Consolidated financial statements
Consolidated balance sheet as at 31 December (before profit appropriation)
In millions of euros | Notes | 2017 | 2016 |
---|---|---|---|
Assets | |||
Fixed assets | |||
- tangible fixed assets | 3 | 8,499.9 | 8,665.3 |
- investments in joint ventures | 5 | 190.1 | 233.2 |
- investments in associates | 6 | 0.7 | 11.5 |
- other equity interests | 7 | 490.7 | 470.2 |
- deferred tax assets | 8 | 402.0 | 430.3 |
Total fixed assets | 9,583.4 | 9,810.5 | |
Current assets | |||
- stocks | 9 | 45.8 | 39.5 |
- trade and other receivables | 10 | 161.2 | 182.8 |
- cash and cash equivalents | 11 | 41.2 | 238.4 |
Total current assets |
248.2 | 460.7 | |
Total assets | 9,831.6 | 10,271.2 |
In millions of euros | 2017 | 2016 | |
---|---|---|---|
Equity and liabilities |
|||
Total shareholder’s equity |
12 | 5,782.3 | 5,601.9 |
Long-term liabilities | |||
- interest-bearing loans | 14 | 2,842.9 | 3,164.3 |
- deferred tax liabilities | 15 | 166.9 | 202.5 |
- employee benefits | 16 | 102.8 | 100.4 |
- provisions | 17 | 57.9 | 67.6 |
Total long-term liabilities | 3,170.5 | 3,534.8 | |
Current liabilities | |||
- current financing liabilities | 18 | 602.8 | 794.9 |
- trade and other payables | 19 | 276.0 | 339.6 |
Total current liabilities | 878.8 | 1,134.5 | |
Total equity and liabilities | 9,831.6 | 10,271.2 |
Consolidated profit and loss account
In millions of euros | Notes | 2017 | 2016 | ||
---|---|---|---|---|---|
Revenues | 29 | 1,241.4 | 1,547.8 | ||
Capitalised costs | 91.5 | 98.7 | |||
Staff costs | 22 | (206.1) | (199.9) | ||
Other operating expenses | 23 | (374.2) | (408.8) | ||
Depreciation costs | 3 | (304.1) | (304.6) | ||
Impairments | 1 | (117.0) | (450.0) | ||
Total expenses | (909.9) | (1,264.6) | |||
Operating result | 30 | 331.5 | 283.2 | ||
Finance income | 24 | 7.9 | 2.2 | ||
Finance expenses | 25 | (85.5) | (127.2) | ||
Result of disposals of and investments in associates | 6 | 18.6 | 0.0 | ||
Share in result of joint ventures | 5 | 3.3 | 31.2 | ||
Share in result of associates | 6 | 1.3 | 2.8 | ||
Dividend received on investments in other equity interests | 7 | 23.9 | 27.2 | ||
Result before taxation | 301.0 | 219.4 | |||
Taxes | 26 | (41.5) | (35.9) | ||
Result after taxation | 259.5 | 183.5 |
Consolidated statement of comprehensive income
In millions of euros | Notes | 2017 | 2016 | ||
---|---|---|---|---|---|
Total of results taken to the profit and loss account | 259.5 | 183.5 | |||
Balance of actuarial gains and losses on employee benefits, | 16 | 1.3 | ‑3.8 | ||
of which corporate income tax | ‑0.3 | 1.2 | |||
Total of results taken to equity which will not be reclassified subsequently to the profit and loss account | 1.0 | ‑2.6 | |||
Movement in other equity interests stated at fair value | 7 | 20.5 | 35.3 | ||
Movements in the cash flow hedge reserves concerning joint ventures and associates valued at the equity method | 13.6 | 1.2 | |||
of which corporate income tax | ‑3.4 | ‑0.3 | |||
Movement in cash flow hedge reserve, | 13 | ‑0.9 | ‑1.3 | ||
of which corporate income tax | 0.2 | 0.3 | |||
Total of results taken to equity which will be reclassified subsequently to the profit and loss account | 30.0 | 35.2 | |||
