HERMES_REGISTRATION_DOCUMENT_2017

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PARENT COMPANY FINANCIAL STATEMENTS

NOTE TO THE FINANCIAL STATEMENTS

15.2 Other financial commitments as of 31 December 2017

31/12/2017

31/12/2016

In millions of euros

Bank guarantees given 1

0.6

0.7

Irrevocable commitments to purchase financial assets

23.5

21.6

119.2 143.3

157.3 179.6

Other commitments 2

TOTAL

(1) The guarantees assumed on behalf of subsidiaries are re-invoiced to the beneficiary subsidiaries. (2) The other commitments primarily relate to lease payments by Hermès International or by subsidiaries, for which Hermès International is the guarantor.

As at 31 December 2017, the amounts drawn on these credit facilities amounted to €5 million and €27 million, respectively. Also,theamountofthesubsidiaries’tax lossesthatHermèsInternational is liable for refunding to its subsidiaries under the Group tax consolida- tion agreement amounted to €149.1 million as at 31 December 2017, versus €132.6 million as at 31 December 2016.

Moreover, two “umbrella” sureties have been granted to the HSBC and BNP Paribas banks for a maximum amount of €75 million and €100 mil- lion to give subsidiaries designatedbyHermès International access to an aggregate group banking facility. The amounts drawn by the subsidiaries are re-invoiced on the basis of a rate that aligns with the market banking conditions.

EMPLOYEES

NOTE 16

The Company’s average number of employees is broken down as follows:

31/12/2017

31/12/2016

Executives and managers Non-management staff

367

355

32

29

TOTAL

399

384

are now attached to each employee and follow employees throughout their working lives, irrespective of employer.

As part of the reformof professional training, the individual training entit- lement has been replaced by the personal training account with effect from 1 January 2015. Entitlements under the personal training account

264

2017 REGISTRATION DOCUMENT HERMÈS INTERNATIONAL