Hermès // 2022 UNIVERSAL REGISTRATION DOCUMENT

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PARENT COMPANY FINANCIAL STATEMENTS NOTES TO THE FINANCIAL STATEMENTS

CHANGE IN METHOD

NOTE 1

Hermès International did not apply any change in method during the 2022 financial year.

OPERATING ITEMS

NOTE 2

2.1 Operating income

Accounting principles Revenue consists of royalties from brands and the provision of services. Royalties are calculated based on the production subsidiaries’ revenue. Services are primarily amounts charged back to subsidiaries for advertising and public relations costs, rent, staff provided on secondment, insurance and professional fees.

Expense transfers correspond mainly to the costs of free share plans allocated and re‑invoiced to employees of subsidiaries (see note 3.4).

2022

2021

In millions of euros

Revenue

479

396

Other products

1

1

Reversals of provisions

57

1

Expense transfers

40

46

OPERATING INCOME

577

443

2.2 Operating expenses

Note

2022

2021

In millions of euros

Other purchases and external expenses

(188)

(158)

Tax and duties

(12)

(14)

Compensation and other personnel costs

3.2

(139)

(113)

Depreciation, amortisation and provisions

6/10.1

(79)

(77)

Other expenses

(3)

(2)

OPERATING EXPENSES

(421)

(364)

2022 UNIVERSAL REGISTRATION DOCUMENT HERMÈS INTERNATIONAL

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