EDF_REGISTRATION_DOCUMENT_2017

FINANCIAL STATEMENTS Income Statement

INVESTMENTS IN ASSOCIATES AND JOINT VENTURES NOTE 23

Investments in associates and joint ventures are as follows:

31/12/2017 Share of net income

31/12/2016 Share of net income

Principal activity (1)

Share of net equity

Share of net equity

Ownership%

(in millions of euros)

Principal investments in associates CTE (2)

O

50.10

1,241

249

n/a

n/a

RTE

T

n/a

n/a

n/a

2,558 2,120 1,191

403

CENG

G G

49.99 30.00 25.04

1,494

(316)

(485)

Taishan (TNPJVC) (3)

n.c. 602

n.c.

(12)

Alpiq (4)

G, D, O, T

25

606

-

Other investments in associates and joint ventures

n.c.

n.c.

2,170 8,645

312 218

7,249

35

TOTAL

n/a = not applicable. n.c. = not communicated. G = generation, D = distribution, T = transmission, O = other. (1)

At 31 December 2017, this corresponds to a 50.1% interest in CTE (the joint venture holding RTE’s shares) (see note 3.4.1). By convention, the share of net (2) income presented comprises 100% of RTE’s net income for the first quarter of 2017 and 50.1% of the CTE subgroup’s net income for the rest of the year 2017. As CGN publishes its consolidated financial statements after the Group, the Group cannot report the financial data for Taishan at 31 December 2017. (3) As Alpiq publishes its consolidated financial statements after the Group, the figures above include an estimate for net income at 31 December 2017 (including the (4) final results published by Alpiq in August 2017).

6.

Other investments in associates and joint ventures principally concern Nam Theun Power Company (NTPC) and certain companies owned by EDF Énergies Nouvelles, EDF SA and Edison. In 2017, €(618) million of impairment of investments in associates and joint ventures was booked, mainly concerning the assets of CENG (see note 23.2.3).

In 2016, €(481) million of impairment of investments in associates and joint ventures was booked, mainly concerning the assets of CENG (see note 23.2.3).

23.1

COENTREPRISE DE TRANSPORT D’ÉLECTRICITÉ (CTE)

CTE – financial indicators 23.1.1 The key financial indicators for CTE (on a 100% basis) are as follows:

31/12/2017 (1)

(in millions of euros) Non-current assets Current assets TOTAL ASSETS

17,163 2,793 19,956 2,476 12,870 4,610 19,956 3,143 1,285

Equity

Non-current liabilities

Current liabilities

TOTAL EQUITY AND LIABILITIES

Sales

Operating profit before depreciation and amortisation

Net income

337

Net indebtedness

11,633

Gains and losses recorded directly in equity

-

Dividends paid 159 The figures for 31 December 2017 correspond to the CTE subgroup data, for the year 2017 (CTE is the company that holds RTE’s shares – see note 3.4.1). (1) The financial indicators published for RTE in 2016 are presented in note 23.1 to the consolidated financial statements at 31 December 2016.

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EDF I Reference Document 2017