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2016 REGISTRATION DOCUMENT
HERMÈS INTERNATIONAL
223
PARENT COMPANY FINANCIAL STATEMENTS
6
NOTE TO THE FINANCIAL STATEMENTS
NOTE 7
FINANCIAL ASSETS
In millions of euros
Gross value as at
31/12/2015
Acquisitions/
Subscriptions
Disposals
Gross value as at
31/12/2016
Provisions for
impairment
Net value as at
31/12/2016
Note
11
Investments in subsidiaries and associates
1,059.6
34.1
(3.1)
1,090.5
(473.3)
617.2
Hermès Italie
1
13.196
12.0
25.2
-
25.2
Maroquinerie Iséroise
2
3.537
9.0
12.5
(8.4)
4.1
Maroquinerie Nontronaise
2
9.167
3.0
12.2
(10.8)
1.4
Maroquinerie de la Tardoire
2
3.037
6.0
9.0
(7.3)
1.7
Hermès Brasil
2
3.906
3.4
7.3
(4.1)
3.2
Ardian Holding
3
12.7
(2.8)
9.9
-
9.9
Other equity interests
4
1,014.1
0.6
(0.3)
1,014.4
(442.6)
571.7
Other financial assets
55.6
13.4
(20.5)
48.5
(8.0)
40.5
Financial investments
5
31.2
8.1
(20.3)
19.0
(8.0)
11.0
Treasury shares (including liquidity contract)
6
20.5
5.3
25.7
25.7
Deposits and guarantees
3.9
0.1
(0.2)
3.8
3.8
Other long-term investments
2.9
0.4
3.2
(0.6)
2.6
FINANCIAL ASSETS
1,118.0
47.9
(23.6)
1,142.3
(481.9)
660.3
The list of investment securities is presented at the end of the notes to the financial statements.
(1) Hermès Italie is wholly owned by Hermès International, versus 90%-owned at the end of 2015.
(2) Namely capital increases of Hermès Group subsidiaries.
(3) Partial buyback of preference shares by Ardian (€2.8 million).
(4) Other provisions for impairment of securities mainly relate to the subsidiaries Castille Investissement, John Lobb, La Manufacture de Seloncourt, La Maroquinerie
St-Antoine, La Manufacture de Haute Maroquinerie, Compagnie Hermès de Participations, Hermès Cuir Précieux, Hermès Argentina, Hermès India, Hermès
Horizons, Maroquinerie de Belley, Maroquinerie de Sayat and Ganterie de St-Junien.
(5) Maturity of a €20 million term deposit.
(6) As at 31 December 2016, Hermès International held 87,539 treasury shares (liquidity contract and unallocated shares intended for external growth operations).
These shares were valued on the basis of their stock market price when they were purchased, i.e. €293.98 per share.