Somfy : Health crisis handled skilfully
>Sales down at a much slower pace than expected in Q2, impressive upswing in June - Somfy reported its Q2 sales yesterday evening. They plunged 16% to € 278m, but well ahead of our expectations at € 216m, down 3.5%. This good news can be attributed to a remarkable pick-up in June (+20%) after two extremely tough months due to the health crisis (May = -20% and April = -45%). The regions worst hit by the COVID-19 epidemic were Africa/Middle-East, Latin America, sou...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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