Somfy / Financial information for the first nine months of the 2013 financial year

PR Newswire/Les Echos/ Press Release 22 October 2013 Financial information for the first nine months of the 2013 financial year Consolidated sales (EUR millions) 2013 2012 Change in Change on a real terms like-for-like basis First quarter 227.0 236.3 -4.0% -0.5% Second quarter 279.9 277.6 +0.8% +2.9% Third quarter 252.3 246.8 +2.2% +5.8% First nine months 759.2 760.7 -0.2% +2.7% Note: Cotherm was excluded from the scope of consolidation in October 2012 and Giga was included in April 2013. Their sales have been excluded from changes on a like-for-like basis. Sales Group sales(1) were EUR759.2 million for the first nine months of the financial year, a 0.2% decline in real terms and an increase of 2.7% on a like-for-like basis. Somfy Activities Somfy Activities' contribution totalled EUR702.6 million over the first nine months and EUR235.7 million over the last three months, an increase of 3.6% and 5.9% in real terms and of 3.5% and 6.3% on a like-for-like basis, respectively. In the third quarter, all regions reported growth on a like-for-like basis, with several of them ending the period on a significantly positive note. This observation was especially true for the Americas, Asia-Pacific and Central and Eastern Europe (up 8.6%, 6.8% and 3.9% respectively on a like-for-like basis to the end of September, including growth of 11.0%, 3.1% and 4.6% over the third quarter). France and Germany also performed well, in particular during the summer months during which they accelerated sharply (up 3.5% and 3.1% respectively on a like-for-like basis to the end of September, including growth of 8.8% and 7.4% over the third quarter). (1) The difference between Group sales and the total of both Somfy Activities' and Somfy Participations' sales is due to intragroup sales between Somfy Activities and Somfy Participations. Northern Europe returned to growth in the spring but posted a decline over the period due to the fall recorded at the beginning of the financial year, caused by adverse weather conditions (down 1.1% on a like-for-like basis to the end of September, with growth of 2.9% over the third quarter). Southern Europe(2) achieved growth over the period despite the climate remaining challenging in a number of countries (up 1.8% on a like-for-like basis to the end of September, including 4.4% over the third quarter). This improvement was due to the stabilisation of Italy and the good performance of Africa and the Middle East. Somfy Participations Somfy Participations' contribution totalled EUR59.2 million over the first nine months and EUR17.6 million over the last three months, respective declines of 30.3% and 29.9% in real terms and 5.2% and 0.3% on a like-for-like basis. The decline was attributable to Cotherm's exit from the consolidation scope and, to a lesser extent, to the fall in sales at Zurflüh-Feller and Sirem (down 3.6% and 9.3% respectively, on a like-for-like basis, to the end of September, including growth of 0.4% and a decline of 2.3% in the third quarter). Equity-accounted companies reported more mixed performances. Pellenc and Gaviota-Simbac achieved significant growth (up 11.2% and +3.1% respectively, on a like-for-like basis, to the end of September, including growth of 15.0% and 10.1% over the third quarter). Ciat's sales decreased (down 7.1% on a like-for-like basis to the end of September, including a decline of 4.8% over the third quarter), but saw its order book recover significantly over the last few months. Other information Actions previously undertaken to adjust costs and optimise processes continued during the quarter just ended, within the two divisions, to maintain the Group's competitiveness and profitability. The results for the period ended at the end of September will be in line with the trend seen over the early part of the year. Likewise, the financial position remains sound. Corporate profile The Somfy Group is structured as two separate branches: Somfy Activities, which is dedicated to the automation and control of openings and closures in residential and commercial buildings (blinds, shutters, curtains, screens, doors, gates, etc.); and Somfy Participations, which is dedicated to investments and equity shareholdings in industrial companies operating in other business sectors. In 2012, the Group generated net sales of EUR989.6 million and reported a current operating result of EUR132.2 million and a net profit of EUR84.4 million. (2) Africa and the Middle East are included in Southern Europe. Contacts Somfy: Pierre Ribeiro (Chief Financial Officer) - Tel: + 33 4 50 40 48 49 / Jean-Michel Jaud (Communication Director) - Tel: + 33 4 50 96 70 65 Shan: François-Xavier Dupont - Tel: + 33 1 44 50 58 74 Shareholders' agenda Publication of annual sales: 28 January 2014 www.somfyfinance.com The content and accuracy of news releases published on this site and/or distributed by PR Newswire or its partners are the sole responsibility of the originating company or organisation. Whilst every effort is made to ensure the accuracy of our services, such releases are not actively monitored or reviewed by PR Newswire or its partners and under no circumstances shall PR Newswire or its partners be liable for any loss or damage resulting from the use of such information. All information should be checked prior to publication.