HERMÈS - 2019 Universal Registration Document

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CONSOLIDATED FINANCIAL STATEMENTS NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

INVESTMENT PROPERTY

NOTE 16

Exchange rate impact

31/12/2018

Increases

Decreases

Other 31/12/2019

In millions of euros

Land

29.4 69.6 99.1 22.2 76.9

- - -

- - - - -

1.4 3.2 4.5 1.1 3.4

- - - - -

30.7 72.8

Buildings

TOTAL GROSS VALUES

103.4

Amortisation

2.2

25.4 78.0

TOTAL NET VALUES

(2.2)

It is stipulated that the Group and its subsidiaries are not bound by any likely, as far as we know, to change materially in the coming financial contractual obligation to buy, build or develop investment properties, years.

existing or not. Moreover, the costs incurred for the upkeep, maintenance and improvement of the investment assets are neither significant nor

The net rental proceeds from investment properties total €8.9 million in the year (compared with €8.4 million in 2018).

FINANCIAL ASSETS

NOTE 17

Exchange rate impact

Increases 1

Other 2

31/12/2018

Decreases

31/12/2019

In millions of euros

Financial investments and accrued interest

301.8

75.1

(35.0)

- - -

(8.0)

333.9

Liquidity contract

10.3

1.6

- -

- -

12.0 15.2 29.1

Other non-consolidated investments

1.2

14.0

Other financial assets TOTAL GROSS VALUES

14.2

6.3

(0.6)

0.2 0.2 0.2 0.0

9.1 1.1 8.5

327.3

96.9 10.6 86.3

(35.6)

390.2

Impairments

13.5

(0.0)

32.8

TOTAL NET VALUES 357.4 The increase in financial investments corresponds to investments that do not meet the criteria for cash equivalents, notably on account of their original maturity of (1) more than three months. Changes in the value of financial assets at fair value by equity in are recorded in “Revaluation adjustments” in equity, in compliance with the method described in (2) Note 1.10. 313.9 (35.6) (7.4)

Classification and fair value measurement of these financial assets is presented in Note 25.4.

INVESTMENTS IN ASSOCIATES

NOTE 18

2019 75.1

2018 restated

In millions of euros

Balance as at 1 January

72.5

Impact of changes in scope of consolidation

-

-

Net income from associates

15.9

16.6

Dividends paid

(24.2)

(17.6)

Exchange rate impact

0.9

0.7 3.0

Other 1

11.5 79.3

Balance at end of period 75.1 Includes the reclassification in “Provisions” of the share in the losses of equity-accounted associates, when this exceeds the carrying amount of the investments (1) concerned, as set out in 1.6.2.

2019 UNIVERSAL REGISTRATION DOCUMENT HERMÈS INTERNATIONAL

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