HERMÈS - 2020 Universal registration document

CONSOLIDATED FINANCIAL STATEMENTS NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

The reconciliation of the net cash position and restated net cash position indicators with the consolidated balance sheet is presented below:

2020

2019

In millions of euros

Cash and cash equivalents

4,732.7

4,384.2

Restatement of Mark-to-Market on liquidities

0.6

0.0

Bank overdrafts

(16.4)

(12.6)

NET CASH POSITION

4,716.9

4,371.6

Cash investments with maturity at outset of over 3 months

195.0

190.0

Financial liabilities 1

(8.3)

-

RESTATED NET CASH POSITION

4,903.5

4,561.6

Financial liabilities are restated for net cash from financial year 2020. Financial liabilities in 2019 amounted to €8.9 million. (1)

Adjusted free cash flow 3.4 For management purposes, the Hermès Group sees all lease payments as items affecting operating activities. IFRS 16 considers fixed lease payments as the sum of the repayment of the principal portion of the lease liability and the payment of financial interest. Consequently, the Group follows the following APM: Adjusted free cash flow: corresponds to the cash flows related to operating activities, less operating investments and the repayment of lease s liabilities recognised in accordance with IFRS 16 (aggregates in the consolidated statement of cash flows). The reconciliation of this indicator with the Group’s statement of consolidated cash flows presented in section 5.5 is as follows:

31/12/2020

31/12/2019

In millions of euros

Operating cash flows

1,992.7 (350.3) (448.4) (198.7)

2,063.3

+ Change in working capital requirements

23.9

- Operating investments

(478.0) (202.8) 1,406.4

- Repayment of lease liabilities ADJUSTED FREE CASH FLOW

5

995.3

SEGMENT INFORMATION

NOTE 4

The information below is shown after consolidation adjustments and eliminations (see Note 1.16).

Segment information by geographical area 4.1

2020

Europe (excl. France)

Asia-Pacific (excl. Japan)

France 619.6 159.2

Japan

Americas

Other

Holding

Total

In millions of euros

Revenue

953.4 833.9 2,915.4 195.4 291.7 1,289.6

959.0 108.2

-

6,389.4 1,981.4

Recurring operating income Recurring operating profitability by segment Other non-recurring income and expenses

228.6

24.6 (207.8)

25.7% 20.5% 35.0%

44.2%

23.8% 22.8%

31.0%

-

-

-

-

-

-

91.1

91.1

Operating income

159.2 221.3 813.7

195.4 291.7 1,289.6

228.6

24.6 (116.7)

2,072.5

Operating investments Non-current assets 1

38.8

30.2

68.6

43.4

-

46.0

448.4

464.5 252.5

800.7

656.1

31.0

907.2 3,925.7

Non-current assets other than deferred tax assets. (1)

2020 UNIVERSAL REGISTRATION DOCUMENT HERMÈS INTERNATIONAL

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