PRESS

RELEASE

20 OCTOBER 2020

SALES

FOR THE FIRST NINE MONTHS OF 2020

Consolidated sales

2020

2019

(€ millions)

Real

Like-for-like

terms

First quarter

291.3

283.1

+2.9%

+2.8%

Second quarter

277.6

332.0

-16.4%

-15.7%

Third quarter

368.3

301.4

+22.2%

+24.2%

First nine months

937.2

916.5

+2.3%

+3.1%

Somfy announces an increase in sales over the first nine months of the financial year, the result of a strong upturn in business over the third quarter, and thereby revises upwards the full-year outlook previously communicated during the presentation of the half-year results.

SALES

Group sales totalled €937.2 million for the first nine months of the financial year, an increase of 2.3% (up 3.1% on a like-for-like basis) compared with the same period last year. They fell 7.5% over the first six months (down 7.2% on a like-for-like basis), due to the impact of the pandemic throughout March, April and May, and recorded an upturn of 22.2% in the third quarter (up 24.2% on a like-for-like basis).

Several regions ended the period on a positive - even very positive - note despite the circumstances. Such was the case for Eastern Europe and Central Europe, which confirmed their significant potential (respective growth of 25.1% and 9.3% on a like-for-like basis), as well as Northern Europe and North America, which both performed well (respective growth of 7.8% and 2.8% on a like-for-like basis).

The other regions were hit harder by the crisis, notably as a result of disruption of operations and stoppages caused by lockdown measures, but overall they displayed strong resilience. This was the case for the Africa & the Middle East region, France and Southern Europe (respectively recording a 0.1% increase and 3.8% and 5.1% declines on a like-for-like basis), as well as for Asia-Pacific and Latin America (down 6.7% and 7.0% on a like-for-like basis).

PRESS RELEASE

20 OCTOBER 2020

All regions recovered strongly in the third quarter - except for Asia-Pacific, which remained virtually stable (down 0.2% on a like-for-like basis) - and in this way made up for a lot of their springtime losses.

The most significant performances were recorded by Eastern and Northern Europe (respective growth of 34.5% and 32.0% on a like-for-like basis), as well as by Southern Europe, North America, Africa & the Middle East, and France (respective growth of 34.5%, 27.2%, 27.1% and 26.7% on a like-for-like basis), regions that had been amongst the hardest hit at the peak of the crisis and which have subsequently recovered with renewed strength.

Another positive is that the recovery seen in the third quarter is not based on just a few weeks, but on July, August and September as a whole (respective growth of 21.6%, 29.9% and 22.9% on a like-for-like basis), and follows what was already a significant improvement in June (growth of 19.9% on a like-for-like basis).

Sales of the equity-accounted Chinese subsidiary Dooya totalled €140.9 million over the first nine months of the financial year, an increase of 1.2% (up 3.2% on a like-for-like basis, comprising a drop of 3.8% over the first half-year and an increase of 14.9% over the third quarter). Sales fell 5.0% on a like-for-like basis in China, a country hit hard by the pandemic over the first half of the year, but grew in the rest of the World (up 9.7% on a like-for-like basis).

OUTLOOK

The recovery seen at the end of the first half-year continued during the third quarter with unexpected intensity and strength. For this reason the Group has reviewed its full-year outlook in spite of uncertainty as to how the situation will develop over the coming weeks, and anticipate a growth in sales of between 3 and 4% on a like-for-like basis and an increase of its current operating margin to around 18%, due to the combined effect of sales growth and exceptional and non-recurring cost savings following the measures taken at the start of the pandemic (temporary reduction in marketing, travel and consultancy expenditure).

CORPORATE PROFILE

Founded in France in 1969, and today operating in 58 countries, Somfy Group is the global leader in opening and closing automation for both residential and commercial buildings.

A pioneer in the connected home, the Group is constantly innovating to guarantee comfort, wellbeing and security in the home and is fully committed to promoting sustainable development.

For 50 years, Somfy has been using automation to improve living environments and has been committed to creating reliable and sustainable solutions, which help promote better living and wellbeing for all.

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

PRESS RELEASE

20 OCTOBER 2020

SHAREHOLDERS' AGENDA

Publication of full-year sales: 26 January 2021 (after close of trading)

PRESS RELEASE

20 OCTOBER 2020

APPENDICES

Geographical analysis of first quarter sales

Consolidated data

2020

2019

(€ millions)

Real terms

Like-for-like

Central Europe

59.7

53.3

+11.9%

+11.2%

of which Germany

48.7

43.7

+11.3%

+11.3%

Northern Europe

32.7

31.3

+4.3%

+4.5%

North America

26.4

24.3

+8.5%

+5.4%

Latin America

5.2

5.7

-9.8%

-1.1%

Total North & West

123.9

114.7

+8.0%

+7.5%

France

81.7

87.5

-6.7%

-6.7%

Southern Europe

26.6

29.6

-10.2%

-10.9%

Africa & the Middle East

16.0

14.5

+10.5%

+12.5%

Eastern Europe

28.1

20.8

+35.0%

+35.5%

Asia-Pacific

15.0

16.0

-6.1%

-5.2%

Total South & East

167.4

168.4

-0.6%

-0.4%

Group Total

291.3

283.1

+2.9%

+2.8%

Geographical analysis of second quarter sales

Consolidated data

2020

2019

(€ millions)

Real terms

Like-for-like

Central Europe

67.2

64.8

+3.8%

+3.1%

of which Germany

54.5

51.8

+5.3%

+5.3%

Northern Europe

37.8

42.1

-10.4%

-9.1%

North America

23.0

28.9

-20.5%

-21.8%

Latin America

3.0

5.4

-45.1%

-32.4%

Total North & West

131.0

141.2

-7.3%

-7.0%

France

66.4

91.3

-27.3%

-27.3%

Southern Europe

24.1

35.1

-31.3%

-31.6%

Africa & the Middle East

10.7

17.3

-38.1%

-35.3%

Eastern Europe

30.9

29.8

+3.8%

+8.7%

Asia-Pacific

14.5

17.2

-16.2%

-15.0%

Total South & East

146.6

190.8

-23.1%

-22.1%

Group Total

277.6

332.0

-16.4%

-15.7%

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Somfy SA published this content on 20 October 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 October 2020 15:49:02 UTC