SOMFY_ANNUAL_FINANCIAL_REPORT_2017

08 PARENT COMPANY FINANCIAL STATEMENTS

INTEREST RATE HEDGES

SALES BREAKDOWN NOTE 1.1

Somfy SA has been applying the new ANC 2015-05 Regulation relating to forward financial instruments and hedging transactions since 1 January 2017. The initial application of this new regulation, which represents a change in accounting method, had no impact on Somfy SA's financial statements given the nature of the hedging instruments implemented at the end of December 2016. In the context of relationships qualifying as hedges, the company recognises the impacts of the hedging instrument on the income statement on a symmetric basis, together with the income or expense related to the hedged item, irrespective of the market in which the hedging instruments are traded. In the case of isolated open positions, the company records changes in the value of derivatives on the balance sheet and provisions are recognised for unrealised losses on these derivatives. At 31 December 2017, all financial instruments entered into by the company qualified as hedging instruments. E – CONSOLIDATING ENTITY — Somfy SA is a 52.65%-subsidiary of the company J.P.J.S. which is the consolidating parent company. F – NOTES TO THE PARENT COMPANY FINANCIAL STATEMENTS AT 31 DECEMBER 2017 — OPERATING ITEMS NOTE 1 — Somfy SA sales for the year to 31 December 2017 were €3.2 million, reflecting growth compared with the previous year. The operating loss was €7.5 million, compared with a loss of €7.2 million in 2016.

€ thousands France

1,792

European Union

971 471

Non-EU

TOTAL

3,234

DIRECTORS’ REMUNERATION NOTE 1.2

€ thousands Remuneration allotted to members of the Management Board – to members of the Supervisory Board –

558 150 N/A

Pension commitments subscribed

WORKFORCE AT 31 DECEMBER 2017 NOTE 1.3

Male Female

Total

Managers & executives

3

1

4

FINANCIAL ITEMS NOTE 2 —

The net financial income of the Somfy SA holding company was €89.1 million, compared with €127.0 million in 2016, a decline of €37.9 million. Dividends received fell by €30.1 million and the foreign exchange result fell by €7.6 million.

EXTRAORDINARY ITEMS NOTE 3 —

Net extraordinary loss was €55 thousand compared with a loss of €1,537 thousand in 2016. In 2016, it was due entirely to the disposal of Giga shares and loans.

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SOMFY – ANNUAL FINANCIAL REPORT 2017