Somfy SA — Earnings Release 2021

Oct 19, 2021

SAIFS FOR THE FIRST NINE MONTHS OF 2021

Consolidated sales $(\epsilon$ millions)	2021	2020	Real terms	Like-for-like
First quarter	375.7	291.3	$+29.0%$	$+28.7%$
Second quarter	429.3	277.6	$+54.7%$	$+53.4%$
Third quarter	348.4	368.3	$-5.4%$	$-7.5%$
First nine months	1,153.4	937.2	$+23.1%$	$+21.8%$

Somfy reports sales growth for the first nine months of the year, driven by buoyant activity over the first six months, and despite a slight fall in the third quarter.

SALES

Group sales totalled $E1,153.4$ million for the first nine months of the financial year, an increase of 23.1% (up 21.8% on a like-for-like basis) compared with the same period last year and of 25.8% compared with 2019. Third quarter sales declined as anticipated and stood at €348.4 million, falling 5.4% (down 7.5% on a like-for-like basis) in relation to the same period of the previous year ( $\epsilon$ 368.3 million) but up in comparison with the third quarter of 2019 ( $\epsilon$ 301.4 million).

Over the quarter, the hardest hit regions were Northern Europe, Central Europe and France with sales falling 27.9%, 13.8% and 12.3% respectively on a like-for-like basis in relation to the previous third quarter, which was marked by a significant recovery as a result of the improved public health situation and a catch-up effect following lockdown measures. Despite this unfavourable base effect and supply chain and logistics pressures during the quarter, sales remained steady over the period.

Over the first nine months, all regions recorded growth compared with the previous financial year, driven by the first half-year momentum. The most significant performances came from North America, Latin America and Africa & the Middle East which all achieved growth of more than 30% over the period (up 38.0%, 44.7% and 50.9% respectively on a like-for-like basis).

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ŚĂŶŐĞ ŽŶ Ă ůŝŬĞͲĨŽƌͲůŝŬĞ ďĂƐŝƐ͗ ƚŚĞ ĐŚĂŶŐĞ ŽŶ Ă ůŝŬĞͲĨŽƌͲůŝŬĞ ďĂƐŝƐ ĐŽƌƌĞƐƉŽŶĚƐ ƚŽ ƚŚĞ ĐŚĂŶŐĞ Ăƚ ĐŽŶƐƚĂŶƚ ĐŽŶƐŽůŝĚĂƚŝŽŶŵĞƚŚŽĚ͕ĐŽŶƐŽůŝĚĂƚŝŽŶƐĐŽƉĞĂŶĚĞdžĐŚĂŶŐĞƌĂƚĞƐ͘

'ĞŽŐƌĂƉŚŝĐƌĞŐŝŽŶƐ͗ƚŚĞ'ƌŽƵƉŝƐŽƌŐĂŶŝƐĞĚŝŶƚŽƚǁŽŐĞŽŐƌĂƉŚŝĐĚŝǀŝƐŝŽŶƐ͕ƚŚĞĨŝƌƐƚŵĂĚĞƵƉŽĨĞŶƚƌĂůƵƌŽƉĞ͕ EŽƌƚŚĞƌŶƵƌŽƉĞ͕EŽƌƚŚŵĞƌŝĐĂĂŶĚ>ĂƚŝŶŵĞƌŝĐĂ;EŽƌƚŚΘtĞƐƚͿ͕ĂŶĚƚŚĞƐĞĐŽŶĚŵĂĚĞƵƉŽĨ&ƌĂŶĐĞ͕^ŽƵƚŚĞƌŶ ƵƌŽƉĞ͕ĨƌŝĐĂΘƚŚĞDŝĚĚůĞĂƐƚ͕ĂƐƚĞƌŶƵƌŽƉĞĂŶĚƐŝĂͲWĂĐŝĨŝĐ;^ŽƵƚŚΘĂƐƚͿ͘