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Non‑current assets
Intangible assets, net 10 4,464.8 4,835.7
Goodwill 9 4,663.7 5,322.1
Property, plant and equipment net 11 7,756.0 8,891.0
Rights of use 15 1,168.0 1,405.8
Equity instruments 13 107.9 132.2
Loans and receivables carried at amortized cost 13 712.2 653.7
Derivative financial instruments 13 146.5 115.7
Investments in joint ventures 12.1 925.5 953.9
Investments in associates 12.2 1,063.4 1,070.2
Contracts assets 4.1.3 80.6 46.2
Other assets 159.7 184.8
Deferred tax assets 7 432.4 541.9
Total non‑current assets 21,680.7 24,153.2
Current assets
Loans and receivables carried at amortized cost 13 77.0 91.4
Derivative financial instruments 13 96.4 75.5
Trade and other receivables 13 4,324.3 4,670.9
Inventories 483.1 528.0
Contracts assets 4.1.3 498.4 733.8
Other assets 1,606.8 1,648.5
Financial assets measured at fair value through income 13 54.9 29.8
Cash and cash equivalents 13 5,319.6 3,703.0
Total current assets 12,460.5 11,480.9
Assets classified as held for sale 1.2.4 1,443.0 -
Total assets 35,584.2 35,634.1
Non‑current liabilities
Provisions 18 1,413.9 1,500.0
Long‑term borrowings 13 10,990.0 9,914.0
Lease liabilities 15 975.5 1,159.4
Derivative financial instruments 13 4.9 6.7
Other financial liabilities 13 37.6 42.8
Contracts liabilities 4.1.3 196.3 267.3
Other liabilities 524.1 566.6
Deferred tax liabilities 7 596.2 791.1
Total non‑current liabilities 14,738.5 14,247.9
Current liabilities
Provisions 18 541.8 475.2
Short‑term borrowings 13 2,956.6 2,609.1
Lease liabilities 15 255.6 314.9
Derivative financial instruments 13 36.2 57.3
Trade and other payables 13 3,263.2 3,534.3
Contracts liabilities 4.1.3 1,176.1 911.3
Other liabilities 3,980.4 4,250.6
Total current liabilities 12,209.9 12,152.7
Liabilities related to assets classified as held for sale 1.2.4 586.4 -
Total shareholders’ equity and liabilities 35,584.2 35,634.1
NB: The values in the tables are generally expressed in millions of euros. Rounding may in some cases produce a non‑material discrepancy in totals or variances.
As of December 31, 2019, the data has been restated to reflect the error correction described in Note 1.3.
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1.1.2 Consolidated income statements
Share in net income of equity‑accounted companies considered as core business 144.8 198.3
of which: share in net income (loss) of joint ventures 12.1 39.7 71.4
of which: share in net income (loss) of associates 12.2 105.1 126.9
Income from operating activities after share in net income
of equity‑accounted companies considered as core business 520.7 1,463.2
Net diluted income (Group share) per share (in euros) 8 (0.43) 0.48
NB: The values in the tables are generally expressed in millions of euros. Rounding may in some cases produce a non‑material discrepancy in totals or variances.
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1.1.3 Consolidated statements of comprehensive income
December 31, December 31,
December 31, 2020 of which December 31, 2019 of which
December 31, 2020 of which non controlling December 31, 2019 of which non controlling
(in millions of euros) 2020 Group share interests 2019 Group share interests
(a) Out of a total of – EUR 501.7 million, – EUR 324.3 million are related to the variation of the US dollar and -EUR 66.2 million to the variation of the Hong Kong dollar.
NB: The values in the tables are generally expressed in millions of euros. Rounding may in some cases produce a non‑material discrepancy in totals or variances.
