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1、Parent company financial statements as of December 31,20241Parent company financial statements as of December 31,2024Parent company financial statements:Christian Dior1.Incomestatement22.Balancesheet33.Cashflowstatement44.Notestotheparentcompanyfinancialstatements55.Subsidiariesandequityinvestments1

2、36.Companyresultsoverthelastfivefiscalyears147.StatutoryAuditorsreportontheparentcompanyfinancialstatements158.StatutoryAuditorsspecialreportonrelated-partyagreements19This document is a free translation into English of the original French“Comptes annuels”,hereafter referred to as the“Parent company

3、 financial statements”.It is not a binding document.In the event of a conflict in interpretation,reference should be made to the French version,which is the authentic text.Income statementParent company fnancial statements:Christian Dior2Parent company financial statements as of December 31,20241.In

4、come statementIncome/(Expenses)(EUR millions)Notes 20242023Financial income from subsidiaries and investments 2,720.6 2,611.0Investment portfolio:Impairment and provisions (10.3)2.5Other (1.3)(1.6)Incomefrommanagingsubsidiariesandinvestments4.1 2,709.02,611.8Income from/(cost of)net financial debt4.

5、2 4.7 5.2Other financial income and expenses -NETFINANCIALINCOME/(EXPENSE)4 2,713.72,617.0Personnel costs5(0.4)(0.4)Other management charges6(7.0)(6.9)OPERATINGPROFIT/(LOSS)(7.5)(7.4)RECURRINGPROFITBEFORETAX 2,706.32,609.6NETEXCEPTIONALINCOME/(EXPENSE)-Income tax income/(expense)7(34.3)(33.0)NETPROF

6、IT 2,672.02,576.6Balance sheetParent company fnancial statements:Christian Dior3Parent company financial statements as of December 31,20242.Balance sheetAssets(EUR millions)Notes 20242023GrossDepreciation,amortizationandimpairmentNetNetIntangible assets 0.0 0.0 0.0 0.0Property,plant and equipment 0.

7、3 0.3-Intangibleassetsandproperty,plantandequipment 0.30.30.00.0Equity investments8 4,604.5 69.3 4,535.2 4,173.6Receivables from equity investments9 27.4-27.4 46.4Other non-current financial assets 0.0-0.0 0.0Non-currentfinancialassets 4,632.069.34,562.74,220.0NON-CURRENTASSETS 4,632.369.64,562.74,2

8、20.1Receivables10 20.2-20.2 0.0Short-term investments11 16.7-16.7 16.7Cash and cash equivalents 129.0-129.0 145.8CURRENTASSETS 165.9-165.9162.5Prepayments and accrued income 0.1-0.1 0.1TOTALASSETS 4,798.269.64,728.74,382.6Liabilitiesandequity(EUR millions)Notes 20242023BeforeappropriationBeforeappro

9、priationShare capital(fully paid up)12.1 361.0 361.0Share premium account 194.2 194.2Reserves and revaluation adjustments 36.4 36.4Retained earnings(a)2,434.3 2,203.0Interim dividend (992.8)(992.8)Netprofitforthefiscalyear 2,672.02,576.6EQUITY12 4,705.14,378.4Other debt14 23.6 4.2OTHERLIABILITIES 23

10、.64.2Accruals and deferred income 0.0 0.0TOTALLIABILITIESANDEQUITY 4,728.74,382.6(a)Dividends attributable to treasury shares were reclassified under“Retained earnings”as of December 31,2023 and December 31,2024.Cash fow statementParent company fnancial statements:Christian Dior4Parent company finan

11、cial statements as of December 31,20243.Cash flow statement(EUR millions)20242023I.OPERATINGACTIVITIESNet profit 2,672 2,577Net depreciation,amortization,impairment and provisions 10(2)Dividends in kind received-Net gain/(loss)on disposals 0 0Cashfromoperationsbeforechangesinworkingcapital2,6822,574

12、Change in current assets(20)0Change in current liabilities 19(11)Changeinworkingcapital(1)(11)NetcashfromoperatingactivitiesI2,6812,470II.INVESTINGACTIVITIESAcquisitions of property,plant and equipment and intangible assets-Acquisitions of equity investments(372)(449)Acquisitions of other long-term

13、investments-Net change in other non-current financial assets 19(0)Netcashfrom/(usedin)investingactivitiesII(353)(449)III.FINANCINGACTIVITIESCapital increase-Proceeds from new loans and borrowings-Repayments of loans and borrowings-Change in current accounts-Netcashfrom/(usedin)financingactivitiesIII

