HERMÈS - 2020 Universal registration document

PARENT COMPANY FINANCIAL STATEMENTS NOTES TO THE FINANCIAL STATEMENTS

FREE SHARE PLANS

NOTE 13

After taking income and expenses relating to the French and foreign subsidiaries into account, the net impact of the free share plans on net income before tax was an income of €23.7 million in 2020, compared with an expense of €41.0 million in 2019.

The information relating to the free share plans is provided in section 3.5.5 of this document (Table 9.1). In 2020, operating income included a net expense of €16.3 million (compared with €19.0 million in 2019).

PROVISIONS AND IMPAIRMENT

NOTE 14

Reversals

Provisions used

Unused provisions

31/12/2019

Allocations

31/12/2020

Note

In millions of euros

Impairment

778.2 693.9

162.1

(16.1)

- - -

924.2 769.6 154.6 185.1 126.1

Financial assets

9

80.9 81.2 86.8 68.7

(5.3)

Trade and other receivables

84.3

(10.9)

Provisions for risks and expenses

350.2 223.2

(179.2) (165.7)

(72.7)

Free share plans

-

Net negative position of subsidiaries Other provisions for risks and expenses 1

72.6 54.4

5.0

(6.9) (6.6)

(65.7)

5.0

13.1

(7.0)

54.0

Other provisions for risks and expenses mainly includes retirement benefits. (1)

BREAKDOWN OF LIABILITIES BY MATURITY

NOTE 15

31/12/2020

31/12/2019

Between 1 and 5 years

< 1 year

Net amount

Net amount

In millions of euros

Financial liabilities Bank borrowings

4.9 0.9 4.0

21.7

26.6

24.3

-

0.9

0.6

Miscellaneous borrowings and financial liabilities 1

21.7

25.7 54.0 11.0 43.0

23.7

Operating liabilities

50.3 11.0 39.4

3.6

242.7

Trade and other payables

-

19.6

Tax and social-security liabilities

3.6

223.2 413.2

6

Other payables

476.8

20.1

496.9

Amounts payable to fixed asset suppliers

2.2

-

2.2

2.3

Other 2 TOTAL

474.6 532.1

20.1 45.4

494.6 577.5

410.9 680.2

Borrowings and financial liabilities correspond to funds held in trust for employees under the statutory employee profit-sharing plan. (1) Other payables correspond mainly to financial current accounts of the subsidiaries amounting to €460 million. (2)

NET CASH POSITION

NOTE 16

2020

2019

In millions of euros

Marketable securities (excluding treasury shares)

2,902.9

3,032.1

Cash at bank and in hand

712.9

434.0

Bank overdrafts

(0.9)

(0.3)

NET CASH POSITION

3,614.9

3,465.8

Treasury shares are excluded from the marketable securities presented in net cash position.

2020 UNIVERSAL REGISTRATION DOCUMENT HERMÈS INTERNATIONAL

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