Areva - Reference Document 2016

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9.2 Situation and activities of the company and its subsidiaries by business segment during the year OPERATING AND FINANCIAL REVIEW

CONDENSED STATEMENT OF CASH FLOWS OF THE GROUP’S COMBINED ENTITIES:

Operations sold, discontinued or held for sale

(in millions of euros)

Reported

NewCo

New NP Wind & Solar

AREVA TA Canberra

Total

EBITDA

(684)

1,349 (166) (668)

121 (20)

(104)

31 (9)

-

1,398 (198) (830)

Change in operating WCR

95 (7)

(8)

4

Net CAPEX

(129)

1

(11)

(24)

Other

-

-

-

-

7

-

7

Operating cash flow

(590)

517 (16)

(20) (17) (32) (14) 358 (21)

(111)

19

(19)

386 (33)

End-of-lifecycle cash flow

-

-

-

-

Net borrowing costs

(99)

(282) (174) (358) (109)

(6)

13

1

(305) (210)

Income tax

71

- - -

(14)

(8)

Acquisition of AREVA US shares*

- -

-

-

-

Other

5

287

162

Net cash flow from operations sold, discontinued or held for sale

1

(423)

255

(117)

24

261

1

Other

(4)

NET CASH FLOW FROM COMPANY OPERATIONS

(621) * Sale of part of the US operations of AREVA NP to NewCo in connection with the legal and financial reorganization.

9.2.3. SUMMARY DATA BY BUSINESS SEGMENT

Previously, AREVA presented its operating segment information by operating Business Group, which corresponded to the level at which performance was examined by the group’s management bodies, in accordance with the requirements of IFRS 8. AREVA also reported data by geographic area. AREVA’s consolidated revenue was allocated among the five geographic areas based on the destination of goods and services: France, Europe excluding France, North and South America, Asia-Pacific, Africa and the Middle East.

For all reporting periods, income items from operations sold, discontinued or held for sale are presented in the statement of income on a separate line, “net income from operations sold, discontinued for held for sale”. Balance sheet items from operations and assets held for sale are presented on a separate line of the statement of financial position under “Assets from operations held for sale” on the assets side and under “Liabilities of operations held for sell” on the liabilities side. Inasmuch as the continuing operations do not constitute operating segments and are located principally in France, AREVA does not report operating segment information for the periods ended December 31, 2015 and December 31, 2016 herein. are calculated as follows: the consolidation scope, exchange rates and accounting methods and standards of the prior year are adjusted to reflect the consolidation scope, exchange rates and accounting methods and standards of the current year. For example: p to compare 2016 and 2015 revenue, the group calculates what the 2015 revenue of the different businesses would have been when average exchange rates for 2016 are applied; p the resulting revenue is then adjusted for the consolidation effect, and the group calculates what the 2015 revenue from the different businesses would have been based on the applicable consolidation scope at year-end 2016. Like-for-like changes (abbreviated “LFL”) signify “at constant exchange rates and consolidation scope”.

9.2.4. COMPARABILITY OF FINANCIAL STATEMENTS

GENERAL PRINCIPLES In addition to the discussion and analysis of results reported in the consolidated financial statements, the group also presents revenue information on a comparable basis over consecutive periods, excluding the impact of changes in:

consolidation scope; exchange rates; and

p

p

p accounting standards and methods.

The group provides this additional information to assess changes in the organic growth of its operations. However, this information does not constitute a method of assessing operations under the international accounting standards (IAS) and international financial reporting standards (IFRS). Excluding exceptions (e.g. material inability to reconstitute figures), changes in comparable revenue figures

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2016 AREVA REFERENCE DOCUMENT