Somfy the world leader in the automatic control of openings and closures in homes and buildings has published its Annual Financial Report for 2017 showing a year on year increase in sales exceeding 10%.
Somfy is an international group with operations in almost 60 countries. For over 45 years, Somfy has allowed people to transform their living environments with automatic controls, by designing and developing solutions offering comfort, security and energy savings.
The Annual Financial Report for 2017 can be downloaded from the Somfy Group website.
The future is also bright for 2018 as evidenced in the first quarter results published at the same time.
Group sales totalled €302.5 million for the first three months, an increase of 2.7% in real terms and 5.8% on a like‐for‐like basis. It takes into account a negative exchange rate effect of €9.4 million.
The slowdown seen in comparison with previous quarters was due to the high level of the comparison base (1) and above all to the downturn recorded at the end of the period, which was the result of a negative calendar effect in Europe and unfavourable business conditions in many countries (adverse weather conditions in Germany and Northern Europe, and economic and political instability in the Middle East, Argentina and Brazil).
As such, performances over the quarter varied according to region (2). They remained highly satisfactory in Central and Eastern Europe, France, North America, Asia‐Pacific and China (up 15.4%, 11.9%, 10.9%, 10.5% and 8.2% respectively on a like‐for‐like basis).
Conversely, they were impacted by the vagaries referred to above in Southern Europe, Central and South America, Germany, Northern Europe, and above all Africa and the Middle East (respectively up 2.1%, 1.8%, 1.7%, and down 0.8% and 14.7% on a like‐for‐like basis).
You can read all the detail, including a geographical analysis of sales on the Somfy Group website.
The latest innovations have proved highly successful, notably at the two major international shows in which the Group took part, namely the CES trade fair in Las Vegas and R+T in Stuttgart.
The quarter was also marked by currency fluctuations which impacted both business, as mentioned above, and to a lesser extent operating margin, as a result of the continued appreciation of the euro against other major currencies in recent times.
1 Group sales growth on a like‐for‐like basis was 9.9% over the first quarter of 2017.
2 Africa and the Middle East, Germany, Central and South America, North America, Asia‐Pacific, China, Central and Eastern Europe, Northern Europe, Southern Europe and France are the geographic regions used to analyse and monitor sales. Their respective sales are calculated based on customer location and therefore the destination of the sales.
Find out more at www.somfy-group.com
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