Somfy announces "historic profitability" in the first half of the year

Over the first six months of the year, the group thus achieved a turnover of 805 million euros. That is an increase of 28,7% in the first quarter and 53,4% ​​in the second, at constant scope, according to a press release.

Current operating income jumped 108,3% over one year to 213,8 million euros, resulting in an operating margin of 26,6%. Restated for scope and currency effects, the current operating margin stands at 27,5%. "We are on historic profitability levels," said Pierre Ribeiro, CEO of Somfy, in a video presentation of the results.

"All the regions ended the semester with remarkable performances, posting sales growth of over 10%. Africa and the Middle East, North America, Latin America and Southern Europe stood out in particular. with a growth of more than 50% ", specifies the press release.

The group explained in the first quarter taking advantage of the trend to invest in the house during periods of confinement.

However, the outlook for the coming months is "uncertain", according to Mr. Ribeiro. "The situation has become tense in terms of raw materials and electronic components. We are already seeing it in the third quarter and we expect a rather difficult fourth quarter," he said, while declaring himself "very confident" on the group's ability to show growth over the year.

The Somfy group, a family company founded in 1969 in the Arve valley, was bought in 1984 by the Despature family, which also owns the textile company Damart. Somfy employed around 6.000 people at the end of 2020.

The group's activities range from roller shutter motors to anti-intrusion devices, including connected thermostats, alarms and movement detectors.