EDF / 2020 Universal Registration Document

6 FINANCIAL STATEMENTS Financial statements

Cash flow statement

2020

Notes

2019

(in millions of euros)

Operating activities Profit/(loss) before income tax

(184) 8,071 (524) (780)

2,198 5,393 (181) (557) 1,012 7,865 (787) (452) 6,626

Amortisation, depreciation and provisions

Capital (gains)/losses

Financial income and expenses Changes in working capital Net cash flow from operations

719

7,302

Net financial expenses, including dividends received (1)

841

Income taxes paid

(776) 7,367

Net cash flow from operating activities

(A)

Investing activities Investments in property, plant and equipment and intangible assets Proceeds from sale of property, plant and equipment and intangible assets

(5,848)

(6,365)

15

23

Changes in financial assets (2)

(4,424)

251

Net cash flow used in investing activities

(B)

(10,257)

(6,091)

Financing activities Issuance of green bonds convertible into new shares and/or exchangeable for existing shares ( Océanes vertes ) (3)

2.4.1

2,569 9,928

-

Issuance of borrowings and underwriting agreements (4) Repayment of borrowings and underwriting agreements (4)

5,109

(11,815)

(3,522)

24

Dividends paid

-

(58)

2.4.2

Issuance and redemption of perpetual subordinated bonds, net of expenses Funding contributions received for assets operated under concessions

2,081

(636)

7 9

5 4

Investment subsidies

Net cash flow from financing activities

(C)

2,779 (111) (80) (102)

902

Net increase/(decrease) in cash and cash equivalents CASH AND CASH EQUIVALENTS – OPENING BALANCE (5)

(A)+(B)+(C)

1,437

(1,564)

22

Effect of currency fluctuations

15 31

Financial income on cash and cash equivalents

38 (1)

Other

1

CASH AND CASH EQUIVALENTS – CLOSING BALANCE (5) (80) The variation in this item is principally explained by the higher level of dividends received in 2020 compared to 2019 (see note 13), and the foreign exchange result. (1) These changes are principally explained by the increase in loans to subsidiaries (see note 18). (2) €2,400 million nominal value (see note 2.4.1) and a €169 million issue premium. (3) In 2020, EDF transferred bonds to several banks under repurchase agreements for the amount of €7,353 million and made corresponding repayments of (4) €(6,532) million. These operations are presented in the lines reporting issuance and repayment of borrowings. Apart from these repurchase operations, the change in 2020 in “Issuance of borrowings and underwriting agreements” and “Repayment of borrowings and underwriting agreements” was a decrease of €(4,295) million, notably explained by bond issues in 2019 totalling €(3,015) million net of premiums which had no equivalent in 2020, and an increase of €(567) million in bond redemptions during 2020. “Cash and cash equivalents – opening balance” and “Cash and cash equivalents – closing balance” do not include investment funds or negotiable debt instruments (5) maturing in more than three months. Details of the variation in cash and cash equivalents are presented in note 22. 22 (256)

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EDF - UNIVERSAL REGISTRATION DOCUMENT 2020