SOMFY_ANNUAL_FINANCIAL_REPORT_2017

07 CONSOLIDATED FINANCIAL STATEMENTS

Allocated intangible assets

Development costs

Patents and brands

Software Other

In progress and advance payments

Total

€ thousands

134,105 10,302 –2,774 –1,919

Gross value at 1 January 2017

31,456

38,298

9,003 45,138 2,290

7,920 8,487

Acquisitions

– –

223

124

1,368 –774 –124

99

Disposals

–1,416

–514 –297

–70

– – –

Changes in foreign exchange rates Changes in scope of consolidation

–1,493

– –

–4

–

– –

–

–

–

–21

Other movements

5,821

–49

2,942

–22 –8,713

AT 31 DECEMBER 2017

29,963 –17,646 –3,242

42,926

8,267 48,549 2,294

7,694 139,693

–85,530 –11,694

Accumulated amortisation at 1 January 2017

–26,718 –3,381 –35,956 –1,828

– – – – – –

Amortisation charge for the period

–4,585

–571 –3,172

–124

2,111 1,115

Disposals

–

1,411

258

375

67

Changes in foreign exchange rates Changes in scope of consolidation

961

– – –

68

82

4 –

–

– –

–

– –

71

Other movements

49

22

AT 31 DECEMBER 2017

–19,928 10,035

–29,892 –3,577 –38,671 –1,860

– –93,928

NET VALUE AT 31 DECEMBER 2017

13,034

4,690

9,878

434 7,694* 45,765

* Of which development expenses in progress amounting to €6.0 million.

Allocated intangible assets

Development costs

Patents and brands

Software Other

In progress and advance payments

Total

€ thousands

122,737

Gross value at 1 January 2016

31,961

35,868

8,816 41,703 1,577

2,813 8,376

9,729

Acquisitions

–

7

92

1,214 –748

40 –1 –4

–5,248

Disposals

–3,836

–463

–200

– –

–979 7,847

Changes in foreign exchange rates Changes in scope of consolidation

–869 4,200

–

–78 373

–29

1,880 1,007

–

659

735

Other movements

19

–

–1

2,998

20 –4,005

AT 31 DECEMBER 2016

31,456 –19,378 –2,568

38,298

9,003 45,138 2,290

7,920 134,105

–79,245 –9,495

Accumulated amortisation at 1 January 2016

–22,216 –2,700 –33,771 –1,181

– – – – – –

Amortisation charge for the period

–3,450

–572 –2,830

–74

4,973

Disposals

3,836

333

173 –54

631

– 4

430

Changes in foreign exchange rates Changes in scope of consolidation

464

–

17

–2,175

– –

–1,386

–229

–

–560

Other movements

–19

–

1

–3

–17

AT 31 DECEMBER 2016

–17,646 13,810

–26,718 –3,381 –35,956 –1,828

– –85,530

NET VALUE AT 31 DECEMBER 2016

11,580

5,622

9,182

463 7,920* 48,575

* Of which development expenses in progress amounting to €6.9 million.

Development expenses fulfilling the criteria of IAS 38 are capitalised and deemed as internally-generated intangible assets. At 31 December 2017, the gross value of these assets was €48.9 million, of which €6.0 million was in progress and the net value was €19.0 million. The amount of research and development expenses recognised during the year was €88.8 million (net of capitalised production). There are no contractual commitments to purchase intangible assets. Net intangible assets recognised in the context of business combinations at 31 December 2017 comprised €6.8 million in customer relationships and €3.2 million in capitalised research and development expenses (€9.8 million and €4.1 million respectively at 31 December 2016).

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SOMFY – ANNUAL FINANCIAL REPORT 2017