Hermès Petit h skate porcelaine

Key figures

Key figures 2020

  • picto monde SVG

    Recurring operating income

  • picto maroquinerie SVG

    M€ of operating investments

  • picto fichier SVG

    M€ of adjusted free cash flow

Key consolidated data in million euros

  Full year 2020 Full year 2019
Revenue 6,389 6,883
Growth at current exchange rates vs. n-1 -7.2% 15.4%
Growth at constant exchange rates vs. n-1(1) -6.0% 12.4%
Recurring operating income(2) 1,981 2,339
As a % of revenue 31.0% 34.0%
Operating income 2,073 2,339
As a % of revenue 32.4% 34.0%
Net profit – Group share 1,385 1,528
As a % of revenue 21.7% 22.2%
Operating cash flows 1,993 2,063
Investments (excluding financial investments) 448 478
Adjusted free cash flow(3) 995 1,406
Equity – Group share 7,380 6,568
Net cash position(4) 4,717 4,732
Restated net cash position(5) 4,904 4,562
Workforce (number of employees) 16,600 15,417
(1) Growth at constant exchange rates is calculated by applying the average exchange rates of the previous period to the current period's revenue, for each currency.
(2) Recurring operating income is one of the main performance indicators monitored by the group's General Management. It corresponds to the operating income excluding non-recurring items having a significant impact likely to affect the understanding of the group's economic performance.
(3) Adjusted free cash flow corresponds to the sum of operating cash flows and change in working capital requirement, less operating investments and repayment of lease liabilities, as per IFRS cash flow statement.
(4) The net cash position includes cash and cash equivalents on the asset side of the balance sheet, less bank overdrafts presented within the short-term borrowings and financial liabilities on the liability side of the balance sheet. It does not include lease liabilities recognised in accordance with IFRS 16.
(5)The restated net cash position corresponds to the net cash position, plus cash investments that do not meet IFRS criteria for cash equivalents as a result of their original maturity of more than three months, minus borrowings and financial liabilities.
couverture RFS 2020 - HYR 2020 cover

2020 Universal Registration Document

Nuage fond beige
Press release

Covid-19 crisis: Hermès united and responsible