HERMÈS - 2020 Universal registration document

PARENT COMPANY FINANCIAL STATEMENTS NOTES TO THE FINANCIAL STATEMENTS

AVERAGE NUMBER OF EMPLOYEES

NOTE 20

The Company’s average number of employees breaks down as follows:

31/12/2020

31/12/2019

Executives and managers Non-management staff

453

414

44

34

TOTAL

497

448

POST-EMPLOYMENT BENEFIT OBLIGATIONS

NOTE 21

actuarial gains and losses (€63.2 million) plus past service costs (€12.9 million). For the 2020 financial year, the following actuarial assumptions were used:

As at 31 December 2020, the value of post-employment benefit obligations amounted to €132 million versus €125.8 million as at 31 December 2019. This commitment is pre-financed in the amount of €5 million with an insurance company. After applying the “corridor” method, actuarial gains and losses amounted to €63.2 million as at 31 December 2020 compared with €67.4 million as at 31 December 2019. The provision recorded at end-December 2020 amounted to €50.9 million and corresponds to the total value of the commitment (€132 million), less the fair value of pension assets (€5 million), and

retirement age: s

62 to 65 years

increase in salaries: s

3 to 4%

discount rate: s

0.3% to 0.6% 1.75% to 2.5%

expected rate of return on plan assets: s

COMPENSATION OF CORPORATE OFFICERS

NOTE 22

Gross aggregate compensation paid to Corporate Officers in respect of financial year 2020 amounted to €5.3 million, including €0.6 million related to the compensation of members of the Supervisory Board.

SUBSEQUENT EVENTS

NOTE 23

None .

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2020 UNIVERSAL REGISTRATION DOCUMENT HERMÈS INTERNATIONAL

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