HERMÈS - 2020 Universal registration document

5

CONSOLIDATED FINANCIAL STATEMENTS NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

LOANS AND DEPOSITS

NOTE 19

Exchange rate impact

31/12/2019

Increases

Decreases

Other (3.9)

31/12/2020

In millions of euros

Loans and deposits 1

77.4 19.3 58.1

14.1

(5.7) (0.5) (5.2)

(2.3)

79.6 23.6 55.9

Impairment

1.8

0.1

3.0

TOTAL

12.3

(2.4)

(6.9)

Security deposits amounted to €54.3 million as at 31 December 2020, compared with €56.1 million as at 31 December 2019. (1)

INVENTORIES AND WORK-IN-PROGRESS

NOTE 20

31/12/2020

31/12/2019

Gross

Impairment

Net

Gross

Impairment

Net

In millions of euros

Retail, intermediate and finished goods Raw materials and work-in-progress

1,354.8

517.4 297.8

837.5 1,206.5

453.9 264.0

752.6 380.0

749.7

451.9

644.0

TOTAL

2,104.5

815.1 1,289.4 1,850.4

717.8 1,132.6

Net impairment gain/(loss) on retail, intermediate and finished goods inventories Net impairment gain/(loss) on impairment of raw materials and work in progress

-

(84.8)

-

-

(26.4)

-

-

(32.3)

-

-

(17.4)

-

No inventories were pledged as collateral to secure financial liabilities.

TRADE RECEIVABLES AND OTHER ASSETS

NOTE 21

31/12/2020

31/12/2019

Gross

Impairment

Net

Net

In millions of euros

Trade and other receivables

255.9 136.4 119.5

6.2

249.7 136.4 113.3

317.9 288.1

of which:

not yet due s

-

due 1 s

6.2

29.8 20.7

Current tax receivables

63.5

-

63.5

Other assets

193.2

0.0 0.0 6.2

193.1

198.6

Other non-current assets

24.2

23.9

10.5

TOTAL

536.8

530.2

547.8

The amount of trade and other receivables due is broken down as follows: (1)

31/12/2020

31/12/2019

Gross

Impairment

Net

Net

Under 3 months

106.6

1.0 0.3 4.9 6.2

105.6

28.9

Between 3 and 6 months

2.9

2.6 5.2

0.9

Over 6 months

10.1

-

TOTAL

119.5

113.3

29.8

the expected risk of non-recovery is low, as evidenced by the level of impairment of trade receivables, which amounted to 2.4% of the gross value at the end of 2020 (2.0% at end of 2019). There is no significant concentration of credit risk.

With the exception of other non-current assets, all receivables are due within one year. There were no significant payment deferrals that would justify the discounting of receivables. The Group’s policy is to recommend that insurance be taken out covering accounts receivable inasmuch as local conditions permit. Consequently,

Customer risk was not significantly affected by the health crisis.

378 2020 UNIVERSAL REGISTRATION DOCUMENT HERMÈS INTERNATIONAL