Hermès - Registration Document 2016

CONSOLIDATED FINANCIAL STATEMENTS NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

22.2.3 Analysis of currency agreements

Nominal amounts of derivatives used to hedge foreign exchange risk

Market value of the contracts as at 31 December 2016 1

Nominal amounts of derivatives

Future cash flow hedge Fair value hedge

Unallocated

Total

In millions of euros

Options purchased US dollar put US dollar collar Chinese yuan put Chinese yuan collar Japanese yen put Japanese yen collar Singapore dollar put Singapore dollar collar Hong Kong dollar put Hong Kong dollar collar

36.5

36.5

0.5

0.5

182.7

182.7

(1.8)

(1.8)

12.6 82.0 22.7

12.6 82.0 22.7

0.8 4.1 1.2 3.2 0.6 2.7 0.4

0.8 4.1 1.2 3.2 0.6 2.7 0.4

100.5

100.5

20.4

20.4

132.5

132.5

23.5

23.5

117.5 730.8

117.5 730.8

(0.9) 10.7

(0.9) 10.7

-

-

Forward currency agreements 2 US dollar

164.2

178.4

(7.3) (0.6)

(0.2)

(7.5) (0.6)

Yuan

98.1

98.1

0.0 0.0 0.0

Yen

114.7

114.7

2.8

2.8

Singapore dollar Hong Kong dollar Pound sterling

55.2 54.6 79.3 58.8 35.1 35.0 21.9 21.9

56.5 54.6 79.3 58.8 35.1 35.0 21.9 21.9

(4.5) (6.9)

(4.5) (7.0)

(0.1)

4.5 1.5

0.0

4.5 1.5

Euro 3

5

Swiss franc

(0.5) (1.4) (1.1) (3.6)

0.0

(0.5) (1.4) (1.1) (3.6)

Canadian dollar

(0.0)

Thai baht

Rouble

0.0

South Korean won Australian dollar

(10.0)

(10.0)

0.1

(0.0)

0.1

23.6 31.1

23.6 31.1

(0.6) (1.0)

-

(0.6) (1.1)

Others

(0.1) (0.3)

783.5

799.1

(18.5)

-

(18.9)

Currency swaps 2 US dollar

(0.6) 89.2 16.8 40.7

(24.2)

(1.7) (0.4)

(0.3) (0.0)

(2.0) (0.4)

Yuan

88.6 16.8 40.7

Yen

0.1 0.2

-

0.1 0.2

Singapore dollar Hong Kong dollar Pound sterling

0.0

(73.2) (22.8)

(73.4) (22.8)

(0.4) (0.5) (0.1) (0.0)

(0.0)

(0.4) (0.5) (0.0) (0.0)

-

Euro 3

9.1 9.8 3.7 3.5 3.9 2.7 0.5

10.9

0.0 0.0 0.0

Swiss franc

9.8 3.5 3.5 3.9 2.6 0.5

Canadian dollar

0.1

0.1

Thai baht

(0.0) (0.1)

- -

(0.0) (0.1)

Rouble

Australian dollar

0.1

0.0

0.1

Others

(0.0) (2.7)

-

(0.0) (3.0)

83.3

60.4

- -

(0.3) (0.6)

TOTAL

1,597.6

1,590.3

(10.6)

(11.2)

(1) Gain/(Loss). (2) Sale/(Purchase). (3) Euro foreign exchange risk for subsidiaries having a different functional currency.

2016 REGISTRATION DOCUMENT HERMÈS INTERNATIONAL

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