14、-IV.DIVIDENDSPAIDDURINGTHEFISCALYEARIV(2,345)(2,255)NETINCREASE/(DECREASE)INCASHANDCASHEQUIVALENTSI+II+III+IV(17)(141)Cashandcashequivalentsatbeginningoffiscalyear163304Cashandcashequivalentsatendoffiscalyear146163The cash flow statement breaks down the changes in cash from one fiscal year to the ne

15、xt(after deducting bank overdrafts)as well as cash equivalents comprised of shortterm investments,net of any impairment.Notes to the parent company fnancial statementsParent company fnancial statements:Christian Dior5Parent company financial statements as of December 31,20244.Notes to the parent com

16、pany financial statementsAmounts are expressed in millions of euros unless otherwise indicated.Note 1.Business activity and key events during the fiscal year .6Note 2.Accounting policies and methods .6Note 3.Subsequent events .7Note 4.Net financial income/(expense).7Note 5.Personnel costs .8Note 6.O

17、ther management charges .8Note 7.Income taxes .8Note 8.Equity investments .9Note 9.Receivables from equity investments .9Note 10.Receivables .9Note 11.Short-term investments .10Note 12.Equity .11Note 13.Changes in impairment .11Note 14.Other debt .11Note 15.Other information .12Note 16.Financial com

18、mitments .12Notes to the parent company fnancial statementsParent company fnancial statements:Christian Dior6Parent company financial statements as of December 31,2024Note 1.Business activity and key events during the fiscal yearChristian Dior SE is a listed holding company that,as of December 31,20

19、24,directly owned a 41.87%equity stake in LVMH Mot Hennessy Louis Vuitton SE,a listed company.Note 2.Accounting policies and methods2.1 General framework and changes in accounting policiesThe parent company financial statements have been prepared in accordance with Regulation 201403 dated June 5,201

20、4 of the Autorit des Normes Comptables,Frances accounting standards authority,in accordance with the same accounting principles and methods as those used for the previous fiscal year.General accounting conventions have been applied observing the principle of prudence in conformity with the basic ass

21、umptions of going concern,consistency of accounting methods,and accrual basis,and in conformity with the general rules for the preparation and presentation of parent company financial statements;it should be noted that the presentation of the income statement was modified in 2019.The presentation of

22、 the income statement includes three main components of profit or loss:“Net financial income/(expense)”,“Operating profit/(loss)”and“Net exceptional income/(expense)”.The total of“Net financial income/(expense)”and“Operating profit/(loss)”corresponds to“Recurring profit before tax”.“Net financial in

23、come/(expense)”includes net income from managing subsidiaries and investments,the net proceeds or cost of cash and financial debt,and other items resulting from the management of subsidiaries or of debt.Net income from managing subsidiaries and investments includes all portfolio management items:div

24、idends,changes in impairment of securities,changes in provisions for contingencies and losses related to the portfolio,and gains or losses arising on the disposal of securities.“Operating profit/(loss)”includes costs related to the management of the Company and to the Groups management and coordinat

25、ion costs,personnel costs or other administrative costs.“Net financial income/(expense)”and“Operating profit/(loss)”include items relating to the financial management of the Company or administrative operations,irrespective of their amounts or their occurrence.“Net exceptional income/(expense)”thus

26、comprises only those transactions that,due to their nature,may not be included in“Net financial income/(expense)”or“Operating profit/(loss)”.The accounting items recorded have been evaluated using the historical cost method.2.2 Intangible assetsSoftware is amortized using the straightline method ove

27、r one year.2.3 Property,plant and equipmentProperty,plant and equipment are depreciated on a straightline basis over the following estimated useful lives:furniture:10 years.2.4 Non-current financial assetsEquity investments and other longterm investments are stated at acquisition cost(excluding inci

28、dental costs)or at contribution value.If their value in use as of the fiscal yearend is lower than the carrying amount,an impairment loss is recorded in the amount of the difference.For investments in listed companies,the value in use is generally estimated on the basis of market capitalization,the

29、share of the companys adjusted net asset value and/or discounted forecast cash flows.The value in use of unlisted investments is generally estimated on the basis of the share of the adjusted net asset value of the companies concerned,market comparables and/or discounted forecast cash flows.Christian

30、 Dior shares purchased for retirement are recorded under“Noncurrent financial assets”and are not impaired.Gains or losses on sales of equity investments are calculated according to the weighted average cost method and disclosed under“Income from managing subsidiaries and investments”in“Net financial

