HERMÈS - 2020 Universal registration document

CONSOLIDATED FINANCIAL STATEMENTS CONSOLIDATED STATEMENT OF CASH FLOWS

CONSOLIDATED STATEMENT OF CASH FLOWS

5.5

2020

2019

Notes

In millions of euros

CASH FLOWS RELATED TO OPERATING ACTIVITIES Net income attributable to owners of the parent Depreciation and amortisation of fixed assets

1,385.4

1,528.2

13, 15 and 16

271.0 243.2

236.2 211.5

Amortisation of right-of-use assets

14.1

Impairment losses

13, 14 and 15

54.3

28.5 (0.3)

Mark-to-Market financial instruments

0.6

Foreign exchange gains/(losses) on fair value adjustments

29.7 26.3

(19.0)

Change in provisions

41.0

Net income from associates

(16.1)

(15.9)

Net income attributable to non-controlling interests

24

4.1

7.0

Capital gains or losses on disposals and impact of changes in scope of consolidation

2

(89.9)

1.2

Deferred tax expense

5.4

(29.0)

Accrued expenses and income related to share-based payments

79.0 (0.1) (0.3)

87.7

Dividend income

(13.3)

Other

(0.3)

Operating cash flows

1,992.7 (350.3) 1,642.4

2,063.3

Change in working capital requirements

22.2

23.9

Change in net cash related to operating activities (A) CASH FLOWS RELATED TO INVESTING ACTIVITIES Operating investments

2,087.3

13, 15

(448.4)

(478.0)

Acquisitions of consolidated shares Acquisitions of other financial assets

2

(71.6) (36.1)

-

5

17

(89.4)

Disposals of operating assets

13, 15

0.2

0.3

Disposals of consolidated shares and impact of losses of control

2

81.4 10.0 10.8 21.4

-

Disposals of other financial assets

17

35.0 23.5 37.5

Change in payables and receivables related to investing activities

21, 29

Dividends received

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

(432.2)

(471.1)

(489.6) (198.7) (122.1)

(486.6) (202.8)

Repayment of lease liabilities

14.2

Treasury share buybacks net of disposals

(53.1)

Borrowing subscriptions Repayment of borrowings

8.2

0.0

(7.9)

(0.3)

Change in net cash related to financing activities (C) Foreign currency translation adjustment (D)

(810.2)

(742.8)

(54.6) 345.3

33.1

CHANGE IN NET CASH (A) + (B) + (C) + (D) Net cash at the beginning of the period

22.1 22.1 22.1 22.1

906.5

4,371.6 4,716.9

3,465.1 4,371.6

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

345.3

906.5

2020 UNIVERSAL REGISTRATION DOCUMENT HERMÈS INTERNATIONAL

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