EDF / 2020 Universal Registration Document

6 FINANCIAL STATEMENTS Notes to the financial statements

Personnel expenses Note 10

2020

2019

(in millions of euros)

Salaries and wages Social contributions

3,694 2,745 6,439

3,654 2,799 6,453

PERSONNEL EXPENSES

The estimated impact of the Covid-19 pandemic on personnel expenses in 2020 is €68 million (see note 2.1). Excluding this impact, the decrease in personnel expenses mainly reflects the lower workforce numbers.

In 2020, personnel expenses include €26 million of additional costs relating to repair work on the main secondary circuit welds in the Flamanville 3 EPR (see note 16 (4)).

2020

2019

Executives Non executives

Total

Total

IEG status

27,187

31,050

58,237

59,349

Other

1,972

2,253

4,225

4,181

AVERAGE WORKFORCE

29,159

33,303

62,462

63,530

Average workforce numbers are reported on a full-time equivalent basis.

Operating depreciation, amortisation and provisions Note 11

11.1

Depreciation and amortisation

2020

2019

(in millions of euros)

Amortisation of intangible assets

296

266

Depreciation on property, plant and equipment: owned by EDF (1) ●

3,925

3,401

operated under concessions (2) ●

292

282

Total depreciation and amortisation on fixed assets Other depreciation and amortisation and deferred expenses

4,513

3,949

25

26

TOTAL DEPRECIATION AND AMORTISATION 3,975 In view of France’s Energy and Climate law of 8 November 2019, the ends of the depreciation periods for the Le Havre and Cordemais coal-fired plants were (1) changed at 1 June 2019, setting the closure of Le Havre at 1 April 2021 while Cordemais is to continue operating until 2026, considering a possible conversion to biomass as part of the Ecocombust project. The date for Cordemais could still change depending on the decisions made about the project, which is currently under review by the public authorities. As a result of this change of dates, accelerated depreciation compared to the previous depreciation period is now recognised, amounting to €245 million in 2020 (€139 million in 2019). This depreciation concerns the Island Energy Systems public electricity distribution concessions, and hydropower concessions. (2) 4,538

11.2

Provisions and impairment

2020

Notes

2019

(in millions of euros)

Provisions for risks (1)

27 30 28 28 28

720 798 625 107 133

656 674 535 189 105

Pensions and similar obligations

Spent fuel management

Long-term radioactive waste management

Decommissioning of nuclear power plants and last cores Decommissioning of thermal and hydropower plants

-

2

Other provisions for expenses Provisions for expenses

210

112

1,873

1,617

Impairment (2)

383

342

TOTAL PROVISIONS AND IMPAIRMENT

2,976

2,615

The increase at 31 December 2020 principally concerns energy supply and sale contracts. (1) The change mainly concerns impairment on trade receivables, particularly in line with the Covid-19 pandemic (see note 2.1). (2)

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EDF - UNIVERSAL REGISTRATION DOCUMENT 2020