EDF / 2019 Universal registration document

6. Financial statements Financial statements

Related parties Note 39

39.1

Relations with subsidiaries

EDF’s receivables  (1)

EDF’s liabilities  (1)

Net liabilities included in current account

Financial income (excluding dividends)

Trade receivables

Trade liabilities

Financial expenses

Loans

(in millions of euros)

Companies ATMEA CTE (ex C25) Framatome EDF Energy

133

251 114

158 421 112

83

2

EDF Renouvelables EDF International

1,249 7,737

10

142

EDF Trading

1,237

1,212

5 2 5

Edison Enedis

503

111

1,796

Dalkia France

1,343

128

34 16

Groupe PEI

717

66

Luminus Edvance

56

1

55

EDF Pulse Croissance Holding

60 81

Citelum

2

Current account  (2)

1,762

Investment for agreement for liquidities of subsidiaries Group cash management agreement with subsidiaries  (3) Tax consolidation agreement

1,091

(11)

9,450

(3)

1,260

Receivables and payables of more than €50 million. (1) Including €533 million concerning Sofilo and €443 million concerning Enedis. (2) Including €3,614 million concerning C3, €1,629 million concerning EDF Trading and €837 million concerning EDF Développement Environnement. (3)

39.2

Relations with the french state

39.2.2

Relations with public sector entities

and state-owned entities

The EDF group’s relations with public sector entities mainly concern the two entities belonging to the former AREVA group (Orano and AREVA SA). Transactions with Orano concern: the front-end of the nuclear fuel cycle (uranium supplies, conversion and ■ enrichment services); the back-end of the nuclear fuel cycle (transportation, storage, processing and ■ recycling services for spent fuel). Front-end of the cycle Several important agreements were negotiated between EDF and Orano: for supplies of natural uranium: Orano Mining contracts; ■ for fluoration: an Orano cycle contract; ■ for enrichment of natural uranium into uranium 235: an Orano Cycle contract. ■ In connection with the plan to construct two EPRs at the Hinkley Point site, on 29 September 2016 EDF and Orano signed a uranium contract with Orano Mining, and a conversion contract and an enrichment contract with Orano Cycle. Back-end of the cycle Relations between EDF and Orano concerning transportation, processing and recycling of spent fuels are described in note 28.

39.2.1

Relations with the french state

The French State holds 83.58% of the capital of EDF at 31 December 2019, and is thus entitled in the same way as any majority shareholder to control decisions that require approval by the shareholders. In accordance with the legislation applicable to all companies having the French State as their majority shareholder, EDF is subject to certain inspection procedures, in particular economic and financial inspections by the State, audits by the French Court of Auditors ( Cour des Comptes ) or Parliament, and verifications by the French General Finance Inspectorate ( Inspection générale des finances ). The public service contract between the French State and EDF was signed on 24 October 2005. This contract is intended to form the framework for public service missions assigned to EDF by the lawmaker for an unlimited period. The Law of 9 August 2004 does not stipulate the duration of the contract.

452

EDF | Universal registration document 2019

www.edf.fr