Somfy : 2018 Full-year sales

Group sales were €1,126.7 million for the financial year just ended, an increase of 3.4% after the restatements resulting from the change in the consolidation method of Dooya. They benefited from a negligible scope effect but suffered from a negative currency impact of €19.9 million.

The increase was 5.2% on a like-for-like basis, both over the full year and over each of the two six-month periods. It follows significant growth over the previous financial year¹ and reflects contrasting developments for the different regions, essentially due to local factors.

Central and Eastern Europe (up 12.3%), Northern Europe (up 10.7%), Central and South America (up 8.6%), Asia-Pacific (excluding China) (up 8.5%), France (up 4.7%), Southern Europe (up 4.4%) and Germany (up 3.7%) ended the period on positive notes on a like-for-like basis, and very positive for some, despite a high comparison basis.

These results reflect both the strong performance of historical markets, such as Benelux, France, the United Kingdom and Scandinavia, despite adverse weather conditions at the beginning of 2018, and the momentum of new markets, such as India, Indonesia, Poland, the Czech Republic, Hungary and Russia. They attest to the growing interest of consumers from different continents in motorised and connected solutions for the home and as such validate the Group's policy of innovation and international expansion.

However, growth was hampered on a like-for-like basis in North America (up 1.0%), particularly as a result of the restructuring of logistics at the main local trading partner, in Africa and the Middle East (down 2.4%), due to the instability of the economic and political environments, and in China (down 8.5%), due to tensions in the high-end segment of the market.

¹ Group sales after restatement of Dooya's share grew 9.2% on a like-for-like basis over the 2017 financial year.