EDF / 2018 Reference document

6.

FINANCIAL STATEMENTS Financial statements

CASH FLOW STATEMENT

Notes

2018

2017

(in millions of euros)

Operating activities: Profit/(loss) before income tax

835

1,237 4,010 (859) (827) 2,530 6,091

Amortisation, depreciation and provisions

7,153 (499)

Capital (gains)/losses (1)

Financial income and expenses Changes in working capital (2)

(2,133)

3,238 8,594 1,435

NET CASH FLOW FROM OPERATIONS

Net financial expenses, including dividends received

620

Income taxes paid

(29)

(677) 6,034

(A)

10,000

NET CASH FLOW FROM OPERATING ACTIVITIES

Investing activities: Investments in property, plant and equipment and intangible assets Proceeds from sale of property, plant and equipment and intangible assets

(5,982)

(5,984)

24

17

Changes in financial assets (3)

(4,776) (10,734)

1,022

(B)

(4,945)

NET CASH FLOW USED IN INVESTING ACTIVITIES Financing activities: Issuance of borrowings and underwriting agreements Repayment of borrowings and underwriting agreements

4,938

1,282

(2,435)

(5,204)

Dividends paid

24 24

(513)

(110) 4,005

Issuance of perpetual subordinated bonds

-

Funding contributions received for assets operated under concessions

6

8 4

Investment subsidies

11

(C)

2,007 1,273

(15)

NET CASH FLOW FROM FINANCING ACTIVITIES

(A)+(B)+(C)

1,074

NET INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS CASH AND CASH EQUIVALENTS - OPENING BALANCE

22

(2,875)

(3,981)

Effect of currency fluctuations

(13)

(23)

Financial income on cash and cash equivalents

52

55

22

(1,563)

(2,875)

CASH AND CASH EQUIVALENTS - CLOSING BALANCE (4)

Including the balance of the gain on sale of all the shares of RTE to CTE, amounting to €388 million in 2017. (1) Including in 2018 a positive impact of €2,068 million on working capital and therefore on cash, following changes in the classification of cash (2) management and underwriting agreements, particularly concerning the holding companies (see note 22). In 2017, this item includes the acquisition of Framatome for €1,894 million. (3) “Cash and cash equivalents – opening balance” and “Cash and cash equivalents – closing balance” do not include investment funds or negotiable debt (4) instruments maturing in more than three months. Details of the variation in cash and cash equivalents are presented in note 22.

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EDF I Reference Document 2018