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Understanding financial statements
Consolidated income statement
Consolidated balance sheet
Consolidated Cash flow statement
Consolidated income statement
| In M€ | 2007 | 2006 |
| Sales revenue - Note 1 | 11,923 | 10,863 |
| Gross margin | 2,762 | 2,220 |
| Research and development expenses | (421) | (355) |
| Marketing, general and administrative expenses | (1,410) | (1,271) |
| Other operating income and expenses | (123) | (56) |
| Restructuring and CATS-CASA early retirement costs | (57) | (131) |
| Operating Income - Note 2 | 751 | 407 |
| Financial income | 64 | 97 |
| Income tax | (81) | (51) |
| Net income of consolidated businesses | 734 | 453 |
| Share in net income of equity affiliates - Note 3 | 148 | 220 |
| Net income from continued operations | 882 | 672 |
| Minority interests | (139) | (24) |
| Consolidated net income - Note 4 | 743 | 649 |
Consolidated balance sheet
| ASSETS In millions of euros |
12/31/2007 | 12/31/2006 |
| Non-current assets | 21,425 | 17,350 |
| Goodwill - Note 1 | 4,377 | 2,515 |
| Fixed assets | 6,933 | 4,989 |
| End-of-life-cycle assets - Note 2 | 2,491 | 2,091 |
| Assets earmarked for end-of-life-cycle obligations - Note 2 | 2,873 | 2,986 |
| Equity affiliates | 1,588 | 1,521 |
| Financial assets | 2,588 | 2,376 |
| Deferred tax assets | 604 | 873 |
| Current assets | 9,251 | 8,543 |
| Inventories and work-in-process | 2,817 | 2,306 |
| Trade accounts receivable and related accounts | 3,884 | 3,604 |
| Other accounts receivable | 1,402 | 1,263 |
| Current tax assets | 94 | 116 |
| Cash and other current financial assets - Note 3 | 1,054 | 1,254 |
| LIABILITIES AND SHAREHOLDERS’ EQUITY In millions of euros |
||
| Shareholders’ equity and minority interests | 7,464 | 7,016 |
| Non-current liabilities | 11,951 | 8,352 |
| Employee benefits | 1,175 | 1,122 |
| Provisions for end-of-life-cycle obligations - Note 2 | 5,075 | 4,585 |
| Other non-current provisions | 121 | 113 |
| Borrowings due in more than one year - Note 4 | 4,302 | 1,407 |
| Deferred tax liabilities | 1,277 | 1,124 |
| Current liabilities | 11,262 | 10,526 |
| Current provisions | 1,823 | 1,788 |
| Borrowings due in one year or less - Note 4 | 613 | 712 |
| Advances and prepayments received | 4,172 | 4,185 |
| Trade accounts payable and related accounts | 2,565 | 2,093 |
| Other operating liabilities | 1,921 | 1,650 |
| Current tax liabilities | 127 | 74 |
| Other non-operating liabilities | 41 | 23 |
| TOTAL SIMPLIFIED BALANCE SHEET | 30,676 | 25,893 |
Consolidated cash flow statement
| in millions of euros |
2007 | 2006 |
| Cash flow from operations | 1,294 | 1,231 |
| Change in WCR* - Note 1 | (416) | (344) |
| Cash from operating activities | 722 | 797 |
| Cash used for investing activities | (2,796) | (953) |
| Cash used for financing activities | 1,522 | (364) |
| Decrease (increase) in marketable securities | 178 | (1) |
| Change in consolidated Group, Forex adjustments, etc. | (7) | 2 |
| Increase (decrease) in net cash | (381) | (518) |
| Net cash at the beginning of the year | 901 | 1,419 |
| Cash at the end of the year | 634 | 962 |
| Short-term bank facilities and other | (113) | (61) |
| Net cash at the end of the year | 520 | 901 |
Press releases 
07/18/2008 - Defective pipe discovered at Cerca Romans
News briefs 
06/25/2008 - AREVA multiplies its recruitment operations around the world