31、 income/(expense)”.In accordance with Regulation 201506 dated November 23,2015 of the Autorit des Normes Comptables(Frances accounting standards authority),merger losses allocated to noncurrent financial assets are recognized under a specific line item within the asset category concerned:“Merger los

32、ses on financial assets”.Technical losses,in the amount of the equity investment previously held by the absorbing entity,correspond to unrealized gains on assets,whether recognized or not in the accounts of the absorbed entity,after deducting,unless otherwise required under accounting rules,liabilit

33、ies not recognized in the accounts of the absorbed entity.At the end of each fiscal year,the net carrying amount of each asset transferred,plus the associated technical loss,is assessed.Where applicable,if this value is lower than the real value of these assets,impairment is recorded.Technical losse

34、s are reduced proportionately upon the sale or disposal of the assets concerned.Notes to the parent company fnancial statementsParent company fnancial statements:Christian Dior7Parent company financial statements as of December 31,20242.5 Receivables and payablesReceivables and payables are recorded

35、 at their face value.Impairment is recorded if their net realizable value,based on the probability of their collection,is lower than their carrying amount.2.6 Short-term investmentsShortterm investments are valued at their acquisition cost.Impairment is recorded if their acquisition cost is higher t

36、han their market value determined as follows:listed securities:average listed share price during the last month of the fiscal year;other securities:estimated realizable value or liquidation value.2.7 EquityIn accordance with the recommendations of the French National Institute of Statutory Auditors(

37、Compagnie Nationale des Commissaires aux Comptes),interim dividends are recorded as a deduction from equity.2.8 Provisions for contingencies and lossesThe Company establishes a provision for definite and likely contingencies and losses at the end of each fiscal year,observing the principle of pruden

38、ce.2.9 Net financial income/(expense)Due to its type of activity,the Company records sales of securities according to the following principles:gains or losses on sales of equity investments(titres de participation)are calculated according to the weighted average cost method;gains or losses on sales

39、of shortterm investments(valeurs mobilires de placement)are calculated using the“first in,first out”(FIFO)method.Note 3.Subsequent eventsAs of January 28,2025,the date on which the financial statements were approved for publication,no subsequent events had occurred that would call into question the

40、assumptions used in preparing the financial statements for the fiscal year ended December 31,2024.Note 4.Net financial income/(expense)4.1 Income from managing subsidiaries and investmentsThe income from managing subsidiaries and investments breaks down as follows:(EUR millions)20242023Dividends rec

41、eived2,720.6 2,611.0Financialincomefromsubsidiariesandinvestments2,720.62,611.0Changes in impairment(10.3)2.5Changes in provisions for contingencies and losses-Impairmentandprovisionsrelatedtosubsidiariesandinvestments(10.3)2.5Other(1.3)(1.6)Incomefrommanagingsubsidiariesandinvestments2,709.02,611.8

42、See also Note 13 concerning the change in impairment and provisions.Notes to the parent company fnancial statementsParent company fnancial statements:Christian Dior8Parent company financial statements as of December 31,20244.2 Cost of net financial debtThe cost of net financial debt breaks down as f

43、ollows:(EUR millions)20242023Interest on borrowings(0.4)(0.4)Other financial income/(expenses)2.8 3.5Proceeds/(cost)ofnon-Groupnetfinancialdebt2.43.0Intra-Group interest expense-Intra-Group interest income2.3 2.1Proceeds/(cost)ofintra-Groupnetfinancialdebt2.32.1Proceeds/(cost)ofnetfinancialdebt4.75.

44、2Note 5.Personnel costsIn 2024,personnel costs included gross compensation and employer social security contributions.During the 2024 fiscal year,gross compensation of 200 thousand euros was paid to the Chief Executive Officer.In addition,in January 2025,138 thousand euros was paid in compensation f

45、or serving as a Director in fiscal year 2024.Note 6.Other management chargesOther management charges mainly consist of expenses under the assistance agreement entered into with Agache SCA.Note 7.Income taxes7.1 Breakdown of corporate income taxCorporate income tax breaks down as follows,according to

46、 the presentation adopted for profit before tax:(EUR millions)Pre-taxTax(expense)/incomePost-taxRecurring profit2,706.3(34.3)2,672.0Net exceptional income/(expense)-2,706.3(34.3)2,672.07.2 Tax positionSince January 1,2018,Christian Dior SE has been a member of the tax consolidation group of which Ag

47、ache SCA is the consolidating parent company.Christian Dior calculates and recognizes its tax expense as if it were individually subject to tax,and remits this amount to the consolidating parent company.Notes to the parent company fnancial statementsParent company fnancial statements:Christian Dior9

