PRESS RELEASE
21 APRIL 2022
SALES FOR THE FIRST QUARTER OF THE 2022 FINANCIAL YEAR
Consolidated sales | 2022 | 2021 | | |
(€ millions) | Real terms | Like‐for‐like1 | ||
First quarter | 412 | 376 | +9.7% | +9.2% |
Somfy announces growth in sales over the first quarter, reflecting the continued momentum in the early part of the year despite ongoing supply chain pressures and the geopolitical and economic climate.
SALES
Group sales totalled €412 million for the first three months of the financial year, a year‐on‐ year increase of 9.7% in real terms and 9.2% on a like‐for‐like basis.
This performance demonstrates the soundness of the Group's fundamentals and the strong growth trends in the renovation sector, driven by the role of the home as a safe investment and growing awareness of the issue of energy savings.
All geographic regions closed the quarter up year‐on‐year on a like‐for‐like basis. Performance was particularly strong in Eastern Europe and Southern Europe (up 25.9% and 22.7% respectively on a like‐for‐like basis).
The sales of Dooya, an equity‐accounted subsidiary, were €79.6 million for the quarter, a significant increase of 44.8% in real terms and 32.1% on a like‐for‐like basis. It posted strong growth in China (up 32.3% on a like‐for‐like basis) - despite another period marked by lockdowns due to the resurgence of the Covid‐19 pandemic - as did the rest of the world (up 32.1% on a like‐for‐like basis).
1 It should be noted that Répar'stores has been integrated in the Group's financial statements since 1 January 2021.
OUTLOOK
Based on sound fundamentals, the Group is maintaining its roadmap of strategic investments.
Nevertheless, the economic and geopolitical environment could impact the global economy.
This increased level of uncertainty calls for close scrutiny of economic trends along with caution over the coming months. Should it continue, the acceleration in the increase in raw material prices could lead the Group to adjust its own prices upwards. Somfy is fully mobilised to tackle these ongoing pressures in the supply chain and is implementing the necessary measures to limit their impact for customers.
OTHER INFORMATION
Somfy's acquisition of a 6.33% stake in the share capital of Elcia took effect on 14 April 2022 following fulfilment of the usual conditions precedent.
CORPORATE PROFILE
Founded in 1969 in France, and now operating in 59 countries, Somfy is the world leader in window and door automation for homes and buildings. Pioneer in the connected home, the Group is constantly innovating to guarantee its users comfort, well‐being, and security in the home and is fully committed to promoting sustainable development. For more than 50 years, Somfy has been using automation to improve living environments and has been committed to creating reliable and sustainable solutions that promote better living and well‐being for all.
CONTACTS
Somfy: Pierre Ribeiro: +33 (0)4 50 40 48 49
Shan: Alexandre Daudin: +33 (0)1 44 50 51 76 / Aliénor Kuentz: +33(0)1 42 86 82 45
SHAREHOLDERS' AGENDA
Annual General Meeting: 1 June 2022, at the Company's registered office Publication of half‐year sales: 21 July 2022 (after close of trading)
APPENDICES
Geographical analysis of first quarter sales
Consolidated data | 2022 | 2021 | | |
(€ millions) | Real terms | Like‐for‐like | ||
Central Europe | 69.6 | 68.1 | +2.2% | +1.6% |
of which Germany | 55.2 | 56.4 | ‐2.1% | ‐2.1% |
Northern Europe | 48.5 | 46.3 | +4.7% | +3.5% |
North America | 38.5 | 32.2 | +19.6% | +11.4% |
Latin America | 6.4 | 5.5 | +16.2% | +14.0% |
Total North & West | 163.0 | 152.1 | +7.1% | +4.7% |
France | 121.7 | 114.5 | +6.2% | +6.2% |
Southern Europe | 42.6 | 34.5 | +23.6% | +22.7% |
Africa & the Middle East | 23.7 | 23.8 | ‐0.3% | +11.2% |
Eastern Europe | 40.4 | 32.1 | +26.0% | +25.9% |
Asia‐Pacific | 20.6 | 18.8 | +10.0% | +8.2% |
Total South & East | 249.0 | 223.6 | +11.4% | +12.3% |
Group Total | 412.0 | 375.7 | +9.7% | +9.2% |
Reconciliation of changes in sales for the first quarter on a like‐for‐like basis and in real terms
Change on a like‐for‐like basis | +9.2% |
Forex impact | +0.5% |
Scope impact | ‐ |
Change in real terms | +9.7% |
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
The Group is organised into two geographic divisions, the first made up of Central Europe, Northern Europe, North America and Latin America (North & West), and the second made up of France, Southern Europe, Africa & the Middle East, Eastern Europe and Asia‐Pacific (South & East).
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Disclaimer
Somfy SA published this content on 21 April 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 April 2022 15:44:07 UTC.