Hermès // 2022 UNIVERSAL REGISTRATION DOCUMENT

CONSOLIDATED FINANCIAL STATEMENTS NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

The amount of trade and other receivables due breaks down as follows:

31/12/2022

31/12/2021

Gross

Impairment

Net

Net

In millions of euros

Under 3 months

115

0

114

108

Between 3 and 6 months

1

0

1

2

Over 6 months

4

3

1

2

TOTAL

119

3

116

111

The Group’s policy is to recommend that insurance be taken out covering accounts receivable inasmuch as local conditions permit. Consequently, the expected risk of non‑recovery is low, as evidenced by the level of impairment of trade receivables, which amounted to 1% of the gross value at the end of 2022 (1% at end of 2021). There is no significant concentration of credit risk.

With the exception of other non‑current assets, all receivables are due within one year. There were no significant payment deferrals that would justify the discounting of receivables.

4.4.3 TRADE PAYABLES AND OTHER LIABILITIES

31/12/2022

31/12/2021

In millions of euros

Trade payable

659

450

Amounts payable to fixed asset suppliers

118

85

Trade and other payables

777

535

Current tax liabilities

496

347

5

Other current liabilities

1,239

1,168

Other non‑current liabilities

103

45

TRADE PAYABLES AND OTHER LIABILITIES

2,615

2,094

4.4.4 CHANGE IN WORKING CAPITAL REQUIREMENTS

31/12/2022

31/12/2021

In millions of euros

Inventories and work‑in‑progress

(324)

(116)

Trade and other receivables

(54)

(30)

Trade and other payables

203

71

Other receivables and payables

248

421

TOTAL

73

346

2022 UNIVERSAL REGISTRATION DOCUMENT HERMÈS INTERNATIONAL

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