SOMFY - Half-Year Financial Report 2019

2019 CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS 02

INVESTMENTS IN ASSOCIATES AND JOINT VENTURES, AND RELATED PARTIES NOTE 14 — INVESTMENTS IN ASSOCIATES AND JOINT VENTURES NOTE 14.1

€ thousands

30/06/19

31/12/18

Investments in associates at the beginning of the year

132,781

425

Changes in consolidation scope and method Share of profit/(loss) from associates

—

131,754

1,333

1,429

Dividends paid

—

—

Changes in foreign exchange rates

457

-827

Other

-358

—

INVESTMENTS IN ASSOCIATES AT THE END OF THE PERIOD of which Investments in associates and joint ventures

134,213 134,213

132,781 132,781

“Investments in associates and joint ventures” comprises investments in Dooya and Arve Finance.

Dooya’s performance over the first six months was as follows: € thousands

30/06/19

30/06/18

Income statement Sales

89,164

83,400 -5,626 -5,839

Current operating result

3,416 1,906

Net profit

RELATED PARTIES NOTE 14.2 Associates are companies over which the Group has a significant influence or exercises joint control, and which are consolidated using the equity method. Transactions with related parties are made on arm’s length terms. Group purchases from Dooya totalled €1.8 million over the six months to 30 June 2019, €6.5 million over the 12 months to 31 December 2018 and €4.0 million over the 6 months to 30 June 2018. Group trade payables with Dooya stood at €0.9 million at 30 June 2019,

€1.3 million at 31 December 2018 and €2.0 million at 30 June 2018. Transactions with other related parties involved negligible amounts.

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SOMFY – HALF-YEAR FINANCIAL REPORT 2019