Somfy : Deterioration in visibility confirmed
>Satisfactory H1 results relative to our expectations – Contained fall in profit - Somfy reported its H1 results yesterday evening. They are satisfactory relative to our expectations with in particular underlying operating profit down just 7% to € 198m (vs ODDO BHF = € 190m) despite an exceptionally high base of comparison, the inflationary context (supplies, logistics, etc.) and the increase in strategic transformation spending (digitalisation, product redesign, etc....Somfy SA is a France-based company engaged in the design, manufacture and development of controls for openings and closures of homes and commercial buildings. The Company's range of products include automatic controls for awnings, rolling shutters, storefront grills, garage doors and gates, motors and controls for roller shutters and curtains, venetian blinds and all interior window coverings and decoration, alarm systems and for protecting large utility facilities. It has operations in France, Germany, Greece, Romania, Italy, Middle East, Asia Pacific, and the United States, among others.The Company operates through Garen Automacao, Neocontrol Solucoes em Automacao SA and MyFox, among others. It joins venture with iHome in South East Asia.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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