SOMFY SA (EPA:SO) - Somfy / Sales for the first quarter of 2019
Directive transparence : information réglementée Information financière du premier trimestre
18/04/2019 17:55
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PRESS RELEASE
18 APRIL 2019
FINANCIAL INFORMATION FOR THE FIRST QUARTER 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%
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 modes of
the Chinese subsidiary Dooya (exit from the full scope of 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.
SALES
Group sales for the first quarter totalled EUR283.1 million, a year-on-year
increase of 4.6% in real terms and 4.3% on a like-for-like basis. It reflects
contrasting trends in the various regions(1), as a result of marked differences
between the environments of some of these regions, and is in line with the
trend for the year just ended(2).
The most significant like-for-like growth was recorded in China (up 21.9%),
Northern Europe (up 19.6%), Central & Eastern Europe (up 16.2%) and Germany,
where the previous quarter's upturn continued (up 8.8%). This reflects the
momentum of countries such as Poland and the Czech Republic, as well as the
dynamism of historical markets such as Benelux, the UK and Scandinavia, notably
in the fields of interior protection and connected solutions.
(1) Africa & Middle East, Germany, Central & South America, North America,
Asia-Pacific, China, Central & Eastern Europe, Northern Europe, Southern
Europe, and France are the geographic regions used to analyse and monitor
sales. Their respective sales are calculated based on customer location and
therefore the destination of the sales.
(2) Group sales grew by 6.3%, 4.3%, 4.9% and 5.5% respectively on a
like-for-like basis over the first, second, third and fourth quarters of the
2018 financial year.
Growth was also recorded in Asia-Pacific (up 3.6%) and Central & South America
(up 3.2%), thanks to the healthy performances of Australia, India, Argentina
and Brazil, as well as in Southern Europe (up 2.1%).
Declines were however recorded in France (down 1.3%), as a result of an adverse
base effect essentially due to the change in the tax base related to the energy
transition tax credit at the start of 2018, as well as in North America (down
2.0%), where sales were impacted by adverse weather conditions and delayed
product launches. Africa & Middle East continued to suffer from challenging
market conditions in several countries, such as Lebanon and Turkey, as a result
of the local economic and political environment (down 8.3%).
ADDITIONAL INFORMATION
The sales(3) of the now equity-accounted Dooya totalled EUR42.1 million for the
first quarter, an increase of 32.7% in real terms and 30.4% on a like-for-like
basis. It reflected buoyant sales in China (up 14.7%) and, particularly, on
export markets (up 44.0%).
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
SHAREHOLDERS' AGENDA
Annual General Meeting: 22 May 2019, at the Company's registered office
Publication of half-year sales: 18 July 2019 after close of trading
(3) Sales generated with customers outside the Group.
APPENDIX
Geographical analysis of sales
Consolidated data 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%
Note: the sales figures provided are calculated based on customer location
Reconciliation of changes on a like-for-like basis and restated basis
Change on a like-for-like basis +4.3%
Forex impact +0.2%
Scope impact -
Change on a restated basis +4.6%