AFD - Universal Registration Document 2020

FINANCIAL INFORMATION Economic presentation of the consolidated financial statements

COST OF RISK The cost of risk changed significantly in comparison with the previous financial year. It represented an expense of €269M compared with €150M in Ǿ 2019 and breaks down as follows:

Cost of risk

2020 -191

2019 -117

Change

AFD

-74 -45

Proparco Sogefom

-77

-31

-1

-1

0

GROUP TOTAL

-269

-150

-119

PRE-TAX INCOME The share of equity-accounted companies (1) (-€6.3M) was down compared with the previous year, mainly as a result of the -€7M decrease in SIC’s income. Operating income before tax thus came to €5M in Ǿ 2020 (compared with €200M in Ǿ 2019). NET INCOME The interests of the minority shareholders of Proparco and Sogefom amounted to (-€24.9M) and deferred taxes net of current taxes amounted to +€10M, while income, Group share, was positive and amounted to €40.4M.

The increase in the cost of risk over the financial year is mainly due to the increase in collective provisions of €109.8M related to the health situation. OPERATING INCOME The drop in operating income of €12M compared to €202M in Ǿ 2019 is due to the increase in the cost of risk in connection with the health crisis and the decrease in NBI of respectively (-€269M in Ǿ 2020 versus €150M in Ǿ 2019 and €839M versus €764M in Ǿ 2020).

5

(1) Corresponds to the share of earnings from the equity-accounted companies in the Group’s consolidated financial statements.

117

2020 UNIVERSAL REGISTRATION DOCUMENT