HERMES_REGISTRATION_DOCUMENT_2017
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CONSOLIDATED FINANCIAL STATEMENTS NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As at 31/12/2016
< 1 year
1 to 5 years
> 5 years
Total
Floating rate
Fixed rate
In millions of euros
Financial assets
2,328.9 1,772.0
- - - - - -
- - - - - -
2,328.9 1,772.0
2,153.9 1,597.0
175.0 175.0
Euro Yuan
72.9
72.9
72.9
- - - -
US dollar
139.3
139.3
139.3
Yen
21.0
21.0
21.0
Other
323.7
323.7
323.7
20.2
1.6 0.9
1.1
23.0
20.7
2.3 0.5
Financial liabilities 1
Euro
8.8 0.1
- -
9.7 0.1
9.2 0.1
Yen
-
11.4
0.7
1.1
13.2
11.3
1.8
Other 2
Net cash position before hedging Net cash position after hedging
2,308.7 2,308.7
(1.6) (1.6)
(1.1) (1.1)
2,305.9 2,305.9
2,133.3 2,133.3
172.7 172.7
As at 31/12/2016
< 1 year
1 to 5 years
> 5 years
Total
Floating rate
Fixed rate
In millions of euros
Financial assets
2,328.9 2,328.9
- -
- -
2,328.9 2,328.9
2,153.9 2,153.9
175.0 175.0
Cash and cash equivalents
20.2
1.6 1.6
1.1 1.1
23.0
20.7
2.3 1.1 1.2
Financial liabilities 1
Medium- and long-term financial debt Bank overdrafts and short-term debt
-
2.7
1.6 1.9
20.2
- -
- -
20.2
Current accounts in debit
-
-
-
Net cash position before hedging Net cash position after hedging
2,308.7 2,308.7
(1.6) (1.6)
(1.1) (1.1)
2,305.9 2,305.9
2,133.3 2,133.3
172.7 172.7
(1) Excluding commitments to acquire non-controlling interests (€18.0 million as at 31 December 2016). (2) Mainly consists of long-term amortisable fixed-rate loans taken out by Hermès India Retail and Distributors, floating-rate loans taken out by Hermès Brazil and foreign subsidiaries’ bank overdrafts.
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”.
22.3.1 Equity risk Investments in equities are not material at Group level. As such, the Group has no exposure to equity risk. 22.3.2 Sensitivity to interest rate fluctuations A uniform1 percentage point increase in interest rates would have had a positive impact of €10.5 million on the consolidated net income before tax (€21.3 million in 2016).
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2017 REGISTRATION DOCUMENT HERMÈS INTERNATIONAL
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