Hermès // 2022 UNIVERSAL REGISTRATION DOCUMENT

6

PARENT COMPANY FINANCIAL STATEMENTS CHANGES IN EQUITY

6.3 CHANGES IN EQUITY

Legal reserve, other reserves, and retained earnings

Number of shares

Share, merger or contribution premiums

Net income for the

In millions of euros

outstanding Share capital

financial year Regulated provisions

Equity

Note

9

9

As at 31December 2020 before allocation of net income

105,569,412

54

50

4,102

1,343

0

5,549

Allocation of net income 2020

-

-

-

1,343

(1,343)

-

-

Dividends paid in respect of the financial year

-

-

-

(485)

-

-

(485)

Net income for financial year 2021

-

-

-

-

1,165

-

1,165

Other changes

-

-

-

(69)

-

0

(69)

As at 31December 2021 before allocation of net income

105,569,412

54

50

4,891

1,165

0

6,160

Allocation of net income 2021

-

-

-

1,165

(1,165)

-

-

Dividends paid in respect of the financial year

-

-

-

(845)

-

-

(845)

Net income for financial year 2022

-

-

-

-

2,529

-

2,529

Other changes

-

-

-

-

-

(0)

(0)

Balance as at 31December 2022 before allocation of net income

105,569,412

54

50

5,212

2,529

0

7,844

6.4 STATEMENT OF CASH FLOWS

In millions of euros

Note

2022

2021

Net income

2,529

1,165

Depreciation and amortisation

25

22

Change in provisions and impairment

80

121

Capital gains/(losses) on disposals

1

73

Operating cash flows

2,635

1,381

Change in trade and other receivables

(31)

503

Change in trade and other payables

187

591

Change in working capital requirements

156

1,094

Net cash flows from operating activities

2,791

2,475

Acquisitions of property, plant and equipment and intangible assets

6

(29)

(37)

Acquisitions of investment securities

7.2

(28)

(180)

Acquisitions of other financial assets

7.2

(145)

(185)

Disposals of property, plant and equipment and intangible assets

0

0

Proceeds from disposal of investment securities

1

4

Proceeds from disposal of other financial assets

7.2

5

0

Change in receivables and payables related to fixed assets

(1)

0

Net cash flows from investing activities

(197)

(398)

Dividends paid

(845)

(485)

Treasury share buybacks net of disposals

(120)

(157)

Net cash flows from financing activities

(965)

(642)

CHANGE IN NET CASH POSITION

1,630

1,435

Net cash at the beginning of the period

7.5

5,050

3,615

Net cash at the end of the period

7.5

6,680

5,050

CHANGE IN NET CASH POSITION

1,630

1,435

2022 UNIVERSAL REGISTRATION DOCUMENT HERMÈS INTERNATIONAL

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