HERMÈS - 2018 Registration document
5 CONSOLIDATED FINANCIAL STATEMENTS AFR 237 5.1 Consolidated statement of profit or loss for 2018 238 5.2 Consolidated statement of comprehensive income for 2018 239 5.3 Consolidated statement of financial position as at 31 December 2018 240 5.4 Consolidated statement of changes in equity as at 31 December 2018 242 5.5 Consolidated statement of cash flows for 2018 244 5.6 Notes to the consolidated financial statements 246 5.7 Statutory auditors’ report on the consolidated financial statements 289
MESSAGE FROM THE EXECUTIVE MANAGEMENT
5 6
HIGHLIGHTS 2018
1 OVERVIEW OF THE GROUP
9
Stages of the Group’s history
11 15 16 18 26 32 35 35 36
1.1 1.2 1.3 1.4 1.5 1.6 1.7 1.8 1.9
Group Governance
Key figures
Activity by métier AFR
Activity by geographic area AFR
Simplified Group organisational chart
Property
Fondation d’entreprise NFPS
6 PARENT COMPANY FINANCIAL STATEMENTS AFR
Risk factors AFR NFPS
295 296
1.10 Internal control and risk management procedures relating to the preparation and processing of accounting and financial information
Statement of profit or loss for 2018
6.1 6.2
Statement of financial position as at 31 December 2018
48
297 298 299 300 314 315 316 320
Changes in equity in 2018
6.3 6.4 6.5 6.6 6.7 6.8 6.9
Statement of cash flows for 2018 Notes to the financial statements
2 CORPORATE SOCIAL RESPONSIBILITY AFR NFPS 51 2.1 Business model 53 2.2 People: savoir-faire 61 2.3 People: teams 69 2.4 Planet: raw materials 85 2.5 Planet: environment 91 2.6 Communities: suppliers & partners 111 2.7 Communities: stakeholders and local integration 120 2.8 Report by one of the Statutory Auditors, appointed as independent third party, on the consolidated non-financial performance statement in the Management Report 127
List of investments in subsidiaries and associates as at 31 December 2018 Table of results over the last five financial years
Table of subsidiaries and associates
Information on due dates
6.10 Statutory auditors’ report on the annual financial statements
321
7 INFORMATION ON THE COMPANY AND ITS SHARE CAPITAL
327
Presentation of Hermès International and Émile Hermès SARL Information on share capital and shareholders
7.1
329 340 355 356 360
3 CORPORATE GOVERNANCE
133
7.2 7.3 7.4 7.5
Supervisory Board’s report on corporate governance 135
3.1 3.2 3.3
Dividend policy
Ethics – Compliance NFPS
214
Stock market information Shareholder information
Other information from the executive management report
223
8 COMBINED GENERAL MEETING OF 4 JUNE 2019 363 8.1 Agenda 364 8.2 Purpose and draft resolutions 366 8.3 Supervisory Board report to the Combined General Meeting of 4 June 2019 393 8.4 Statutory Auditors’ reports 395
4 COMMENTS ON THE FINANCIAL YEAR AND OUTLOOK
227
Comments on the consolidated statement of profit or loss Comments on the summary consolidated statement of cash flows
4.1
228
4.2
229 231 231
Creation of value Exceptional events
4.3 4.4 4.5
9 ADDITIONAL INFORMATION
407
Information on the parent company financial statements, on accounts payable due dates, subsidiaries and associates
Persons responsible for the Registration Document AFR
9.1
408 409 409 409 410 417
232 234
Statutory Auditors AFR
9.2 9.3 9.4 9.5 9.6
Outlook
4.6
Regulatory information consultation Information incorporated by reference
Cross-reference tables
Glossary
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The sections of the Annual Financial Report are identified in the contents with the AFR pictogram. Elements constituting the statement of non-financial performance are clearly identified in the contents with the NFPS pictogram.
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