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Alle Finanzberichte im Überblick

Halbjahresabschluss 2018 - Finanzdaten

Half-year consolidated financial statements

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- Key figures
- Consolidated income statement for the period
- Consolidated comprehensive income statement for the period
- Consolidated balance sheet
- Consolidated cash flow statement

Key figures

(in € millions)First half 2018First half 2017Change first half
2018/2017
Full year 2017
Revenue (*)19,75818,5136.7 %40,248
Revenue generated in France (*)11,48010,9744.6 %23,680
% of revenue (*)58.1 %59.3 % 58.8 %
Revenue generated outside France (*)8,2787,5399.8 %16,568
% of revenue (*)41.9 %40.7 % 41.2 %
Operating income from ordinary activities2,0991,88311.4 %4,607
% of revenue (*)10.6 %10.2 % 11.4 %
Recurring operating income2,1541,85316.2 %4,592
Operating income2,1711,84617.6 %4,550
Net income attributable to owners of the parent1,3001,03026.2 %2,747
% of revenue (*)6.6 %5.6 % 6.8 %
Diluted earnings per share (in €)2.321.8426.1 %4.91
Net income attributable to owners of the parent excluding
non-recurring tax effects (**)
1,3001,03026.2 %2,737
Diluted earnings per share excluding
non-recurring tax effects (in €) (**)
2.321.8426.1 %4.89
Dividend per share (in €)0.75 (***)0.698.7 %2.45
     
Cash flows from operations before tax and financing costs2,9372,8064.7 %6,500
Operating investments (net of disposals)(476)(313)52.2 %(745)
Growth investments in concessions and PPPs(463)(557)-16.8 %(1,010)
Free cash flow (after investments and excluding
non-recurring tax effects) (**)
(136)(128)6.3 %2,725
     
Equity including non-controlling interests18,33316,8591,47318,383
Net financial debt(16,674)(15,541)(1,133)(14,001)

(*) Excluding concession subsidiaries' revenue derived from works carried out by non-Group companies.
(**) In 2017, net non-recurring tax effects on net income attributable to owners of the parent had a positive impact of €10 million. Those effects resulted from the following tax measures adopted in France’s 2018 Finance Act and 2017 Amended Finance Act: the surtax equal to 30% of corporate income tax, the annulment of the 3% dividend tax and the gradual decrease in the corporate income tax rate in France from 33.33% to 25% in 2022, leading to a revaluation of the Group’s deferred tax. At 30 June 2018, deferred tax was valued using the same assumptions.
(***) Interim dividend to be paid on 8 November 2018.

 

From 1 January 2018, the Group has applied IFRS 15 “Revenue from contracts with customers” and IFRS 9 “Financial instruments” according to the “simplified retrospective” approach, recognising the cumulative effects of first-time adoption on opening equity at 1 January 2018. As a result, the 2017 figures presented for comparison purposes have not been adjusted. The impacts of this first-time adoption are presented in Note A.4. of the 2018 half-year financial report.

 

Consolidated income statement for the period

(in € millions)First half 2018First half 2017Full year 2017
Revenue (*)19,75818,51340,248
Concession subsidiaries’ revenue derived from works carried out by non-Group companies286325629
Total revenue20,04318,83840,876
Revenue from ancillary activities108101200
Operating expenses(18,052)(17,055)(36,468)
Operating income from ordinary activities2,0991,8834,607
Share-based payments (IFRS 2)(79)(57)(163)
Profit/(loss) of companies accounted for under the equity method8134146
Other recurring operating items53(7)-
Recurring operating income2,1541,8534,592
Non-recurring operating items18(7)(41)
Operating income2,1711,8464,550
Cost of gross financial debt(249)(279)(537)
Financial income from cash investments134556
Cost of net financial debt(236)(234)(481)
Other financial income and expense191840
Income tax expense(629)(575)(1,271)
of which non-recurring tax effects (**)--44
Net income1,3261,0552,837
Net income attributable to non-controlling interests262590
Net income attributable to owners of the parent (**)1,3001,0302,747
Basic earnings per share  (in €) (**)2.341.864.95
Diluted earnings per share  (in €) (**)2.321.844.91
    
    
Net income attributable to owners of the parent excluding non-recurring tax effects
in deferred tax (**)
1,3001,0302,737
Diluted earnings per share excluding non-recurring tax effects (in €) (**)2.321.844.89

(*) Excluding concession subsidiaries' revenue derived from works carried out by non-Group companies.
(**) In 2017, the net impact of non-recurring tax effects was limited: a €44 million positive effect on the consolidated tax charge and a €10 million positive impact on net income attributable to owners of the parent. That impact resulted from the following tax measures adopted in France’s 2018 Finance Act and 2017 Amended Finance Act: the surtax equal to 30% of corporate income tax, the annulment of the 3% dividend tax and the gradual decrease in the corporate income tax rate in France from 33.33% to 25% in 2022, leading to a revaluation of the Group’s deferred tax. At 30 June 2018, deferred tax was valued using the same assumptions.

