Hermès // CSR Extract 2023

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MESSAGE FROM THE EXECUTIVE MANAGEMENT4
HIGHLIGHTS 20236
1. PRESENTATION OF THE GROUP AND ITS RESULTS9
1.1 SIX GENERATIONS OF CRAFTSPEOPLE10
1.2 GROUP GOVERNANCE13
1.3 STRATEGY14
1.4 SIMPLIFIED ORGANISATION CHART AND GROUP LOCATIONS17
1.4.1 SUMMARY DESCRIPTION OF THE GROUP AS AT 31 DECEMBER 202317
1.4.2 INTEGRATED PRODUCTION AND TRAINING SITES WORLDWIDE18
1.4.3 INTEGRATED PRODUCTION AND TRAINING SITES IN THE FRENCH REGIONS19
1.4.4 WORLDWIDE DISTRIBUTION NETWORK20
1.4.5 REAL ESTATE22
1.5 KEY FINANCIAL AND NON‑FINANCIAL FIGURES23
1.5.1 REVENUE BY M.TIER FOR 2023 (2022)23
1.5.2 REVENUE BY GEOGRAPHICAL AREA FOR 2023 (2022)23
1.5.3 KEY CONSOLIDATED FINANCIAL DATA23
1.5.4 KEY NON‑FINANCIAL FIGURES25
1.6 REVENUE AND ACTIVITY BY MÉTIER26
1.7 REVENUE AND ACTIVITY BY GEOGRAPHICAL AREA27
1.8 COMMENTS ON THE CONSOLIDATED FINANCIAL STATEMENTS28
1.8.1 INCOME STATEMENT28
1.9 SIGNIFICANT EVENTS SINCE THE END OF THE FINANCIAL YEAR29
1.10 OUTLOOK30
1.11 FONDATION D’ENTREPRISE32
2. CORPORATE SOCIAL RESPONSIBILITY AND NON‑FINANCIAL PERFORMANCE35
2.1 BUSINESS MODEL39
2.1.1 CONCRETE LONG‑TERM COMMITMENTS44
2.1.2 AN AMBITIOUS AND STRUCTURING CSR STRATEGY45
2.1.3 MATERIALITY ANALYSIS46
2.1.4 ANALYSIS OF NON‑FINANCIAL RISKS49
2.1.5 CSR STRATEGY49
2.1.6 CSR GOVERNANCE55
2.2 PEOPLE: TEAMS59
2.2.1 THE “HEARTS & CRAFTS” SOCIAL MODEL62
2.2.2 OUR TEAMS: GROWING OUR HOUSE, AND GROWING WITH IT62
2.2.3 SEEKING RARITY AND DIVERSITY, KEY ISSUES FOR OUR GROWTH64
2.2.4 OUR MANAGERIAL PHILOSOPHY – MANAGING DIVERSITY, EQUITY AND INCLUSION69
2.2.5 HEALTH & WELL‑BEING74
2.2.6 RECOGNITION & REWARD81
2.2.7 FOSTERING AND PROMOTING QUALITY SOCIAL DIALOGUE84
2.3 PEOPLE: SAVOIR‑FAIRE87
2.3.1 CREATING THE CONDITIONS FOR PROFESSIONAL DEVELOPMENT AND EMPLOYABILITY90
2.3.2 MEANINGFUL WORK96
2.4 THE PLANET: RAW MATERIALS101
2.4.1 ECO‑DESIGN AND CIRCULAR ECONOMY105
2.4.2 SUPPLY CHAINS115
2.4.3 BIODIVERSITY125
2.5 THE PLANET: ENVIRONMENT141
2.5.1 ENVIRONMENTAL ACTIONS FRAMEWORK144
2.5.2 RESPONSIBLE REAL ESTATE145
2.5.3 RESPONSIBLE IT147
2.5.4 RESOURCE MANAGEMENT149
2.5.5 WASTE MANAGEMENT158
2.5.6 CONTROL OF POLLUTION RISKS161
2.5.7 CLIMATE CHANGE166
2.6 COMMUNITIES: SUPPLIERS & PARTNERS189
2.6.1 SUPPORT AND CONTROL192
2.6.2 DEVELOPMENT OF PURCHASES WITH A SOCIAL CONTRIBUTION OR RESPONSIBLE SOCIAL IMPACT200
2.7 COMMUNITIES: STAKEHOLDERS AND TRANSPARENCY205
2.7.1 REGIONAL RESPONSIBILITY IN FRANCE208
2.7.2 SOCIALLY RESPONSIBLE COMPANY210
2.7.3 COMMUNICATION AND TRANSPARENCY VIS-À-VIS STAKEHOLDERS216
2.7.4 APPLICATION OF THE EUROPEAN TAXONOMY TO THE HERMÈS GROUP220
2.7.5 ANALYSIS OF CORRESPONDENCE WITH THE MAIN NON‑FINANCIAL REPORTING FRAMEWORKS227
2.7.6 HERMÈS’ CONTRIBUTION TO THE UN SUSTAINABLE DEVELOPMENT GOALS233
2.8 ETHICS – COMPLIANCE236
2.8.1 PROMOTING ETHICS237
2.8.2 FIGHTING CORRUPTION243
2.8.3 PROTECTING PERSONAL DATA245
2.8.4 DUTY OF CARE246
2.9 REPORT OF ONE OF THE STATUTORY AUDITORS, APPOINTED AS INDEPENDENT THIRD PARTY, ON THE VERIFICATION OF THE CONSOLIDATED NON‑FINANCIAL STATEMENT250
