HERMÈS - 2018 Registration document

Consolidated financial statements Notes to the consolidated financial statements

As at 31/12/2017

< 1 year

1 to 5 years

> 5 years

TOTAL

Floating rate

Fixed rate

In millions of euros

Financial assets

2,931.9 2,230.1

- - - - - -

- - - - - - - - - - - -

2,931.9 2,230.1

1,082.3

1,849.6 1,562.6

Euro Yuan

667.5

108.8 166.7

108.8 166.7

19.8

89.0

US dollar

161.7

5.0

Yen

52.4

52.4

52.4

-

Other

374.0

374.0

181.0

193.0

30.1 21.0

2.6 1.0

32.8 22.0

31.6 20.9

1.1 1.1

Financial liabilities 1

Euro

Yen

-

-

-

-

- -

9.1

1.6

10.7

10.7

Other 2

Net cash position before hedging Net cash position after hedging

2,901.7 2,901.7

(2.6) (2.6)

2,899.1 2,899.1

1,050.6 1,050.6

1,848.5 1,848.5

(1) Excluding commitments to acquire non-controlling interests (€20.9 million as at 31 December 2017). (2) Mainly consists of long-term amortisable floating-rate loans taken out by Hermès India Retail and Distributors, floating-rate loans taken out by Hermès Brazil and foreign subsidiaries’ bank overdrafts.

As at 31/12/2017

< 1 year

1 to 5 years

> 5 years

TOTAL

Floating rate

Fixed rate

In millions of euros

Financial assets

2,931.9 2,931.9

- -

- - - - - - - -

2,931.9 2,931.9

1,082.3 1,082.3

1,849.6 1,849.6

Cash and cash equivalents

30.1

2.6 2.6

32.8 12.1 20.7

31.6 11.3 20.3

1.1 0.7 0.4

Financial liabilities 1

Medium- and long-term financial debt Bank overdrafts and short-term debt

9.4

5

20.7

- -

Current accounts in debit

-

-

-

-

Net cash position before hedging Net cash position after hedging

2,901.7 2,901.7

(2.6) (2.6)

2,899.1 2,899.1

1,050.6 1,050.6

1,848.5 1,848.5

(1) Excluding commitments to acquire non-controlling interests (€20.9 million as at 31 December 2017).

The market value of investments is equivalent to their carrying amount. Financial liabilities do not include the liability associated with employee profit-sharing, which is included in “Other liabilities”.

23.3.1 Equity risk Investments in equities are not material at Group level. As such, the Group has no exposure to equity risk. 23.3.2 Sensitivity to interest rate fluctuations A uniform1 percentage point increase in interest rates would have had a positive impact of €11.7 million on the consolidated net income before tax (€10.5 million in 2017).

2018 REGISTRATION DOCUMENT HERMÈS INTERNATIONAL

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