 

Consolidated comprehensive income statement for the period

 First half 2018First half 2017Full year 2017
(in € millions)Attributable
to owners of
the parent
Attributable
to non-
controlling interests
TotalAttributable
to owners of
the parent
Attributable
to non-
controlling interests
TotalAttributable
to owners of
the parent
Attributable
to non-
controlling interests
Total
Net income1,300261,3261,030251,0552,747902,837
Changes in fair value of cash flow and net investment hedging instruments (*)(19)-(19)511521371137
Hedging costs3-3------
Tax (**)(4)-(4)(17)-(17)(47)-(47)
Currency translation differences17219(147)(9)(156)(335)(11)(346)
Share in net income of companies accounted for under the equity method32-3249-4957-57
Other comprehensive income that may be recycled subsequently to net income29231(64)(8)(73)(188)(11)(199)
Equity instruments1-1------
Actuarial gains and losses on retirement benefit obligations(23)-(23)33-331371138
Tax6-6(18)-(18)(31)-(31)
Share in net income of companies accounted for under the equity method(1)-(1)(1)-(1)(1)-(1)
Other comprehensive income that may not be recycled subsequently to net income(16)-(16)14-141051106
Total other comprehensive income
recognised directly in equity
13215(51)(8)(59)(83)(10)(93)
Total comprehensive income1,314281,341979179962,664802,744

(*) Changes in the fair value of cash flow hedges are recognised in equity for the effective portion. Cumulative gains and losses in equity are taken to profit or loss at the time when the cash flow affects profit or loss.
(**) Tax effects relating to changes in the fair value of cash flow hedging financial instruments (effective portion) and hedging costs.

 

Consolidated balance sheet

Assets

(in € millions)30/06/201830/06/201731/12/2017
Non-current assets   
Concession intangible assets26,64726,46326,539
Goodwill9,4068,1938,600
Other intangible assets 431413417
Property, plant and equipment 4,6584,3594,421
Investments in companies accounted for under the equity method1,5521,5001,573
Other non-current financial assets1,2631,1461,102
Derivative financial instruments - non-current assets 550660621
Deferred tax assets257237255
Total non-current assets44,76342,97243,527
Current assets   
Inventories and work in progress1,1399461,056
Trade and other receivables12,86811,63812,432
Other current operating assets5,3494,8235,035
Other current non-operating assets464958
Current tax assets259268406
Other current financial assets342938
Derivative financial instruments - current assets 232265261
Cash management financial assets174153184
Cash and cash equivalents5,9974,7846,807
Total current assets26,09822,95426,276
    
Total assets70,86165,92569,803

 

Equity and liabilities

(in € millions)30/06/201830/06/201731/12/2017
Equity   
Share capital1,4911,4831,478
Share premium10,2539,6609,886
Treasury shares(2,161)(1,893)(1,751)
Consolidated reserves 7,8867,0466,509
Currency translation reserves(215)(72)(276)
Net income attributable to owners of the parent1,3001,0302,747
Amounts recognised directly in equity(817)(924)(782)
Equity attributable to owners of the parent17,73716,32917,812
Non-controlling interests 596531572
Total equity 18,33316,85918,383
Non-current liabilities   
Non-current provisions 1,0659821,053
Provisions for employee benefits1,5191,6281,481
Bonds14,52913,42814,130
Other loans and borrowings2,9072,6572,512
Derivative financial instruments - non-current liabilities276253288
Other non-current liabilities269133192
Deferred tax liabilities1,6481,8791,735
Total non-current liabilities22,21420,95921,391
Current liabilities   
Current provisions4,1814,0654,322
Trade payables 7,7077,3458,198
Other current operating liabilities11,85511,01411,852
Other current non-operating liabilities416395487
Current tax liabilities 241221225
Derivative financial instruments - current liabilities77169114
Current borrowings5,8384,8974,830
Total current liabilities30,31428,10630,029
    
Total equity and liabilities70,86165,92569,803

 

Letzte Aktualisierung: 27. 07. 2018