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Home > Investors > Results > History of results    >    2012 interim financial statements

History of results

2012 interim financial statements - Financial statements

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

 

Key figures

(in € millions) First half 2012 First half 2011 Change
First half
2012/2011
Full year 2011
Revenue (*) 17,942.3 17,322.5 3.6% 36,955.9
Revenue generated in France (*) 11,495.4 11,125.9 3.3% 23,561.8
% of revenue (*) 64.1% 64.2%   63.8%
Revenue generated outside France (*) 6,446.9 6,196.6 4.0% 13,394.1
% of revenue (*) 35.9% 35.8%   36.2%
Operating income from ordinary activities 1,542.2 1,568.9 -1.7% 3,659.9
% of revenue (*) 8.6% 9.1%   9.9%
Operating income 1,521.4 1,554.4 -2.1% 3,601.0
Net income attributable to owners of the parent 784.4 813.5 -3.6% 1,904.3
Diluted earnings per share (in €) 1.44 1.48 -2.6% 3.48
Dividend per share (in €) 0.55 (**) 0.55 (**) 0.0% 1.77
Cash flow from operations 2,346.9 2,332.9 0.6% 5,366.2
Operating investments (net of disposals) (357.9) (271.8) 31.7% (668.0)
Growth investments in concessions and PPPs (598.1) (492.1) 21.5% (1,135.4)
Free cash flow (after investments) (358.6) (601.6) -40.4% 2,134.2
Equity including non-controlling interests 13,362.2 13,055.3 2.4% 13,615.3
Net financial debt (14,239.2) (14,558.2) -2.2% (12,589.6)

(*) Excluding concession subsidiaries’ revenue derived from works carried out by non-Group companies.
(**) Interim dividend.

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Consolidated income statement for the period

(in € millions) First half 2012 First half 2011 Full year 2011
Revenue (*) 17,942.3 17,322.5 36,955.9
Concession subsidiaries’ revenue derived from works carried out by non-Group companies 279.5 369.7 690.2
Total revenue 18,221.8 17,692.2 37,646.1
Revenue from ancillary activities 108.5 73.2 205.0
Operating expenses (16,788.1) (16,196.5) (34,191.2)
Operating income from ordinary activities 1,542.2 1,568.9 3,659.9
Share-based payment expense (IFRS 2) (48.6) (40.7) (101.4)
Goodwill impairment expense (1.0) - (8.0)
Profit/(loss) of companies accounted for under the equity method 28.9 26.2 50.5
Operating income 1,521.4 1,554.4 3,601.0
Cost of gross financial debt (374.8) (362.2) (741.9)
Financial income from cash investments 49.2 43.9 95.2
Cost of net financial debt (325.6) (318.3) (646.6)
Other financial income 69.1 46.6 99.2
Other financial expense (46.9) (32.5) (74.0)
Income tax expense (390.7) (379.8) (983.6)
Net income from continuing operations 827.4 870.4 1,996.0
Net income from discontinued operations (halted or sold) - - -
Net income 827.4 870.4 1,996.0
Net income attributable to non-controlling interests 43.0 56.9 91.7
Net income attributable to owners of the parent 784.4 813.5 1,904.3
       
Earnings per share from continuing operations - attributable to owners of the parent      
Basic earnings per share (in €) 1.46 1.50 3.52
Diluted earnings per share (in €) 1.44 1.48 3.48
       
Earnings per share attributable to owners of the parent      
Basic earnings per share (in €) 1.46 1.50 3.52
Diluted earnings per share (in €) 1.44 1.48 3.48

(*) Excluding concession subsidiaries’ revenue derived from works carried out by non-Group companies.

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Consolidated comprehensive income statement for the period

  First half 2012 First half 2011 Full year 2011
(in € millions) Attributable
to owners
of the
parent
Attributable
to non-
controlling
interests
Total Attributable
to owners
of the
parent
Attributable
to non-
controlling
interests
Total Attributable
to owners
of the
parent
Attributable
to non-
controlling
interests
Total
Net income 784.4 43.0 827.4 813.5 56.9 870.4 1,904.3 91.7 1,996.0
Financial instruments of controlled companies: changes in fair value (50.6) (0.8) (51.5) 43.9 1.2 45.1 (110.9) 0.4 (110.6)
of which:                  
Available-for-sale financial assets 21.6 - 21.6 19.0 (0.0) 19.0 (19.9) (0.0) (19.9)
Cash flow hedges (*) (72.2) (0.8) (73.1) 24.9 1.2 26.1 (91.1) 0.4 (90.7)
Financial instruments of companies accounted for under the equity method: changes in fair value (153.7) (12.0) (165.7) 20.2 2.8 23.0 (255.2) (16.8) (272.0)
Currency translation differences 48.1 5.3 53.4 (45.6) (5.8) (51.5) (6.1) (1.0) (7.1)
Tax (**) 63.1 3.9 67.0 (20.4) (1.0) (21.5) 117.0 3.8 120.8
Income and expense for the period recognised directly in equity (93.1) (3.6) (96.7) (2.0) (2.8) (4.9) (255.3) (13.6) (268.9)
of which:                  
Controlled companies 10.3 2.7 13.0 (12.8) (3.1) (15.9) (80.2) (0.5) (80.7)
Companies accounted for under the equity method (103.4) (6.3) (109.7) 10.8 0.2 11.0 (175.1) (13.1) (188.2)
Total comprehensive income 691.3 39.4 730.6 811.5 54.1 865.5 1,649.0 78.1 1,727.1

(*) Changes in the fair value of cash flow hedges (interest-rate 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.
(**) Including a positive tax effect of €67.0 million relating to changes in the fair value of financial instruments in the first half of 2012 (compared with a negative effect of €21.5 million in the first half of 2011), a €7.4 million negative effect relating to available-for-sale financial assets (compared with a negative effect of €6.5 million in the first half of 2011) and a €74.5 million positive effect relating to cash flow hedges (effective part) (compared with a negative effect of €14.9 million in the first half of 2011).

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Consolidated balance sheet
Assets

(in € millions) 30/06/2012 30/06/2011 31/12/2011
Non-current assets      
Concession intangible assets 23,861.8 23,888.5 23,921.5
Goodwill 6,428.2 6,139.2 6,263.8
Other intangible assets 379.0 351.6 374.8
Property, plant and equipment 4,536.5 4,217.6 4,399.1
Investment property 30.7 50.6 48.0
Investments in companies accounted for under the equity method 783.0 724.4 748.6
Other non-current financial assets 1,618.6 1,059.9 1,267.6
Deferred tax assets 179.9 146.1 179.1
Total non current assets 37,817.7 36,577.9 37,202.5
Current assets      
Inventories and work in progress 1,066.3 880.4 1,004.1
Trade receivables 11,325.7 10,515.2 10,222.0
Other current operating assets 4,388.7 4,145.0 4,131.3
Other current non-operating assets 32.7 33.4 46.3
Current tax assets 87.8 170.3 70.4
Other current financial assets 383.5 246.5 356.6
Cash management financial assets 254.5 750.1 169.6
Cash and cash equivalents 4,962.6 4,001.4 7,372.4
Total current assets (before assets classified as held for sale) 22,501.8 20,742.3 23,372.7
Assets held for sale - - -
Total current assets 22,501.8 20,742.3 23,372.7
       
Total assets 60,319.5 57,320.2 60,575.2

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Last updated: 31/07/2012