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Somfy / Sales for financial year 2014

Jeudi 29 Jan 2015 à 10:00

PR Newswire/Les Echos/

Press release
28 January 2015

2014 Full-Year Sales

Consolidated sales
(EUR millions) 2014 2013(1) 2013 pro forma Like-for-like(2)
Reported Pro forma Reported change change
First quarter 235.3 206.7 227.0 +13.8% +11.8%
Second quarter 274.4 260.2 279.9 +5.4% +5.8%
Third quarter 243.5 235.7 252.3 +3.3% +2.2%
Fourth quarter 228.6 220.2 237.6 +3.8% -0.1%
Full year 981.7 922.8 996.8 +6.4% +4.8%

Note: The demerger of the Group 's two divisions, Somfy Activities and Somfy
Participations, announced in May and finalised in December 2014, has led to the
reclassification of the assets of Somfy Participations as assets held for sale,
pursuant to ifrs 5, and to their exit from the scope of consolidation with
retroactive effect from 1 January 2014. As such, the sales published by the
Group for 2014 equate the sales of Somfy Activities.

Group sales were EUR981.7 million for the full FINANCIAL year just ended, an
increase of 6.4% on a pro forma basis and 4.8% on a like-for-like basis.

An inflexion point was observed in the second half of the year due to the less
favourable impact of the base effect and more challenging market conditions in
several countries (up 2.2% and down 0.1% on a like-for-like basis in the third
and fourth quarters).

Nevertheless, strong increases were recorded in Central and Eastern Europe (up
14.1% on a like-for-like basis over the financial year, as well as in Southern
Europe(3) and Northern Europe (up 9.2% and 8.4% on a like-for-like basis); these
performances reflect the recovery of the Iberian Peninsula, the Benelux, the UK
and Scandinavia.

(1) The Group's pro forma sales for the 2013 financial year corresponds to sales
published by the Group less the contribution of Somfy Participations'
fully-consolidated subsidiaries (Sirem and Zurflüh-Feller) over the same 2013
financial year.

(2) Changes on a like for like basis corresponds to changes in sales on constant
scope of consolidation and foreign exchange rates over the 2013 and 2014
financial years (excluding Giga and Garen Automação).

(3) Africa and Middle-East sales are included in Southern Europe sales.

Significant increases were also recorded in Germany (up 5.8% on a like-for-like
basis over the financial year), in Asia-Pacific (up 5.0% on a like-for-like
basis), despite the slowdown of growth and the postponement of projects in
China, as well as in the Americas (up 2.2% on a like-for-like basis), in spite
of the dip noted during the year due to the deteriorated situation in Brazil and
high comparatives in the US.

Conversely, France ended the year on a negative note (down 2.1% on a
like-for-like basis over the financial year), as a result of the sluggish
economic environment and a weak property sector.

Corporate profile

Somfy Group is the global leader in opening and closing automation for both
residential and commercial buildings (gates, garages, curtains, blinds,
shutters, etc.).

Somfy: Pierre Ribeiro (+33 4 50 40 48 49) / Jean-Michel Jaud (+33 4 50 96 70 65)
Shan: François-Xavier Dupont (+33 1 44 50 58 74)

Next communication

Publication of annual results: evening of 4 March 2015 (press release)
Presentation of annual results: morning of 5 March 2015 (meeting)

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