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2016 REGISTRATION DOCUMENT
HERMÈS INTERNATIONAL
185
CONSOLIDATED FINANCIAL STATEMENTS
5
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
NOTE 18
TRADE AND OTHER RECEIVABLES
In millions of euros
31/12/2016
31/12/2015
Gross
Impairment
Net
Net
Trade and other receivables
312.4
5.1
307.2
303.0
o/w:
s
not yet due
264.9
0.3
264.5
269.5
s
due
1
47.5
4.8
42.7
33.5
Current tax receivables
22.7
-
22.7
31.8
Other assets
198.5
0.1
198.4
183.0
Other non-current assets
9.7
0.3
9.5
5.9
TOTAL
543.4
5.6
537.8
523.8
(1) The amount of trade and other receivables payable is broken down as follows:
31/12/2016
31/12/2015
Gross
Impairment
Net
Net
Under 3 months
35.7
0.3
35.4
28.9
Between 3 and 6 months
4.0
0.9
3.1
3.3
Over 6 months
7.7
3.6
4.2
1.3
Except for other non-current assets, all accounts receivable are due wit-
hin 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. Consequently,
the risk of non-recovery is low, as evidenced by accounts receivable
impairment, which amounted to 2%of the gross value at the end of 2016
(2% end of 2015). There is no significant concentration of credit risk.
NOTE 19
CASH AND CASH EQUIVALENTS
19.1
Change in net cash position
In millions of euros
31/12/2015
Cash flows
Exchange rate
impact
Impact on
scope of
consolidation
Others
1
31/12/2016
Cash and cash equivalents
535.7
454.0
0.8
-
(0.3)
990.2
Marketable securities
2
1,053.1
292.7
(7.8)
-
-
1,338.0
Sub-total
1,588.8
746.7
(7.0)
-
(0.3)
2,328.2
Bank overdrafts and current accounts in debit
(17.6)
9.2
0.0
-
-
(8.4)
NET CASH POSITION
1,571.2
755.9
(7.0)
-
(0.3)
2,319.8
(1) Corresponds with
the
mark-to-market on cash and cash equivalents.
(2) Primarily invested in money market SICAVs and cash equivalents with a duration of less than three months.
All of the cash and cash equivalents have a maturity of less than three
months and a sensitivity of less than 0.5%.
The gains and losses generated through disposal of marketable secu-
rities during the financial year and recorded through profit or loss were
equal to €0.2 million in 2016 (versus €0.6 million in 2015). No unrea-
lised gain or loss existed as at 31 December 2016.