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Parent Company              
SIMPLIFIED FINANCIAL STATEMENTS OF THE PARENT COMPANY (1)
(in millions of euros)            
SUMMARIZED STATEMENT OF INCOME
        2001 2000 1999
Operating result       1,197 1,335 721
Financial result       3,321 1,155 1,471
Including:            
• Income from subsidiaries and affiliated companies 3,660 1,245 739
• Non-recurring items and taxes       (689) 522 (1,276)
Net profit       3,829 3,012 916

(in millions of euros), except for number of shares
CHANGES IN SHAREHOLDERS’ EQUITY Issued shares Paid-in Retained Revaluation
  Number Amount surplus earnings reserve Total
December 31, 2000 740,465,798 7,405 52,717 6,401 43 66,566
Cash dividend (1) (2,361) (2,361)
2001 Net income 3,829 3,829
Cancellation of purchased treasury shares (35,368,000) (354) (5,269) (5,623)
Subscription of shares exercised by Elf beneficiaries
per the exchange guarantee 327,617 3 48 51
Issuance of common shares 506,249 5 21 26
Warrants 3,295 -
Changes in revaluation reserve 78 78
December 31, 2001 705,934,959 7,059 47,517 7,869 121 62,566
(1) Dividends distributed during 2001: 2,361 millions euros (3,30 euros per share).



SUMMARIZED BALANCE SHEET AT DECEMBER 31
  2001 2000 1999
(in millions of euros)

Assets
Non-current assets 78,741 79,986 69,333
Intangible assets 16 18 20
Property, plant and equipment 188 77 77
Investments 78,537 79,891 69,236
              – Investments in subsidiaries and affiliated companies 71,531 70,607 59,863
              – Loans to subsidiaries and affiliated companies 7,006 9,284 9,373
Current assets 3,469 3,938 3,138
Inventories 1 2 13
Accounts and notes receivable 2,472 2,520 1,697
Marketable securities 905 446 407
Cash / cash equivalent and short term deposits 91 970 1,021
Adjustment accounts 9 9 12
Total 82,219 83,933 72,483

 

Liabilities and shareholders’ equity
Shareholders’ equity 62,567 66,567 62,595
Common shares 7,059 7,405 7,222
Reserves, retained earnings 51,679 56,150 54,457
Income for the year 3,829 3,012 916
Contingency reserves 266 328 179
Debts 19,332 16,912 9,637
Loans 17,361 14,831 8,246
               – Debentures other than convertible (1) 5,861 5,810 3,329
               – Other loans and bank overdrafts 11,500 9,012 4,917
Liabilities 1,971 2,081 1,391
Adjustment accounts 54 126 72
Total 82,219 83,933 72,483
(1) Including assimilated loans.

The summarized financial statements of the Parent Company have been prepared in accordance with French Generally Accepted Accounting Principles. The full financial statements of the Parent Company are available upon request from the Company.

SUBSIDIARIES AND AFFILIATES
(in millions of euros)
% of capital owned by company Capital

 Other share- holders’ equity Book value ofinvestments

 		Loans & advances Sales for the year Net Income Dividend received Commit- ments contin- gencies
 
 
 
Decembre 31, 2001 gross net
Subsidiaries
Total Chimie 100.0 930 11,525 13,117 13,117 – – 612 694 –
TotalFinaElf EP Algιrie 100.0 35 404 129 129 – 555 131 – –
Omnium Insurance
and Reinsurance Cy. 100.0 45 192 115 115 – 200 81 – –
Elf Aquitaine 95.6 2,222 8,370 44,757 44,757 – 385 3,884 876 –
Elf Antar France 59.6 535 2,372 2,632 2,632 – 8,963 1,132 108 –
Total Fina Gestion 100.0 3,969 3,969 3,969 – – – – –
TotalFinaElf
Holdings Europe 51.4 63 2,949 3,966 3,966 – – 1,035 629 –
Other – – – 3,113 2,845 7,695 – – 1,353 3,520
Total – – – 71,798 71,530 7,695 – – 3,660 3,520


