AFD - 2019 Universal registration document

FINANCIAL INFORMATION

Economic presentation of the consolidated financial statements

The change in total balance sheet assets also reflects the change in cash (€5,540M), which rose sharply during the year (+€614M). This increase is mainly due to the level of cash at AFD, linked to bond maturities and expected disbursements at the beginning of the year.

2019

Short-term cash assets

2018

Change

AFD

5,346

4,798

548

Proparco

153

85 21

67

Fisea

22

0 0 0 0

Socredo Soderag Sogefom

0 5

0 5

15

15

Other subsidiaries

0

1

-1

GROUP TOTAL

5,540

4,926

614

Other assets amounted to €6,621M in 2019 versus €5,145M in 2018 and represented 14% of total assets. They include the following items: P financial hedging derivatives of €2,704M (€2,026M in 2018); P other equity investments for €1,843M (€1,497M in 2018); P fixed assets, accruals and other assets of €508M (€320M in 2018); P the investment portfolio of €713M (€764M in 2018); P collateral of €707M (€387M in 2018); P equity-accounted equity stakes of €147M (€146M in 2018). LIABILITIES AFD Group borrowings totalled €35,768M in 2019. They consist of the following items: P outstanding market borrowings stood at €34,480M at 31 Ǿ December Ǿ 2019, an increase of €3,237M on

31 Ǿ December Ǿ 2018 as a result of 21 bonds issued since the beginning of 2019; P outstanding borrowings from the French Treasury amounted to €1,288M versus €1,048M in 2018. This increase was mainly linked to the receipt of a resource with special conditions for a total of €240M. Other liabilities amounted to €5,477M in 2019 (€4,380M in 2018). They include the following items: P hedging derivatives of €1,846M (€1,279M in 2018); P provisions of €1,152M (€1,002M in 2018); P collateral of €1,181M (€957M in 2018); P funds under management and advances from the State of €468M (€467M in 2018); P current accounts and accruals and other liabilities of €830M (€676M in 2017). Other liabilities include €4M in trade payables. In accordance with Article Ǿ L.441-6 of the French Commercial Code, the due dates of the trade payables at 31 Ǿ December Ǿ 2019 are shown below:

5

31/12/2019

31/12/2018

Unmatured debt

Unmatured debt

61 b days or more

61 b days or more

Supplier debt

61 b days or more

61 b days or more

Supplier debt

0-30 b days

Total

0-30 b days

Total

In millions of euros

trade payables

1.8

0.0

0.0

4.2

4.2

1.7

0.0

0.0

7.8

9.5

105

UNIVERSAL REGISTRATION DOCUMENT 2019