2.10 REASONABLE ASSURANCE REPORT FROM ONE OF THE STATUTORY AUDITORS ON THE IDENTIFIED SUSTAINABILITY INFORMATION OF HERM.S INTERNATIONAL’S NON‑FINANCIAL PERFORMANCE STATEMENT AS AT/ FOR THE YEAR ENDED DECEMBER 31ST, 2023257
3. CORPORATE GOVERNANCE261
SUPERVISORY BOARD REPORT ON CORPORATE GOVERNANCE263
3.1 THE COMPANY’S CORPORATE GOVERNANCE CODE263
3.1.1 CORPORATE GOVERNANCE PRINCIPLES APPLIED263
3.1.2 PROVISIONS OF THE AFEP‑MEDEF CORPORATE GOVERNANCE CODE NOT APPLIED AND THOSE NEWLY COMPLIED WITH263
3.2 AMBITIOUS AND BALANCED GOVERNANCE266
3.2.1 ORGANISATIONAL STRUCTURE OF HERMÈS INTERNATIONAL AS AT 31 DECEMBER 2023266
3.2.2 TWO TYPES OF PARTNERS267
3.2.3 GOVERNANCE BY NATURE DISSOCIATED268
3.3 ADMINISTRATIVE AND MANAGEMENT BODIES269
3.3.3 GOVERNING BODIES269
3.3.4 NON‑DISCRIMINATION AND DIVERSITY POLICY273
3.3.5 SUCCESSION PLAN FOR SENIOR EXECUTIVES275
3.4 ORGANISATION OF THE SUPERVISORY BOARD276
3.4.1 KEY DATA ON THE SUPERVISORY BOARD AS AT 31 DECEMBER 2023276
3.4.2 APPLICABLE PRINCIPLES277
3.4.3 DIVERSITY POLICY APPLIED WITHIN THE SUPERVISORY BOARD279
3.4.4 SUCCESSION PLAN FOR THE CHAIRMAN OF THE SUPERVISORY BOARD281
3.4.5 COMPOSITION OF THE SUPERVISORY BOARD282
3.4.6 INDEPENDENCE OF THE MEMBERS OF THE SUPERVISORY BOARD288
3.4.7 SUPERVISORY BOARD ETHICS290
3.5 FUNCTIONING OF THE SUPERVISORY BOARD293
3.5.3 INFORMATION AND TRAINING OF THE SUPERVISORY BOARD293
3.5.4 MAIN DUTIES OF THE SUPERVISORY BOARD AND WORK CARRIED OUT IN 2023295
3.5.5 ETHICS AND COMPLIANCE – PERSONAL DATA PROTECTION297
3.5.6 CORPORATE SOCIAL RESPONSIBILITY297
3.6 SPECIALISED COMMITTEES301
3.6.1 APPLICABLE PRINCIPLES301
3.6.2 CAG‑CSR COMMITTEE302
3.6.3 AUDIT AND RISK COMMITTEE306
3.8 COMPENSATION AND BENEFITS OF CORPORATE OFFICERS309
3.8.2 OVERVIEW OF COMPENSATION AND BENEFITS OF ALL KINDS FOR CORPORATE OFFICERS310
4. RISK FACTORS AND MANAGEMENT319
4.1 RISK FACTORS320
4.1.1 RISKS RELATED TO STRATEGY AND OPERATIONS322
4.1.2 INDUSTRIAL RISKS328
4.1.3 LEGAL AND REGULATORY RISKS332
4.1.4 RISKS RELATED TO SOCIAL, SOCIETAL AND ENVIRONMENTAL RESPONSIBILITY333
4.3 RISK MANAGEMENT, INTERNAL CONTROL AND INTERNAL AUDIT337
4.3.1 A DEMANDING CONTROL ENVIRONMENT337
4.3.2 COMMITTED PARTIES RESPONSIBLE FOR RISK MANAGEMENT AND CONTROL337
4.3.3 A CONTROLLED RISK MANAGEMENT SYSTEM340
4.3.4 A MATURE INTERNAL CONTROL SYSTEM341
4.3.5 AN AGILE INTERNAL AUDIT SYSTEM344
5. CONSOLIDATED FINANCIAL STATEMENTS347
5.1 CONSOLIDATED INCOME STATEMENT348
5.2 CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME348
5.3 CONSOLIDATED BALANCE SHEET349
7. INFORMATION ON THE COMPANY AND ITS SHARE CAPITAL357
7.2 INFORMATIONS ON SHARE CAPITAL AND SHAREHOLDERS358
7.2.1 INFORMATION ON SHARE CAPITAL358
7.2.2 INFORMATION ON SHAREHOLDERS359
7.4 STOCK MARKET INFORMATION365
7.4.1 SUMMARY OF STOCK MARKET INFORMATION365
7.4.2 HISTORY OF MONTHLY TRANSACTIONS365
7.4.3 HERMÈS INTERNATIONAL SHARE PRICE HISTORY366
7.5 SHAREHOLDER INFORMATION367
7.5.5 DIALOGUE WITH SHAREHOLDERS AND THE FINANCIAL COMMUNITY IN 2023367
9. ADDITIONAL INFORMATION371
9.5 CROSS‑REFERENCE TABLES372
9.5.5 CROSS‑REFERENCE TABLE FOR THE NON‑FINANCIAL PERFORMANCE STATEMENT372
9.6 GLOSSARY373

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