FIVE-YEAR FINANCIAL DATA
  2001 2000 1999 1998 1997
I - CAPITAL AT YEAR END
(in thousands of euros, except for number of shares)
Common stock 7,059,350 7,404,658 7,222,037 1,865,882 1,862,418
Number of shares of common stock outstanding 705,934,959 740,465,798 722,203,679 244,787,638 244,333,176
Potential number of shares for issue
• share subscription options 449,881 962,680 1,522,135 2,578,770 3,052,332
• TotalFinaElf US warrants 1,786,395 1,789,691 1,674,958 – –
• exchange of Elf Aquitaine share subscription
and purchase options 5,951,375 6,296,965 6,786,902 – –
• PetroFina employee warrants – – 136,359 – –
II – OPERATIONS AND INCOME FOR THE YEAR          
(in thousands of euros)
Net commercial sales 3,949,347 16,488,288 7,666,169 4,575,011 6,777,501
Employee profit sharing 10,200 10,214 10,214 4,573 7,394
Net income 3,828,722 3,012,113 916,109 572,623 662,432
Retained earnings brought forward 651,989 19,134 385,535 501,955 398,369
Income available for appropriation: 4,480,711 3,031,247 1,301,644 1,074,578 1,060,801
• Legal reserve – 18,262 1,061 346 1,683
• Provident funds – – – – –
• Reserves – – (408,756) – 76,224
• Dividends 2,712,141 2,449,443 1,709,339 704,319 484,229
• Retained earnings 1,768,570 563,542 – 369,913 498,665
III – EARNINGS PER SHARE          
(in euros)          
Income after tax, before depreciation, amortization and provisions (1) 5.51 4.56 0.98 2.74 1.70
Net income (1) 5.52 4.26 2.61 2.33 2.70
Net dividend per share 3.80 3.30 2.35 2.00 1.98
IV – PERSONNEL          
(in thousands of euros, except for the number of employees)
Average number of employees during the year (2) 2,645 2,488 2,523 2,501 2,424
Total payroll for year 219,987 203,501 171,122 162,217 150,252
Social security and other staff benefits 106,315 85,738 85,083 79,574 77,734

(1) Earnings per share are calculated on the basis of the weighted average number of common shares and common share equivalents outstanding during the year.
(2) Including employees on early retirement or paid training leave (30 in 2000 and 7 in 2001).



STATEMENTS OF CHANGES IN CAPITAL  
(in thousands of euros, except for number of shares)  
    Successive
    Issue / amount Cumulated
Year Increase in Par conversion of nominal number
  capital Value premium capital of shares
1997 Capital increase:
  • Capital increase reserved for employees 12,431 69,859 1,858,021 243,756,344
  • Employees share subscription plans 4,397 15,636 1,862,418 244,333,176
1998 Capital increase:
  • Employees share subscription plans 3,464 13,673 1,865,882 244,787,638
1999 Capital increase:
  • Nominal value change 581,995 (581,995) 2,447,877 244,787,638
  • PetroFina 1,046,198 10,721,356 3,494,075 349,407,436
  • Elf 3,717,351 37,860,626 7,211,426 721,142,550
  • Warrants 19 158 7,211,445 721,144,494
  • Employees share subscription plans 10,592 35,377 7,222,037 722,203,679
2000 Capital increase:        
  • Capital increase reserved for employees 19,772 173,229 7,241,809 724,180,872
  • PetroFina 10,429 154,354 7,252,238 725,223,819
  • Elf 144,378 2,315,869 7,396,616 739,661,587
  • Warrants 31 302 7,396,647 739,664,662
  • Employees share subscription plans Elf 2,489 34,439 7,399,136 739,913,543
  • Employees share subscription plans 5,522 21,144 7,404,658 740,465,798
2001 Capital increase/decrease:      
  • Warrants 33 318 7,404,691 740,469,093
  • Subscription of shares exercised by the Elf beneficiaries per the exchange guarantee 3,276 47,760 7,407,967 740,796,710
  • Employees share subscription plans 5,063 20,740 7,413,030 741,302,959
  • Capital decrease (353,680) (5,269,375) 7,059,350 705,934,959
 
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| Key Figures | Chairman's message | The Executive Committee and the Management Committee |
| Corporate values | 2001 Industrial events | The Group's three segments |
| Shareholders' notebook | Financial information | Abbreviations |