| (in millions of euros) | 2021 | 2020 (5) | Variation | Variation (%) |
|---|---|---|---|---|
| EBITDA | EBITDA 2021 18,005 |
EBITDA2020 (5)16,174 | EBITDAVariation1,831 | EBITDAVariation (%)11.3 |
| Cancellation of non-monetary items included in EBITDA | Cancellation of non-monetary items included in EBITDA 2021 (869) |
Cancellation of non-monetary items included in EBITDA 2020 (5)328 |
Cancellation of non-monetary items included in EBITDA Variation(1,197) |
Cancellation of non-monetary items included in EBITDA Variation (%)n.a |
| Cash EBITDA | Cash EBITDA 2021 17,136 |
Cash EBITDA 2020 (5)16,502 |
Cash EBITDA Variation634 |
Cash EBITDA Variation (%)3.8 |
| Change in working capital | Change in working capital 2021 (1,526) |
Change in working capital 2020 (5)(1,679) |
Change in working capital Variation153 |
Change in working capital Variation (%)(9.1) |
| Net investments (1) (excluding Group disposals 2020-2022) | Net investments (1)(excluding Group disposals 2020-2022) 2021 (15,725) |
Net investments (1)(excluding Group disposals 2020-2022) 2020 (5)(14,145) |
Net investments (1)(excluding Group disposals 2020-2022) Variation(1,580) |
Net investments (1)(excluding Group disposals 2020-2022) Variation (%)11.2 |
| Other items including dividends received from associates and joint ventures | Other items including dividends received from associates and joint ventures 2021 (98) |
Other items including dividends received from associates and joint ventures 2020 (5)(17) |
Other items including dividends received from associates and joint ventures Variation(81) |
Other items including dividends received from associates and joint ventures Variation (%)n.a |
| Operating cash flow (2) | Operating cash flow (2) 2021 (213) |
Operating cash flow (2)2020 (5)661 | Operating cash flow (2)Variation(874) | Operating cash flow (2)Variation (%)n.a |
| Asset disposals | Asset disposals 2021 2,847 |
Asset disposals 2020 (5)187 |
Asset disposals Variation2,660 |
Asset disposals Variation (%)n.a |
| Income taxes paid | Income taxes paid 2021 (2,276) |
Income taxes paid 2020 (5)(983) |
Income taxes paid Variation(1,293) |
Income taxes paid Variation (%)n.a |
| Net financial expenses disbursed | Net financial expenses disbursed 2021 (588) |
Net financial expenses disbursed 2020 (5)(929) |
Net financial expenses disbursed Variation341 |
Net financial expenses disbursed Variation (%)(36.7) |
| Dedicated assets | Dedicated assets 2021 (501) |
Dedicated assets 2020 (5)(828) |
Dedicated assets Variation327 |
Dedicated assets Variation (%)(39.5) |
| Dividends paid in cash | Dividends paid in cash 2021 (794) |
Dividends paid in cash 2020 (5)(768) |
Dividends paid in cash Variation(26) |
Dividends paid in cash Variation (%)3.4 |
| Group cash flow (3) | Group cash flow (3) 2021 (1,525) |
Group cash flow (3)2020 (5)(2,660) | Group cash flow (3)Variation1,135 | Group cash flow (3)Variation (%)(42.7) |
| Issues of hybrid notes | Issues of hybrid notes 2021 1,235 |
Issues of hybrid notes 2020 (5)2 074 |
Issues of hybrid notes Variation(839) |
Issues of hybrid notes Variation (%)(40 .5) |
| Issues of OCEANE bonds | Issues of OCEANE bonds 2021 - |
Issues of OCEANE bonds 2020 (5)169 |
Issues of OCEANE bonds Variation(169) |
Issues of OCEANE bonds Variation (%)(100) |
| Redemption of hybrid notes | Redemption of hybrid notes 2021 (267) |
Redemption of hybrid notes 2020 (5)- |
Redemption of hybrid notes Variation(267) |
Redemption of hybrid notes Variation (%)n.a |
| Other monetary changes | Other monetary changes 2021 (776) |
Other monetary changes 2020 (5)(49) |
Other monetary changes Variation(727) |
Other monetary changes Variation (%)n.a |
| (Increase)/decrease in net indebtedness, excluding the impact of changes in exchange rate | (Increase)/decrease in net indebtedness, excluding the impact of changes in exchange rate 2021 (1,333) |
