on like
for like).

Actions identified at the start of the year, aimed at strengthening Somfy
Activities' leadership positions, have been continued throughout this last
quarter.

Investments have been maintained and have been channelled largely towards
extending the range and reinforcing sales forces and marketing expenses, with
priority given to emerging markets.

Somfy Participations has been focusing on developing and improving processes in
all companies in the portfolio.

Company profile

Somfy is organised into two separate branches: Somfy Activities is dedicated to
the business of automating openings and closures in residential and commercial
buildings; Somfy Participations is dedicated to investing and participating in
industrial companies from other sectors.

Contacts

Somfy: Eric Blanchard (Chie f Financial Officer) - Tel: 00 33 450 404 849
Somfy: Jean-Michel Jaud (Director of Communications) - Tel: 00 33 450 967 065
Shan: François-Xavier Dupont - Tel: 00 33 144 505 874

Agenda

Announcement of full year sales: January 19th 2012

www.somfyfinance.com

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