EDF / 2018 Reference document

FINANCIAL STATEMENTS Operating assets and liabilities, equity

23.3

TAISHAN

Taishan – financial indicators 23.3.1 The key financial indicators published for Taishan (on a 100% basis) are as follows:

31/12/2017

31/12/2016

(in millions of euros) Non-current assets Current assets TOTAL ASSETS

11,030

10,936

350

66

11,380 3,316 6,864 1,200 11,380

11,002 3,594 6,563

Equity

Non-current liabilities

Current liabilities

845

11,002

TOTAL EQUITY AND LIABILITIES

Sales

-

-

Net income

(56)

(39)

Dividends paid

-

-

23.3.2 EDF owns 30% of Taishan Nuclear Power Joint Venture Company Limited (TNPJVC), which was set up to build and operate two EPR nuclear reactors in Taishan, in the province of Guangdong in China. CGN holds a 51% stake and Yudean a 19% stake. Framatome has two contracts with TNPJVC: supply of two EPR nuclear islands in a consortium with CNPDC and CNPEC; ■ delivery of fuels (initial core and first refuelling for each unit). ■

Transactions between the EDF group and Taishan

The first reactor began commercial operation on 13 December 2018 (see note 3.1), and the second reactor is due to start commercial operation in 2019. As the tariff preparation is currently in process, an impairment test will be applied once the tariff and the indexing system are known.

6.

23.4

ALPIQ

As Alpiq publishes its consolidated financial statements after the Group, the figures presented here include an estimate for net income at 31 December 2018 (see note 4 to the table in note 23).

Published financial indicators 23.4.1 The main published indicators by the Alpiq group were as follows:

31/12/2016 restated (2)

31/12/2017

(in millions of euros) Non-current assets

4,833 2,858 1,022 8,713 3,388 2,554 2,154

5,394 3,921

Current assets

Assets classified as held for sale

5

9,320 3,619 3,235 2,465

TOTAL ASSETS

Equity (1)

Non-current liabilities

Current liabilities

Liabilities related to assets classified as held for sale

617

1

8,713 6,444

9,320 5,576

TOTAL EQUITY AND LIABILITIES

Sales

Operating profit before depreciation and amortisation

250 (80) 176

714 270 (24)

Net income

Gains and losses recorded directly in equity

Dividends paid to the Group

-

-

Including €869 million of hybrid bonds. (1) The Alpiq group’s balance sheet at 31 December 2016 has been restated to reflect presentation impacts and impacts of the change in classification of certain (2) companies that were previously classified as assets held for sale and are now presented in the balance sheet.

On 25 April 2013, the main Swiss shareholders of Alpiq subscribed a hybrid loan of

hybrid bond amounting to CHF 650 million, with 5% coupon and a redemption

CHF 366.5 million. Following this first step, on 2 May 2013 Alpiq placed a public option after five and a half years at the earliest.

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EDF I Reference Document 2018