Hermès - Registration Document 2016

CONSOLIDATED FINANCIAL STATEMENTS NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

22.2.1 Net currency position

As at 31/12/2016

Net position before hedging

Monetary assets/

Net position after hedging

(liabilities) 1 Future cash flows

Derivatives 2

Hedging ratio

In millions of euros

US dollar

(46.1) 118.6

394.2 192.6 237.8 209.9 195.8

348.1 311.2 261.3 253.6 113.8

(382.8) (281.8) (254.6) (248.8) (122.4)

(34.7)

110%

Yuan

29.3

91% 97% 98% 95% 93% 97% 98% 95% 98% 99% 98% 97% 83% 91% 98% 99% 97%

Yen

23.5 43.8

6.6 4.9

Singapore dollar Hong Kong dollar

(82.0)

(8.6)

108%

Euro 3

12.9

58.8 79.3 35.1 35.0 23.6 21.9 22.0

71.7 60.6 46.3 39.4 27.6 26.3 25.6

(68.0) (56.5) (44.9) (38.7) (26.3) (25.8) (25.4)

3.7 4.1 1.4 0.7 1.3 0.5 0.3 0.3 1.4 0.0 0.5 0.1 0.0

Pound sterling

(18.7)

Swiss franc

11.2

Canadian dollar Australian dollar

4.5 3.9 4.3 3.6

Rouble

Thai baht

South Korean won

(0.2)

(10.0)

(10.2)

10.0 (9.1) (6.7) (6.0) (4.7) (4.1) (3.8)

(0.2)

Mexican peso Brazilian real Turkish lira Indian rupee Czech crown Danish krone Emirati dirham Argentine peso Swedish krona

0.6 1.4

8.8 6.7 6.0 4.6 4.1 3.8

9.4 8.1 6.0 5.2 4.2 3.9

(0.0)

100%

0.6 0.1 0.0 0.0 1.1 0.1

(3.0)

(3.0)

2.9

(0.1)

5

- -

1.1 0.1

- -

1.1 0.1

Summary

83.1

1,527.2

1,610.3

(1,597.6)

12.6

99%

2016 REGISTRATION DOCUMENT HERMÈS INTERNATIONAL

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