HERMÈS - 2019 Universal Registration Document

CONSOLIDATED FINANCIAL STATEMENTS NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

PROPERTY, PLANT AND EQUIPMENT

NOTE 15

Exchange rate impact

31/12/2018 Increases 1

Decreases

Other 31/12/2019

In millions of euros

Land

155.3 854.1 335.7 887.7 374.5

2.7

-

3.5 9.5 2.5

2.6 6.8

164.0 955.8 363.4

Buildings

93.3 27.2

(7.8)

Industrial machinery, plant and equipment

(13.2) (33.4) (10.9)

11.2

Store fixtures and furnishings

106.4

13.6

39.0 1,013.3

Other property, plant and equipment assets

30.8

1.5 1.3

11.6

407.5 135.9

Assets under construction TOTAL GROSS VALUES Depreciation of buildings

94.7

123.0 383.4

(0.1)

(83.1) (11.9)

2,701.9

(65.3)

31.9

3,039.9

334.8 197.5 490.3 235.9

38.1 23.9 90.8 34.7 17.1

(4.8)

4.0 1.1 7.0 0.9 1.2

0.5 4.4

372.7 214.6 548.2 254.1 108.5

Depreciation of plant, machinery and equipment Depreciation of store fixtures and furnishings Depreciation of other property, plant and equipment

(12.4) (33.2) (10.8)

(6.7) (6.6) (3.6)

Impairment losses 2

98.0

(4.2)

TOTAL AMORTISATION AND IMPAIRMENT

1,356.5 1,345.4

204.7 178.7

(65.4)

14.2 17.7

(12.0)

1,498.1

TOTAL NET VALUES

0.0

0.1 1,541.8

Investments made in 2019 concern mainly the opening and renovation of stores and capital expenditure to expand production capacity. (1) Impairment losses relate to production lines and stores deemed not to be sufficiently profitable. It is noted that the cash generating units on which impairment losses (2) have been recognised are not individually material when compared with the Group’s overall business.

No item of property, plant or equipment has been pledged as debt collateral. Furthermore, the amount of such assets in temporary use is not material when compared with the total value of property, plant and equipment. In 2018, changes in property, plant and equipment were as follows:

Exchange rate impact

5

31/12/2017 Increases 1

Decreases

Other 31/12/2018

In millions of euros

Land

158.4 820.3 301.9 769.4 341.5

1.4

(11.8) (12.7)

6.6

0.7

155.3 854.1 335.7 887.7 374.5

Buildings

14.6 25.7 91.0 29.8 87.7 33.6 22.1 82.0 32.6 19.3 250.1 189.5

13.1

18.8 10.6 41.9

Industrial machinery, plant and equipment

(3.1)

0.6

Store fixtures and furnishings

(26.1)

11.6

Other property, plant and equipment assets

(7.8) (0.2)

1.3 0.8

9.6

Fixed assets under construction

91.3

(84.8)

94.7

TOTAL GROSS VALUES Depreciation of buildings

2,482.8

(61.8)

34.0

(3.2) (1.0)

2,701.9

302.6 174.8 427.6 213.1

(7.1) (2.9)

6.9 0.4 6.5 1.0 0.6

334.8 197.5 490.3 235.9

Depreciation of plant, machinery and equipment Depreciation of store fixtures and furnishings Depreciation of other property, plant and equipment

3.1

(25.7)

(0.1) (3.5) (2.4) (4.0)

(7.2) (0.9)

Impairment losses 2

81.3

98.0

TOTAL AMORTISATION AND IMPAIRMENT

1,199.5 1,283.3

(43.8) (18.0)

15.3 18.7

1,356.5

TOTAL NET VALUES

60.6

0.8 1,345.4

Investments made in 2018 concern mainly the opening and renovation of stores and capital expenditure to expand production capacity. (1) Impairment losses relate to production lines and stores deemed not to be sufficiently profitable. It is noted that the cash generating units on which impairment losses (2) have been recognised are not individually material when compared with the Group’s overall business.

2019 UNIVERSAL REGISTRATION DOCUMENT HERMÈS INTERNATIONAL

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