HERMÈS - 2018 Registration document

Consolidated financial statements Notes to the consolidated financial statements

TRADE PAYABLES AND OTHER LIABILITIES

NOTE 27

Other current and non-current liabilities mainly consist of tax and social security liabilities. The breakdown is as follows:

31/12/2018

31/12/2017

In millions of euros

Accounts payable

417.1

425.8

Amounts payable to fixed asset suppliers

50.9

55.2

Trade and other payables Current tax liabilities Other current liabilities Other non-current liabilities

468.0 314.6 574.4 113.6

481.0 141.1 528.8

99.5

TRADE PAYABLES AND OTHER LIABILITIES

1,470.6

1,250.5

OFF-BALANCE SHEET COMMITMENTS, CONTINGENT ASSETS AND CONTINGENT LIABILITIES

NOTE 28

28.1 Financial commitments

Financial commitments were discounted at the rate of 8.67% in 2018 (7.88% in 2017).

< 1 year

1 to 5 years

> 5 years

31/12/2018

31/12/2017

In millions of euros

Bank guarantees given Bank guarantees received

2.0

4.0 0.2

2.0 4.0

8.0 4.2

11.6

- -

0.2

Commitments to purchase financial assets

14.3 69.3

10.2

24.5

25.4

5

Other commitments

52.0

-

121.3

109.7

The future non-cancellable commitments of discounted minimum payments resulting from operating leases can be analysed as follows:

< 1 year

1 to 5 years

> 5 years

31/12/2018

31/12/2017

In millions of euros

Minimum future payments - Stores

109.5

336.8

262.2

708.5

801.0

Minimum future payments - Admin and logistics buildings

24.4

90.7

71.5

186.7 895.2

196.3 997.3

TOTAL

133.9

427.5

333.8

28.2 Other off-balance sheet commitments The Group has no knowledge of any commitments other than those mentioned elsewhere herein and that are not reflected in the financial statements for the year ended 31 December 2018. To date, there is no exceptional event or dispute that would be liable to have a likely and material impact on the Group’s financial position.

Furthermore, in the normal course of its business operations, the Group is involved in legal actions and is subject to controls. A provision is recorded when a risk is identified and when its cost can be estimated.

2018 REGISTRATION DOCUMENT HERMÈS INTERNATIONAL

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