Hermès // 2022 UNIVERSAL REGISTRATION DOCUMENT

CONSOLIDATED FINANCIAL STATEMENTS NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

2021

Assets at fair value through profit or loss 1

Financial assets at fair value through non‑recyclable equity

Financial assets at amortised cost

Liabilities at amortised cost

Liabilities at fair value 1

Net carrying amount

Fair value

Evaluation level

Note

In millions of euros

2

Financial investments

30

345

203

-

-

578 578

2

Liquidity contract

19

-

-

-

-

19

19

1

Other financial assets

-

-

20

-

-

20

20

2

Financial assets

9.2

49

345

223

-

-

617 617

Loans and deposits

-

59

-

-

-

59

59

2

Trade receivables and other current assets

4.4.2

-

670

-

-

-

670 670

-

Foreign currency derivative assets

10.2

53

-

-

-

-

53

53

2

Cash and cash equivalents

9.3

3,055

3,641

-

-

-

6,696 6,696

1

Bank overdrafts

9.3

-

-

-

-

1

1

1

-

Other borrowings

9.3

-

-

-

-

0

0

0

-

3

Financial liabilities

1

1

1

-

-

-

-

Trade payables and other liabilities

4.4.3

-

-

-

-

(2,094)

(2,094) (2,094)

-

Foreign currency derivative liabilities

10.2

-

-

-

(122)

-

(122)

(122)

2

(1) Before hedge accounting. (2) Comprised of EMTNs and term deposits not meeting the criteria of cash and cash equivalents. (3) Excluding commitments to buy‑out non‑controlling interests (€24 million as at 31December 2021).

EQUITY – EARNINGS PER SHARE

NOTE 11

11.2 Capital management The Group’s objectives, policies and procedures in the area of capital management are in keeping with sound management principles designed to ensure that operations are well‑balanced financially and to minimise the use of debt. As its surplus cash position gives it some flexibility, the Group does not use prudential ratios such as “return on equity” in its capital management. During the current year, the Group made no change in its capital management policy and objectives.

11.1 Share capital As at 31December 2022, Hermès International’s share capital consisted of 105,569,412 fully paid‑up shares with a par value of €0.51 each, of which 108,472 treasury shares.

5

11.3 Treasury shares

Accounting principles Treasury shares are recorded at acquisition cost and deducted from equity. Gains or losses on the disposal of these shares are recognised directly in equity, with no impact on profit or loss.

In financial year 2022, the following treasury share movements occurred: buyback of 104,269 shares for €116 million, excluding movements under the liquidity contract; s

It is specified that no shares are reserved for issuance under options or agreements to sell shares. buyback of 4,467 shares as part of the liquidity contract; s delivery of 264 free shares reserved for Hermès Group employees. s

2022 UNIVERSAL REGISTRATION DOCUMENT HERMÈS INTERNATIONAL

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