AFD - Universal Registration Document 2020

CONSOLIDATED FINANCIAL STATEMENTS PREPARED IN ACCORDANCE WITH IFRS Overview

6.1.5 Cash flow statement at 31 Ǿ December Ǿ 2020

31/12/2020

31/12/2019

In thousands of euros PRE-TAX INCOME Ǿ (A)

30,302 24,851 14,772

190,789

Depreciation/amortization and impairment of property, plant, equipment and intangible assets Net depreciation/amortisation provisions on fixed assets related to the application of IFRS Ǿ 16

33,117 14,462

Impairment of goodwill and other fixed assets

-

6,714

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

221,116

233,686

6,305

1,584

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

-37,505 69,574 -61,646 237,467 -1,543,327 -2,966,437

-19,630 13,571

Other items

-700

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

282,803 -1,190,099 -1,842,866

Cash flows from credit institutions and equivalent

Cash received from customers

Cash flows from other operations affecting other financial assets or liabilities/Cash flows in net trading securities and net derivatives

-111,626

223,652 -165,689 -10,543

Cash flows from operations affecting non-financial assets or liabilities

7,956 -1,640

Taxes paid

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

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

-2,985,545 -2,511,953 -260,045 -41,405 -301,450 -12,993 257,000 -65,101 2,752,448 2,931,354 3,294,756 1,399,405 1,895,351 3,412,707 1,259,072 2,153,635 117,951

Net cash flows from operating activities (A + B + C) Cash flows from financial assets and equity investments* Cash flows from property, plant and equipment and intangible assets

-91,582 -17,875

Net cash flows from investment activities Cash flows related to the application of IFRS Ǿ 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 1,371,608

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

6

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 and cash equivalents

Net balance of on demand loans and deposits from credit institutions

Ending balance of cash and cash equivalents Net balance of cash and cash equivalents (1)

Net balance of on demand loans and deposits from credit institutions (2)

Change in cash and cash equivalents

117,951

(1) Net balance of “Cash accounts and accounts with central banks” as it appears in the Group’s consolidated balance sheet at 31 Ǿ December Ǿ 2020. (2) Net balance of “Demand receivables and payables from/to credit institutions”. * The flows related to fi nancial 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 fi nancing activities correspond to market borrowings carried out by AFD to meet the growth in its operating activity (see Ǿ 1.1 Business fi nancing).

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2020 UNIVERSAL REGISTRATION DOCUMENT