HERMÈS - 2019 Universal Registration Document

CONSOLIDATED FINANCIAL STATEMENTS NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

Foreign currency adjustments 23.2 The change in foreign currency adjustments in the financial year is analysed below:

31/12/2019

31/12/2018 restated

Balance as at 1 January

88.0 13.3 10.5

13.5 29.9 13.6 (0.4) 17.0 14.1

US dollar

Hong Kong dollar Pound sterling

8.9 5.9 6.5 4.8 3.6 1.8 1.5

Yen

Singapore dollar

Yuan

4.5 3.9 2.5

Swiss franc

Macao pataca

Rouble

(1.6) (8.9) 88.0

Other currencies

(6.0)

Balance at end of period

138.7

Revaluation adjustments 23.3 2019 movements in derivatives (future cash flow hedges in foreign currencies) and financial investments break down as follows (after tax):

31/12/2019

31/12/2018 restated

In millions of euros

Balance as at 1 January

48.0 37.6

131.4 (34.9) (33.3)

Amount transferred to equity in the year in respect of derivatives

Revaluation of derivatives

(32.9)

5

Revaluation of financial investments

-

27.6 (8.6)

Other deferred foreign exchange gains/(losses) recognised in comprehensive income

(1.8)

First-time application of IFRS 9

-

(34.2)

Balance at end of period

50.9

48.0

Income and expenses recognised in comprehensive income 23.4 In 2019, income and expenses recognised directly in equity break down as follows:

Gross impact

Tax impact

Net impact

Notes 28.3.4

In millions of euros

Actuarial gains and losses Foreign currency adjustments Revaluation adjustments Balance as at 31 December 2019

(47.8)

11.8

(36.0)

23.2 23.3

50.1

-

50.1

6.8

(4.0)

2.8

16.9

In 2018:

Restated net impact

Gross impact

Tax impact

Notes 28.3.4

In millions of euros

Actuarial gains and losses Foreign currency adjustments Revaluation adjustments Balance as at 31 December 2018

7.2

(1.7)

5.5

23.2 23.3

74.8

-

74.8

(94.6)

45.4

(49.2)

31.1

2019 UNIVERSAL REGISTRATION DOCUMENT HERMÈS INTERNATIONAL

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