AFD - 2019 Universal registration document

CONSOLIDATED FINANCIAL STATEMENTS PREPARED IN ACCORDANCE WITH IFRS

Notes to the consolidated financial statements

❙ Investments in unconsolidated structured entities – Risk exposure and dividends received

31/12/2019

31/12/2018

Available-for- sale financial assets

Dividends received over the year

Available-for- sale financial assets

Dividends received over the year

Maximum exposure

Maximum exposure

In thousands of euros

Homogeneous portfolios Agribusiness

68,443 44,791 78,532

68,443 44,791 78,532

71,664 34,452 62,889

71,664 34,452 62,889

Energy

Infrastructure

Mining

4

4

2,557

2,557

Multi-sector SME-SMI

65,876 51,794

65,876 51,794

70,852 33,492

70,852 33,492

Healthcare

Financial services

233,266 233,266 479,547 479,547

156,697 156,697 362,333 362,333

Multi-sector

STRUCTURED UNCONSOLIDATED ENTITIES – INVESTMENT FUNDS

1,022,251 1,022,251

-

794,935 794,935

-

Note b 1.3 Equity instruments at fair value through pro fi t and loss Equity instruments measured at fair value through profit and loss correspond to investments held by AFD for which the classification at fair value through non-transferable shareholders’ equity has not been selected. At 31 Ǿ December Ǿ 2018, on first-time adoption of IFRS 9, the Group opted for the fair value classification under non-recyclable equity of its portfolio of direct investments without put options, which make up the majority of the Group’s equity instruments.

Bearing in mind the type of interests, maximum exposure to loss is defined in this note as the fair value of the investment fund presented on the balance sheet as of the financial year end. This amount includes financing commitments that have not yet been disbursed. Furthermore, the Group has not and does not offer financial support or other assistance to an unconsolidated structured entity outside of contractual commitments. The AFD Group does not act as a sponsor for structured entities. Sponsorship is assumed when AFD does not have or no longer has an ownership interest in an entity yet still provides this entity with both operational and strategic support.

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UNIVERSAL REGISTRATION DOCUMENT 2019