Hermès // 2022 UNIVERSAL REGISTRATION DOCUMENT

CONSOLIDATED FINANCIAL STATEMENTS NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

7.3.2 LEASE LIABILITIES The maturities of the lease liabilities are as follows:

> 5 years

< 1 year

1 to 5 years

€1,897M (31/12/2021: €1,777M) TOTAL 31/12/2022

€268M

€882M

€747M

< 1 year

1 to 5 years

> 5 years 31/12/2022 31/12/2021

In millions of euros

TOTAL LEASE LIABILITIES

268

882

747

1,897

1,777

The breakdown of changes in liabilities over the financial year is as follows:

31/12/2022

31/12/2021

In millions of euros

Lease liabilities as at 1January

1,777

1,643

Implementation of new leases and revisions Expiry and early termination of leases

350 (10)

269

(8)

Repayments

(261)

(212)

Exchange rate impact

43 (2)

91 (5)

Other movements and reclassifications LEASE LIABILITIES AS AT 31DECEMBER

1,897

1,777

7.3.3 UNFUNDED RENTS At the end of December 2022, the rents resulting from non‑capitalised leases correspond to: store rents, for which variable payments amounted to €472 million for the financial year (compared to €376 million for financial year 2021); s

Financial expenses relating to lease liabilities are presented in note 9.1. exempted rents (leases corresponding to assets with a low unit value or a term of less than 12 months) in the amount of €7 million (compared with €7 million in 2021). s

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