SOMFY_ANNUAL_FINANCIAL_REPORT_2017
07 CONSOLIDATED FINANCIAL STATEMENTS
Gross obligation
Plan assets Net obligation Balance sheet position
€ thousands
At 31 December 2015
19,910
–15,258
4,652
4,652
882
Net expense for the period:
1,299 1,299
–417
882
Current service cost and financial cost –
–
1,299 –417
1,299 –417
Return on plan assets – Employee contributions –
– – –
–417
–
–
–
–28
Contributions paid
–28 258 378
–28
–234
Benefits paid
–492 –220
–234
158
Actuarial gains and losses
158
43
Changes in foreign exchange rates Changes in consolidation scope
527
–484
43
–634 4,839
–634
–
–634 4,839
AT 31 DECEMBER 2016
20,390
–15,551
LONG SERVICE AND JUBILEE AWARDS
31/12/16
Cost
Benefits paid
Changes in consolidation scope and foreign exchange rates
31/12/17
€ thousands
2,282
Actuarial liabilities
2,172
173
–47
–16
31/12/15
Cost
Benefits paid
Changes in consolidation scope and foreign exchange rates
31/12/16
€ thousands
2,172
Actuarial liabilities
2,082
122
–48
16
TFR – TRATTAMENTO DI FINE RAPPORTO (ITALIAN SEVERANCE PAY PROVISION)
31/12/16
Cost
Benefits paid
Changes in consolidation scope
31/12/17
€ thousands
2,149
Liabilities
2,261
1,122
–1,233
–1
31/12/15
Cost
Benefits paid
Changes in consolidation scope
31/12/16
€ thousands
2,261
Liabilities
2,085
971
–785
–10
Defined benefit plans on the income statement had a positive impact of €0.5 million on net profit in 2017. The main actuarial assumptions used are as follows: At 31 December 2017
2016
Discount rate France
1.5% 1.5% 4.0%
1.5% 1.5% 4.0%
Germany
United States
Other
1.0–4.5%
1.0–4.0%
Future salary increases France
2.1–2.3%
2.0–2.3%
Germany
0.0% 2.0%
0.0% 2.0%
United States
Other 1.0–10.0% The sensitivity of the gross retirement benefit commitment based on a variation of +0.5%/–0.5% in discount rate is –6.40%/+7.05%, respectively. 1.0–3.5%
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SOMFY – ANNUAL FINANCIAL REPORT 2017
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