AFD // 2021 Universal Registration Document

CONSOLIDATED FINANCIAL STATEMENTS Overview

6.1.5 Cash fl ow statement at 31 ɸ December 2021

31/12/2021

31/12/2020

In thousands of euros

PRE-TAX INCOME ɸ (A)

333,613

5,335 24,851 14,772

Net depreciation/amortisation expenses on property, plant and equipment and intangible assets Net depreciation/amortisation provisions on fixed assets related to the application of IFRS ɸ 16

27,521 14,600

Impairment of goodwill and other fixed assets

0

0

Provisions net of other provisions (including technical insurance provisions) Share of earnings from companies accounted for by the equity method

63,897 -6,540 -27,166 181,784 61,404 315,501 -776,463 -2,811,701

221,116

6,305

Net loss/(net gain) on investment activities Net loss/(net gain) on financing activities

-37,505 69,574 -36,679

Other items (1)

TOTAL NON-CASH ITEMS INCLUDED IN NET PRE-TAX INCOME AND OTHER ITEMS ɸ (B)

262,434 -1,543,327 -2,966,437

Cash received from credit institutions and equivalent

Cash received from customers

Cash flows from other operations affecting other financial assets or liabilities Cash flows from operations affecting non-financial assets or liabilities

135,593 -786,578 -16,041

-111,626

7,956 -1,640

Taxes paid

= ɸ NET INCREASE (DECREASE) IN CASH-RELATED ASSETS AND LIABILITIES FROM OPERATING ACTIVITIES ɸ (C)

-4,255,191 -3,606,077 -144,562 -39,876 -184,437 -15,659 775,000 -21,110 2,668,234 3,406,465 -384,049 4,784,315 3,157,677 1,626,638 4,400,266 2,085,492 2,314,774 -384,049

-4,615,074 -4,347,305

Net cash flows from operating activities (A + B + C) Cash flows from financial assets and equity investments *

-91,582 -17,875

Cash flows from property, plant and equipment and intangible assets

Net cash flows from investment activities Cash flows related to the application of IFRS ɸ 16

-109,456 -15,680 530,206 -83,695 5,397,538 5,828,369 1,371,608 3,412,707 1,259,072 2,153,635 4,784,315 3,157,677 1,626,638

Cash flows from shareholders ** Cash flows to shareholders ***

Other net cash flows from financing activities **** Net cash flows from financing activities Net increase/(decrease) in cash and cash equivalents Opening balance of cash and cash equivalents Net balance of cash accounts and accounts with central banks

6

Net balance of on demand loans and deposits from credit institutions and customers

Ending balance of cash and cash equivalents

Net balance of cash accounts and accounts with central banks (2)

Net balance of on demand loans and deposits from credit institutions and customers (3)

Change in cash and cash equivalents 1,371,608 (1) Non-controlling interests have been reallocated over the period to Pre-tax income (A) in order to improve the clarity of the cash flow statement and facilitate reconciliation with the Income Statement. * The flows related to financial assets and equity investments mainly come from the equity investment activity of the Proparco subsidiary and correspond to the flows during the period between acquisitions, disposals and fund raising. ** Cash flows from shareholders correspond to RCS issues. *** Cash flows to shareholders correspond to the dividends paid by AFD to the French State and paid to minority shareholders by the Proparco subsidiary. **** Other net cash flows from financing activities correspond to market borrowings carried out by AFD to meet the growth in its operating activity (see 1.1 Business financing). (2) Net balance of “Cash accounts and accounts with central banks” as it appears in the Group’s consolidated balance sheet at 31 ࣢ December. (3) Net balance of “Demand receivables and payables from/to credit institutions”.

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2021 UNIVERSAL REGISTRATION DOCUMENT