Somfy : First effects of the slowdown in demand
>Q2 2022 sales in line with our expectations and confirming a deterioration of the environment - Somfy reported its Q2 2022 sales yesterday evening. They were in line with our expectations at € 434m (ODDO BHF = € 430m) and reflected zero organic growth (0% vs +9% in Q1) despite very positive price effects. While the group is facing a high basis of comparison, it is also facing a deteriorated economic and geopolitical environment.The slowdown in demand was particu...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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