EDF / 2018 Reference document

6.

FINANCIAL STATEMENTS Balance sheet

ADDITIONAL EQUITY NOTE 25 Additional equity at 31 December 2018 consists of perpetual subordinated bonds issued by EDF in January 2013 and January 2014 at the value of €5,223 million and €3,635 million respectively (net of redemption premiums), after deduction of the redemption undertaken on 3 October 2018 and the bonds issued in 2018 totalling €1,250 million (see notes 2.3 and 2.4).

After adjustment for foreign exchange variations, amortisation of the redemption premium over the year, and the above operations, additional equity amounts to €10,620 million at 31 December 2018. Payments to the bearers of perpetual subordinated bonds totalled €551 million in 2018 (€551 million in 2017). This expense is recorded in “interest and similar income and expenses” (see note 13).

PERPETUAL SUBORDINATED BONDS (in millions of currency units) Issue date

Amount

Currency

Redemption option

Rate

01/2013 01/2013 01/2013 01/2013 01/2014 01/2014 01/2014 01/2014 10/2018

338

EUR EUR GBP USD USD EUR EUR GBP EUR

7 years 12 years 13 years 10 years 10 years 8 years 12 years 15 years 6 years

4.25% 5.38% 6.00% 5.25% 5.63% 4.13% 5.00% 5.88% 4.00%

1,250 1,250 3,000 1,500

662

1,000

750

1,250

SPECIAL CONCESSION LIABILITIES NOTE 26

31/12/2018

31/12/2017

(in millions of euros)

Value in kind of assets Revaluation difference Additional depreciation

108 840 240

107 860 198

Rights in hydropower concession assets

1,188 1,746

1,165 1,695

Value in kind of assets

Unamortised financing by the operator Amortisation of grantor financing

(1,073)

(1,026)

332

319

Contributions received for concessionary plant assets under construction

6

6

Rights in public distribution concession assets (1) TOTAL SPECIAL CONCESSION LIABILITIES

1,011 2,199

994

2,159

Rights in public distribution concession assets concern the Island Energy Systems (SEI) public electricity distribution concessions. (1)

PROVISIONS FOR RISKS NOTE 27

Increases

Decreases

Other

31/12/2017

Operating (1) Financial (2)

Utilisations Reversals Financial

31/12/2018

(in millions of euros)

Provisions for unrealised exchange losses

572 510 302

-

215

-

-

(20)

-

767

Provisions for losses on contracts

900 225

14

(89)

(39) (37) (76)

- -

150

1,446

Provisions for other risks PROVISIONS FOR RISKS

-

(9)

(150)

331

1,384 2,544 The increase to provisions for losses on contracts mainly relates to the long-term contract with Dunkerque LNG (increase of €737 million, see note 2.1). (1) The increase to provisions for unrealised exchange losses mainly concerns losses on perpetual bonds (increase of €178 million in 2018). A reversal of €524 million (2) from these provisions concerning perpetual bonds and long-term bonds issued was recorded in 2017 (see note 13). 1,125 229 (98) (20) -

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EDF I Reference Document 2018