HERMES_REGISTRATION_DOCUMENT_2017

CONSOLIDATED FINANCIAL STATEMENTS NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

TRADE AND OTHER RECEIVABLES

NOTE 18

31/12/2017

31/12/2016

Gross

Impairment

Net

Net

In millions of euros

Trade and other receivables

261.8 227.7

5.9 0.3 5.6 0.4 0.3 6.5 -

255.9 227.4

307.2 264.5

of which:

not yet due

s

due 1

34.1 32.6

28.5 32.6

42.7 22.7

s

Tax receivables Other assets

253.4

253.0

198.4

Other non-current assets

29.2

29.0

9.5

TOTAL

577.0

570.4

537.8

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

31/12/2017

31/12/2016

Gross

Impairment

Net

Net

Under 3 months

26.7

1.5 1.1 3.0

25.2

35.4

Between 3 and 6 months

4.4 3.0

3.2

3.1 4.2

Over 6 months

(0.0)

The Group’s policy is to recommend that insurance be taken out covering accounts receivable inasmuch as local conditions permit. Consequently, the risk of non-recovery is low, as evidenced by accounts receivable impairment, which amounted to 2%of the gross value at the end of 2017 (2% end of 2016). There is no significant concentration of credit risk.

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.

5

CASH AND CASH EQUIVALENTS

NOTE 19

19.1 Change in net cash position

Impact on scope of consolidation

Exchange rate impact

31/12/2017

31/12/2016

Cash flows

Others 1

In millions of euros

Cash and cash equivalents Marketable securities 2

990.2

52.7

(38.4) (14.3) (52.8)

0.1

1.2 1,005.9

1,338.0 2,328.3

602.8 655.5 (12.3) 643.2

-

-

1,926.5

Sub-total

0.1

1.2 2,932.4

Bank overdrafts and current accounts in debit

(8.4)

0.0

(0.0)

-

(20.7)

NET CASH POSITION

2,319.8

(52.7)

0.1

1.2 2,911.7

(1) Corresponds with the mark-to-market on cash and cash equivalents. (2) Primarily invested in money market UCITS and cash equivalents maturing in less than three months.

All cash and cash equivalents have a maturity of less than three months and a sensitivity of less than 0.5%.

The gains and losses generated through disposal of marketable secu- rities during the financial year and recorded through profit or loss were equal to -€0.2 million in 2017 (versus €0.2 million in 2016). No unrea- lised gain or loss existed as at 31 December 2017.

2017 REGISTRATION DOCUMENT HERMÈS INTERNATIONAL

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