EDF_REGISTRATION_DOCUMENT_2017

FINANCIAL STATEMENTS Consolidated financial statements at 31 December 2017

CONSOLIDATED CASH FLOW STATEMENT

Notes

2017

2016

(in millions of euros)

Operating activities: Income before taxes of consolidated companies

3,401

4,181

Impairment/(reversals)

518

639

Accumulated depreciation and amortisation, provisions and changes in fair value

9,980

9,814

Financial income and expenses

764 243

948 330

Dividends received from associates and joint ventures

Capital gains/losses

(2,739)

(877)

Change in working capital

43.1

1,476

(1,935) 13,100 (1,137)

Net cash flow from operations Net financial expenses disbursed

13,643 (1,209)

Income taxes paid

(771)

(838)

Net cash flow from operating activities

11,663

11,125

Investing activities: Acquisitions of equity investments, net of cash acquired (1) Disposals of equity investments, net of cash transferred (2) Investments in intangible assets and property, plant and equipment Net proceeds from sale of intangible assets and property, plant and equipment

(2,463)

(127)

2,472

372

6.

43.2 (14,747)

(14,397)

1,140 1,885

508

Changes in financial assets

(2,913)

Net cash flow used in investing activities

(11,713)

(16,557)

Financing activities: EDF capital increase

4,005

-

Transactions with non-controlling interests (3)

481

1,368 (165) (289)

Dividends paid by parent company

27.3

(109) (183)

Dividends paid to non-controlling interests

Purchases/sales of treasury shares Cash flows with shareholders

(6)

(2)

4,188 2,901

912

Issuance of borrowings Repayment of borrowings

9,424

(6,304)

(6,176)

Payments to bearers of perpetual subordinated bonds

27.4

(565)

(582)

Funding contributions received for assets operated under concessions

144 348

143 417

Investment subsidies

Other cash flows from financing activities Net cash flow from financing activities

(3,476)

3,226 4,138

712 662

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

(1,294)

2,893

4,182

662 (13)

(1,294)

Effect of currency fluctuations

102

Financial income on cash and cash equivalents

21

20

Effect of reclassifications

129

(117) 2,893

37

3,692

CASH AND CASH EQUIVALENTS – CLOSING BALANCE

Including the acquisition price for Framatome: €1,868 million (see note 3.2). (1) In 2017, this item includes an amount of €1,282 million relating to the partial sale of Coentreprise de Transport d’Électricité or CTE (formerly C25), the company (2) that holds RTE’s shares (see note 3.4.1). Capital increases or reductions and acquisitions or disposals of interests in controlled companies. (3) In 2017, this item includes the €501 million contribution received from CGN for the NNB Holding Ltd. and Sizewell C Holding Co capital increases.

299

EDF I Reference Document 2017