SOMFY - Half-Year Financial Report 2019

2019 CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS 02

PROPERTY, PLANT AND EQUIPMENT NOTE 7.3 The application of IFRS 16 “Leases” from 1 January 2019 and its impact are detailed in notes 3.3.1 and 1.1.

Leases are recognised in the balance sheet with effect from their start date at the present value of future payments based on the lessee’s marginal borrowing rate at the date of the lease agreement. This is the rate of interest the lessee would have to pay to borrow the funds needed to acquire the asset over a similar term and in a similar economic environment. Leases are recognised under “lease liabilities”, with a corresponding entry on the asset side under “rights of use in relation to leases”, with each item stated in the relevant category of underlying asset. PPE financed through leases are depreciated over the same periods as PPE acquired outright where the Group expects to gain ownership of the asset at the expiry of the contract. If not, the asset is depreciated on the basis of the shorter period of the asset useful life and the duration of the lease. In the income statement, depreciation is recognised within the operating margin and interest expenses in net financial income/(expense). The tax impact of this consolidation restatement is taken into account through the recognition of deferred taxes. Leases corresponding to assets of low unit value and those whose term is short are recognised directly in operating expenses.

Land Buildings

Rights to use land and buildings

Plant, machinery and tools

Rights to use plant, machinery and tools

Other property, plant and equipment

Rights to use other property, plant and equipment

In progress and advance payments

Total

€ thousands

Gross value at 1 January 2019

— 22,187 551,726

22,710 161,468

— 278,180

— 67,182

Impact of the application of IFRS 16 from 1 January 2019

42,105

— — 34,523

—

420

— 7,162

—

32,736 -4,932

Acquisitions

— 356 — -86

11,933

2,883 -2,541

251

1,784 -2,218

1,895 13,634

Disposals

-23

-5

-58

—

Impact of changes in foreign exchange rates Impact of changes in consolidation scope and method Other movements AT 30 JUNE 2019 Accumulated depreciation at 1 January 2019 Depreciation charge for the period Impact of changes in foreign exchange rates Impact of changes in consolidation scope and method Other movements Disposals

1,161

75

267

136

431

— 192

1

58

—

— —

—

—

— —

— —

-73

-6,537 -15,784 16,248 146,222

23,305

7,996

6

1,065

104 -10,229

69,874 286,949

672 68,006

9,103 25,649 622,723

— — -307,828

-965 -83,380

— -176,376

— -47,106

— -22,818

-126 -2,686

-4,545

-9,841

-112

-3,287

-2,221

4,730

— 78

23

2,470

5

2,111

43

—

-341

-9

-57

11

-171

— -116

1

—

—

— —

—

—

— —

— —

14

— 8,167

-8,150

46

-6

-4

-39

—

AT 30 JUNE 2019 NET VALUE AT 30 JUNE 2019

-1,100 -77,878

-12,662 -183,872

-113 -48,402

-2,215

— -326,243

15,148 68,343

57,213 103,077

559 19,603

6,888 25,649 296,480

23

SOMFY – HALF-YEAR FINANCIAL REPORT 2019