EDF / 2019 Universal registration document

5. The Group’s financial performance and outlook Operating and financial review in 2019

EXTRACT FROM THE CONSOLIDATED BALANCE SHEET

31/12/2019*

31/12/2018

(in millions of euros)

Intangible and tangible assets Other non-current assets

174,345 55,120 229,465 29,655 36,568

162,219 48,165 210,384 30,137 39,358

Non-current assets

Inventories and trade receivables

Other current assets

Cash and cash equivalents

3,934

3,290

Current assets

70,157

72,785

Assets held for sale TOTAL ASSETS Equity (EDF’s share)

3,662

-

303,284

283,169

46,466

44,469

Equity (non-controlling interests)

9,324

8,177

Total equity

55,790 80,760 47,465 64,225 192,450 54,001

52,646 71,772 46,924 59,012 177,708 52,815

Non-current provisions Special concession assets Non-current other liabilities Non current liabilities

Current liabilities

Liabilities related to assets classified as held for sale

1,043

-

TOTAL EQUITY AND LIABILITIES

303,284

283,169

The financial statements at 31 December 2019 apply IFRS 16 from 1 January 2019 (see note 2.1 to the 2019 consolidated financial statements). *

GROUP CASH FLOW

2019

2018  (1)

Variation

Variation (%)

(in millions of euros)

Group cash flow  (2) (3)

(791)

(601)

(190)

-31.6

The published figures for 2018 have been restated due to the impact of presenting the E&P operations as discontinued operations. (1) The financial statements at 31 December 2019 apply IFRS 16 from 1 January 2019. The comparative figures have not been restated. The impact on Group cash (2) flow would have been +€609 million. Group cash flow is not an aggregate defined by IFRS as a measure of financial performance, and is not comparable with indicators of the same name reported by (3) other companies. It is equivalent to the operating cash flow less asset disposals, income taxes paid, net financial expenses disbursed, allocations to dedicated assets, dividend paid in cash, and investments related to Hinkley Point C and Linky projects (see section 5.1.5.2 of this financial report).

DETAILS OF NET INDEBTEDNESS

31/12/2019

31/12/2018

Variation

Variation (%)

(in millions of euros)

Loans and other financial liabilities Derivatives used to hedge liabilities

67,380 (3,387) (3,934) (18,900)

59,188 (1,972) (3,290) (20,538)

8,192

+13.8 +71.8 +19.6

(1,415)

Cash and cash equivalents

(644) 1,638

Available-for-sale financial assets – Liquid assets

-8.0 n.a.

Net indebtedness of assets held for sale

(26)

-

(26)

NET INDEBTEDNESS  (1) (2)

41,133

33,388

7,745

+23.2

not applicable. n.a.: Net indebtedness is not defined in the accounting standards and is not directly visible in the Group’s consolidated balance sheet. It comprises total loans and (1) financial liabilities, less cash and cash equivalents and liquid assets. Liquid assets are financial assets consisting of funds or securities with initial maturity of over three months that are readily convertible into cash and are managed according to a liquidity-oriented policy. The calculation of net indebtedness is presented in note 41.3 to the 2019 consolidated financial statements. Net indebtedness at 31 December 2019 includes IFRS 16 from 1 January 2019 for €4,492 million. (2)

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EDF | Universal registration document 2019