EDF has changed the presentation of the marketable securities table for greater clarity. This change, which is applied retrospectively to the comparative figures for 2019, involves grouping bonds in foreign currencies (€1,919 million at 31 December 2020 and €2,687 million at 31 December 2019) and bonds in euros into a single line,“Bonds”, for both years presented. In 2019, bonds in foreign currencies were presented in the line “Accrued interest and other marketable securities”.
(in millions of euros) | 31/12/2020 | 31/12/2019 | Variation |
|---|---|---|---|
Treasury shares | Treasury shares 31/12/2020 - | Treasury shares 31/12/2019 2 | Treasury shares Variation (2) |
Investment funds(1) | Investment funds(1) 31/12/2020 2,443 | Investment funds(1) 31/12/2019 410 | Investment funds(1) Variation 2,033 |
Short-term negotiable debt instruments in euros and foreign currencies(2) | Short-term negotiable debt instruments in euros and foreign currencies(2) 31/12/2020 1,738 | Short-term negotiable debt instruments in euros and foreign currencies(2) 31/12/2019 3,318 | Short-term negotiable debt instruments in euros and foreign currencies(2) Variation (1,580) |
Bonds(2) | Bonds(2) 31/12/2020 8,830 | Bonds(2) 31/12/2019 10,893 | Bonds(2) Variation (2,063) |
Accrued interest and other marketable securities | Accrued interest and other marketable securities 31/12/2020 54 | Accrued interest and other marketable securities 31/12/2019 70 | Accrued interest and other marketable securities Variation (16) |
Total gross value | Total gross value 31/12/2020 13,065 | Total gross value 31/12/2019 14,693 | Total gross value Variation (1,628) |
Provisions | Provisions 31/12/2020 (4) | Provisions 31/12/2019 (3) | Provisions Variation (1) |
TOTAL NET VALUE | TOTAL NET VALUE 31/12/2020 13,061 | TOTAL NET VALUE 31/12/2019 14,690 | TOTAL NET VALUE Variation (1,629) |
(1) The increase in Investment funds is principally explained by the short-term investment of some of the funds generated by the green bond issue (OCEANEs Vertes) until they are used in renewable energy investments (see note 2.4.1).
(2) The decrease in negotiable debt instruments and bonds is explained by the aim of reducing the credit risk and increasing liquid assets (sight deposits, investment funds) to cope with the consequences of the Covid-19 pandemic.
(in millions of euros) | 31/12/2020 | 31/12/2019 | Variation |
|---|---|---|---|
Marketable securities | Marketable securities 31/12/2020 13,065 | Marketable securities 31/12/2019 14,693 | Marketable securities Variation (1,628) |
Cash and cash equivalents | Cash and cash equivalents 31/12/2020 5,364 | Cash and cash equivalents 31/12/2019 4,714 | Cash and cash equivalents Variation 650 |
Sub-total in balance sheet assets | Sub-total in balance sheet assets 31/12/2020 18,429 | Sub-total in balance sheet assets 31/12/2019 19,407 | Sub-total in balance sheet assets Variation (978) |
Euro investment funds | Euro investment funds 31/12/2020 (2,443) | Euro investment funds 31/12/2019 (410) | Euro investment funds Variation (2,033) |
Negotiable debt instruments (euro) maturing after 3 months | Negotiable debt instruments (euro) maturing after 3 months 31/12/2020 (937) | Negotiable debt instruments (euro) maturing after 3 months 31/12/2019 (1,068) | Negotiable debt instruments (euro) maturing after 3 months Variation 131 |
Negotiable debt instruments (non euro) maturing after 3 months | Negotiable debt instruments (non euro) maturing after 3 months 31/12/2020 (801) | Negotiable debt instruments (non euro) maturing after 3 months 31/12/2019 (2,250) | Negotiable debt instruments (non euro) maturing after 3 months Variation 1,449 |
Bonds | Bonds 31/12/2020 (8,830) | Bonds 31/12/2019 (10,893) | Bonds Variation 2,063 |
Treasury shares | Treasury shares 31/12/2020 - | Treasury shares 31/12/2019 (2) | Treasury shares Variation 2 |
Accrued interest | Accrued interest 31/12/2020 (54) | Accrued interest 31/12/2019 (70) | Accrued interest Variation 16 |
Marketable securities included in financial assets in the cash flow statement | Marketable securities included in financial assets in the cash flow statement 31/12/2020 (13,065) | Marketable securities included in financial assets in the cash flow statement 31/12/2019 (14,693) | Marketable securities included in financial assets in the cash flow statement Variation 1,628 |
Cash advances to subsidiaries (cash pooling agreements) included in “Other operating receivables” in the balance sheet | Cash advances to subsidiaries (cash pooling agreements) included in “Other operating receivables” in the balance sheet 31/12/2020 - | Cash advances to subsidiaries (cash pooling agreements) included in “Other operating receivables” in the balance sheet 31/12/2019 - | Cash advances to subsidiaries (cash pooling agreements) included in “Other operating receivables” in the balance sheet Variation - |
Cash advances from subsidiaries (cash pooling agreements) included in “Other operating liabilities” in the balance sheet | Cash advances from subsidiaries (cash pooling agreements) included in “Other operating liabilities” in the balance sheet 31/12/2020 (5,620) | Cash advances from subsidiaries (cash pooling agreements) included in “Other operating liabilities” in the balance sheet 31/12/2019 (4,794) | Cash advances from subsidiaries (cash pooling agreements) included in “Other operating liabilities” in the balance sheet Variation (826) |
Cash and cash equivalents, closing balance in the cash flow statement* | Cash and cash equivalents, closing balance in the cash flow statement* 31/12/2020 (256) | Cash and cash equivalents, closing balance in the cash flow statement* 31/12/2019 (80) | Cash and cash equivalents, closing balance in the cash flow statement* Variation (176) |
Elimination of the effect of currency fluctuations | Elimination of the effect of currency fluctuations 31/12/2020
| Elimination of the effect of currency fluctuations 31/12/2019
| Elimination of the effect of currency fluctuations Variation 102 |
Elimination of net financial income on cash and cash equivalents | Elimination of net financial income on cash and cash equivalents 31/12/2020
| Elimination of net financial income on cash and cash equivalents 31/12/2019
| Elimination of net financial income on cash and cash equivalents Variation (37) |
NET VARIATION IN CASH AND CASH EQUIVALENTS IN THE CASH FLOW STATEMENT* | NET VARIATION IN CASH AND CASH EQUIVALENTS IN THE CASH FLOW STATEMENT* 31/12/2020
| NET VARIATION IN CASH AND CASH EQUIVALENTS IN THE CASH FLOW STATEMENT* 31/12/2019
| NET VARIATION IN CASH AND CASH EQUIVALENTS IN THE CASH FLOW STATEMENT* Variation (111) |
* See the Cash flow statement.
As of 2018, the cash positions of all subsidiaries in the cash flow statement are classified by reference to criteria of autonomy.
An entity is considered non-autonomous when it is a holding company, generates the majority of its sales with EDF group entities, or does not have the status of employer.
The main subsidiaries classified as non-autonomous are C2, C3, EDF Holding and EDFInternational, and the main subsidiaries classified as autonomous are Enedis, PEI, Sofilo and GGF.
In the cash flow statement, the cash positions of autonomous subsidiaries are presented as a deduction from “Cash and cash equivalents”. The cash positions of non-autonomous subsidiaries are included in the components of the changes in working capital.
