HERMÈS - 2018 Registration document

4

COMMENTS ON THE FINANCIAL YEAR AND OUTLOOK

COMMENTS ON THE CONSOLIDATED STATEMENT OF PROFIT OR LOSS COMMENTS ON THE SUMMARY CONSOLIDATED STATEMENT OF CASH FLOWS

4.1

228

4.2

229

Financial position

4.2.1

229

Investments

4.2.2

230

CREATION OF VALUE

4.3

231

EXCEPTIONAL EVENTS

4.4

231

INFORMATION ON THE PARENT COMPANY FINANCIAL STATEMENTS, ON ACCOUNTS PAYABLE DUE DATES, SUBSIDIARIES AND ASSOCIATES Information on parent company financial statements

4.5

232

4.5.1

232

Information on accounts payable due dates Information on subsidiaries and associates

4.5.2

232

4.5.3

232

Information on branches

4.5.4

233

Information on the amount of inter-company loans

4.5.5

233

OUTLOOK

4.6

234

2018 REGISTRATION DOCUMENT HERMÈS INTERNATIONAL

227