HERMÈS - 2019 Universal Registration Document

CONTENTS

MESSAGE FROM THE EXECUTIVE MANAGEMENT

5 6

HIGHLIGHTS 2019

Exceptional events 292 Information on the parent company financial statements,

4.3 4.4

1 OVERVIEW OF THE GROUP

9

on accounts payable due dates, subsidiaries and associates

Stages of the Group’s history

1.1 1.2 1.3 1.4 1.5 1.6 1.7 1.8 1.9

11 15 16 18 20 28 35 38 38 39 40

292 294

Group Governance

Outlook

4.5

Key figures

AFR

Strategy

AFR 5 CONSOLIDATED FINANCIAL STATEMENTS

297 298 298 299 300 301 302

Activity by métier

AFR

Consolidated statement of income

Activity by geographic area

5.1 5.2 5.3 5.4 5.5 5.6 5.7

AFR

Consolidated statement of comprehensive income

Simplified Group organisational chart

Consolidated balance sheet

Construction

Consolidated statement of changes in equity Consolidated statement of cash flows Notes to the consolidated financial statements Statutory Auditors’ report on the consolidated financial

Fondation d’Entreprise

Significant event since the last financial year 1.10

AFR

Risk factors 1.11

AFR

Internal control and risk management procedures 1.12

AFR

statements

relating to the preparation and processing of accounting and financial information

344

64

AFR 6 PARENT COMPANY FINANCIAL STATEMENTS

351 352 353 354 354 355 366 367 368

NFPS 2 CORPORATE SOCIAL RESPONSIBILITY

67 71 81

Statement of profit or loss for 2019 Balance sheet as at 31 December 2019

6.1 6.2 6.3 6.4 6.5 6.6 6.7 6.8 6.9

Business model People: teams

2.1 2.2 2.3 2.4 2.5 2.6 2.7 2.8 2.9

Changes in equity in 2019

People: savoir-faire Planet: raw materials planet: environment

100 112 122 149 162 174

Statement of cash flows for 2019 Notes to the financial statements Table of subsidiaries and associates

Communities: suppliers & partners

Table of results over the last five financial years

Communities: stakeholders and local integration

Information on due dates

Ethics - Compliance

Statutory Auditors’ report on the annual financial

Report by one of the Statutory Auditors, appointed as an independent third party, on the consolidated non-financial information statement included in the management report

statements

369

186

7 INFORMATION ON THE COMPANY AND ITS SHARE CAPITAL

375

Presentation of Hermès International and Émile

7.1

3 CORPORATE GOVERNANCE

191

Hermès SARL

377 388 399 400 404

SUPERVISORY BOARD'S REPORT ON CORPORATE GOVERNANCE

Information on share capital and shareholders

7.2 7.3 7.4 7.5

AFR

194 194

Dividend policy

The Company’s Corporate Governance Code Organisational structure of Hermès International

3.1 3.2

Stock market information Shareholders’ information

as of 31 December 2019

196 197

Administrative and management bodies Supervisory Board: composition and conditions governing the preparation and organisation of work Compensation and benefits paid to Corporate Officers

3.3 3.4

8 COMBINED GENERAL MEETING OF 24 APRIL 2020

209 254 276 279 286

407 408 410

3.5 3.6 3.7

Agenda

8.1 8.2 8.3

Other information

Purpose and draft resolutions

Annexes

Supervisory Board report to the Combined General

Other information from the Executive Management’s report

Meeting of 24 April 2020 Statutory Auditors’ reports

437 439

8.4

AFR 4 COMMENTS ON THE FINANCIAL YEAR AND OUTLOOK

289

9 ADDITIONAL INFORMATION

447 448 449 449 449 450 457

Comments on the consolidated statement of profit or

4.1

Persons responsible for the Registration Document

9.1 9.2 9.3 9.4 9.5 9.6

AFR

loss

290

Statutory Auditors

AFR

Comments on the summary consolidated statement

4.2

Regulatory information consultation Information incorporated by reference

of cash flows

291

Cross-reference tables

Glossary

The sections of the Annual Financial Report are identified in the contents with the pictogram. AFR NFPS Elements constituting the statement of non-financial performance are clearly identified in the contents with the pictogram.