48、Parent company financial statements as of December 31,2024Note 8.Equity investments(EUR millions)Dec.31,2024Dec.31,2023Gross amount of equity investments4,604.5 4,232.6Impairment expense(69.3)(58.9)Carryingamountofequityinvestments4,535.24,173.6The change in the carrying amount of equity investments

49、 was mainly due to the acquisition of LVMH Mot Hennessy Louis Vuitton SE shares.A breakdown of the investment portfolio is presented in the“Subsidiaries and equity investments”table.The methods used to calculate the valuation and impairment of equity investments are described in Note 2.4.The change

50、in impairment of the investment portfolio is broken down in Note 13.Note 9.Receivables from equity investmentsThe balance of receivables from equity investments breaks down as follows:(EUR millions)December31,2024GrossamountsbymaturityOf which:Related companiesGrossImpairmentNetUpto1yearMorethan1yea

51、r 27.4-27.427.4-27.4Total27.4-27.427.4-27.4Receivables from equity investments comprise advances granted to a subsidiary under a bilateral mediumterm agreement.Note 10.Receivables(EUR millions)TotalAmountUpto1yearMorethan 1yearOther receivables20.2 20.2-Receivables20.220.2-“Other receivables”recogni

52、zed during the fiscal year,totaling 20.2 million euros,offset“Other liabilities”recognized for an equivalent amount through a related undertaking(see Note 14).Notes to the parent company fnancial statementsParent company fnancial statements:Christian Dior10Parent company financial statements as of D

53、ecember 31,2024Note 11.Short-term investments11.1 Treasury sharesAs of December 31,2024,the value of the shares held was allocated as follows:(EUR millions)AsofDecember31,2024Number ofsharesGrosscarryingamountImpairmentNetcarryingamountShares intended to be granted to employees and allocated to spec

54、ific plans-Shares available to be granted to employees96,93616.7-16.7Short-terminvestments96,93616.7-16.7There were no portfolio movements during the fiscal year.11.2 Stock option and similar plans11.2.1 Share purchase option plansAt the Companys Shareholders Meeting of April 18,2024,the shareholder

55、s renewed the authorization given to the Board of Directors,for a period of twentysix months expiring on June 17,2026,to grant share subscription or purchase options to Group company employees or senior executives,on one or more occasions,in an amount not to exceed 1%of the Companys share capital as

56、 of the date of this authorization.Each share purchase option plan has a term of ten years.Provided the conditions set by the plan are met,options may be exercised after a fouryear period from the plans commencement date.No Christian Dior share purchase or subscription option plans were in effect du

57、ring the fiscal year.11.2.2 Bonus share and performance share plansAt the Shareholders Meeting of April 18,2024,the shareholders renewed the authorization given to the Board of Directors,for a period of twentysix months expiring on June 17,2026,to grant existing or newly issued shares as bonus share

58、s to Group company employees and/or senior executives,on one or more occasions,in an amount not to exceed 1%of the Companys share capital on the date of this authorization.For plans put in place after November 30,2015,bonus shares awarded to all recipients vest provided certain conditions are met an

59、d irrespective of their residence for tax purposes after a threeyear vesting period,without any subsequent holding period.The plans combine awards of bonus shares and of performance shares in proportions determined in accordance with the recipients level in the hierarchy and status.Vesting of such s

60、hares does not lead to any dilution for shareholders,since they are allocations of existing shares.No Christian Dior bonus share or performance share plans were in effect during the fiscal year.Notes to the parent company fnancial statementsParent company fnancial statements:Christian Dior11Parent c

61、ompany financial statements as of December 31,2024Note 12.Equity12.1 Share capitalAs of December 31,2024,the share capital consisted of 180,507,516 fully paidup shares,each with a par value of 2 euros per share,including 176,474,116 shares with double voting rights.12.2 Change in equity(EUR millions

62、)EquityasofDecember31,2023(priortoappropriationofnetprofit)4,378.4Net profit for the fiscal year ended December 31,20242,672.0Dividends paid in respect of the fiscal year ended December 31,2023(1,353.8)Impact of treasury shares1.3Interim dividends paid in respect of the fiscal year ended December 31

63、,2024(992.8)EquityasofDecember31,2024(priortoappropriationofnetprofit)4,705.1The appropriation of net profit for fiscal year 2023 was approved at the Combined Shareholders Meeting of April 18,2024.Note 13.Changes in impairmentChanges in asset impairment and provisions for contingencies and losses du