Total comprehensive income for the year, net of tax | 290.5 | 216.1 | |||
Attributable to shareholder | 290.5 | 216.1 |
Consolidated statement of movements in equity
In millions of euros | Share capital | Cash flow hedge reserve | Fair value reserve | Other reserves | Unappropriated result | Total | |
---|---|---|---|---|---|---|---|
2017 | |||||||
Balance as at 1 January 2017 | 0.2 | ‑46.3 | 297.4 | 5,167.1 | 183.5 | 5,601.9 | |
Total of comprehensive income for the financial year | - | 9.5 | 20.5 | 1.0 | 259.5 | 290.5 | |
Dividend paid for 2016 | - | - | - | - | ‑110.1 | ‑110.1 | |
Added to other reserves | - | - | - | 73.4 | ‑73.4 | 0.0 | |
Balance as at 31 December 2017 | 0.2 | ‑36.8 | 317.9 | 5,241.5 | 259.5 | 5,782.3 | |
2016 | |||||||
Balance as at 1 January 2016 | 0.2 | ‑46.2 | 262.1 | 4,948.5 | 552.9 | 5,717.5 | |
Total of comprehensive income for the financial year | - | ‑0.1 | 35.3 | ‑2.6 | 183.5 | 216.1 | |
Dividend paid for 2014 | - | - | - | - | ‑331.7 | ‑331.7 | |
Added to other reserves | - | - | - | 221.2 | ‑221.2 | 0.0 | |
Balance as at 31 December 2016 | 0.2 | ‑46.3 | 297.4 | 5,167.1 | 183.5 | 5,601.9 |
Consolidated cash flow statement
In millions of euros | Notes | 2017 | 2016 | |||
---|---|---|---|---|---|---|
Cash flow from operating activities | ||||||
Revenues | 1,241.4 | 1,547.8 | ||||
Total expenses | (909.9) | (1,264.6) | ||||
Operating result | 331.5 | 283.2 | ||||
Adjustments for: | ||||||
- depreciation costs | 3 | 304.1 | 304.6 | |||
- impairments | 1 | 117.0 | 450.0 | |||
- movement in stocks | 9 | (6.3) | (5.6) | |||
- movement in receivables | 10 | 31.7 | 14.5 | |||
- movement in non-interest-bearing liabilities | (10.7) | 48.2 | ||||
- results desinvestments | 5.4 | 14.5 | ||||
Cash flow from business operations | 772.7 | 1,109.4 | ||||
Interest received | 7.9 | 2.2 | ||||
Dividend received on investments in joint ventures | 5 | 41.6 | 12.6 | |||
Dividend received on investments in associates | 6 | 1.2 | 3.7 | |||
Dividend received on investments in other equity interests | 7 | 23.9 | 27.2 | |||
Interest paid | 25 | (115.4) | (140.9) | |||
Corporate income tax paid | 26 | (70.1) | (130.4) | |||
(110.9) | (225.6) | |||||
Cash flow from operating activities | 661.8 | 883.8 |
Cash flow from investing activities | ||||||
---|---|---|---|---|---|---|
Investments in tangible and intangible fixed assets | 3 | (269.5) | (294.0) | |||
Disposals of tangible and intangible fixed assets | 3 | (0.9) | ‑?? | |||
Investments in joint ventures | 5 | (2.9) | (56.3) | |||
Redeemed capital in joint ventures | 5 | 18.0 | ||||
Result of disposals of associates | 20.0 | |||||
Cash flow from investing activities | (235.3) | (350.3) | ||||
Cash flow from financing activities | ||||||
New long-term loans | 14 | ‑?? | 950.0 | |||
Repayment of long-term loans | 14 | (771.4) | (721.4) | |||
Movement in short-term financing | 18 | 257.8 | (256.7) | |||
Dividend paid | 28 | (110.1) | (331.7) | |||
Cash flow from financing activities | (623.7) | (359.8) | ||||
Movement in cash and cash equivalents | (197.2) | 173.7 | ||||
Cash and cash equivalents at previous year-end | 238.4 | 64.7 | ||||
Cash and cash equivalents at year-end | 41.2 | 238.4 | ||||
(197.2) | 173.7 |