Press release

GROUPE / FINANCE

January 31, 2013

As of December 31, 2012:

  • Sales revenue growth to €9.342bn (+5.3% vs. 2011), led by nuclear and renewables operations
  • Backlog replenished in 2012 to €45.4bn thanks to the increase in order intake

AREVA Chief Executive Officer Luc Oursel offered these comments on the group's level of activity in 2012:

"Significant progress has been achieved in the various components of the Action 2016 plan after the first year of its deployment. The increase of more than 10% in nuclear order intake for the year illustrates the commercial vitality of the group in recurring operations. The supply of products and services to existing nuclear reactors around the world constitutes a robust foundation for the group's business and future profitability. The renewal of backlog in 2012, which represents nearly five years of sales revenue, gives the group a long-term visibility. The growth of sales revenue in nuclear is slightly lower than forecast due to the shifting of deliveries initially scheduled for the end of 2012 to the beginning of 2013 and the automatic impact of provisions recorded for a power plant modernization project. Nonetheless, cost reduction efforts deployed throughout the group more than offset the impacts in terms of EBITDA and free operating cash flow expected for 2012."

AREVA had 9.342 billion euros in consolidated sales revenue in 2012, an increase of 5.3% compared with 2011 (+4.4% like for like). This increase reflects growth in both nuclear and renewables operations:

  • the nuclear operations reported sales revenue of 8.633 billion euros in 2012, compared with 8.426 billion euros in 2011, a 2.4% increase. On a reported basis, growth was led by the Mining Business Group (+5.5%), the Reactors & Services BG (+7.1%) and the Back End BG (+9.5%), offsetting the expected decrease in business in the Front End BG (-10.2%);
  • the Renewable Energies BG reported 572 million euros in sales revenue, a sharp increase in relation to 2011 (+92.3%);
  • foreign exchange had a positive impact of 159 million euros over the period, while changes in consolidation scope had a negative impact of 83 million euros.

Fourth quarter 2012 sales revenue totaled 2.799 billion euros. It was down 4.2% on a reported basis (-4.1% like for like), chiefly due to a lower level of activity in the Mining BG compared with a particularly high fourth quarter 2011 and following three consecutive quarters of strong growth for the BG. Foreign exchange had a positive impact of 29 million euros over the period. Changes in consolidation scope had a negative impact of 31 million euros for the quarter.

The group's backlog of 45.4 billion euros at December 31, 2012 was stable in relation to December 31, 2011 (45.6 billion euros). The 10.4% increase in nuclear order intake (a total of 8% for the group) compensated for the activity level growth in 2012 and cancellations of orders in nuclear operations following the Fukushima accident (for a total amount of 936 million euros, compared with 464 million euros at December 31, 2011 and 742 million euros at September 30, 2012).

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