HERMÈS - 2018 Registration document

5

Consolidated financial statements Notes to the consolidated financial statements

INVENTORIES AND WORK-IN-PROGRESS

NOTE 18

31/12/2018

31/12/2017

Gross

Impairment

Net

Gross

Impairment

Net

In millions of euros

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

1,030.8

422.1 245.3 667.4

608.7 354.9 963.6

947.3 571.0

412.8 209.2 622.1

534.4 361.8 896.2

600.2

TOTAL

1,631.0

1,518.3

Net income/(expense) from impairment of retail, intermediate and finished goods Net income/(expense) from impairment of raw materials and work in progress

-

(5.0)

-

-

14.8

-

-

(34.5)

-

-

1.2

-

No inventories were offered as collateral to secure financial debt.

TRADE AND OTHER RECEIVABLES

NOTE 19

31/12/2018

31/12/2017

Gross

Impairment

Net

Net

In millions of euros

Trade and other receivables

286.2 250.6

5.5 0.4 5.1 0.1 0.3 6.0 -

280.7 250.2

255.9 227.4

of which:

not yet due

s s

due 1

35.6 17.9

30.5 17.9

28.5 32.6

s s

Tax receivables Other assets

206.7

206.5

253.0

Other non-current assets

22.3

22.0

29.0

TOTAL

533.0

527.1

570.4

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

31/12/2018

31/12/2017

Gross

Impairment

Net

Net

Under 3 months

29.4

1.4 0.4 3.3 5.1

28.1

25.2

Between 3 and 6 months

2.8 3.3

2.4

3.2

Over 6 months

(0.0) 28.5

TOTAL

35.6

30.5

With the exception of other non-current receivables, 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, the expected risk of non-recovery is low, as evidenced by accounts recei- vable impairment, which amounted to 2% of the gross value at the end of 2018 (2% at end of 2017). There is no significant concentration of credit risk.

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2018 REGISTRATION DOCUMENT HERMÈS INTERNATIONAL