| (in € millions) | 2022 | 2021(*) |
|---|---|---|
| Net cash flows (used in)/from operating activities | Net cash flows (used in)/from operating activities 2022 9,387 |
Net cash flows (used in)/from operating activities 2021 (*)7,806 |
| Of which other long-term advances | Of which other long-term advances 2022 854 |
Of which other long-term advances 2021 (*)– |
| Net cash flows (used in)/from operating activities, excluding other long-term advances | Net cash flows (used in)/from operating activities, excluding other long-term advances 2022 8,533 |
Net cash flows (used in)/from operating activities, excluding other long-term advances 2021 (*)7,806 |
| Operating investments (net of disposals and other long-term advances) | Operating investments (net of disposals and other long-term advances) 2022 (1,602) |
Operating investments (net of disposals and other long-term advances) 2021 (*)(1,077) |
| Repayments of lease liabilities and financial expense on leases | Repayments of lease liabilities and financial expense on leases 2022 (661) |
Repayments of lease liabilities and financial expense on leases 2021 (*)(631) |
| Operating cash flow | Operating cash flow 2022 6,270 |
Operating cash flow 2021 (*)6,098 |
| Growth investments (concessions and PPPs) | Growth investments (concessions and PPPs) 2022 (836) |
Growth investments (concessions and PPPs) 2021 (*)(815) |
| Free cash flow | Free cash flow 2022 5,433 |
Free cash flow 2021 (*)5,282 |
| (in € millions)
|
2022
|
2021 (*)
|
| Purchases of shares in subsidiaries and affiliates (consolidated and unconsolidated) | Purchases of shares in subsidiaries and affiliates (consolidated and unconsolidated) 2022 (2,131) (**) |
Purchases of shares in subsidiaries and affiliates (consolidated and unconsolidated) 2021 (*)(5,258) (***) |
| Proceeds from sales of shares in subsidiaries and affiliates (consolidated and unconsolidated) | Proceeds from sales of shares in subsidiaries and affiliates (consolidated and unconsolidated) 2022 23 |
Proceeds from sales of shares in subsidiaries and affiliates (consolidated and unconsolidated) 2021 (*)9 |
| Net impact of changes in scope including net debt assumed | Net impact of changes in scope including net debt assumed 2022 (511) (**) |
Net impact of changes in scope including net debt assumed 2021 (*)415 (*) |
| Net financial investments | Net financial investments 2022 (2,618) |
Net financial investments 2021 (*)(4,834) |
| Other | Other 2022 (59) |
Other 2021 (*)(82) |
| Total net financial investments | Total net financial investments 2022 (2,677) |
Total net financial investments 2021 (*)(4,916) |
(*) Amounts adjusted following the final purchase price allocation for Cobra IS, acquired on 31 December 2021. See Note B.2, “Changes in consolidation scope in previous periods”.
(**) Including the purchase price for Mexican airport operator OMA (€1,169 million) and its net financial debt on the date control was acquired (€298 million). See Note B.1, “Changes in consolidation scope during the period”.
(***) Including the purchase price for Cobra IS (€4,902 million). See Note B.2, “Changes in consolidation scope in previous periods”.
