Universal Registration Document 2020

6. Financial statements


Note 19 Financial indicators

The financial indicators are not defined by the accounting standards and are not directly visible in the Group’s financial statements. The principal financial indicators are the following.

19.1 Net income excluding non-recurring items

Net income excluding non-recurring items corresponds to the Group’s share of net income (EDF net income) excluding non-recurring items, net changes in the fair value of energy and commodity derivatives (excluding trading activities), and net changes in the fair value of debt and equity instruments, net of tax.

The following tables show the transition from EDF net income to net income excluding non-recurring items:

At 31 December 2020
  2020
(in millions of euros)NotesvalueIncomeNon-controllingEDF net
Net income

Net income

 

 

Net income

2020

 

  650
Changes in the fair value of debt and equity instruments (1)

Changes in the fair value of debt and equity instruments

(1)

 

8.3

Changes in the fair value of debt and equity instruments

(1)

2020

(1,248)

377(2)(873)
Net changes in fair value on Energy and Commodity derivatives, excluding trading activities

Net changes in fair value on Energy and Commodity derivatives, excluding trading activities

 

6

Net changes in fair value on Energy and Commodity derivatives, excluding trading activities

2020

175

(51)-124
Impairment

Impairment

 

 

Impairment

2020

1,111

(156)(111)844
  • impairment of fixed assets
  • impairment of fixed assets

 

10.8.1 and 10.8.2

  • impairment of fixed assets

2020

799

(156)(102)541
  • impairment of investments in associates and joint ventures
  • impairment of investments in associates and joint ventures

 

12.3

  • impairment of investments in associates and joint ventures

2020

195

-(6)189
  • impairment of Edison’s E&P operations (application of IFRS 5)
  • impairment of Edison’s E&P operations (application of IFRS 5)

 

3.2.2

  • impairment of Edison’s E&P operations (application of IFRS 5)

2020

117

-(3)114
Other items

Other items

 

 

Other items

2020

809

41411,224
  • other operating income and expenses(2)
  • other operating income and expenses(2)

 

7

  • other operating income and expenses(2)

2020

487

(153)1335
  • tax litigations
  • tax litigations

 

9.2

  • tax litigations

2020

-

537-537
  • change of income tax rate in the United Kingdom
  • change of income tax rate in the United Kingdom

 

9.2

  • change of income tax rate in the United Kingdom

2020

-

121-121
  • accelerated depreciation of thermal power plants in France
  • accelerated depreciation of thermal power plants in France

 

10.3

  • accelerated depreciation of thermal power plants in France

2020

250

(80)-170
  • other
  • other

 

 

  • other

2020

72

(11)-61
NET INCOME EXCLUDING NON-RECURRING ITEMSNET INCOME EXCLUDING NON-RECURRING ITEMS

 

 

NET INCOME EXCLUDING NON-RECURRING ITEMS

2020

 

  1,969

(1) Including fair value hedges of dedicated assets and changes in the fair value of debt and equity instruments comprised in investments in associates and joint ventures.
(2) In 2020 other income and expenses notably include exceptional additional costs relating to repair work on the main secondary circuit welds in the Flamanville 3 EPR, totalling €(397) million.

The net income excluding non-recurring items amounts to €1,969 million at 31 December 2020, down by €1,902 million compared to 2019.