EDF / 2019 Universal registration document

6. Financial statements Financial statements

18.3

Subsidiaries and investments under 50%

Gross book value of shares owned

Impairment recorded at 31/12/2019

Dividends received 2019

% capital

Net income 2018

owned Equity 2018

(in millions of euros)

I. Subsidiaries Total I Carried forward

59,285

449

1,417

II Investments II.1 Companies in which EDF has an interest of between 10% and 50% Industrial and commercial companies ■ France Trimet France

130

73 56

35

257

(14) n.m.

-

Dalkia Investissements

63

49.9

86

Total II.1

193

129

-

II.2 Companies in which EDF has an interest of less than 10%: Other companies

-

-

-

-

-

-

Other countries Forces Motrices de Mauvoisin

1 1

- -

10

107

5

n.m.

Total II.2

- -

Total II

194

129 578

Total subsidiaries and investments, gross TOTAL SUBSIDIARIES AND INVESTMENTS, NET

59,479 58,901

1,417

: not material (less than €500,000). n.m.

18.4

Investment securities portfolio

At year-end

At start of year

Gross book value

Net book

Gross book value

Net book

value Fair value

value Fair value

(in millions of euros)

VALUE OF INVESTMENT SECURITIES

20,790

20,136

20,830

22,350

22,246

24,816

At 31 December 2019, the investment securities portfolio comprises €22,246 million of dedicated assets.

by the General Shareholders’ Meeting to reassignment of 3,646,913 EDF shares initially assigned to the liquidity contract, and 50,594 shares assigned to an Employee-reserved Offering of 2007, which is now an obsolete purpose. A total of 3,697,507 shares were thus assigned to the objective of a capital reduction by cancellation of those shares. This operation led to recognition of impairment on treasury shares in the financial result, amounting to €14 million by reference to the share price at 23 December 2019. The 3,646,913 shares are therefore carried in the balance sheet under “Investment securities” at the net value of €36 million at 31 December 2019. The 50,594 shares awaiting cancellation remain in the balance sheet under “Marketable securities” at the net value of €2 million at 31 December 2019. (see note 21)

18.5

Variation in treasury shares

A share repurchase programme was authorised by the General Shareholders’ Meeting of 16 May 2019 for a duration of 18 months. A liquidity contract exists for this programme, as required by the French market regulator AMF in decision AMF 2018-01 of 2 July 2018. The Chairman and CEO, acting by delegation of the Board of Directors, decided on 23 December 2019 to proceed under the share repurchase programme authorised

Gross value at 31/12/2019

Impairment at 31/12/2019

Net value at 31/12/2019

Gross value at 31/12/2018

Increases

Decreases

(in millions of euros)

TREASURY SHARES

53

99

(91)

61

(14)

47

At 31 December 2019, a total 4,832,344 treasury shares are included in “investment securities” at the net value of €47 million, including €36 million for the 3,646,913 shares assigned to the objective of a capital reduction through cancellation of shares.

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EDF | Universal registration document 2019

www.edf.fr