(Increase)/decrease in net indebtedness, excluding the impact of changes in exchange rate2020 (5)(466) | (Increase)/decrease in net indebtedness, excluding the impact of changes in exchange rateVariation(867) | (Increase)/decrease in net indebtedness, excluding the impact of changes in exchange rateVariation (%)n.a |
| Effect of change in exchange rates | Effect of change in exchange rates 2021 (515) |
Effect of change in exchange rates 2020 (5)445 |
Effect of change in exchange rates Variation(960) |
Effect of change in exchange rates Variation (%)n.a |
| Effect of other non-monetary changes | Effect of other non-monetary changes 2021 1,150 |
Effect of other non-monetary changes 2020 (5)(1,126) |
Effect of other non-monetary changes Variation2,276 |
Effect of other non-monetary changes Variation (%)n.a |
| (Increase)/decrease in net indebtedness of continuing operations | (Increase)/decrease in net indebtedness of continuing operations 2021 (698) |
(Increase)/decrease in net indebtedness of continuing operations2020 (5)(1,147) | (Increase)/decrease in net indebtedness of continuing operationsVariation449 | (Increase)/decrease in net indebtedness of continuing operationsVariation (%)(62.4) |
| (Increase)/decrease in net indebtedness of discontinued operations (4) | (Increase)/decrease in net indebtedness of discontinued operations (4) 2021 - |
(Increase)/decrease in net indebtedness of discontinued operations (4)2020 (5)(10) | (Increase)/decrease in net indebtedness of discontinued operations (4)Variation10 | (Increase)/decrease in net indebtedness of discontinued operations (4)Variation (%)n.a |
| Net indebtedness at beginning of year | Net indebtedness at beginning of year 2021 42,290 |
Net indebtedness at beginning of year2020 (5)41,133 | Net indebtedness at beginning of yearVariation1,157 | Net indebtedness at beginning of yearVariation (%)2.8 |
| NET INDEBTEDNESS AT END OF YEAR | NET INDEBTEDNESS AT END OF YEAR 2021 42,988 |
NET INDEBTEDNESS AT END OF YEAR2020 (5)42,290 | NET INDEBTEDNESS AT END OF YEARVariation698 | NET INDEBTEDNESS AT END OF YEARVariation (%)1.6 |
(1) Net investments are operating investments and financial investments for growth, net of disposals. They also include net debts acquired or transferred in acquisitions or disposals of securities, investment subsidies received, and non-Group partner They do not include the Group disposals for 2020-2022.
(2) Operating cash flow is not an aggregate defined by IFRS as a measure of financial performance and is not directly comparable with indicators of the same name reported by other companies. This indicator, also known as Funds From Operations (“FFO”), is equivalent to net cash flow from operating activities, changes in working capital after adjustment where relevant for the impact of non-recurring effects, net investments (excluding Group disposals 2020-2022 and including HPC and Linky), and other items, including dividends received from associates and joint ventures.
(3) Group cash flow is not an aggregate defined by IFRS as a measure of financial performance and is not directly comparable with indicators of the same name reported by other companies. It is equal to the operating cash flow defined in note (3) less asset disposals, income taxes paid, net financial expenses disbursed, net allocations to dedicated assets, and dividends paid in cash.
(4) After asset disposals, tax on benefits paid, net financial fees disbursed, net allocations to dedicated assets and dividends paid in cash.
(5) This corresponds to the net indebtedness of Edison’s discontinued E&P operations.
(6) The published figures for 2020 include a €79 million reclassification between net financial expenses disbursed, dedicated assets and other non-monetary changes.
n.a.: not applicable.
