Arab Today, arab today france\s areva posts third straight annual loss
Last Updated : GMT 22:32:54
Arab Today, arab today
Arab Today, arab today

France\'s Areva posts third straight annual loss

Arab Today, arab today

Arab Today, arab today France\'s Areva posts third straight annual loss

Paris - AFP

France's state-controlled nuclear energy conglomerate Areva on Wednesday posted 2013 results showing its third consecutive annual loss and forecast lower revenues this year because of persistent problems in the market. The company made a net loss of 494 million euros ($675 million). It said that result was worse than the 99-million-euro loss for 2012 because of 425 million euros it had to set aside last year to cover overruns and delays with a European Pressurised Reactor (EPR) it has been building in Olkiluoto, Finland for the past nine years. Revenues last year also shrank 4 percent to 9.2 billion euros, and its renewable energies activities took a hit because of lack of orders. The results ran counter to Areva's forecast early last year that it would finish 2013 in the black. Areva's EBITDA (earnings before interest, taxes, depreciation and amortisation) was 1.04 billion euros, close to its target of 1.1 billion euros. The group, which is directly and indirectly owned 87 percent by the French state, said it continued to encounter challenges in the nuclear market, which is being treated with caution following the 2011 Fukushima catastrophe. "The situation remains uncertain in the near-term," Arev's chairman and chief executive Luc Oursel said in the statement giving the results. He said the closure of some US reactors and struggles for European electricity companies also weighed Areva down. "We will have to learn to live in the short-term with all these uncertainties and yet we can reaffirm our mid- and long-term conviction that the nuclear market will continue to develop," he said. Oursel said Areva aimed to sell 10 EPRs over the next two years, on top of the four already under construction around the world. Investment this year should amount to 1.3 billion euros, dropping to 1.1 billion euros next year. Net debt was 4.42 billion euros, against 4.31 billion in 2012's results. Oursel added that Areva had no fixed timetable to reach an accord with Niger over renewing its contracts for two uranium mines, despite both sides saying a late February deadline had been agreed. The contracts expired at the end of December 2013. Niger, the world's fourth biggest uranium producer, argues that the previous conditions were unfair and that its financial compensation should be revised upwards. Areva says a big hike in what it pays would threaten the profitability of the two mines, which provide it with a third of the uranium it uses. "These talks are taking time, and are even more difficult right now given that the uranium market is not going well," Oursel said.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today france\s areva posts third straight annual loss Arab Today, arab today france\s areva posts third straight annual loss

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today france\s areva posts third straight annual loss Arab Today, arab today france\s areva posts third straight annual loss

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today Airbus CEO says won't cling to job

GMT 06:52 2017 Monday ,16 October

Airbus CEO says won't cling to job
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today 'Final phase' of battle for Raqa

GMT 03:47 2017 Monday ,16 October

'Final phase' of battle for Raqa
Arab Today, arab today Uber puts the brakes on UberPOP

GMT 14:15 2017 Tuesday ,10 October

Uber puts the brakes on UberPOP
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Sidem reveals plan to improve education

GMT 15:52 2017 Friday ,06 October

Sidem reveals plan to improve education
Arab Today, arab today British actress becomes fifth woman

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman
Arab Today, arab today India to close colonial-era military farms

GMT 18:49 2017 Monday ,16 October

India to close colonial-era military farms
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Britain's Vauxhall to cut 400 jobs

GMT 10:53 2017 Sunday ,15 October

Britain's Vauxhall to cut 400 jobs
Arab Today, arab today Norway seeks 'Tesla tax' on electric cars

GMT 08:17 2017 Friday ,13 October

Norway seeks 'Tesla tax' on electric cars
Arab Today, arab today Safaa Sultan happy for “Love School”

GMT 10:55 2017 Thursday ,12 October

Safaa Sultan happy for “Love School”
Arab Today, arab today Conservation cutbacks put Brazil's

GMT 12:02 2017 Saturday ,14 October

Conservation cutbacks put Brazil's

GMT 10:19 2017 Wednesday ,11 October

Bosy reveals behind her participation in festival

GMT 10:37 2017 Thursday ,12 October

Cara Delevingne accuses Weinstein

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 10:20 2017 Thursday ,12 October

Chad extends key conservation area

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 08:26 2017 Wednesday ,11 October

Trump Rolls Back Obamacare Provision

GMT 07:16 2017 Friday ,13 October

Lufthansa to swallow lion's share

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 03:59 2017 Sunday ,15 October

US mobile carriers Sprint, T-Mobile to merge

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday