HERMÈS - 2020 Universal registration document

CONSOLIDATED FINANCIAL STATEMENTS NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

INVESTMENT PROPERTY

NOTE 16

Exchange rate impact

31/12/2019

Increases

Decreases

Other

31/12/2020

In millions of euros

Land

30.7 72.8

0.0

- - - - -

(1.5) (3.5) (5.0) (1.1) (3.8)

0.1 2.3 2.3 1.0 1.3

29.3 71.6

Buildings

-

TOTAL GROSS VALUES

103.4

0.0 2.2

100.8

Depreciation

25.4 78.0

27.5 73.3

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 totalled €7.0 million in the financial year (compared with €8.9 million in 2019).

FINANCIAL ASSETS

NOTE 17

Exchange rate impact

Increases 1

Other 2

31/12/2019

Decreases

31/12/2020

In millions of euros

Financial investments and accrued interest

333.9

15.0

(10.0)

- -

- -

338.9

Liquidity contract

12.0 44.3

2.0

-

14.0 63.5

Other financial assets TOTAL GROSS VALUES

20.2 37.2 15.8 21.4

(0.1)

(1.0) (1.0)

0.0 0.0

390.2

(10.1)

416.3

Impairment

32.8

(0.0)

0.0

-

48.6

TOTAL NET VALUES 367.7 The increase in financial investments corresponds to cash investments that do not meet the criteria for cash equivalents, notably on account of their original maturity (1) of 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 1.11. 357.4 (10.1) (1.0) 0.0

5

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

INVESTMENTS IN ASSOCIATES

NOTE 18

2020 79.3

2019 75.1

In millions of euros

Balance as at 1 January

Impact of changes in scope of consolidation 1

(28.7)

-

Net income from associates

16.1

15.9

Dividends paid

(21.4)

(24.2)

Exchange rate impact

(2.3)

0.9

5.8

11.5 79.3

Other 2

BALANCE AT END OF PERIOD

48.8

Hermès' stake in J3L has been fully consolidated since July 2020. (1) Includes the reclassification to “Provisions” of the share in the losses of equity-accounted associates, when this exceeds the carrying amount of the investments (2) concerned, as set out in 1.7.2.

2020 UNIVERSAL REGISTRATION DOCUMENT HERMÈS INTERNATIONAL

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