64、ring the fiscal year break down as follows:(EUR millions)AmountasofJanuary1,2024Provisions duringthefiscalyearReversals duringthefiscalyearAmountasofDecember31,2024Equity investments58.910.70.469.3Assetimpairment58.910.70.469.3Total58.910.70.469.3Note 14.Other debt(EUR millions)TotalAmountOf which:A

65、ccrued expensesOf which:Related companiesLessthan 1yearFrom1to5yearsMorethan5yearsTrade accounts payable2.6 2.6-1.12.3Tax and social security liabilities0.2 0.2-0.2-Other debt20.7 20.7-20.1Otherdebt23.623.6-1.322.4Notes to the parent company fnancial statementsParent company fnancial statements:Chri

66、stian Dior12Parent company financial statements as of December 31,2024Note 15.Other information15.1 Related-party transactionsNo new relatedparty agreements,within the meaning of Article R.123198 of the French Commercial Code,were entered into during the fiscal year in material amounts or under cond

67、itions other than normal market conditions.15.2 Identity of the consolidating parent companiesCompanynameRegisteredofficeSIRENFinancire Agache11 rue Franois 1er 75008 Paris(France)775 625 767Agache41 avenue Montaigne 75008 Paris(France)314 685 454Note 16.Financial commitmentsCommitmentsreceivedChris

68、tian Dior SE has access to a confirmed credit line entered into with a bank,of which the undrawn amount available totaled 200 million euros as of December 31,2024.Subsidiaries and equity investmentsParent company fnancial statements:Christian Dior13Parent company financial statements as of December

69、31,20245.Subsidiaries and equity investments(EUR millions)CarryingamountofsharesheldDividendsreceivedin2024LoansandadvancesprovidedDepositsandsuretiesgrantedGrossNetInformationonsubsidiariesandequityinvestments1.Subsidiaries(morethan50%held)French subsidiaries52.830.0-27.4-Foreign subsidiaries56.09.

70、5-2.Equityinvestments(between10%and50%held)LVMH Mot Hennessy Louis Vuitton SE4,392.04,392.02,720.6-Total4,500.84,431.52,720.627.4-Company results over the last fve fscal yearsParent company fnancial statements:Christian Dior14Parent company financial statements as of December 31,20246.Company result

71、s over the last five fiscal years(EUR millions,except earnings per share,expressed in euros)Dec.31,2020Dec.31,2021Dec.31,2022Dec.31,2023Dec.31,20241.SharecapitalShare capital361.0361.0361.0361.0361.0 Number of ordinary shares outstanding180,507,516180,507,516180,507,516180,507,516180,507,516 Maximum

72、 number of future shares to be created:through exercise of equity warrants-through exercise of share subscription options-2.OperationsandprofitforthefiscalyearRevenue before taxes-Profit before taxes,depreciation,amortization,impairment and movements in provisions947.91,440.32,495.92,607.12,715.2 In

73、come tax(income)/expense9.818.030.933.034.3 Profit after taxes,depreciation,amortization,impairment and movements in provisions934.31,432.82,451.12,576.62,672.0 Profit distributed as dividends(a)1,083.01,805.12,166.12,256.32,346.6 3.Earningspershare(EUR)Earnings per share after taxes but before depr

74、eciation,amortization,impairment and movements in provisions5.207.8813.6614.2614.85 Earnings per share after taxes,depreciation,amortization,impairment and movements in provisions5.187.9413.5814.2714.80 Gross dividend distributed per share(b)6.0010.0012.0012.5013.00 4.EmployeesAverage number of empl

75、oyees-Total payroll(c)0.27.20.20.20.2 Amounts paid in respect of employee benefits0.13.70.10.10.1(a)Amount of the distribution resulting from the resolution of the Shareholders Meeting,before the impact of Christian Dior treasury shares held as of the distribution date.For the fiscal year ended Dece

76、mber 31,2024,amount proposed by the Board of Directors at its meeting of January 28,2025 for approval at the Shareholders Meeting of April 17,2025.(b)Excluding the impact of tax regulations applicable to recipients.(c)Including provisions,on plans deemed exercisable relating to share purchase option

77、s and awards of bonus shares and performance shares,recognized under“Personnel costs”.Statutory Auditors report on the parent company fnancial statementsParent company fnancial statements:Christian Dior15Parent company financial statements as of December 31,20247.Statutory Auditors report on the par

78、ent company financial statementsTo the Shareholders Meeting of Christian Dior SEI.OpinionIn compliance with the engagement entrusted to us by the Shareholders Meeting,we have audited the accompanying parent company financial statements of Christian Dior SE for the fiscal year ended December 31,2024.

