Group sales for the first quarter totalled €283.1 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.  

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%).

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Somfy SA published this content on 18 April 2019 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 18 April 2019 15:47:03 UTC