Hermès // 2021 Universal Registration Document

5

CONSOLIDATED FINANCIAL STATEMENTS NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

Dividends 11.4 The General Meeting of 4 May 2021, called to approve the financial statements for the year ended 31 December 2020, approved payment of an ordinary dividend of €4.55 per share for the financial year, i.e. an identical distribution to that of the previous year.

Taking into account the interim cash dividend of €1.50 per share paid on 4 March 2021, a balance of €3.05 was paid in cash on 10 May 2021. The total amount of the ordinary dividend paid was accordingly €476 million.

Income and expenses recognised in comprehensive income 11.5 Income and expenses recognised directly in other comprehensive income in 2021 are as follows:

Gross impact

Tax impact

Net impact

Note 5.3.3

In millions of euros

Actuarial gains and losses Foreign currency adjustments Revaluation adjustments

12

(2)

9

141 (85)

-

141 (23) 128

62

TOTAL

For 2020:

Gross impact

Tax impact

Net impact

Note 5.3.3

In millions of euros

Actuarial gains and losses Foreign currency adjustments Revaluation adjustments

(2)

1

(2)

(103)

-

(103)

77

(22)

55

TOTAL

(50)

2021 movements in derivatives (cash flow hedges in foreign currencies) and financial investments break down as follows (after tax):

2021 105 (38) (87)

2020

In millions of euros

Revaluation adjustments as at 1 January

51 35 36

Amount transferred to equity in the year in respect of derivatives

Revaluation of derivatives

Revaluation of financial investments

87 15 83

-

Other deferred foreign exchange gains/(losses) recognised in comprehensive income

(17) 105

REVALUATION ADJUSTMENTS AS AT 31 DECEMBER

Earnings per share 11.6

Accounting principles Basic earnings per share are calculated by dividing the net income attributable to owners of the parent by the weighted average number of ordinary shares outstanding during the financial year, less the average number of shares held by Hermès International (treasury shares).

Diluted earnings per share corresponds to the ratio between the net income attributable to owners of the parent and the weighted average number of shares outstanding during the financial year, excluding the shares held by Hermès International (treasury shares), adjusted for the dilutive effect generated by the allocation of free shares.

398 2021 UNIVERSAL REGISTRATION DOCUMENT HERMÈS INTERNATIONAL