Hermès - Registration Document 2016

5

CONSOLIDATED FINANCIAL STATEMENTS

CONSOLIDATED STATEMENT OF CASH FLOWS

CONSOLIDATED STATEMENT OF CASH FLOWS

5.5

Before allocation

2016

2015

Notes

In millions of euros

CASH FLOWS RELATED TO OPERATING ACTIVITIES Net income attributable to owners of the parent

1,100.3

972.6 178.6

Depreciation and amortisation

11, 12 and 13 10, 11 and 12

201.8

Impairment losses

30.3

27.9 (2.1)

Mark-to-Market financial instruments

7.2

Foreign exchange gains/(losses) on fair value adjustments

30.4 70.1

(23.0)

Change in provisions

19.9

Net income from associates

15 21

(10.9)

(17.7)

Net income attributable to non-controlling interests

3.9

4.6

Capital gains/(losses) on disposals

(18.8) (29.3)

(3.7) 25.0 36.4 (0.2)

Deferred tax expense

Accrued expenses and income related to share-based payments

30

53.8 (0.1)

Others

Operating cash flows

1,438.7

1,218.2

Dividend income

(11.6)

(1.5) (5.7)

Interest income and expenses

(3.4)

Current tax expense

612.5

539.6

Operating cash flows before financial interest, dividends and taxes Change in working capital requirements related to the activity

2,036.2

1,750.6

22.5

2.0 5.7

Interest income and expenses

3.4

Income tax paid

(588.2) 1,473.9

(572.6) 1,185.7

Change in net cash related to operating activities CASH FLOWS RELATED TO INVESTING ACTIVITIES Purchase of intangible assets

11

(46.9)

(39.1)

Purchase of property, plant and equipment

12 and 13

(215.2)

(213.3)

Investments in associates

(23.3) (13.0)

(14.2)

Purchase of other financial assets

14

(0.2)

Amounts payable to fixed asset suppliers Proceeds from sale of operating assets Proceeds from sale of investments in associates Proceeds from sale of other financial assets Change in net cash related to investing activities CASH FLOWS RELATED TO FINANCING ACTIVITIES Dividends paid Dividends received

2.8

(21.3)

18.1

10.4

9.5

-

22.8 25.7

17.8 18.5

(219.6)

(241.3)

(360.1) (108.8)

(840.2)

Treasury share buybacks net of disposals

(5.2) 10.7 (2.2)

Proceeds from borrowings Repayment of borrowings

3.6

(5.8) (0.0)

Other increases/(decreases) in equity

0.3

Change in net cash related to financing activities

(471.2)

(836.7)

Change in scope

(0.0)

1.9

Change in foreign currency translation adjustment on intra-group transactions

(27.6)

11.6 28.4

Foreign currency translation adjustment CHANGE IN NET CASH POSITION Net cash position at beginning of period Net cash position at end of period

19 19 19 19

(6.9)

748.6

149.6

1,571.2 2,319.8

1,421.6 1,571.2

N.B.: the values shown in the tables are generally expressed in millions of euros. In certain cases, the effects of rounding up/down can lead to a slight discrepancy on the level of the totals or changes.

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2016 REGISTRATION DOCUMENT HERMÈS INTERNATIONAL