7.
Organisational charts
EDF _ REFERENCE DOCUMENT _ 2011 _ 167
Organisational charts
100%
EDF Belgium
63,5%
EDF Luminus
7,2%
Constellation Energy Group
49,99% 100%
EDF Inc. / United States
.7
Constellation Energy Nuclear Group
100%
Unistar Nuclear Energy
E D F
90%
19,6% 35%
I
30% 100%
N
Norte Fluminense / Brazil Shandong Zhonghua Power Company Ltd. / China San Men Xia / China Taishan Nuclear Power Joint Venture / China Figlec / China
40%
NTPC (Nam Theun) / Laos
T 56,3%
E R N
75%
Meco / Vietnam EDF Polska / Poland
100% 95,6% 49%
EDF Demasz / Hungary BE ZRt / Hungary SSE / Slovakia
98,4%
16,7%
EC Zielona Gora / Poland
Kogenaracja / Poland
A
17,7% 94,3%
T
99,8%
I
46,1%
O
100%
N
100%
A
100%
Eck / Poland EC Wybrzeze / Poland 18,8%
ERSA (Rybnik) / Poland EDF Energy UK Ltd. / United Kingdom
100%
EDF Energy Group
80%
Lake Acquisitions Ltd.
100%
British Energy
EDF - Alpes Investissements / Switzerland
EDF Gas Deutschland
50%
25%
FSG ALPIQ
L
25%
100%
50%
100%
100%
Estag / Group Austria Fenice / Italy SLOE / Netherlands EDF Development Company Ltd. UK EDF Production UK
EDF _ REFERENCE DOCUMENT _ 2011 _ 169
7. Organisational charts All the companies within the Group’s scope of consolidation are indicated in note 52 to the consolidated financial statements for the year ended 31 December 2011.
On the international level, subsidiaries participating in the system enter into a framework agreement, whereby EDF serves as the Cash Center. EDF also centralises all the currency flows from its French subsidiaries.
Information on subsidiaries The presentation of the activities of the main subsidiaries of the Group, the description of their recent acquisitions, and their economic weighting in the Group appears in section 6.3 (“Presentation of the EDF group’s international activity”) of this reference document. In addition, note 6.1 to the consolidated financial statements for the year ended 31 December 2011, provides further financial information on the Group companies presented by operational sectors.
Offices held by EDF executives Offices held by EDF executives within the Group’s subsidiaries are indicated in section 14.1.2 (“Personal information on members of the Board of Directors”).
Intra-group contracts Cash pooling agreements entered into between EDF and its subsidiaries The cash pooling set up by EDF centralises all the cash positions of the subsidiaries and the Group’s liquidity can be optimised. This cash pooling consists in grouping all the cash balances of the subsidiaries at the level of the parent company. It includes certain French and international subsidiaries. It does not include RTE. The system for cash pooling in place for the companies of the EDF group is defined under cash agreements. Bilateral agreements between EDF and each subsidiary define the specific conditions for each arrangement, such as remuneration of balances, etc.
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Financial flows between EDF and its subsidiaries In addition to the financial flows relating to the cash pooling agreements mentioned above, financial flows between EDF and its subsidiaries are also related to distributions of dividends within the Group. A substantial portion of the dividends paid by some of the Group’s subsidiaries (including EDF Energy) is exclusively paid to EDF International. Total dividends received by EDF International in 2011 came to €321.7 million (dividends received in 2011 for the year ended 31 December 2010). EDF received a total of 1,045.5 million euros in dividends in 2010 from its consolidated subsidiaries. Other financial flows between EDF and its subsidiaries are loans, asset transfers and guarantees made by the parent company of the Group for the benefit of certain subsidiaries. In the context of the Group’s financing centralisation policy decided on in 2006, EDF centralises the financing of its subsidiaries. In this context, in 2007 EDF created a subsidiary located in Belgium, EDF Investissements Groupe, which centralises medium and long term intra group financing. The financial flows relating to the fees or royalties paid by the subsidiaries are not significant. Indeed, the Group’s subsidiaries usually have their own central services and operate under their own brands. A description of the financial flows related to contracts between EDF and its subsidiaries is set forth in chapter 19 (“Related party transactions”) hereafter.
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