SOMFY announces a decline in sales, impacted by a still challenging macro-economic climate. With well-positioned solutions on long-term growth markets, the Group is pursuing the roll-out of its corporate plan whilst still seeking to guarantee customer satisfaction and efficient processes.

Group sales for the first six months of 2023 stood at €761 million, down 10.1% in comparison with the same period of the previous financial year (down 11.3% on a like-for-like basis). The widespread decrease in demand is leading to a significant, albeit temporary, reduction in inventories held by customers.

Over the half-year, the Latin America and Africa & the Middle East regions continued to post growth, recording respective increases of 10.0% and 6.1% on a like-for-like basis, underlining the relevance of the Group’s international footprint. Other regions were down, with like-for-like declines of 29.3% in Eastern Europe, 16.5% in Central Europe, 15.9% in North America, 8.5% in Northern Europe and 5.7% in France, all still impacted by global macro-economic pressures.

SOMFY completed at the end of August the acquisition of De Haan Westerhoff, a recognised specialist in the repair, maintenance and installation of external solar shading solutions for non-residential buildings in The Netherlands. The Group is strengthening its positioning in services – after acquiring Répar’stores in 2021 – as well as its ability to seize growth potential in the non-residential segment. This acquisition reinforces SOMFY’s commitment to sustainability, promoting the benefits of dynamic solar shading, which is particularly relevant to preserve energy consumption and increase comfort and well-being in buildings.

The Group prioritised its structuring projects over the half-year and made the launch of solutions promoting energy efficiency central to its corporate plan, particularly in relation to current climate and societal challenges, along with digitalisation, by creating a new “Digital and Data Value Creation” function bringing together IT, Data and Digital Factory competencies.

The period just ended continued to be impacted by the unfavourable economic climate; however long-term trends remain positive and SOMFY is pursuing its development and investments in line with its strategy whilst simultaneously targeting operational excellence and maintaining the budgetary restraint required over the coming months in view of the ongoing inflationary environment.

• SOMFY: Carole Laou Sio Hoï: +33 (0)6 24 39 54 25 
• Shan: Aliénor Kuentz: +33 (0)6 28 81 30 83 

Founded in 1969 in France, and now operating in 58 countries, SOMFY is the world leader in window and door automation for homes and buildings.
Pioneer in the connected home, the Group is constantly innovating to guarantee its users comfort, well-being, and security in the home and is fully committed to promoting sustainable development.
For more than 50 years, SOMFY has been using automation to improve living environments and has been committed to creating reliable and sustainable solutions that promote better living and well-being for all.