Hermès // 2022 UNIVERSAL REGISTRATION DOCUMENT
CONTENTS
5 6
MESSAGE FROM THE EXECUTIVE MANAGEMENT HIGHLIGHTS 2022
4
1
PRESENTATION OF THE GROUP AND ITS RESULTS
RISK FACTORS AND MANAGEMENT
365 366 385 386 397 398 398 399 400 401 402
AFR
9
4.1 4.2 4.3
Risk factors
1.1 1.2 1.3 1.4 1.5 1.6 1.7 1.8 1.9
Six generations of craftspeople
10 13 14 17 23 26 35 39 40 41 43
Insurance policy and risk hedging
Group governance
Risk management, internal control and internal audit
Strategy
Simplified organisation chart and Group locations
5
CONSOLIDATED FINANCIAL STATEMENTS
AFR
Key financial and non ટ financial figures
AFR AFR AFR AFR AFR AFR
5.1 5.2 5.3 5.4 5.5 5.6 5.7
Consolidated income statement
Revenue and activity by métier
Consolidated statement of comprehensive income
Revenue and activity by geographical area
Consolidated balance sheet
Comments on the consolidated financial statements Significant events since the end of the financial year
Consolidated statement of changes in equity Consolidated statement of cash flows Notes to the consolidated financial statements
1.10 Outlook
1.11 Fondation d’entreprise
Statutory Auditors' report on the consolidated financial statements
442
2 NFPS
CORPORATE SOCIAL RESPONSIBILITY AND NON ટ FINANCIAL PERFORMANCE
45 49 67 95
6
PARENT COMPANY FINANCIAL STATEMENTS
AFR
2.1 2.2 2.3 2.4 2.5 2.6 2.7 2.8 2.9
Business model People: teams People: savoir ટ faire
449 450 451 452 452 453 468 469
6.1 6.2 6.3 6.4 6.5 6.6 6.7 6.8
Income statement
Balance sheet
The planet: raw materials The planet: environment
113 143 183 197 227
Changes in equity
Statement of cash flows
Communities: suppliers & partners
Notes to the financial statements Table of results over the last five years
Communities: stakeholders and transparency
Ethics – Compliance
Information on payment terms
Report of one of the Statutory Auditors, appointed as independent third party, on the verification of the consolidated non ટ financial statement 2.10 Reasonable assurance report from one of the Statutory Auditors on the Identified Sustainability Information of Hermès International’s non ટ financial performance statement
Other information on the parent company financial statements
470
243
6.9
Statutory Auditors' report on the annual financial statements
471
250
7
INFORMATION ON THE COMPANY AND ITS SHARE CAPITAL
477 478 488 499 500 504
3
CORPORATE GOVERNANCE
253 255 255 259 262 274 309 319 326 330 355
7.1 7.2 7.3 7.4 7.5
Presentation of Hermès International
AFR
Information on share capital and shareholders
Supervisory Board corporate governance report The Company’s Corporate Governance Code
AFR
AFR
Dividend policy
3.1 3.2 3.3 3.4 3.5 3.6 3.7 3.8 3.9
Stock market information Shareholder information
Ambitious and balanced governance Administrative and management bodies Organisation of the Supervisory Board Functioning of the Supervisory Board
8
COMBINED GENERAL MEETING OF 20 APRIL 2023
Specialised committees
509 510 512
Evaluation of the Supervisory Board and Committees Compensation and benefits of Corporate Officers
8.1 8.2 8.3
Agenda
Explanatory statements and draft resolutions Supervisory Board report to the Combined General Meeting of 20 April 2023
Other information
3.10 Other information from the Executive Management report
545 547
362
8.4
Statutory Auditors' reports
9
ADDITIONAL INFORMATION
557
9.1
Persons responsible for the Universal Registration Document Persons responsible for auditing the financial statements
AFR
558 559 559 560 562 579
9.2 9.3 9.4 9.5 9.6
AFR
Consultation of regulatory information Information included by reference
Cross ટ reference tables
Glossary
The sections of the Annual Financial Report are identified in the contents with the AFR pictogram. Elements constituting the statement of non-financial performance are clearly identified in the contents with the NFPS pictogram.
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