79、In our opinion,the parent company financial statements give a true and fair view of the Companys assets,liabilities and financial position as of December 31,2024 and of the results of its operations for the fiscal year then ended in accordance with French accounting principles.The audit opinion expr

80、essed above is consistent with our report to the Performance Audit Committee.II.BasisforouropinionAuditframeworkWe conducted our audit in accordance with professional standards applicable in France.We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis f

81、or our opinion.Our responsibilities under those standards are further described in the section of our report entitled“Statutory Auditors responsibilities for the audit of the parent company financial statements”.IndependenceWe conducted our audit engagement in compliance with the independence rules

82、provided by the French Commercial Code(Code de commerce)and the French Code of Ethics(Code de dontologie)for Statutory Auditors,for the period from January 1,2024 to the date of our report.We did not provide any prohibited nonaudit services referred to in Article 5(1)of Regulation(EU)No.537/2014.III

83、.JustificationofassessmentsKeyauditmattersIn accordance with the requirements of Articles L.82153 and R.821180 of the French Commercial Code(Code de commerce)relating to the justification of our assessments,we are required to inform you of the key audit matters relating to risks of material misstate

84、ment which,in our professional judgment,were of most significance in our audit of the parent company financial statements for the fiscal year,as well as how we addressed those risks.We determined that there were no key audit matters to disclose in our report.IV.SpecificverificationsWe also performed

85、,in accordance with professional standards applicable in France,the specific verifications required by laws and regulations.InformationprovidedintheManagementReportandintheotherdocumentsgiventoshareholdersrelatedtothefinancialpositionandtheparentcompanyfinancialstatementsWe have no matters to report

86、 as to the fair presentation and the consistency with the parent company financial statements of the information provided in the Management Report of the Board of Directors and in the other documents given to shareholders related to the financial position and the parent company financial statements.

87、We attest to the fair presentation and the consistency with the parent company financial statements of the information on payment terms set out in Article D.4416 of the French Commercial Code.Statutory Auditors report on the parent company fnancial statementsParent company fnancial statements:Christ

88、ian Dior16Parent company financial statements as of December 31,2024InformationoncorporategovernanceWe attest that the corporate governance section of the Management Report of the Board of Directors sets out the information required by Articles L.225374,L.221010 and L.22109 of the French Commercial

89、Code.Concerning the information provided in accordance with the requirements of Article L.22109 of the French Commercial Code relating to compensation and benefits paid or awarded to company officers and any other commitments made in their favor,we have verified its consistency with the financial st

90、atements or the underlying information used to prepare these financial statements and,where applicable,with the information obtained by your Company from controlled companies included in the scope of consolidation.Based on this work,we attest to the accuracy and fair presentation of this information

91、.With respect to the information relating to items that your Company considered likely to have an impact in the event of a public purchase or exchange offer,provided pursuant to Article L.221011 of the French Commercial Code,we verified their compliance with the source documents communicated to us.B

92、ased on our work,we have no observations to make on this information.OtherinformationIn accordance with French law,we have verified that the required information concerning the identity of the shareholders and holders of the voting rights has been properly disclosed in the Management Report.V.Otherv

93、erificationsorinformationrequiredbylawsandregulationsPresentationformatfortheparentcompanyfinancialstatementsincludedintheAnnualFinancialReportIn accordance with the professional standards governing the procedures to be carried out by the Statutory Auditor on parent company and consolidated financia

94、l statements presented in the European Single Electronic Format,we also checked compliance with this format as defined by Commission Delegated Regulation(EU)2019/815 of December 17,2018 in the presentation of the parent company financial statements included in the Annual Financial Report mentioned i

95、n Article L.45112 I of the French Monetary and Financial Code(Code montaire et financier),prepared under the responsibility of the Chief Financial Officer,under delegation from the Chief Executive Officer.On the basis of our work,we concluded that the presentation of the parent company financial sta

96、tements included in the Annual Financial Report complies,in all material respects,with the European Single Electronic Format.It is not our responsibility to check that the parent company financial statements actually included by your Company in the Annual Financial Report filed with the AMF correspo

97、nd to those on which we performed our work.AppointmentoftheStatutoryAuditorsWe were appointed as Statutory Auditors of Christian Dior SE by the shareholders at the Shareholders Meetings held on May 15,2003(for Forvis Mazars)and April 21,2022(for Deloitte&Associs).As of December 31,2024,Forvis Mazars

98、 was in the 22nd consecutive year of its engagement and Deloitte&Associs was in its third year.Statutory Auditors report on the parent company fnancial statementsParent company fnancial statements:Christian Dior17Parent company financial statements as of December 31,2024VI.Responsibilitiesofmanageme

