Somfy : Good surprise on Q1 sales but visibility has weakened
>Q1 sales sharply exceeded our expectations - Yesterday evening, Somfy reported its Q1 2022 sales. They were up 9% to € 412m (volumes = +6% and price = +3%), a level significantly exceeding our expectations (and management’s).All geographical areas have posted organic growth, the strongest being Eastern Europe (+26%) and the weakest being Central Europe (+2% including -2% in Germany).Increased level of uncertainty for 2022 - In an unchanged conte...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.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.