AFD - Universal Registration Document 2020

FINANCIAL INFORMATION 5

Economic presentation of the consolidated financial statements

The change in total assets is also due to changes in cash and cash equivalents (€7,654M), a marked increase over the financial year (+€2,114M). 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.

Short-term cash assets

2020 7,244

2019 5,346

Change

AFD

1,898

Proparco

383

153

231

Fisea

8 0 5

22

-14

Socredo Soderag Sogefom

0 5

0 0

13

15

-1

Other subsidiaries GROUP TOTAL

0

0

0

7,654

5,540

2,114

P outstanding borrowings from the French Treasury amounted to €1,535M versus €1,288M in Ǿ 2019. This increase was mainly linked to the receipt of a resource with special conditions for a total of €247M. Other liabilities amounted to €6,048M in Ǿ 2020 (€5,477M in Ǿ 2019). They include the following items: P hedging derivatives of €2,168M (€1,846M in Ǿ 2019); P provisions of €1,287M (€1,152M in Ǿ 2019); P collateral of €1,317M (€1,181M in Ǿ 2019); P funds under management and advances from the State of €458M (€468M in Ǿ 2019); P current accounts and accruals and other liabilities of €811M (€830M in Ǿ 2019). Other liabilities include €7.4M 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 2020 are shown below:

Other assets amounted to €7,057M in Ǿ 2020 versus €6,621M in Ǿ 2019 and represented 13% of total assets. They include the following items: P financial hedging derivatives of €3,194M (€2,704M in Ǿ 2019); P other equity investments for €1,658M (€1,843M in Ǿ 2019); P fixed assets, accruals and other assets of €606M (€508M in Ǿ 2019); P the investment portfolio of €762M (€713M in Ǿ 2019); P collateral of €674M (€707M in Ǿ 2019); P equity-accounted equity stakes of €140M (€147M in Ǿ 2019). LIABILITIES AFD Group borrowings totalled €41,903M in Ǿ 2020. They consist of the following items: P outstanding market borrowings stood at €40,368M at 31 Ǿ December Ǿ 2020, an increase of €5,888M on 31 Ǿ December Ǿ 2019 as a result of 21 bonds issues;

31/12/2020

31/12/2019

Unmatured debt

Unmatured debt

31- 60 Ǿ days

61 Ǿ days or more

Supplier debt

0- 30 Ǿ days

31- 60 Ǿ days

61 Ǿ days or more

Supplier debt

0-30 Ǿ days

TOTAL

Total

In millions of euros Trade payables

0.6

5.0

0.0

1.7

7.4

1.8

0.0

0.0

4.2

4.2

114

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2020 UNIVERSAL REGISTRATION DOCUMENT