EDF / 2019 Universal registration document

6. Financial statements

Notes to the consolidated financial statements

The other investments held by EDF SA are dedicated assets (see note 48.3). Other investments in associates and joint ventures principally concern Compagnie Énergétique de Sinop (CES) (whose first turbine began operation on 16 September 2019 and the second on 18 October 2019), Jiangxi Datang International Fuzhou Power Generation Company Ltd., Nachtigal (for which construction began in March 2019, with commissioning expected in late 2023) and certain companies owned by EDF Renewables.

The CENG shares have been reclassified under IFRS 5 following the Group’s notification of its intention to exercise the put option related to its investment (see notes 3.2.2 and 46). The investment in Alpiq was sold on 28 May 2019 (see note 3.2.1). In 2019, €(73) million of impairment was booked in respect of investments in associates and joint ventures and a number of specific assets. This impairment is not detailed below due to its low materiality for the Group’s financial statements. In 2018, €(39) million of impairment was booked in respect of investments in associates and joint ventures and a number of specific assets.

26.1

Coentreprise de Transport d’Électricité (CTE)

26.1.1

CTE – financial indicators

The key financial indicators for the CTE subgroup (on a 100% basis) are as follows:

31/12/2019

31/12/2018

(in millions of euros)

Non-current assets

18,568

17,740

Current assets

3,120

2,854

TOTAL ASSETS

21,688

20,593

Equity

2,829

2,807

Non-current liabilities

15,059

13,225

Current liabilities

3,800

4,561

TOTAL EQUITY AND LIABILITIES

21,688

20,593

Sales

4,856 2,181

4,817 2,058

Operating profit before depreciation and amortisation

Net income

615

566

Net indebtedness

12,256

11,799

Gains and losses recorded directly in equity

(279)

78

Dividends paid

313

313

CTE’s affiliate, RTE (Réseau de Transport d’Électricité), is responsible for managing the high voltage and very high voltage public electricity transmission network.

Enedis uses RTE’s network to convey energy to the distribution network.

26.2

Taishan

26.2.1

Taishan – financial indicators

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

31/12/2018

31/12/2017

(in millions of euros)

Non-current assets

11,595

11,030

Current assets

451

350

TOTAL ASSETS

12,046

11,380

Equity

3,279 7,777

3,316 6,864 1,200

Non-current liabilities

Current liabilities

990

TOTAL EQUITY AND LIABILITIES

12,046

11,380

Sales

32 (8)

-

Net income

(56)

Dividends paid

-

-

336

EDF | Universal registration document 2019

www.edf.fr