Financial information for the first quarter of 2018

Group sales totalled €302.5 million for the first three months, an increase of 2.7% in real terms and 5.8% on a like-for-like basis. It takes into account a negative exchange rate effect of €9.4 million.

The slowdown seen in comparison with previous quarters was due to the high level of the comparison base¹ and above all to the downturn recorded at the end of the period, which was the result of a negative calendar effect in Europe and unfavourable business conditions in many countries (adverse weather conditions in Germany and Northern Europe, and economic and political instability in the Middle East, Argentina and Brazil).

As such, performances over the quarter varied according to region². They remained highly satisfactory in Central and Eastern Europe, France, North America, Asia-Pacific and China (up 15.4%, 11.9%, 10.9%, 10.5% and 8.2% respectively on a like-for-like basis). Conversely, they were impacted by the vagaries referred to above in Southern Europe, Central and South America, Germany, Northern Europe, and above all Africa and the Middle East (respectively up 2.1%, 1.8%, 1.7%, and down 0.8% and 14.7% on a like-for-like basis).

The latest innovations have proved highly successful, notably at the two major international shows in which the Group took part, namely the CES trade fair in Las Vegas and R+T in Stuttgart.

The quarter was also marked by currency fluctuations which impacted both business, as mentioned above, and to a lesser extent operating margin, as a result of the continued appreciation of the euro against other major currencies in recent times.

Somfy is the global leader in opening and closing automation for both residential and commercial buildings, and a key player in the connected home.

• Somfy: Pierre Ribeiro: +33 (0)4 50 40 48 49 / Emilie Mathelin: +33 (0)4 50 96 71 01
• Shan: François-Xavier Dupont: +33 (0)1 44 50 58 74 / Diane de Brisis: +33 (0)1 47 03 47 36