SOMFY - Annual financial report 2018

08 PARENT COMPANY FINANCIAL STATEMENTS

TAX CONSOLIDATION NOTE 4.2

List of companies included in tax consolidation Somfy SA Parent company

The tax consolidation agreement signed between Somfy SA and its direct and indirect subsidiaries was renewed on 1 January 2013 for an indefinite period of time. In accordance with the agreement, the difference calculated between the income tax chargeable on the combined profits of the tax consolidation and the sum of the Group companies’ individual tax charges is credited to Somfy SA, the Group’s parent company. At 31 December 2018, tax savings resulting from the transfer of losses from subsidiaries are considered to be tax income. Should a subsidiary cease to be a member of the tax consolidation, it will be compensated by Somfy SA in accordance with a jointly-agreed exit methodology, taking account of the situation at that date.

Cluses Cluses

Somfy Activités SA

Simu CMC

Gray

Cluses Rumilly

Domis SA

Automatismes BFT France

Lyon

SEM-T

Cluses

Saint Laurent du Var

BFT Sud-Est

Opendoors

Cluses

Overkiz

Metz-Tessy

Currently there are no available Group tax losses to be used.

Somfy Protect by Myfox

Labège

NET PROFIT NOTE 5 — Net profit totalled €98.2 million.

NON-CURRENT ASSETS NOTE 6 — GROSS NON-CURRENT ASSETS NOTE 6.1

Gross value 31/12/17

Increase Decrease

Merger movements

Other movements

Gross value 31/12/18

€ thousands

Intangible assets

215

– –

– –

– – – – – – –

– –

215

Property, plant and equipment

2

2

Financial assets

446,382 402,180 27,639

8,067

-9,411 -3,751 -1,203

-3,303

441,734 398,156 33,629

Equity investments (1)

1

-274

Receivables from equity investments (2)

2,093 1,270 4,703

5,100

Other financial assets (3)

24

–

–

1,294 8,656

Bonds (4)

16,539

-4,457

-8,129

The decrease in equity investments is due to a €3,751 thousand capital reduction by DSG Coordination Center SA. (1) Other movements correspond to the capitalisation of €448 thousand in receivables from Somfy Maroc as well as an adjustment of -€722 thousand in the securities of Somfy Protect by Myfox (decrease of €9,722 thousand subsequent to the recalculation of the earnouts and increase of €9,000 thousand subsequent to a capitalisation in financial receivables (€8,000 thousand in bond loan and €1,000 thousand in current account)). Other movements in receivables from equity interests are related to the medium- and long-term reclassification of financial advances made to (2) certain subsidiaries.

The €1,270 thousand increase in other financial assets corresponds to an investment in a fund (FPCI). (3) Bond receivables fell by €4,457 thousand as a result of the reimbursement of 2018 instalments by Garen. (4) Other movements primarily relate to the capitalisation of the Somfy Protect by Myfox bond loan.

AMORTISATION AND DEPRECIATION NOTE 6.2

Amount at 31/12/17

Charges

Reversals

Merger movements

Other movements

Amount at 31/12/18

€ thousands

Intangible assets

214 214

– – – –

– – – –

– – – –

– – – –

214 214

Concessions, patents and licences Property, plant and equipment

2

2

216

216

132

SOMFY – ANNUAL FINANCIAL REPORT 2018