Hermès - Registration Document 2016

PARENT COMPANY FINANCIAL STATEMENTS

NOTE TO THE FINANCIAL STATEMENTS

FINANCIAL ASSETS

NOTE 7

Gross value as at 31/12/2015

Acquisitions/ Subscriptions

Gross value as at 31/12/2016

Provisions for impairment

Net value as at 31/12/2016

Disposals

In millions of euros

Note

11

Investments in subsidiaries and associates

1,059.6 13.196

34.1 12.0

(3.1)

1,090.5

(473.3)

617.2

25.2 12.5 12.2

-

25.2

Hermès Italie 1

3.537 9.167 3.037 3.906

9.0 3.0 6.0 3.4

(8.4)

4.1 1.4 1.7 3.2 9.9

Maroquinerie Iséroise 2 Maroquinerie Nontronaise 2 Maroquinerie de la Tardoire 2

(10.8)

9.0 7.3 9.9

(7.3) (4.1)

Hermès Brasil 2 Ardian Holding 3

12.7

(2.8) (0.3)

-

1,014.1

0.6

1,014.4

(442.6)

571.7

Other equity interests 4 Other financial assets Financial investments 5

55.6 31.2 20.5

13.4

(20.5) (20.3)

48.5 19.0 25.7

(8.0) (8.0)

40.5 11.0 25.7

8.1 5.3 0.1 0.4

Treasury shares (including liquidity contract) 6

Deposits and guarantees Other long-term investments

3.9 2.9

(0.2)

3.8 3.2

3.8 2.6

(0.6)

FINANCIAL ASSETS

1,118.0

47.9

(23.6)

1,142.3

(481.9)

660.3

The list of investment securities is presented at the end of the notes to the financial statements. (1) Hermès Italie is wholly owned by Hermès International, versus 90%-owned at the end of 2015.

(2) Namely capital increases of Hermès Group subsidiaries. (3) Partial buyback of preference shares by Ardian (€2.8 million).

(4) Other provisions for impairment of securities mainly relate to the subsidiaries Castille Investissement, John Lobb, La Manufacture de Seloncourt, La Maroquinerie St-Antoine, La Manufacture de Haute Maroquinerie, Compagnie Hermès de Participations, Hermès Cuir Précieux, Hermès Argentina, Hermès India, Hermès Horizons, Maroquinerie de Belley, Maroquinerie de Sayat and Ganterie de St-Junien. (5) Maturity of a €20 million term deposit. (6) As at 31 December 2016, Hermès International held 87,539 treasury shares (liquidity contract and unallocated shares intended for external growth operations). These shares were valued on the basis of their stock market price when they were purchased, i.e. €293.98 per share.

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2016 REGISTRATION DOCUMENT HERMÈS INTERNATIONAL

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