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AREVA: At December 31, 2012: Sales revenue growth to €9.342bn (+5.3% vs. 2011), led by nuclear and renewables operations

  AREVA: At 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

Business Wire

PARIS -- January 31, 2013

RegulatoryNews:

AREVA (Paris: 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.”

Sales revenue    2012     2011^1    Change    Change    Backlog
                                                                       at
                                                          LFL          Dec. 31,
                                                                       2012
                                                                       
(in million                                                            (in
euros)                                              millions
                                                                       euros)
Mining BG           1,360       1,289        +5.5%        +4.8%        12,036
Front End BG        2,049       2,283        -10.2%       -10.5%       18,047
Reactors &          3,452       3,224        +7.1%        +5.5%        8,314
Services BG
Back End BG      1,732    1,582     +9.5%     +8.6%     6,030
Renewable        572      297       +92.3%    +94.0%    844
Energies BG
Corporate /      176      197       ns        ns        99
Other^2
Sub-total
nuclear          8,633    8,426     +2.4%     +1.5%     44,431
operations
Total            9,342    8,872     +5.3%     +4.4%     45,369
Revenue -           3,286       3,197        +2.8%        ns           ns
France
Revenue -        6,055    5,675     +6.7%     ns        ns
International


^1 Sales revenue for 2011 was adjusted to integrate the Engineering & Projects
activity in Corporate / Other

^2 Includes the activities of Information Systems Consulting and Engineering &
Projects (the Engineering & Projects department contributed €39m to nuclear
sales revenue in 2012 and €49m in 2011)

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).

Performance by Business Group

Significant orders in 2012 included the integrated contract of more than 400
million euros that the group signed in August with Emirates Nuclear Energy
Corporation (ENEC) for the supply of enriched uranium over an eight-year
period to the new Barakah nuclear power plant under construction in the United
Arab Emirates. The amount of this contract is divided between the backlogs of
the Mining and Front End BGs.

Mining Business Group

The Mining BG had 12.036 billion euros in backlog at December 31, 2012, an
increase of 17.7% compared with the end of 2011. Despite uncertain uranium
market conditions, several significant uranium supply contracts were signed
during the year, including:

  *several long-term contracts with US and Asian utilities, most notably the
    Chinese utility CNNC;
  *two large supply contracts with EDF for a total of 30,000 metric tons of
    uranium over the 2014-2035 period.

For the full year of 2012, the Mining BG posted sales revenue of 1.360 billion
euros, with a growth of 5.5% on a reported basis and of 4.8% like for like.
Foreign exchange had a positive impact of 49 million euros. Changes in
consolidation scope had a negative impact of 40 million euros and were mainly
the result of the deconsolidation of La Mancha Resources Inc. following the
disposal of that business in late August 2012.

Sales revenue was led by the increase in average contract sales prices despite
a less favorable market environment^1.

Front End Business Group

The Front End BG had 18.047 billion euros in backlog at December 31, 2012,
essentially unchanged compared with the end of 2011. Of particular note in
2012 were the following:

  *several contracts in the Chemistry business with US utilities;
  *several contracts in the Enrichment business with foreign utilities;
  *a contract with EDF for the supply of fuel assemblies and related services
    for the 2013-2014 period;
  *a contract with the British utility EDF Energy and contracts with the
    German utilities RWE and EnBW for the supply of fuel assemblies.

For the full year of 2012, the Front End BG posted sales revenue of 2.049
billion euros, a 10.2% decrease on a reported basis (-10.5% like for like).
The transfer of operations from the Fuel Business Unit (BU) to the Reactors &
Services BG had a positive foreign exchange impact of 43 million euros and a
negative consolidation scope impact of 36 million euros.

  *The Enrichment business was down due to the anticipated drop in export
    sales, principally in Japan.
  *Sales revenue from the Fuel business fell due to the drop in volumes
    delivered in Germany.
  *The Chemistry business rose due to increased volumes sold during the year.

