| (in millions of euros) | Notes | 2020 | 2019 | |
|---|---|---|---|---|
| Operating activities | Operating activities
| Operating activities Notes
| Operating activities2020
| Operating activities 2019
|
| Profit/(loss) before income tax | Profit/(loss) before income tax
| Profit/(loss) before income tax Notes
| Profit/(loss) before income tax 2020(184) | Profit/(loss) before income tax 2019 2,198 |
| Amortisation, depreciation and provisions | Amortisation, depreciation and provisions
| Amortisation, depreciation and provisions Notes
| Amortisation, depreciation and provisions 20208,071 | Amortisation, depreciation and provisions 2019 5,393 |
| Capital (gains)/losses | Capital (gains)/losses
| Capital (gains)/losses Notes
| Capital (gains)/losses 2020(524) | Capital (gains)/losses 2019 (181) |
| Financial income and expenses | Financial income and expenses
| Financial income and expenses Notes
| Financial income and expenses 2020(780) | Financial income and expenses 2019 (557) |
| Changes in working capital | Changes in working capital
| Changes in working capital Notes
| Changes in working capital 2020719 | Changes in working capital 2019 1,012 |
| Net cash flow from operations | Net cash flow from operations
| Net cash flow from operations Notes
| Net cash flow from operations 20207,302 | Net cash flow from operations 2019 7,865 |
| Net financial expenses, including dividends received(1) | Net financial expenses, including dividends received (1)
| Net financial expenses, including dividends received (1)Notes
| Net financial expenses, including dividends received (1)2020841 | Net financial expenses, including dividends received (1)2019 (787) |
| Income taxes paid | Income taxes paid
| Income taxes paid Notes
| Income taxes paid 2020(776) | Income taxes paid 2019 (452) |
| Net cash flow from operating activities | Net cash flow from operating activities
(A) | Net cash flow from operating activities Notes
| Net cash flow from operating activities 20207,367 | Net cash flow from operating activities 2019 6,626 |
| Investing activities | Investing activities
| Investing activities Notes
| Investing activities2020
| Investing activities 2019
|
| Investments in property, plant and equipment and intangible assets | Investments in property, plant and equipment and intangible assets
| Investments in property, plant and equipment and intangible assets Notes
| Investments in property, plant and equipment and intangible assets 2020(5,848) | Investments in property, plant and equipment and intangible assets 2019 (6,365) |
| Proceeds from sale of property, plant and equipment and intangible assets | Proceeds from sale of property, plant and equipment and intangible assets
| Proceeds from sale of property, plant and equipment and intangible assets Notes
| Proceeds from sale of property, plant and equipment and intangible assets 202015 | Proceeds from sale of property, plant and equipment and intangible assets 2019 23 |
| Changes in financial assets(2) | Changes in financial assets (2)
| Changes in financial assets (2)Notes
| Changes in financial assets (2)2020(4,424) | Changes in financial assets (2)2019 251 |
| Net cash flow used in investing activities | Net cash flow used in investing activities (B) | Net cash flow used in investing activities Notes
| Net cash flow used in investing activities 2020(10,257) | Net cash flow used in investing activities 2019 (6,091) |
| Financing activities | Financing activities
| Financing activities Notes
| Financing activities2020
| Financing activities 2019
|
| Issuance of green bonds convertible into new shares and/or exchangeable for existing shares (Océanes vertes)(3) | Issuance of green bonds convertible into new shares and/or exchangeable for existing shares (Océanes vertes) (3)
| Issuance of green bonds convertible into new shares and/or exchangeable for existing shares (Océanes vertes) (3)Notes 2.4.1 | Issuance of green bonds convertible into new shares and/or exchangeable for existing shares (Océanes vertes) (3)20202,569 | Issuance of green bonds convertible into new shares and/or exchangeable for existing shares (Océanes vertes) (3)2019 - |
| Issuance of borrowings and underwriting agreements(4) | Issuance of borrowings and underwriting agreements (4)
| Issuance of borrowings and underwriting agreements (4)Notes