| (in € millions) | Note | 31/12/2022 | 31/12/2021(*) |
|---|---|---|---|
| Capital employed - assets | Capital employed - assetsNote
|
Capital employed - assets31/12/202293,074 | Capital employed - assets 31/12/2021 (*)84,327 |
| Concession intangible assets | Concession intangible assets Note13 |
Concession intangible assets 31/12/202228,224 |
Concession intangible assets 31/12/2021 (*)25,329 |
| – 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 31/12/2022(3,792) |
– Deferred tax on business combination fair value adjustments 31/12/2021 (*)(3,207) |
| Goodwill, gross | Goodwill, gross Note9 |
Goodwill, gross 31/12/202217,657 |
Goodwill, gross 31/12/2021 (*)16,388 |
| Other intangible assets | Other intangible assets Note17.1 |
Other intangible assets 31/12/20229,045 |
Other intangible assets 31/12/2021 (*)8,421 |
| Property, plant and equipment | Property, plant and equipment Note17.2 |
Property, plant and equipment 31/12/202210,805 |
Property, plant and equipment 31/12/2021 (*)10,303 |
| Investments in companies accounted for under the equity method | Investments in companies accounted for under the equity method Note10 |
Investments in companies accounted for under the equity method 31/12/20221,014 |
Investments in companies accounted for under the equity method 31/12/2021 (*)950 |
| Other non-current financial assets | Other non-current financial assets Note11-14-18 |
Other non-current financial assets 31/12/20222,588 |
Other non-current financial assets 31/12/2021 (*)2,450 |
| – Collateralised loans and receivables (at more than one year) | – Collateralised loans and receivables (at more than one year) Note25-27 |
– Collateralised loans and receivables (at more than one year) 31/12/2022(5) |
– Collateralised loans and receivables (at more than one year) 31/12/2021 (*)(4) |
| Inventories and work in progress | Inventories and work in progress Note19 |
Inventories and work in progress 31/12/20221,785 |
Inventories and work in progress 31/12/2021 (*)1,591 |
| Trade and other receivables | Trade and other receivables Note19 |
Trade and other receivables 31/12/202218,092 |
Trade and other receivables 31/12/2021 (*)15,832 |
| Other current assets | Other current assets Note19 |
Other current assets 31/12/20227,402 |
Other current assets 31/12/2021 (*)6,036 |
| Current tax assets | Current tax assets Note
|
Current tax assets 31/12/2022259 |
Current tax assets 31/12/2021 (*)238 |
| Capital employed - liabilities | Capital employed - liabilitiesNote
|
Capital employed - liabilities31/12/2022(40,609) | Capital employed - liabilities 31/12/2021 (*)(35,246) |
| Current provisions | Current provisions Note19 |
Current provisions 31/12/2022(6,599) |
Current provisions 31/12/2021 (*)(6,123) |
| Trade payables | Trade payables Note19 |
Trade payables 31/12/2022(13,088) |
Trade payables 31/12/2021 (*)(12,027) |
| Other current liabilities | Other current liabilities Note19 |
Other current liabilities 31/12/2022(20,315) |
Other current liabilities 31/12/2021 (*)(16,736) |
| Current tax liabilities | Current tax liabilities Note
|
Current tax liabilities 31/12/2022(607) |
Current tax liabilities 31/12/2021 (*)(360) |
| Total capital employed | Total capital employedNote
|
Total capital employed31/12/202252,465 | Total capital employed 31/12/2021 (*)49,081 |
(*) Amounts adjusted following the final purchase price allocation for Cobra IS, acquired on 31 December 2021. See Note B.2, “Changes in consolidation scope in previous periods”.
Capital employed by geographical area
| (in € millions) | 31/12/2022 | 31/12/2021(*) |
|---|---|---|
| France | France31/12/202224,196 | France 31/12/2021 (*)24,461 |
| United Kingdom | United Kingdom 31/12/20228,916 |
United Kingdom 31/12/2021 (*)9,696 |
| Spain | Spain 31/12/20224,813 |
Spain 31/12/2021 (*)4,502 |
| Portugal | Portugal 31/12/20222,355 |
Portugal 31/12/2021 (*)2,513 |
| Other European countries | Other European countries 31/12/20223,439 |
Other European countries 31/12/2021 (*)2,590 |
| Total Europe excluding France | Total Europe excluding France31/12/202219,523 | Total Europe excluding France 31/12/2021 (*)19,301 |
| Total Europe | Total Europe31/12/202243,719 | Total Europe 31/12/2021 (*)43,762 |
| North America | North America 31/12/20222,511 |
North America 31/12/2021 (*)2,093 |
| of which United States | of which United States31/12/20221,952 | of which United States 31/12/2021 (*)1,605 |
| Central and South America | Central and South America31/12/20226,005 |
Central and South America31/12/2021 (*)2,854 |
| Africa | Africa 31/12/2022(255) |
Africa 31/12/2021 (*)(262) |
| Asia-Pacific and Middle East | Asia-Pacific and Middle East 31/12/2022485 |
Asia-Pacific and Middle East 31/12/2021 (*)634 |
| Total capital employed | Total capital employed 31/12/202252,465 |
Total capital employed 31/12/2021 (*)49,081 |
(*) Amounts adjusted following the final purchase price allocation for Cobra IS, acquired on 31 December 2021. See Note B.2, “Changes in consolidation scope in previous periods”.
