SOMFY - Annual financial report 2018

08 PARENT COMPANY FINANCIAL STATEMENTS

MARKET VALUE OF DERIVATIVES NOTE 15 — FOREIGN EXCHANGE RISKS NOTE 15.1

The Group’s exposure to foreign exchange risk is primarily related to its operational activities (intragroup sales of manufactured products distributed by commercial subsidiaries outside the Euro zone, these sales being denominated in local currencies, and purchases denominated in local currencies). Subsidiaries’ hedges in these areas are made through the parent company Somfy SA. Commercial transactions are covered for a period of less than 12 months. The main hedging instruments usually used by the company are forward purchases and sales.

Foreign exchange hedges by currency

Contract nominal value

31/12/18 € thousands

Sales 4,501 2,179 6,300

Purchases

Net total

Fair value

4,501 1,858 6,300

AUD CAD CHF CNY GBP HKD HUF MXN NOK PLN RON RUB SEK SGD THB TRY USD ILS JPY

–

68 43

-320

–

-85 127

-11,936

–

-11,936

4,886

4,886 1,282

–

16

803 623

-480

-21

623

– – – – – – – – – –

-6

4,421 3,689

4,421 3,689

63

-99 -11

515

515

2,553 5,277

2,553 5,277

56

-35

708

708

-8 -2

1,143 1,950

1,143 1,950

-73 -20 -11

720 518

720

3,838 1,485

-3,320

1,485 -1,790 28,225

–

-125

830

-2,620

74

46,901

-18,676

-49

137

SOMFY – ANNUAL FINANCIAL REPORT 2018