| Issuance of borrowings and underwriting agreements (4)20209,928 | Issuance of borrowings and underwriting agreements (4)2019 5,109 |
| Repayment of borrowings and underwriting agreements(4) | Repayment of borrowings and underwriting agreements (4)
| Repayment of borrowings and underwriting agreements (4)Notes
| Repayment of borrowings and underwriting agreements (4)2020(11,815) | Repayment of borrowings and underwriting agreements (4)2019 (3,522) |
| Dividends paid | Dividends paid
| Dividends paid Notes 24 | Dividends paid 2020- | Dividends paid 2019 (58) |
| Issuance and redemption of perpetual subordinated bonds, net of expenses | Issuance and redemption of perpetual subordinated bonds, net of expenses
| Issuance and redemption of perpetual subordinated bonds, net of expenses Notes 2.4.2 | Issuance and redemption of perpetual subordinated bonds, net of expenses 20202,081 | Issuance and redemption of perpetual subordinated bonds, net of expenses 2019 (636) |
| Funding contributions received for assets operated under concessions | Funding contributions received for assets operated under concessions
| Funding contributions received for assets operated under concessions Notes
| Funding contributions received for assets operated under concessions 20207 | Funding contributions received for assets operated under concessions 2019 5 |
| Investment subsidies | Investment subsidies
| Investment subsidies Notes
| Investment subsidies 20209 | Investment subsidies 2019 4 |
| Net cash flow from financing activities | Net cash flow from financing activities (C) | Net cash flow from financing activities Notes
| Net cash flow from financing activities 20202,779 | Net cash flow from financing activities 2019 902 |
| Net increase/(decrease) in cash and cash equivalents | Net increase/(decrease) in cash and cash equivalents (A)+(B)+(C) | Net increase/(decrease) in cash and cash equivalents Notes
| Net increase/(decrease) in cash and cash equivalents 2020(111) | Net increase/(decrease) in cash and cash equivalents 2019 1,437 |
| CASH AND CASH EQUIVALENTS – OPENING BALANCE(5) | CASH AND CASH EQUIVALENTS – OPENING BALANCE(5)
| CASH AND CASH EQUIVALENTS – OPENING BALANCE(5) Notes 22 | CASH AND CASH EQUIVALENTS – OPENING BALANCE(5)2020(80) | CASH AND CASH EQUIVALENTS – OPENING BALANCE(5) 2019 (1,564) |
| Effect of currency fluctuations | Effect of currency fluctuations
| Effect of currency fluctuations Notes
| Effect of currency fluctuations 2020(102) | Effect of currency fluctuations 2019 15 |
| Financial income on cash and cash equivalents | Financial income on cash and cash equivalents
| Financial income on cash and cash equivalents Notes
| Financial income on cash and cash equivalents 202038 | Financial income on cash and cash equivalents 2019 31 |
| Other | Other
| Other Notes
| Other 2020(1) | Other 2019 1 |
| CASH AND CASH EQUIVALENTS – CLOSING BALANCE(5) | CASH AND CASH EQUIVALENTS – CLOSING BALANCE(5)
| CASH AND CASH EQUIVALENTS – CLOSING BALANCE(5) Notes 22 | CASH AND CASH EQUIVALENTS – CLOSING BALANCE(5)2020(256) | CASH AND CASH EQUIVALENTS – CLOSING BALANCE(5) 2019 (80) |
(1) The variation in this item is principally explained by the higher level of dividends received in 2020 compared to 2019 (see note 13), and the foreign exchange result.
(2) These changes are principally explained by the increase in loans to subsidiaries (see note 18).
(3) €2,400 million nominal value (see note 2.4.1) and a €169 million issue premium.
(4) In 2020, EDF transferred bonds to several banks under repurchase agreements for the amount of €7,353 million and made corresponding repayments of €(6,532) million. These operations are presented in the lines reporting issuance and repayment of borrowings. Apart from these repurchase operations, the change in 2020 in “Issuance of borrowings and underwriting agreements” and “Repayment of borrowings and underwriting agreements” was a decrease of €(4,295) million, notably explained by bond issues in 2019 totalling €(3,015) million net of premiums which had no equivalent in 2020, and an increase of €(567) million in bond redemptions during 2020.
(5) “Cash and cash equivalents – opening balance” and “Cash and cash equivalents – closing balance” do not include investment funds or negotiable debt instruments maturing in more than three months. Details of the variation in cash and cash equivalents are presented in note 22.
