AFD - 2019 Universal registration document
FINANCIAL INFORMATION 5
Economic presentation of the consolidated financial statements
The contribution of the Group’s various companies to its net position excluding minority interests is as follows:
2019
Net position
2018
Change
AFD
5,831
5,745
85 53
Proparco Socredo Soderag
330 109 -122
277 106 -122
3 0
Other subsidiaries
-42
-26
-16
GROUP TOTAL
6,106
5,980
126
The “ regulatory” equity (1) amounts to €7,466M at 31 Ǿ December Ǿ 2019 compared with €7,179M at the end of 2018. Tier Ǿ 1 capital for 2019 Ǿ stands at €6,178M (€6,170M in 2018); Tier Ǿ 2 capital stands at €840M (€840M in 2018). AFD paid the French government a dividend of €29M in 2019, compared with €43M in 2018 and €28M in 2017 (distribution rate unchanged at 20%).
Minority interests (share of equity) were reduced to €204M at 31 Ǿ December Ǿ 2019, compared with €217M at the end of 2018. This essentially related to the exercise of the minority put options, with the share held by AFD increasing form 65% in 2018 to 74% in 2019.
5.3.2 Consolidated income statement
2019
2018 Change 2018/2019
In millions of euros
Net banking income
839 440 295 145
646 410 261 149
193.3
Overheads
30.0 34.2
P Staff costs
P Taxes and other general expenses
-4.2
Provisions for depreciation/amortisation on intangible assets and property, plant and equipment
48
23
25.0 55.0
Total expenses on non-banking operations
487 352
432 214 -67
Gross operating income
138.3 -82.6
Cost of risk
-150
Collective provisions
-54 -89 -10
-29 -32
-25.4 -57.4
Individual impairments of non-sovereign loans
Losses on principal of bad loans
-9
-1.3
Other provisions Operating income
4
2
1.5
202
146
55.7
Share of earnings from companies accounted for by the equity method
-2
5 0
-6.1
Net gains or losses on other assets
0
0.0
Pre-tax income
200
151
49.6
Corporate tax
-18
-13
-5.1
Net income
182
138
44.5 12.7 57.2
Minority interests
-10
-22
NET INCOME - GROUP SHARE
172
115
(1) Shareholders’ equity is calculated in compliance with EU Directive 2013/36/EU and Regulation (EU) No 575/2013.
106
UNIVERSAL REGISTRATION DOCUMENT 2019
www.afd.fr
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