2020 MANAGEMENT REPORT AND ANNUAL …

2020 MANAGEMENT REPORT AND ANNUAL

CONSOLIDATED FINANCIAL STATEMENTS

CONTENTS

01 MANAGEMENT REPORT

1

ENGIE 2020 RESULTS..............................................................................................................................................7

2

BUSINESS TRENDS............................................................................................................................................... 17

3

OTHER INCOME STATEMENT ITEMS ............................................................................................................... 24

4

CHANGES IN NET FINANCIAL DEBT ................................................................................................................. 26

5

OTHER ITEMS IN THE STATEMENT OF FINANCIAL POSITION.................................................................. 30

6

PARENT COMPANY FINANCIAL STATEMENTS ............................................................................................. 31

02 CONSOLIDATED FINANCIAL STATEMENTS

INCOME STATEMENT .......................................................................................................................................................... 34 STATEMENT OF COMPREHENSIVE INCOME ............................................................................................................... 35 STATEMENT OF FINANCIAL POSITION........................................................................................................................... 36 STATEMENT OF CHANGES IN EQUITY........................................................................................................................... 38 STATEMENT OF CASH FLOWS ......................................................................................................................................... 40

03 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

Note 1 ACCOUNTING FRAMEWORK AND BASIS FOR PREPARING THE CONSOLIDATED FINANCIAL STATEMENTS ......................................................................................................................................................... 43

Note 2 MAIN SUBSIDIARIES AT DECEMBER 31, 2020................................................................................................ 49 Note 3 INVESTMENTS IN EQUITY METHOD ENTITIES .............................................................................................. 55 Note 4 MAIN CHANGES IN GROUP STRUCTURE ....................................................................................................... 63 Note 5 FINANCIAL INDICATORS USED IN FINANCIAL COMMUNICATION............................................................ 66 Note 6 SEGMENT INFORMATION.................................................................................................................................... 70 Note 7 REVENUES .............................................................................................................................................................. 78 Note 8 OPERATING EXPENSES ...................................................................................................................................... 82 Note 9 OTHER ITEMS OF INCOME/(LOSS) FROM OPERATING ACTIVITIES........................................................ 83 Note 10 NET FINANCIAL INCOME/(LOSS) ....................................................................................................................... 86 Note 11 INCOME TAX EXPENSE........................................................................................................................................ 87 Note 12 EARNINGS PER SHARE ....................................................................................................................................... 91 Note 13 GOODWILL............................................................................................................................................................... 92 Note 14 INTANGIBLE ASSETS .......................................................................................................................................... 100 Note 15 PROPERTY, PLANT AND EQUIPMENT ........................................................................................................... 104

ENGIE - 2020 CONSOLIDATED FINANCIAL STATEMENTS 3

Note 16 FINANCIAL INSTRUMENTS................................................................................................................................ 108 Note 17 RISKS ARISING FROM FINANCIAL INSTRUMENTS..................................................................................... 125 Note 18 EQUITY ................................................................................................................................................................... 145 Note 19 PROVISIONS ......................................................................................................................................................... 149 Note 20 POST-EMPLOYMENT BENEFITS AND OTHER LONG-TERM BENEFITS ............................................... 155 Note 21 SHARE-BASED PAYMENTS............................................................................................................................... 164 Note 22 RELATED PARTY TRANSACTIONS ................................................................................................................. 166 Note 23 EXECUTIVE COMPENSATION .......................................................................................................................... 168 Note 24 WORKING CAPITAL REQUIREMENTS, INVENTORIES, OTHER ASSETS AND OTHER LIABILITIES ......

............................................................................................................................................................................... 169 Note 25 LEGAL AND ANTI-TRUST PROCEEDINGS ..................................................................................................... 171 Note 26 SUBSEQUENT EVENTS...................................................................................................................................... 177 Note 27 FEES PAID TO THE STATUTORY AUDITORS AND TO MEMBERS OF THEIR NETWORKS .............. 178 Note 28 INFORMATION REGARDING LUXEMBOURG AND DUTCH COMPANIES EXEMPTED FROM THE

REQUIREMENTS TO PUBLISH ANNUAL FINANCIAL STATEMENTS ....................................................... 179

ENGIE - 2020 CONSOLIDATED FINANCIAL STATEMENTS 4

ENGIE - 2020 CONSOLIDATED FINANCIAL STATEMENTS 5

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