Hermès // 2021 Universal Registration Document
CONSOLIDATED FINANCIAL STATEMENTS NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Change at current exchange rate
Change at constant exchange rates
2021
2020
In millions of euros
Leather Goods & Saddlery Ready-to-wear and Accessories
4,091 2,219
3,209 1,409
27% 58% 48% 56% 46% 72% 28% 41%
29% 59% 49% 57% 47% 73% 29% 42%
Silk and Textiles
669
452 643 263 196 218
Other Hermès sectors Perfume and Beauty
1,001
385 337 279
Watches
Other products
REVENUE
8,982
6,389
Sales and administrative expenses 4.2
2021
2020
In millions of euros Communication
(421)
(279)
Other sales and administrative expenses
(1,715) (2,137)
(1,420) (1,699)
TOTAL
Other income and expenses 4.3
2021
2020
Note
In millions of euros
Depreciation and amortisation of fixed assets
(263) (249) (512)
(227) (241) (468)
Amortisation of right-of-use assets Depreciation and amortisation
5
Net change in provisions
(19) (18) (37) (65)
(16) (18) (33) (54)
Cost of pension plans and other long-term benefits
5.3
Sub-total
Impairment losses
Expenses related to free share allocation plans and similar expenses
5.4
(122)
(118)
Other expenses Other products
(26)
(76)
28
52
Sub-total
(186) (734)
(195) (696)
TOTAL
Total amortisation of rights-of-use included in operating expenses (“Other income and expenses” and “Cost of sales”) amounted to €251 million in 2021, compared with €243 million in 2020.
In 2021 and in 2020, other expenses include donations of respectively €7 million and €20 million to AP-HP (the Parisian public hospital system). Total depreciation and amortisation of fixed assets included in operating expenses (“Other income and expenses” and “Cost of sales”) amounted to €312 million in 2021, compared with €271 million in 2020.
Other non-recurring income and expenses 4.4 In 2020, other non-recurring income corresponded to the income resulting from the deconsolidation of Shang Xia for €91 million.
2021 UNIVERSAL REGISTRATION DOCUMENT HERMÈS INTERNATIONAL
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