EDF / 2018 Reference document

6.

FINANCIAL STATEMENTS Operating assets and liabilities, equity

27.5

NON-CONTROLLING INTERESTS (MINORITY INTERESTS)

27.5.1

Details of non-controlling interests

31/12/2018 Net income attributable to non- controlling interests

31/12/2017 Net income attributable to non- controlling interests

Equity (non- controlling interests)

Equity (non- controlling interests)

Ownership %

(in millions of euros)

Principal non-controlling interests: EDF Energy Nuclear Generation Ltd.

20.0% 33.5%

2,612 2,849

(21)

2,687 2,138

23

NNB Holding Ltd.

(3) 11

-

EDF Investissements Groupe SA

6.1%

516 380 258

516 388 209

11

EDF Luminus SA

31.4% 24.5%

(21)

2

Framatome

40

-

Other non-controlling interests

- -

1,562 8,177

8

1,403 7,341

80

14

116

TOTAL

Non-controlling interests in EDF Energy Nuclear Generation Ltd. (formerly British Energy), which is owned 80% by the Group via EDF Energy, correspond to Centrica’s share. Non-controlling interests in NNB Holding Limited, the holding company for the Hinkley Point C project, which is owned 66.5% by the Group via EDF Energy, correspond to CGN’s share. Non-controlling interests in Framatome, the Group which was acquired on 31 December 2017 (see note 3.11.2) and is owned 75.5% by the Group via EDF SA, correspond to the 19.5% share held by Mitsubishi Heavy Industries and the 5% share held by Assystem. Non-controlling interests in EDF Luminus correspond to the investments held by Belgian local authorities. Non-controlling interests in EDF Investissements Groupe correspond to the investment held by Natixis Belgique Investissements. 27.5.2 The key financial indicators (100% basis) for EDF Energy Nuclear Generation Ltd. are as follows: Non-controlling interests in EDF Energy

Other non-controlling interests in 2017 principally comprised the investments held by Total and Fluxys in Dunkerque LNG, and minority interests in Sizewell C Holding Co and subsidiaries of the Edison and EDF Renewables subgroups. In 2018 they mainly comprise minority interests in Sizewell C Holding Co and subsidiaries of the Edison and EDF Renewables subgroups. Other non-controlling interests also include instruments in the form of bonds convertible into shares, issued by the Dalkia group and subscribed by minority interests, amounting to a total €260 million at 31 December 2018 (€124 million in 2017). The changes over the year are mainly explained by convertible bond issues totalling €157 million. These bonds qualify as equity instruments under IAS 32, and analysis of voting rights and corporate governance confirms the continuation of exclusive control by Dalkia. In the statement of cash flows, this operation is presented in cash flows from financing activities.

31/12/2018

31/12/2017

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

21,304 3,289 24,593 13,061 10,805

21,149 3,228 24,377 13,433 10,252

Equity

Non-current liabilities

Current liabilities

727

692

24,593 2,765

24,377 3,070

TOTAL EQUITY AND LIABILITIES

Sales

Net income

(106) (100)

135

Gains and losses recorded directly in equity Net cash flow from operating activities Net cash flow from investing activities Net cash flow from financing activities

(220)

649

867

(555) (113)

(514) (328)

483 (19)

468

CASH AND CASH EQUIVALENTS – OPENING BALANCE Net increase/(decrease) in cash and cash equivalents

25

Effect of currency fluctuations

1 7

(10)

Other

-

472

483

CASH AND CASH EQUIVALENTS – CLOSING BALANCE Dividends paid to shares of non-controlling interests

23

70

378

EDF I Reference Document 2018