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


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


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


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