SOMFY SA (EPA:SO) - Somfy / Sales for the financial year 2019
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23/01/2020 17:45
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PRESS RELEASE
23 JANUARY 2020
2019 FULL-YEAR SALES
Consolidated sales 2019 2018 Var. Var.
(EUR millions) Real Real Real Like-for-like
terms terms terms
First quarter 283.1 270.7* +4.6% +4.3%
Second quarter 332.0 315.4 +5.3% +5.1%
Third quarter 301.4 273.0 +10.4% +9.5%
Fourth quarter 283.7 267.5 +6.1% +5.5%
Full year 1,200.2 1,126.7 +6.5% +6.1%
* 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 changes 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).
Group sales posted an increase of 6.5% in real terms over the financial year
just ended, standing at EUR1,200.2 million, an amount that reflects a slightly
positive forex impact of EUR4.9 million.
Sales increased by 6.1% on a like-for-like basis, including 4.7% in the first
half-year and 7.5% in the second. This follows several years of steady
growth(1) and reflects advances within all operational regions, with the
exception of Africa & the Middle East, for contextual reasons.
These performances reflect the growing interest of all types of customers in
motorised and connected solutions for the home, as well as the success of the
many partnerships and products recently launched by the Group, and vindicate
the policy of innovation and digitalisation and the strategy of international
expansion implemented over the years.
(1) Group sales, after restatement of Dooya's share, grew 9.2% on a
like-for-like basis in 2017, and 5.2% in 2018 on the same basis.
The most noteworthy growth(2) was recorded in Central & Eastern Europe (up
15.3%), as a result of excellent performances in Poland, Hungary and the Czech
Republic, as well as Northern Europe (up 12.1%) despite a decline over the last
quarter, primarily due to an unfavourable base effect.
Significant increases were also posted in China (up 6.8%), France (up 5.2%) and
Germany (up 4.6%), despite a negative calendar effect at the end of the year,
as well as in Central & South America (up 6.7%) and North America (up 4.5%),
thanks to a sharp upturn over the last quarter, particularly in Brazil and the
United States. Growth was however more modest in Asia-Pacific (up 3.0%
excluding China) and Southern Europe (up 1.7%).
In contrast, the trend remained negative in Africa & the Middle East (down
2.5%), although it improved significantly over the second half-year, due in
particular to the recovery seen in the Persian Gulf countries and Turkey.
Sales of the now equity-accounted Dooya totalled EUR187.5 million over the
financial year, an increase of 9.3% in real terms and 8.2% on a like-for-like
basis. This reflects the resilience of business in China (up 9.9%), in view of
the local environment, and continued strong Export growth (up 6.7%).
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 results: press release on 4 March 2020 (after close of trading) and
presentation on 5 March 2020
Annual Financial Report: 16 April 2020 (after close of trading)
www.somfyfinance.com
(2) Figures in brackets following the names of geographic regions indicate
changes on a like-for-like basis for the year to end December. They are
calculated based on customer location.
APPENDICES
Analysis of full-year sales
Consolidated sales 2019 2018 Var. Var.
(EUR millions) Real Real Real Like-for-like
terms terms terms
France 341.5 324.5 +5.3% +5.2%
Germany 186.5 178.3 +4.6% +4.6%
Central & Eastern
Europe 152.3 131.5 +15.8% +15.3%
Northern Europe 134.9 120.5 +12.0% +12.1%
Southern Europe 121.9 119.2 +2.3% +1.7%
North America 103.0 93.6 +10.0% +4.5%
Africa & the Middle
East 64.2 67.2 -4.4% -2.5%
Asia-Pacific
(excl. China) 57.6 54.8 +5.0% +3.0%
Central & South
America 23.3 23.3 +0.3% +6.7%
China 14.9 13.7 +8.6% +6.8%
Total 1,200.2 1,126.7 +6.5% +6.1%
Analysis of 4th quarter sales
onsolidated sales 2019 2018 Var. Var.
(EUR millions) Real Real Real Like-for-like
terms terms terms
France 83.5 79.3 +5.4% +5.3%
Germany 40.0 40.9 -2.3% -2.3%
Central & Eastern
Europe 36.4 32.5 +12.0% +10.7%
Northern Europe 27.7 26.6 +4.1% +3.6%
Southern Europe 29.4 28.2 +4.0% +3.1%
North America 23.1 19.4 +19.2% +15.9%
Africa & the Middle
East 16.3 14.8 +10.6% +10.7%
Asia-Pacific
(excl. China) 16.6 15.8 +5.7% +3.5%
Central & South America 6.6 5.8 +13.7% +21.3%
China 4.1 4.3 -5.3% -7.0%
Total 283.7 267.5 +6.1% +5.5%
Reconciliation of changes on a like-for-like basis and on real terms -
full-year sales
Change on a like-for-like basis +6.1%
Forex impact +0.4%
Scope impact -
Change in real terms +6.5%
GLOSSARY
Sales
The sales figures provided refer to the sales amounts generated with customers
outside the Group. They are calculated based on customer location and therefore
the destination of the sales.
Change in real terms
The change in real terms corresponds to the change on an actual consolidation
scope and exchange rate basis.
Change on a like-for-like basis
The change on a like-for-like basis corresponds to the change at constant
consolidation method, consolidation scope and exchange rates.
Geographic regions
Africa & the 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.