EDF_REGISTRATION_DOCUMENT_2017

6.

FINANCIAL STATEMENTS Financial statements

CASH FLOW STATEMENT

Notes

2017

2016

(in millions of euros)

Operating activities: Profit/(loss) before income tax

1,237 4,010 (859) (827) 2,530 6,091

6,198 3,082

Amortisation, depreciation and provisions

Capital (gains)/losses (1)

(3,873)

Financial income and expenses Changes in working capital

(405) 2,335 7,337 1,749 (621) 8,465

NET CASH FLOW FROM OPERATIONS

Net financial expenses, including dividends received

620

Income taxes paid

(677) 6,034

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

(5,984)

(6,001)

17

16

Changes in financial assets (2)

1,022

(1,676) (7,661)

(4,945)

NET CASH FLOW USED IN INVESTING ACTIVITIES (B) Financing activities: Issuance of borrowings and underwriting agreements Repayment of borrowings and underwriting agreements

1,282

6,130

(5,204)

(8,645)

Dividends paid Capital increase

24 24

(110) 4,005

(165)

- -

Issuance of perpetual subordinated bonds

-

Funding contributions received for assets operated under concessions

8 4

7 8

Investment subsidies

(15)

(2,665) (1,861) (2,427)

NET CASH FLOW FROM FINANCING ACTIVITIES (C)

1,074

NET INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS (A)+(B)+(C)

22

(3,981)

CASH AND CASH EQUIVALENTS - OPENING BALANCE

Effect of currency fluctuations

(23)

250

Financial income on cash and cash equivalents

55

57

CASH AND CASH EQUIVALENTS - CLOSING BALANCE (3) (3,981) Including the gain on the sale of all the shares of RTE to the new company CTE (formerly C25): €388 million in 2017 and €3,780 million in 2016 (see note 2.4). (1) In 2017, “Changes in financial assets” include the acquisition of Framatome for €1,894 million (see note 2.2). In 2016 this item included an amount of (2) €1,538 million received upon assignment of a portion (26.4%) of the CSPE receivable. The receivable assigned comprised a €644 million component that was not allocated to dedicated assets. In 2016 this item also included a cash consideration of €2,667 million received for the RTE shares transferred to CTE (formerly C25). “Cash and cash equivalents – opening balance” and “Cash and cash equivalents – closing balance” do not include investment funds, nor negotiable debt (3) instruments maturing in more than three months. However, they do include cash management agreements with subsidiaries and cash pooling agreements with C2, C3 and EDF Holding SAS. Details of the variation in cash and cash equivalents are presented in note 22. 22 (2,875)

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EDF I Reference Document 2017