99、ntandthosechargedwithgovernancefortheparentcompanyfinancialstatementsManagement is responsible for the preparation and fair presentation of the parent company financial statements in accordance with French accounting principles and for such internal control as management determines is necessary to e

100、nable the preparation of parent company financial statements that are free from material misstatement,whether due to fraud or error.In preparing the parent company financial statements,management is responsible for assessing the Companys ability to continue as a going concern,for disclosing any matt

101、ers related to going concern,and for using the going concern basis of accounting unless it is expected to liquidate the Company or to cease operations.The Performance Audit Committee is responsible for monitoring the financial reporting process and the effectiveness of internal control and risk mana

102、gement systems and where applicable,internal audit,regarding accounting and financial reporting procedures.The parent company financial statements have been approved by the Board of Directors.VII.StatutoryAuditorsresponsibilitiesfortheauditoftheparentcompanyfinancialstatementsObjectivesandauditappro

103、achOur role is to issue a report on the parent company financial statements.Our objective is to obtain reasonable assurance as to whether the parent company financial statements taken as a whole are free from material misstatement.Reasonable assurance is a high level of assurance,but is not a guaran

104、tee that an audit conducted in accordance with professional standards will always detect a material misstatement when it exists.Misstatements can arise from fraud or error and are considered material if,individually or in the aggregate,they could reasonably be expected to influence the economic deci

105、sions of users taken on the basis of these financial statements.As specified in Article L.82155 of the French Commercial Code(Code de commerce),our statutory audit does not include assurance on the viability or the quality of management of your Company.As part of an audit conducted in accordance wit

106、h professional standards applicable in France,the Statutory Auditor exercises professional judgment throughout the audit.The Statutory Auditor also:identifies and assesses the risks of material misstatement of the parent company financial statements,whether due to fraud or error;designs and performs

107、 audit procedures responsive to those risks;and obtains audit evidence considered to be sufficient and appropriate to provide a basis for its opinion.The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error,as fraud may involve collusion,forg

108、ery,intentional omissions,misrepresentations,or overriding internal control;obtains an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances,but not for the purpose of expressing an opinion on the effectiveness of intern

109、al control;assesses the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management in the parent company financial statements;assesses the appropriateness of managements use of the going concern basis of accounting and,based

110、on the audit evidence obtained,whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Companys ability to continue as a going concern.This assessment is based on the audit evidence obtained up to the date of its audit report.However,future events

111、 or conditions may cause the Company to cease to continue as a going concern.If the Statutory Auditor concludes that a material uncertainty exists,there is a requirement to draw attention in the audit report to the related disclosures in the parent company financial statements or,if such disclosures

112、 are not provided or inadequate,to issue a qualified or adverse audit opinion;assesses the overall presentation of the parent company financial statements and whether these statements represent the underlying transactions and events in a manner that achieves fair presentation.Statutory Auditors repo

113、rt on the parent company fnancial statementsParent company fnancial statements:Christian Dior18Parent company financial statements as of December 31,2024ReporttothePerformanceAuditCommitteeWe submit a report to the Performance Audit Committee which includes in particular a description of the scope o

114、f the audit and the audit program implemented,as well as the results of our audit.We also report any significant deficiencies in internal control regarding the accounting and financial reporting procedures that we have identified.Our report to the Performance Audit Committee includes the risks of ma

115、terial misstatement that,in our professional judgment,were of most significance in the audit of the parent company financial statements for the fiscal year and which are therefore the key audit matters that we are required to describe in this report.We also provide the Performance Audit Committee wi

116、th the declaration provided for in Article 6 of Regulation(EU)No.537/2014,confirming our independence within the meaning of the rules applicable in France such as they are set out in particular by Articles L.82127 to L.82134 of the French Commercial Code(Code de commerce)and in the French Code of Et

117、hics(Code de dontologie)for Statutory Auditors.We discuss any risks that may reasonably be thought to bear on our independence,and the related safeguards,with the Performance Audit Committee.ParisLa Dfense,February 14,2025The Statutory AuditorsFrench original signed byForvis MazarsDeloitte&AssocisIs

118、abelle SapetGuillaume MachinGuillaume TroussicotThis is a free translation into English of the Statutory Auditors report on the parent company financial statements of the Company,issued in French.It is provided solely for the convenience of Englishspeaking users.This Statutory Auditors report includ

119、es information required under European regulations and French law,such as information about the appointment of the Statutory Auditors and the verification of information concerning the Group presented in the Management Report.This report should be read in conjunction with,and construed in accordance

