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2016 REGISTRATION DOCUMENT
HERMÈS INTERNATIONAL
154
COMMENTS ON THE FINANCIAL YEAR AND OUTLOOK
4
INFORMATION ON THE PARENT COMPANY FINANCIAL STATEMENTS, ON ACCOUNTS PAYABLE DUE DATES, SUBSIDIARIES AND ASSOCIATES
4.3
INFORMATION ON THE PARENT COMPANY FINANCIAL STATEMENTS,
ON ACCOUNTS PAYABLE DUE DATES, SUBSIDIARIES AND ASSOCIATES
4.3.1
INFORMATION ON PARENT COMPANY
FINANCIAL STATEMENTS
The parent company financial statements as presented were approved
by the ExecutiveManagement on 7 February 2017 andwill be submitted
to the shareholders for approval at the General Meeting of 6 June 2017.
The parent company financial statements were also reviewed by the
Audit Committee at its meeting of 16 March 2017.
4.3.1.1
Revenue
Revenue amounted to €177.6 million in 2016, as compared with
€207.2 million in 2015.
The Company’s revenue consists of sales of services that are charged
back toGroup subsidiaries for advertising andpublic relations, rent, staff
provided on secondment, insurance and professional fees and of royal-
ties on the revenue of the production subsidiaries.
4.3.1.2
Statement of financial position and statement
of profit or loss
Hermès International’s statement of financial position and statement of
profit or loss appear on pages 214 to 215.
The parent company financial statements are drawn up in accordance
with the provisions of French laws and regulations and with generally
accepted accounting principles.
As at 31 December 2016, total assets amounted to €3,465.6 million
compared with €2,544.5 million as at 31 December 2015. The state-
ment of profit or loss shows net income of €1,091.2 million, compared
with €842.8 million in 2015.
As at 31 December 2016, share capital amounted to €53,840,400.12,
made up of 105,569,412 shares with a par value of €0.51 each.
4.3.2
INFORMATION ON ACCOUNTS PAYABLE
DUE DATES
In application of Articles L. 441-6-1, D. 441-4 and D. 823-7-1 of the
French Commercial Code (
Code de commerce
), the breakdown of the
balance of debt with regard to suppliers bymaturity is given on page 226.
4.3.3
INFORMATION ON SUBSIDIARIES
AND ASSOCIATES
A list of companies whose registered office is located in French territory
and in which the Company owns a material interest, whether directly or
indirectly, is provided in the notes to the parent company financial state-
ments (pages 234 and 235).
4.3.3.1
Activity of subsidiaries
TheactivitiesofthemainsubsidiariesoftheGroupareshownonpage15.
4.3.3.2
Equity investments in companies having their
registered office in france (Art. L. 233-6 of the
french commercial code (
Code de commerce
))
In 2016, Hermès International and its subsidiaries made equity invest-
ments in companies having their registered office in France:
s
Compagnie Hermès de Participations 2 has acquired a mino-
rity stake in the share capital of Maison Pierre Hardy (33% at
31 December 2016).