SOMFY - Annual financial report 2018

08 PARENT COMPANY FINANCIAL STATEMENTS

INTEREST RATE HEDGES

SALES BREAKDOWN NOTE 1.1

Somfy SA has been applying the new ANC 2015-05 regulation relating to forward financial instruments and hedging transactions since 1 January 2017. In the context of relationships qualifying as hedges, the company recognises the impacts of the hedging instrument on the income statement on a symmetric basis, together with the income or expense related to the hedged item, irrespective of the market in which the hedging instruments are traded. In the case of isolated open positions, the company records changes in the value of derivatives on the balance sheet and provisions are recognised for unrealised losses on these derivatives. At 31 December 2018, all financial instruments entered into by the company qualified as hedging instruments. E - CONSOLIDATING ENTITY — Somfy SA is a 52.65%-subsidiary of the company J.P.J.S. which is the consolidating parent company. F - NOTES TO THE PARENT COMPANY FINANCIAL STATEMENTS AT 31 DECEMBER 2018 —

€ thousands France

1,926 1,058

European Union

Non-EU

428

TOTAL

3,412

DIRECTORS’ REMUNERATION NOTE 1.2

€ thousands Remuneration allotted to members of the Management Board – to members of the Supervisory Board –

899 149 N/A

Pension commitments subscribed

WORKFORCE AT 31 DECEMBER 2018 NOTE 1.3

Male

Female

Total

Managers & executives

8

2

10

NOTE 1 OPERATING ITEMS —

The average workforce of Somfy SA went from four people in 2017 to six in 2018.

Somfy SA sales for the year to 31 December 2018 were €3.4 million, an increase compared with the previous year. The operating loss was €7.6 million, compared with a loss of €7.5 million in 2017.

FINANCIAL ITEMS NOTE 2 —

The net financial income of the Somfy SA holding company was €101.4 million, compared with €89.1 million in 2017, an increase of €12.3 million. Dividends received increased by €13.1 million and the foreign exchange difference fell by €2.3 million.

EXCEPTIONAL ITEMS NOTE 3 —

Net exceptional income was €0 thousand compared with a loss of €55 thousand in 2017. In 2017, it was entirely comprised of a provision for liabilities and charges.

130

SOMFY – ANNUAL FINANCIAL REPORT 2018