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International version! Translate in your native language:
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SOMFY Group three-minute news brief
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Results: the essentials
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We published our annual results earlier this month. Not all the figures are immediately easy for everyone to grasp. We think it’s important all our employees feel part of this milestone for the Group, which is why Tobias Schaper tells us more about some of the key indicators of our financial performance for the 2022 financial year.
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When it comes to analyzing results, are sales figures all we need to know?
It’s tempting… But it’s not enough! Group sales were up 1.6% on a like-for-like basis compared to the 2021 financial year. This is the sales amounts generated by the Group. Sales are important, but they don’t tell us everything we need to know about our performance.
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Which indicator gives us a better grasp of how the Group is performing?
We need to start with the current operating result. It declined 7.6% this year compared to 2021. The current operating result is the profit or loss resulting from our core business — the difference between our sales and our current operating expenses (purchases or salaries, for example). A decline in current operating result in 2022 shows our expenses rose faster than sales. Pierre Ribeiro and Jean Guillaume Despature outlined the main reasons for this when they presented our results.
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So, the current operating result alone doesn’t give us the whole picture on the Group’s profitability?
That’s right, we need to look at the current operating result alongside the current operating margin. We calculate this by dividing the current operating result by sales (current operating result/sales). This tells us how profitable our business is. This year it was 18.2%, lower than 2021 — 2020 and 2021 were exceptional years — but higher than in the pre-Covid period.
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Which other indicator can tell us more about the Group’s overall situation?
Working capital requirements or WCR. This is the amount of money needed to cover short-term operating cycle costs. In practice, this is the money we need to buy materials and cover our production costs till we have sold the stock and our customers have paid us. The higher the WCR, the more money the company needs to fund its business. Our WCR has increased because our stock levels have increased: sales slowed, and we rebuilt our safety stocks. Lowering WCR is a key financial target for the Group in 2023.
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+ 1,6 %
increase in sales on a like-for-like basis.
In other words, at 2021 exchange rates, and without taking into account the sales of Teleco Automation, acquired in 2022.
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Each month on a special SharePoint site, learn more about the practical ways we are implementing our “2025 One Way” three-year plan.
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In March, “Our Teams” reveals the future missions available to you via the SOMFY Foundation. A colleague tells us how they changed their work routine thanks to the cost leadership program in “Our Performance”. Lastly, “Our Customer” shares a customer’s impressions of our new solar offering.
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Discover our commitments on “Diversity and Inclusion”!
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Access a new Academy via SOMFY Campus, take part in webinars on women’s leadership, and more. For more details and useful links, visit the special SharePoint page.
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Our partner, Repar’stores was awarded 3 prizes at Franchise Expo.
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It won awards for the best franchise in the “100+ franchisees” (1st place) and “Best franchisee of the year” (2nd place) categories. Cofounder Roger Varobieff was also presented with the Gold Ribbon in the “Franchisor” category.
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EXPRESS
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 Pierre Ribeiro will host a live web conference. This interactive event will be accessible via Teams Live Events. It will last 1 hour and will be held in English with a simultaneous translation in French. Take part on Tuesday 4 April from 2pm to 3pm by clicking this link!
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Somfy’s partner biathletes are coming home! On 24 April, come congratulate our biathletes on their outstanding performance this biathlon season. And don’t miss the surprise event on the Somfy Lighthouse parking lot in Cluse!
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YAMMER POST OF THE MONTH
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The group is organizing its first “SOMFY Safety Day” on 28 April! Keep an eye on Hello SOMFY to see what’s happening on your site.
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