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1.1.4 Statements of changes in consolidated shareholders’ equity
Shareholders’ equity
at December 31, 2018 621,362,579 2,485.4 5,215.2 (2,480.9) (328.4) (28.3) (51.8) 1,580.6 6,391.8 2,600.8 8,992.6
IFRIC 23 restatement (b) (88.5) (88.5) (19.9) (108.4)
Application of IAS 8
for error correction on
SUEZ Water Advanced
Solutions (g) (54.7) (54.7) (54.7)
Shareholders’ equity
at January 1, 2019 621,362,579 2,485.4 5,215.2 (2,624.1) (328.4) (28.3) (51.8) 1,580.6 6,248.6 2,580.9 8,829.5
Net income 351.7 351.7 257.5 609.2
Other comprehensive
income (f) (12.6) (81.2) 36.0 (57.8) (70.3) (128.1)
Comprehensive income 339.1 (81.2) 36.0 293.9 187.2 481.1
Share‑based payment 17.5 17.5 17.5
Dividends distributed
in cash (401.8) (401.8) (259.7) (661.5)
Issue of new undated
deeply subordinated notes
net of issuance fees (c) 497.8 497.8 - 497.8
Partial redemption
of undated deeply
subordinated notes
(including redemption
premium) (c) (9.1) (354.6) (363.7) - (363.7)
Interests of undated deeply
subordinated notes issue (47.1) (47.1) - (47.1)
Purchase/sale of treasury
shares (1.4) 4.3 2.9 - 2.9
Transactions between
shareholders (d) 209.1 209.1 292.0 501.1
Business combinations (e) (9.7) (9.7) 18.0 8.3
Deferred taxes recognized
through equity write off (f) (32.2) (32.2) - (32.2)
Other changes (6.6) (6.6) 6.4 (0.2)
Shareholders’ equity
at December 31, 2019 621,362,579 2,485.4 5,215.2 (2,566.3) (409.6) 7.7 (47.5) 1,723.8 6,408.7 2,824.8 9,233.5
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Change in Undated deeply Shareholders’ Non‑
Number of Share Consolidated fair value Translation Treasury subordinated equity, controlling
(in millions of euros) shares Capital Premiums reserves and other adjustments shares notes (a) Group share interests Total
Shareholders’ equity
at December 31, 2019 621,362,579 2,485.4 5,215.2 (2,566.3) (409.6) 7.7 (47.5) 1,723.8 6,408.7 2,824.8 9,233.5
Net income (228.2) (228.2) 153.8 (74.4)
Other comprehensive income (12.1) (10.7) (364.6) (387.4) (151.3) (538.7)
Comprehensive income (240.3) (10.7) (364.6) (615.6) 2.5 (613.1)
Share‑based payment 1.9 1.9 - 1.9
Dividends distributed in cash (282.7) (282.7) (150.3) (433.0)
Interests of undated deeply
subordinated notes issue (42.3) (42.3) - (42.3)
Purchase/sale of treasury shares 0.2 0.5 0.7 - 0.7
Conversion of OCEANE bonds
by cancellation of treasury
shares following delivery 0.2 0.2 - 0.2
Redemption of undated deeply
subordinated notes 2014 (147.9) (147.9) - (147.9)
Employee share issue (b) 9,970,050 39.9 68.3 4.0 112.2 - 112.2
Capital reduction (c) (2,970,050) (11.9) (31.4) (1.2) 44.5 - - -
Capital increase/(decrease)
in non controlling interests - 12.5 12.5
Transactions between
shareholders (2.1) (2.1) 1.4 (0.7)
Business combinations - 1.3 1.3
Other changes (d) (26.5) (26.5) (49.4) (75.9)
Shareholders’ equity
at December 31, 2020 628,362,579 2,513.4 5,252.1 (3,155.3) (420.3) (356.9) (2.3) 1,575.9 5,406.6 2,642.8 8,049.4
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1.1.5 Consolidated statements of cash flows
Investments in property, plant and equipment and intangible assets 3.4.3 (1,323.5) (1,417.3)
Takeover of subsidiaries net of cash and cash equivalents acquired 3.4.3 13.7 (49.6)
Acquisitions of interests in associates and joint‑ventures 3.4.3 (61.9) (23.1)
Acquisitions of equity instruments 3.4.3 (7.8) (15.9)
Disposals of property, plant and equipment and intangible assets 40.6 85.6
Disposals of interests in associates and joint‑ventures (a) 63.1 15.8
Disposals of equity instruments 0.4 8.7
Loss of controlling interests in subsidiaries net of cash and cash equivalents sold (b) 295.4 27.6
Other net interests on financial assets 9.5 (23.4)
Dividends received on non‑current financial assets 3.0 3.6
Change in loans and financial receivables 92.0 (66.7)
Cash flows from investing activities (875.5) (1,454.6)
(a) This flow is mainly related to the disposal of 4.8% of Aquasure for EUR 47 million.
(b) This flow is mainly related to the disposal of 100% of the Group’s Recycling and Recovery activities in Sweden and the disposal of 53.51% of Essal in Chile, held by Aguas Andinas (see Note 2.5).
(c) This flow is the capital increase net of issuance costs as part of the employee shareholding plan (Sharing 2019), realized in January 2020.
(d) Including the sale without loss of control of 20% of the regulated water activities in the United States for EUR 510.2 million in 2019.
(e) Including withholding taxes and coupons of undated deeply subordinated notes paid by the parent company.
(f) In accordance with IAS 7.8, bank overdrafts due on demand included in financial liabilities in the consolidated statement of financial position are reclassified as cash and cash equivalents in the
consolidated statement of cash flows; EUR 902.1 million of this reclassification relates to the financial year 2020. For 2019 closing, the amount was EUR 837.1 million.
NB: The values in the tables are generally expressed in millions of euros. Rounding may in some cases produce a non‑material discrepancy in totals or variances.