HERMÈS - 2019 Universal Registration Document

CONSOLIDATED FINANCIAL STATEMENTS NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

LOANS AND DEPOSITS

NOTE 19

Exchange rate impact

31/12/2018

Increases

Decreases

Other 31/12/2019

In millions of euros

Loans and deposits 1

65.6 18.9 46.7

15.8

(4.0) (1.2) (2.9)

1.2 0.5 0.8

(1.2) (0.1) (1.1)

77.4 19.3 58.1

Impairments

1.2

TOTAL

14.6

Security deposits amounted to €56.1 million as at 31 December 2019, compared with €43.9 million as at 31 December 2018. (1)

INVENTORIES AND WORK-IN-PROGRESS

NOTE 20

31/12/2019

31/12/2018

Gross

Impairment

Net

Gross

Impairment

Net

In millions of euros

Retail, intermediate and finished goods Raw materials and work-in-progress

1,206.5

453.9 264.0

752.6 1,030.8

422.1 245.3 667.4

608.7 354.9 963.6

644.0

380.0

600.2

TOTAL

1,850.4

717.8 1,132.6 1,631.0

Net income/(expense) from impairment of retail, intermediate and finished goods Net income/(expense) from impairment of raw materials and work in progress

-

(26.4)

-

-

(5.0)

-

-

(17.4)

-

-

(34.5)

-

No inventories were offered as collateral to secure financial debt.

TRADE AND OTHER RECEIVABLES

NOTE 21

5

31/12/2019

31/12/2018

Gross

Impairment

Net

Net restated

In millions of euros

Trade and other receivables

324.7 288.1

(6.8)

317.9 288.1

280.7 250.2

of which:

not yet due s

due 1 s

36.6 20.7

(6.8)

29.8 20.7

30.5 17.9

Tax receivables

- - -

Other assets

198.8

198.6

199.4

Other non-current assets

10.8

10.5

15.3

TOTAL

555.1

(6.8)

547.8

513.3

The amount of trade ad other receivables payable is broken down as follows: (1)

31/12/2019

31/12/2018

Gross 30.7

Impairment

Net

Net

Under 3 months

1.8 0.3 4.7 6.8

28.9

28.1

Between 3 and 6 months

1.2 4.7

0.9

2.4

Over 6 months

-

-

TOTAL

36.6

29.8

30.5

Consequently, the expected risk of non-recovery is low, as evidenced by accounts receivable impairment, which amounted to 2% of the gross value at the end of 2019 (2% at end of 2018). There is no significant concentration of credit risk.

With the exception of other non-current receivables, all receivables are due within one year. There were no significant payment deferrals that would justify the discounting of receivables. The Group’s policy is to recommend that insurance be taken out covering accounts receivable inasmuch as local conditions permit.

2019 UNIVERSAL REGISTRATION DOCUMENT HERMÈS INTERNATIONAL

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