Somfy : 2016 Full-year sales

PRESS
RELEASE

26 JANUARY 2017

2016 FULL-YEAR SALES

Consolidated sales (€ millions)	2016	2015	Change Real terms	Change Like-for-like
First quarter	265.5	247.1	+7.4%	+11.9%
Second quarter	322.0	300.7	+7.1%	+12.2%
Third quarter	276.7	265.0	+4.4%	+7.1%
Fourth quarter	267.5	248.4	+7.7%	+9.5%
Full year	1 131.7	1 061.1	+6.7%	+10.2%

Group sales totalled €1,131.7 million for the year just ended, an increase of 6.7% in real terms compared with the same period last year, despite material negative exchange rate and consolidation scope effects. Its growth was 10.2% on a like-for-like basis, including 12.1% in the first half-year and 8.2% in the second.

The growth seen over the second part of the financial year is all the more remarkable as it demonstrates an acceleration at the end of the period (up 7.1% and 9.5% respectively on a like-for-like basis in the third and fourth quarters), in spite of an increasingly unfavourable base effect as the half-year went on, and followed a particularly dynamic start to the year (up 11.9% and 12.2% respectively on a like-for-like basis in the first and second quarters).

Another source of satisfaction was that all activities and geographic regions posted growth for the second consecutive year.

The most noteworthy performances were achieved in America, Central and Eastern Europe, Asia-Pacific and Southern Europe (up 16.8%, 16.0%, 13.8% and 10.9% respectively on a like-for-like basis). They illustrate the vitality of the new territories, as seen in Poland, the Czech Republic, China, India, Turkey and the countries of the Levant, and they also testify to the recovery of historical markets such as the United States, Italy and the Iberian Peninsula.

Growth was lower, yet nonetheless very positive in Germany and France (up 7.2% and 6.9% respectively on a like-for-like basis over the financial year), as well as in Northern Europe (up 5.2% on a like-for-like basis), in spite of the decline in the United Kingdom.

The solid sales performance in each of these regions enabled the Group to maintain its operating margin at a similar level to the 15.6% achieved during the previous financial year even though investments were intensified over the second half of the year - particularly in the field of connected objects - as a result of both opportunities and the potential of the market.

/ Corporate profile

Somfy Group is the global leader in opening and closing automation for both residential and commercial buildings.

/ Contacts

Somfy
Pierre Ribeiro: [phone] / Emilie Mathelin: [phone]

Shan
François-Xavier Dupont: [phone] / Diane de Brisis: [phone]

/ Shareholders' agenda

2016 annual results: press release on 8 March 2017 (evening), information meeting on 9 March 2017 (morning)

The currency fluctuations recorded year-to-year reduced Group sales by €18.4 million during the 2016 financial year.

The companies that exited the consolidation scope contributed €19.0 million to Group sales during the 2015 financial year and the newly-acquired companies contributed €1.5 million to sales during the 2016 financial year.

Group sales grew by 0.8%, 4.7%, 8.2% and 9.3% respectively on a like-for-like basis over the first, second, third and fourth quarters of the 2015 financial year.

Germany, America, Asia Pacific, Central and Eastern Europe, Northern Europe, Southern Europe and France are all considered as autonomous geographic regions in the sales breakdown, due to their respective scopes and weightings.

Africa and the Middle-East are included in Southern Europe.

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