HERMÈS - 2018 Registration document

5

Consolidated financial statements Notes to the consolidated financial statements

OTHER NON-RECURRING INCOME AND EXPENSES

NOTE 7

2018

2017

Note

In millions of euros

- -

Non-recurring operating expenses

- - - - - -

Other expenses

Non-recurring operating income

52.7 52.7

Gains on asset disposals

Other products

-

TOTAL

52.7

In 2018, other non-recurring income correspond to the net gains resulting from the disposal of the premises of the former Galleria store in Hong Kong for €52.7 million.

NET FINANCIAL INCOME

NOTE 8

2018

2017

Note

In millions of euros

Income from cash and cash equivalents

13.6

7.0 1.6 3.4 8.6

Cost of gross financial debt

5.6 6.5

s s of which net income/(loss) on hedging instruments

Cost of net financial debt

19.1

Other financial income and expenses

(53.8) (55.6) (34.6)

(40.8) (57.8) (32.2)

s s of which ineffective portion of cash flow hedges

TOTAL

The ineffective portion of cash flow hedges includes +€0.7 million in over-hedging in 2018, compared with +€1.7million in over-hedging in 2017. The impact of the effective portion of the hedges recorded in equity is shown in Note 21.3.

INCOME TAX

NOTE 9

9.1 Breakdown of income tax

2018

2017

In millions of euros

Current tax Deferred tax

(729.5)

(689.6)

59.5

20.4

TOTAL

(670.0)

(669.3)

258

2018 REGISTRATION DOCUMENT HERMÈS INTERNATIONAL