EDF / 2020 Universal Registration Document

6 FINANCIAL STATEMENTS

Notes to the consolidated financial statements

Financial indicators Note 19

The financial indicators are not defined by the accounting standards and are not directly visible in the Group’s financial statements. The principal financial indicators are the following.

19.1

Net income excluding non-recurring items

Net income excluding non-recurring items corresponds to the Group’s share of net income (EDF net income) excluding non-recurring items, net changes in the fair value of energy and commodity derivatives (excluding trading activities), and net changes in the fair value of debt and equity instruments, net of tax.

The following tables show the transition from EDF net income to net income excluding non-recurring items:

At 31 December 2020

2020

EDF net income

Gross value

Income taxes

Non-controlling interests

Notes

(in millions of euros)

Net income

650

Changes in the fair value of debt and equity instruments (1)

8.3

(1,248)

377

(2)

(873)

Net changes in fair value on Energy and Commodity derivatives, excluding trading activities

6

175

(51)

-

124 844 541 189 114 335 537 121 170

Impairment

1,111

(156) (156)

(111) (102)

10.8.1 and 10.8.2

799 195 117 809 487

impairment of fixed assets ●

12.3 3.2.2

- -

(6) (3)

impairment of investments in associates and joint ventures ● impairment of Edison’s E&P operations (application of IFRS 5) ●

Other items

414

1 1

1,224

other operating income and expenses (2) ●

7

(153)

9.2 9.2

- -

537 121 (80) (11)

- - - -

tax litigations ●

change of income tax rate in the United Kingdom ● accelerated depreciation of thermal power plants in France ●

10.3

250

other ●

72

61

NET INCOME EXCLUDING NON-RECURRING ITEMS 1,969 Including fair value hedges of dedicated assets and changes in the fair value of debt and equity instruments comprised in investments in associates and joint (1) ventures. In 2020 other income and expenses notably include exceptional additional costs relating to repair work on the main secondary circuit welds in the Flamanville 3 (2) EPR, totalling €(397) million.

The net income excluding non-recurring items amounts to €1,969 million at 31 December 2020, down by €1,902 million compared to 2019.

407

EDF - UNIVERSAL REGISTRATION DOCUMENT 2020