SOMFY reports sales growth over the 2022 financial year, despite a fourth quarter marked by the continued slowdown in business that began in the second quarter.

Group sales were €1,532 million for the year, an increase of 3.7% compared with the previous financial year (up 1.6% on a like-for-like basis). Business activity over the second half-year confirmed the slowdown recorded since the second quarter of 2022, with sales of €686 million, up 1.9% compared with the previous financial year (down 1.6% on a like-for-like basis), despite the delivery backlog having been cleared. It should be noted that Teleco Automation sales have been consolidated into the Group’s financial statements since 1 July 2022, with the consolidated portion standing at €18 million.

During the 2022 financial year, the Latin America, Africa & the Middle East and Asia-Pacific regions posted significant growth (up 22.0%, 21.1% and 8.5% respectively on a like-for-like basis), demonstrating the benefits of the Group’s international footprint. Eastern Europe, Northern Europe and Central Europe were more severely affected by economic and geopolitical tensions, and thus reported declines (down 2.6%, 1.8% and 1.3% respectively on a like-for-like basis, including Germany which was down 3.0%). France and North America remained stable (up 0.0% and 1.4% respectively on a like-for-like basis), reflecting the strength of the Group’s fundamentals and positive structural trends in the residential market.

Sales of the equity-accounted Chinese subsidiary Dooya totalled €297 million over the financial year, an increase of 7.6% in real terms (down 0.2% on a like-for-like basis, including an increase of 22.4% over the first half-year and a decline of 17.1% over the second). Sales declined in China (down 2.3% on a like-for-like basis), due to current market conditions in the country, notably concerning the management of the pandemic which continued throughout the year and impacted business, and were stable in the Rest of the World (up 1.3% on a like-for-like basis).

The Group continued to roll out its roadmap whilst simultaneously monitoring the economic environment, which remained very uncertain given macro-economic and geopolitical tensions and the slowdown in the global economy.

As announced in its press release dated 13 January 2023, the Despature family group, SOMFY’s principal shareholder, has crossed the threshold allowing the implementation of a squeeze-out and will make such a request to the AMF.

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 help promote better living and well-being for all.

• SOMFY: Carole Laou Sio Hoï: +33 (0)6 24 39 54 25
• Shan: Aliénor Kuentz: +33 (0)6 28 81 30 83 / Aurore Cantot: +33 (0)6 09 96 00 70

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).