AFD - 2019 Universal registration document

CONSOLIDATED FINANCIAL STATEMENTS PREPARED IN ACCORDANCE WITH IFRS

Notes to the consolidated financial statements

NOTE 20 Financing and guarantee commitments Financing commitments given are the amounts to be disbursed under lending agreements with customers or credit institutions.

31/12/2019

31/12/2018

In thousands of euros

Commitments received Financing commitments received from the French State Guarantee commitments received from the French State on loans

-

1,151,055

611,475 458,055 458,055

Guarantee commitments received from credit institutions

754,142 754,142

as part of the Group’s credit activity

Commitments given Financing commitments made to credit institutions

1,735,164

1,204,162

Financing commitments made to customers

12,767,039

10,775,968

Guarantee commitments made to credit institutions

140,169 584,889

74,730

Guarantee commitments made to customers

522,703

The commitments received do not include transactions on behalf of the State. Financing commitments given are the amounts to be disbursed under lending agreements with customers or credit institutions. The commitment amount is lower than the figure stated in AFD’s individual company financial statements because the transactions on behalf of third parties (IMF, on behalf of the French government) are not included in the Group’s consolidated financial statements. 6.2.4.3 Employee benefits and other compensation The aggregate impacts of the post-employment benefits on the 2018 and 2019 financial years are set out in the table below:

At 31/12/2019

Impact on income

Impact on equity

At 31/12/2018

Impact on income

Impact on equity

At 01/01/2018

In thousands of euros

Provisions for employee benefits

143,714 142,434

7,333 7,157

29,720 106,660 29,720 105,558

17,115 16,977

-2,020 -2,020

91,565 90,601

Defined benefit plans

Other long-term benefits 964 The sensitivity analysis, based on the actuarial assumptions used to value the defined benefit plans at year-end, is as follows: 1,279 177 1,102 139

6

Retirement As a% of change

In thousands of euros

Present value of the commitment at 31/12/2019 P Discount rate: 0.00%

P Annual increase in salary: 2.00% P Retirement age: 63 (non-executive level employees)/ 65 (executive level employees) Sensitivity to the discount rate assumption Rate change to 0.25%

28.2

28.0 28.5

-0.8%

Rate change to 0.25%

1.0%

Sensitivity to the career profile assumption Rate change to 2.50%

28.8 27.6

2.0%

Rate change to 1.5%

-2.2%

Sensitivity to the retirement age assumption P increase of 1 Ǿ year (for all guarantees)

28.6 27.9

1.3%

P reduction of 1 Ǿ year (for all guarantees)

-1.1%

145

UNIVERSAL REGISTRATION DOCUMENT 2019