HERMES_REGISTRATION_DOCUMENT_2017

6

PARENT COMPANY FINANCIAL STATEMENTS

NOTE TO THE FINANCIAL STATEMENTS

15.1.2. Analysis of currency agreements Hedging operations areperformedover-the-counter, exclusivelywith leading banks. TheCompany thereforedoes not incur any significant counterparty risk.

Nominal amounts of derivatives used to hedge foreign exchange risk

Market value of the contracts as at 31/12/2017 1

Nominal amounts of derivatives

In millions of euros

Options purchased US dollar put US dollar collar Japanese yen put Japanese yen collar Hong Kong dollar put Hong Kong dollar collar Singapore dollar put Singapore dollar collar Chinese yuan put Chinese yuan collar

34.0

34.0

3.3

135.9

135.9

12.8

23.1

23.1

2.1

115.6

115.6

10.2

22.5 90.1 16.2

22.5 90.1 16.2

2.2 8.6 0.9 5.4 0.9 4.8

113.1

113.1

12.2 85.5

12.2 85.5

648.2

648.2

51.4

Forward currency agreements 2 US dollar

(154.6) (129.1) (107.8) (120.3)

(154.6) (129.1) (107.8) (120.3)

(11.1) (11.1)

Yen

Hong Kong dollar Singapore dollar

(8.6) (3.8) (0.0)

Yuan

(89.9)

(91.8)

Swiss franc

8.5 3.7 1.6 2.7 1.7 0.8

8.5 3.7 1.6 2.7 1.7 0.8

0.6 0.0 0.1 0.1 0.0 0.0

Pound sterling Australian dollar

Brazilian real

Canadian dollar

Other

(582.7)

(584.7)

(33.7)

Currency swaps 2 US dollar

(156.8)

(164.8)

(1.3)

Yen

3.8 1.4 3.5 5.8 3.9 0.3 4.0 0.5 0.3

1.1 1.4 3.4 3.5

0.0 0.0 0.0 0.0 0.0 0.3

Hong Kong dollar Singapore dollar

Yuan

Swiss franc

(0.2)

Pound sterling Australian dollar Danish krone Canadian dollar

(80.6)

(86.8)

0.4 3.7 0.5

(0.0)

0.0

(0.0)

Other

(0.4)

0.0

(213.8) (148.4)

(238.1) (174.6)

(0.8) 16.8

TOTAL

(1) Gain/(Loss). (2) (Purchase)/Sale.

262

2017 REGISTRATION DOCUMENT HERMÈS INTERNATIONAL