| (in € millions) | 2021 | 2020 |
|---|---|---|
| Net cash flows (used in)/from operating activities | Net cash flows (used in)/from operating activities20217,806 | Net cash flows (used in)/from operating activities 2020 6,675 |
| Operating investments (net of disposals) | Operating investments (net of disposals) 2021(1,077) |
Operating investments (net of disposals) 2020 (994) |
| Repayments of lease liabilities and financial expense on leases | Repayments of lease liabilities and financial expense on leases 2021(631) |
Repayments of lease liabilities and financial expense on leases 2020 (607) |
| (in € millions)Operating cash flow | 20216,098 | 2020 5,075 |
| Growth investments in concessions and PPPs | Growth investments in concessions and PPPs 2021(815) |
Growth investments in concessions and PPPs 2020 (1 085) |
| (in € millions)Free cash flow | 20215,282 | 2020 3,990 |
| (in € millions) | 2021 | 2020 |
| Purchases of shares in subsidiaries and affiliates (consolidated and unconsolidated) | Purchases of shares in subsidiaries and affiliates (consolidated and unconsolidated) 2021(5,258) (*) |
Purchases of shares in subsidiaries and affiliates (consolidated and unconsolidated) 2020 (302) |
| Proceeds from sales of shares in subsidiaries and affiliates (consolidated and unconsolidated) | Proceeds from sales of shares in subsidiaries and affiliates (consolidated and unconsolidated) 20219 |
Proceeds from sales of shares in subsidiaries and affiliates (consolidated and unconsolidated) 2020 25 |
| Net impact of changes in scope including net debt assumed | Net impact of changes in scope including net debt assumed 2021688 (*) |
Net impact of changes in scope including net debt assumed 2020 (7) |
| (in € millions)Net financial investments | 2021(4,561) | 2020 (285) |
| Other | Other 2021(82) |
Other 2020 (85) |
| (in € millions)Total net financial investments | 2021(4,643) | 2020 (370) |
(*) Including the purchase price for the acquisition of ACS’s energy business (Cobra IS) for €4,902 million and the latter’s net financial surplus of €676 million at 31 December 2021. See Note B.1,
“Changes in consolidation scope during the period”.
| (in € millions) | Note | 31/12/2021 | 31/12/2020 |
|---|---|---|---|
| Capital employed - assets | Capital employed - assets Note
|
Capital employed - assets31/12/202183,838 | Capital employed - assets31/12/202074,997 |
| Concession intangible assets | Concession intangible assets Note 13 |
Concession intangible assets 31/12/202125,329 |
Concession intangible assets 31/12/202025,886 |
| - Deferred tax on business combination fair value adjustments | - Deferred tax on business combination fair value adjustments Note
|
- Deferred tax on business combination fair value adjustments 31/12/2021(2,961) |
- Deferred tax on business combination fair value adjustments 31/12/2020(2,555) |
| Goodwill, gross | Goodwill, gross Note 9 |
Goodwill, gross 31/12/202116,761 |
Goodwill, gross 31/12/202011,885 |
| Other intangible assets | Other intangible assets Note 17.1 |
Other intangible assets 31/12/20217,586 |
Other intangible assets 31/12/20206,846 |
| Property, plant and equipment | Property, plant and equipment Note 17.2 |
Property, plant and equipment 31/12/202110,303 |
Property, plant and equipment 31/12/20209,760 |
| Investments in companies accounted for under the equity method | Investments in companies accounted for under the equity method Note 10 |
Investments in companies accounted for under the equity method 31/12/2021950 |
Investments in companies accounted for under the equity method 31/12/20201,035 |
| Other non-current financial assets | Other non-current financial assets Note 11-14-18 |
Other non-current financial assets 31/12/20212,450 |
Other non-current financial assets 31/12/20202,237 |
| - Collateralised loans and receivables (at more than one year) | - Collateralised loans and receivables (at more than one year) Note 25-27 |
- Collateralised loans and receivables (at more than one year) 31/12/2021(4) |
- Collateralised loans and receivables (at more than one year) 31/12/2020(4) |
| Inventories and work in progress | Inventories and work in progress Note 19 |
Inventories and work in progress 31/12/20211,591 |
Inventories and work in progress 31/12/20201,428 |
| Trade and other receivables | Trade and other receivables Note 19 |
Trade and other receivables 31/12/202115,559 |
Trade and other receivables 31/12/202012,493 |
| Other current assets | Other current assets Note 19 |
Other current assets 31/12/20216,036 |
Other current assets 31/12/20205,719 |
| Current tax assets | Current tax assets Note
|
Current tax assets 31/12/2021238 |
Current tax assets 31/12/2020266 |
| Capital employed - liabilities | Capital employed - liabilities Note
|
Capital employed - liabilities31/12/2021(35,046) | Capital employed - liabilities31/12/2020(28,739) |
| Current provisions | Current provisions Note 19 |
Current provisions 31/12/2021(5,923) |
Current provisions 31/12/2020(4,973) |
| Trade payables | Trade payables Note 19 |
Trade payables 31/12/2021(12,027) |
Trade payables 31/12/2020(8,876) |
| Other current liabilities | Other current liabilities Note 19 |
Other current liabilities 31/12/2021(16,736) |
Other current liabilities 31/12/2020(14,668) |
| Current tax liabilities | Current tax liabilities Note
|
Current tax liabilities 31/12/2021(360) |
Current tax liabilities 31/12/2020(221) |
| (in € millions)Total capital employed | Note
|
31/12/202148,792 (*) | 31/12/202046,258 |
(*) Of which Cobra IS: €3,990 million, including provisional goodwill estimated at €4,529 million at this stage.
| (in € millions) | 31/12/2021 | 31/12/2020 |
|---|---|---|
| France | France31/12/202124,461 | France 31/12/2020 25,761 |
| United Kingdom | United Kingdom 31/12/20219,696 |
United Kingdom 31/12/2020 9,643 |
| Spain | Spain 31/12/20214,213 |
Spain 31/12/2020 276 |
| Portugal | Portugal 31/12/20212,513 |
Portugal 31/12/2020 2,572 |
| Other European countries | Other European countries 31/12/20212,590 |
Other European countries 31/12/2020 2,717 |
| Total Europe excluding France | Total Europe excluding France31/12/202119,013 | Total Europe excluding France 31/12/2020 15,208 |
| Total Europe | Total Europe31/12/202143,474 | Total Europe 31/12/2020 40,969 |
| North America | North America 31/12/20212,093 |
North America 31/12/2020 1,883 |
| of which United States | of which United States 31/12/20211,605 |
of which United States 31/12/2020 1,428 |
| Central and South America | Central and South America 31/12/20212,854 |
Central and South America 31/12/2020 2,727 |
| Afrique | Afrique 31/12/2021(262) |
Afrique 31/12/2020 (62) |
| Russia, Asia-Pacific and Middle East | Russia, Asia-Pacific and Middle East 31/12/2021634 |
Russia, Asia-Pacific and Middle East 31/12/2020 741 |
| (in € millions)Total capital employed | 31/12/202148,792 | 31/12/2020 46,258 |
At 31 December 2021, capital employed in the eurozone was €32 billion (of which €24.5 billion in France) and made up 67% of the total (€30 billion and 65% of the total in 2020).
