HERMÈS - 2020 Universal registration document

CONTENTS

MESSAGE FROM THE EXECUTIVE MANAGEMENT

5 6

HIGHLIGHTS 2020

1 PRESENTATION OF THE GROUP AND ITS RESULTS

AFR 5 CONSOLIDATED FINANCIAL STATEMENTS

353 354 354 355 356 357 358

9

Consolidated income statement

5.1 5.2 5.3 5.4 5.5 5.6 5.7

Six generations of craftpeople

1.1 1.2 1.3 1.4 1.5 1.6 1.7 1.8 1.9

10 13 14 17 24 26 35 38 39 40 42

Consolidated statement of comprehensive income

Group governance

Consolidated balance sheet

Strategy

Consolidated statement of changes in equity Consolidated statement of cash flows Notes to the consolidated financial statements Statutory Auditors’ report on the consolidated financial

Simplified organisation chart and Group locations

Key financial figures

AFR

Revenue and activity by métier

AFR

Revenue and activity by geographical area

AFR

statements

398

Comments on the consolidated Financial statements Significant events since the end of the financial year

AFR

AFR

Outlook 1.10

AFR 6 PARENT COMPANY FINANCIAL STATEMENTS

AFR

405 406 407 408 408 409 420 421 422

Fondation d'entreprise 1.11

Income statement for 2020

6.1 6.2 6.3 6.4 6.5 6.6 6.7 6.8 6.9

Balance sheet at 31 december 2020

Change in equity in 2020

NFPS 2 CORPORATE SOCIAL RESPONSIBILITY

45 47 61 91

Statement of cash flows for 2020 Notes to the financial statements Table of subsidiaries and affiliates

Business model People: teams

2.1 2.2 2.3 2.4 2.5 2.6 2.7 2.8 2.9

People: savoir-faire Planet: raw materials Planet: environment

Table of results over the last five financial years

108 125 163 182 198

Information on payment terms

Other information on the parent company financial

Communities: suppliers & partners

statements

423

Communities: stakeholders and local integration

Statutory Auditors’ report on the annual financial 6.10 statements

Ethics – Compliance

424

Report by one of the Statutory Auditors, appointed as an independent third party, on the consolidated non-financial information statement included in the management report

7 INFORMATION ON THE COMPANY AND ITS SHARE CAPITAL

213

429

Presentation of Hermès International and Émile Hermès

7.1

AFR 3 CORPORATE GOVERNANCE

219 221 226 226 229 240 274 282 288 291 312 319

SARL

430 441 453 454 458

Information on share capital and shareholders

Ambitious and balanced governance

7.2 7.3 7.4 7.5

AFR

Dividend policy

Supervisory Board report on corporate governance The Company’s Corporate Governance Code 3.1

AFR

Stock market information Shareholder information

Administrative and management bodies Organisation of the Supervisory Board Functioning of the Supervisory Board

3.2 3.3 3.4 3.5 3.6 3.7 3.8 3.9

8 COMBINED GENERAL MEETING OF 4 MAY 2021

463 464 466

Specialised committees

Agenda

8.1 8.2 8.3

Evaluation of the Supervisory Board and committees Compensation and benefits of corporate officers

Explanatory statements and draft resolutions

Report of the Supervisory Board to the Combined General

Other information

Meeting of 4 May 2021 Statutory Auditors’ reports

Other information from the Executive management report

497 499

8.4

AFR 4 RISKS AND CONTROL

323 324 343 344

9 ADDITIONAL INFORMATION

507

Risk factors

4.1 4.2 4.3

Persons responsible for the Universal Registration

9.1

AFR

Insurance policy and risk hedging

Document

Risk management, internal control and internal audit

508 509 509 509 511 528

Statutory Auditors

9.2 9.3 9.4 9.5 9.6

AFR

Consultation of regulatory information Information included by reference

Cross reference tables

Glossary

The sections of the Annual Financial Report are identified in the contents with the pictogram. AFR NFPS Elements constituting the statement of non-financial performance are clearly identified in the contents with the pictogram.