Somfy: stock down with Q3 sales falling over 5%
(CercleFinance.com) - Somfy, one of the largest manufacturers and supplier of controllers and drives for entrance gates, garage doors, blinds and awnings, has reported 9m 2021 sales of 1.
15 billion euros, up 23.1% (+21.8% on a comparable basis), although this performance was only driven by the strength of its business in the first half of the year.
In Q3 alone, the group's revenues fell by 5.4% to 348.4 million euros (-7.5% on a comparable basis), due to a comparison basis effect and tensions on supply and logistics.
Although Somfy believes that tensions on the electronic components and raw materials markets will remain significant over the next few months, it confirms its expectation of sustained growth in business over the full year.
The share is currently down about 0.5% in Paris.
Copyright (c) 2021 CercleFinance.com. All rights reserved.
15 billion euros, up 23.1% (+21.8% on a comparable basis), although this performance was only driven by the strength of its business in the first half of the year.
In Q3 alone, the group's revenues fell by 5.4% to 348.4 million euros (-7.5% on a comparable basis), due to a comparison basis effect and tensions on supply and logistics.
Although Somfy believes that tensions on the electronic components and raw materials markets will remain significant over the next few months, it confirms its expectation of sustained growth in business over the full year.
The share is currently down about 0.5% in Paris.
Copyright (c) 2021 CercleFinance.com. All rights reserved.