SOMFY_ANNUAL_FINANCIAL_REPORT_2017

08 PARENT COMPANY FINANCIAL STATEMENTS

TAX CONSOLIDATION NOTE 4.2

List of companies included in tax consolidation Somfy SA Parent company

The tax consolidation agreement signed between Somfy SA and its direct and indirect subsidiaries was renewed on 1 January 2013 for an indefinite period of time. In accordance with the agreement, the difference calculated between the income tax chargeable on the combined profits of the tax consolidation and the sum of the Group companies’ individual tax charges is credited to Somfy SA, the Group’s parent company. At 31 December 2017, tax savings resulting from the transfer of losses from subsidiaries are considered to be tax income. Should a subsidiary cease to be a member of the tax consolidation, it will be compensated by Somfy SA in accordance with a jointly-agreed exit methodology, taking account of the situation at that date.

Cluses Cluses

Somfy Activités SA

Simu SAS CMC SARL Domis SA

Gray

Cluses Rumilly

Automatismes BFT France SAS

Lyon

SEM-T SASU

Cluses

BFT Sud Est SAS Opendoors SAS

Saint Laurent du Var

Cluses

Overkiz SAS

Metz-Tessy

Currently there are no available Group tax losses to be used.

Somfy Protect by Myfox SAS

Labège

NET PROFIT NOTE 5 — Net profit totalled €107.1 million.

NON-CURRENT ASSETS NOTE 6 —

GROSS NON-CURRENT ASSETS NOTE 6.1

Gross value 31/12/16

Increase Decrease

Merger movements

Other movements

Gross value 31/12/17

€ thousands

Intangible assets

215

– –

– –

– – – – – – – –

– –

215

Property, plant and equipment

2

2

Financial assets

408,343 388,993

20,524 15,000

–3,912

21,426

446,382 402,180 27,639

Equity investments

–839

–974

Receivables from equity investments

6,165

231

–1,157

22,400

Other financial assets

24

–

–

– –

24

Bonds

13,161 408,560

5,293

–1,915 –3,912

16,539 446,598

20,524

21,426

The increase in equity investments is due to a €15 million capital increase by Somfy Activités SA. The €839 thousand decrease is due to the transfer of Storm shares to Simu SAS to facilitate the merger of the two entities. A €974 thousand adjustment was made to Somfy Protect by Myfox shares following the recalculation of the first earnout. Other movements in receivables from equity investments were due to the reclassification of financial advances made to certain subsidiaries to medium and long term. Bonds increased by €5,293 thousand due to the subscription of a €4,000 thousand debenture loan issued by Somfy Protect by Myfox and the capitalisation of interest on the Garen debenture loan.

AMORTISATION AND DEPRECIATION NOTE 6.2

Amount at 31/12/16

Charges

Reversals

Merger movements

Other movements

Amount at 31/12/17

€ thousands

Intangible assets

214 214

– – – –

– – – –

– – – –

– – – –

214 214

Concessions, patents and licences Property, plant and equipment

2

2

216

216

122

SOMFY – ANNUAL FINANCIAL REPORT 2017