120、 with,French law and professional auditing standards applicable in France.Statutory Auditors special report on relatedparty agreementsParent company fnancial statements:Christian Dior19Parent company financial statements as of December 31,20248.Statutory Auditors special report on related-party agre

121、ementsTo the Shareholders Meeting of Christian Dior SEIn our capacity as Statutory Auditors of your Company,we hereby present to you our report on relatedparty agreements.We are required to inform you,on the basis of the information provided to us,of the terms and conditions of those agreements indi

122、cated to us,or that we may have identified in the performance of our engagement,as well as the reasons justifying why they benefit the Company.We are not required to give our opinion as to whether they are beneficial or appropriate or to ascertain the existence of other agreements.It is your respons

123、ibility,in accordance with Article R.22531 of the French Commercial Code(Code de commerce),to assess the relevance of these agreements prior to their approval.In accordance with Article R.22531 of the French Commercial Code,we are also required to inform you of the continuation of the implementation

124、,during the fiscal year under review,of any agreements previously approved at a Shareholders Meeting.We performed those procedures which we deemed necessary in compliance with professional guidance issued by the French National Institute of Statutory Auditors(Compagnie Nationale des Commissaires aux

125、 Comptes)relating to this type of engagement.These procedures consisted in verifying the consistency of the information provided to us with the relevant source documents.I.AgreementssubmittedforapprovalattheShareholdersMeetingWe hereby inform you that we were not informed of any agreements authorize

126、d and entered into during the fiscal year under review to be submitted for approval at the Shareholders Meeting,pursuant to the provisions of Article L.22538 of the French Commercial Code.II.AgreementsalreadyapprovedataShareholdersMeetingIn accordance with Article R.22530 of the French Commercial Co

127、de,we have been notified that the implementation of the following agreements,which were approved at a Shareholders Meeting in a prior fiscal year,remained in effect during the fiscal year under review.WithLVMHMotHennessyLouisVuittonSE:ServiceagreementPersons concerned Bernard Arnault,Chairman of the

128、 Board of Directors of your Company,and Chairman and Chief Executive Officer of LVMH Mot Hennessy Louis Vuitton SE;Antoine Arnault,Chief Executive Officer and ViceChairman of the Board of Directors of your Company,and a Director of LVMH Mot Hennessy Louis Vuitton SE;Delphine Arnault,a Director of yo

129、ur Company and of LVMH Mot Hennessy Louis Vuitton SE;Nicolas Bazire,a Director of your Company and of LVMH Mot Hennessy Louis Vuitton SE.Nature,purpose and conditionsThe service agreement of June 7,2002,amended on May 16,2014 and relating to legal services,particularly for corporate law issues and t

130、he management of securities services,entered into between the Company and LVMH SE,remained in effect in 2024.Annual remuneration is 60,000 euros excluding taxes.Under this agreement,Christian Dior SE incurred an expense of 72,000 euros(including taxes)for fiscal year 2024.Christian Dior SE has no em

131、ployees directly under its employment.The assistance agreement entered into with LVMH SE provides for the sharing of skills as well as certain costs,thus reducing expenses.Statutory Auditors special report on relatedparty agreementsParent company fnancial statements:Christian Dior20Parent company fi

132、nancial statements as of December 31,2024 WithAgacheSCA:AssistanceagreementPersons concerned Bernard Arnault,Chairman of the Board of Directors of your Company and Managing Director and General Partner(associ commandit)of Agache SCA.Nature,purposeandconditionsThe assistance agreement of November 27,

133、1995,amended on June 30,2020,related to financial,legal,tax and administrative services entered into between Agache SCA and Christian Dior SE remained in effect in 2024.The compensation for these services amounted to 2,618,121.76 euros excluding taxes in 2024,in accordance with the agreement.Under t

134、his agreement,Christian Dior SE incurred an expense of 3,141,746.12 euros(including taxes)for fiscal year 2024.Christian Dior SE has no employees directly under its employment.The assistance agreement entered into with Agache SCA provides for the sharing of skills as well as certain costs,thus reduc

135、ing expenses.ParisLa Dfense,February 14,2025The Statutory AuditorsFrench original signed byForvis MazarsDeloitte&AssocisIsabelle SapetGuillaume MachinGuillaume TroussicotThis is a free translation into English of a report issued in French and is provided solely for the convenience of Englishspeaking users.This report should be read in conjunction with,and construed in accordance with,French law and professional auditing standards applicable in France.Design and production:Agence Marc Praquin30,avenue Montaigne Paris 8e