HERMÈS - 2018 Registration document

5

Consolidated financial statements Consolidated statement of cash flows for 2018

CONSOLIDATED STATEMENT OF CASH FLOWS FOR 2018

5.5

2018

2017

Notes

In millions of euros

CASH FLOWS RELATED TO THE ACTIVITY Net income attributable to owners of the parent

1,404.6

1,221.5

Depreciation and amortisation

12, 13 and 14 11, 12 and 13

217.0

201.1

Impairment losses

43.0 (0.2) (3.6) 68.8

41.9 (1.4) 19.7 78.6 (5.3)

Mark-to-Market financial instruments

Foreign exchange gains/(losses) on fair value adjustments

Change in provisions

Net income from associates

(16.6)

Net income attributable to non-controlling interests

22

5.0

4.3 1.3

Capital gains/(losses) on disposals

(49.5) (26.8)

Deferred tax expense

(25.3)

Accrued expenses and income related to share-based payments

51.4

62.0

Dividend income

(10.0)

(17.9)

Other

(0.3)

(0.3)

Operating cash flows

1,682.7

1,580.1

Change in working capital requirements Change in net cash related to the activity ( A ) CASH FLOWS RELATED TO INVESTING ACTIVITIES Acquisitions of intangible assets Acquisitions of property, plant and equipment

20.2

76.7

25.4

1,759.4

1,605.6

12

(62.2)

(49.3)

13 and 14

(250.1)

(216.0)

Acquisitions of investment securities Acquisitions of other financial assets

15 15

(8.4)

(4.9)

(80.0)

(142.7)

Change in amounts payable to fixed asset suppliers Proceeds from sale of operating assets Proceeds from sale of other financial assets

(4.4) 69.1 69.1 27.6

15.8

3.6

15

10.7 36.0

Dividends received

Change in net cash related to investing transactions ( B ) CASH FLOWS RELATED TO FINANCING ACTIVITIES Dividends paid

(239.3)

(346.7)

(958.3)

(401.9) (187.9)

Treasury share buybacks net of disposals

(59.7)

Proceeds from borrowings Repayment of borrowings

0.2

0.7

(1.8)

(1.8)

Change in net cash related to financing activities ( C )

(1,019.6)

(590.9)

Change in scope ( D )

0.0

0.0

Foreign currency translation adjustment ( E ) CHANGE IN NET CASH ( A ) + ( B ) + ( C ) + ( D ) + ( E )

52.8

(76.3) 591.8

553.4

Net cash at the beginning of the period Net cash at the end of the period CHANGE IN NET CASH POSITION

20 20 20

2,911.7 3,465.1

2,319.8 2,911.7

553.4

591.8

N.B. The values shown in the tables are generally expressed in millions of euros. In certain cases, the effects of rounding up/down can lead to a slight discrepancy in the totals or changes.

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2018 REGISTRATION DOCUMENT HERMÈS INTERNATIONAL