HERMÈS - 2019 Universal Registration Document

CONSOLIDATED FINANCIAL STATEMENTS NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

As at 31 December 2018

< 1 year 3,479.1 2,499.6

1 to 5 years

> 5 years

Total

Floating rate

Fixed rate

In millions of euros Financial assets

- - - - - - -

- - - - - - - - - - - -

3,479.1 1,190.2 2,288.9

Euro

2,499.6

758.6 1,741.0

US dollar

227.1 124.8 157.9 233.7 235.9

227.1 124.8 157.9 233.7 235.9

227.1

-

Yuan

19.7 16.8 19.6

105.1 141.1 214.1

Singapore dollar Hong Kong dollar Other currencies

148.3

87.6

Financial liabilities 1

22.5 14.5

1.0 1.0

23.6 15.5

23.1 15.1

0.4 0.4

Euro

Other currencies 2

8.0

-

8.0

8.0

-

Net cash position before hedging Net cash position after hedging

3,456.5 3,456.5

(1.0) (1.0)

3,455.5 1,167.1 2,288.5 3,455.5 1,167.1 2,288.5

Excluding commitments to acquire non-controlling interests (€26.5 million as at 31 December 2018). (1) Mainly consists of long-term amortisable floating-rate loan taken out by Hermès Brazil and foreign subsidiaries’ bank overdrafts. (2)

As at 31 December 2018

< 1 year 3,479.1 3,479.1

1 to 5 years

> 5 years

Total

Floating rate

Fixed rate

In millions of euros Financial assets

- -

- - - - - - -

3,479.1 1,190.2 2,288.9 3,479.1 1,190.2 2,288.9

Cash and cash equivalents

Financial liabilities 1

22.5

1.0 1.0

23.6

23.1

0.4

Medium and long-term financial liabilities Bank overdrafts and short-term liabilities

8.2

9.3

9.3

-

14.3

-

14.3

13.9

0.4

Net cash position before hedging Net cash position after hedging

3,456.5 3,456.5

(1.0) (1.0)

3,455.5 1,167.1 2,288.5 3,455.5 1,167.1 2,288.5

5

Excluding commitments to acquire non-controlling interests (€26.5 million as at 31 December 2018). (1)

25.3.1 EQUITY RISK Investments in equities are not material at Group level. As such, the Group has no exposure to equity risk.

25.3.2 SENSITIVITY TO INTEREST RATE FLUCTUATIONS A uniform 1 percentage point increase in interest rates would have had a positive impact of €15.9 million on the consolidated net income before tax (€11.7 million in 2018). The market value of investments is equivalent to their carrying amount. Financial liabilities do not include the liability associated with employee profit-sharing, which is included in “Other liabilities”.

2019 UNIVERSAL REGISTRATION DOCUMENT HERMÈS INTERNATIONAL

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