Reactors & Services Business Group

The Reactors & Services BG had 8.314 billion euros in backlog at December 31,
2012, a decrease of 8.7% compared with the end of 2011. The main new orders in
2012 were as follows:

  *with EDF for reactor vessel inspections at all 58 nuclear reactors in the
    French fleet;
  *with the Canadian company SNC-Lavalin Nucléaire for the supply of
    ventilation systems as part of the Safety Alliance program;
  *for the supply and deployment of our TELEPERM XS instrumentation and
    control system in VVER power plants in Russia;
  *with Asian and European customers to supply safety solutions and equipment
    as part of the Safety Alliance program (which total order intake
    represents above 170 million euros since its inception).

The Reactors & Services BG reported sales revenue of 3.452 billion euros in
2012, a 7.1% increase (+5.5% like for like). Foreign exchange had a positive
impact of 56 million euros. The negative impact from changes in consolidation
scope linked to the disposal of 01-dB Metravib at the end of 2011 was largely
offset by the positive impact of the operations transferred from the Fuel BU.
Overall, the negative impact was 8 million euros.

  *The New Builds business evolved in accordance with the schedule for
    completion of major reactor construction projects. Related sales revenue
    was down on account of the stage of completion of the EPR reactor
    construction projects Olkiluoto in Finland and Flamanville in France, and
    due to the accounting adjustment to sales revenue made for the Finnish
    project (as implied by the provision recorded in the first half of 2012).
    The contribution from the two EPR reactors under construction at Taishan
    in China and from engineering work carried out for the Hinkley Point EPR
    project in the United Kingdom increased over the period.
  *Installed Base services grew on a strong level of activity in France and
    the United States, offsetting a decline in activity in Germany and the
    accounting impact on sales revenue implied by the additional provision
    recorded at the end of 2012 for a power plant modernization project.
  *Sales revenue from the Equipment business rose due to strong primary
    component replacement contracts in France.
  *The Nuclear Measurements business benefited from growing demand for
    radioactivity measurement systems in Japan over the period.

Back End Business Group

The Back End BG had 6.030 billion euros in backlog at December 31, 2012, a
3.8% decrease compared with the end of 2011. Contracts won in 2012 include:

  *a contract with a foreign customer for the supply of MOX fuel assemblies;
  *a contract with EDF for the treatment and shipment of used fuel assemblies
    and related services in 2013, pending finalization of a multiyear contract
    for the 2013-2017 period;
  *several contracts with US utilities in the Logistics business.

The Back End BG reported sales revenue of 1.732 billion euros in 2012, an
increase of 9.5% compared with the same period in 2011 (+8.6% like for like).
Foreign exchange had a positive impact of 12 million euros.

  *The increased Recycling business from high production levels at the La
    Hague and Melox plants offset a shift of deliveries from the end of 2012
    to 2013.
  *The Nuclear Site Value Development business, which had recognized sales in
    2011 associated with the supply of a solution to treat contaminated water
    at the Fukushima Daiichi sit, was down.
  *Business grew for the International Projects BU, created in 2012 to meet
    demand for recycling technologies from foreign customers, particularly in
    the United States, the United Kingdom and Japan.

Renewable Energies Business Group

The Renewable Energies BG had 844 million euros in backlog at December 31,
2012, a 52.6% decrease in relation to the end of 2011; this was due to
contract execution, the cancellation of certain orders in the Bioenergies
business in Brazil, and the absence of any significant new orders.
Nonetheless, a contract was signed by AREVA and its local partner ENSYS with
U-Thong Bio Power, an independent power producer in Thailand, for the
construction of a biomass power plant.

Sales revenue reported by the Renewable Energies BG was sharply up compared
with 2011 to 572 million euros for the year (+92.3% in reported data and
+94.0% like for like).

  *Sales revenue from the Offshore Wind business was up sharply with the
    progress of the GlobalTech I and Borkum West II projects in Germany.
  *Sales revenue in the Bioenergies BU was up due to business deployment in
    Europe and Brazil.
  *Sales revenue in the Solar business grew as CSP power plant construction
    projects were deployed at Kogan Creek in Australia and for Reliance in
    India.

Appendix – Consolidated revenue

In million euros           2012     2011^1    2012/2011  2012/2011
                                                     change      change
                                           in %       in % like for
                                                                 like
1^st quarter
Mining                      313         280          +11.9%      +6.5%
Front End                   432         522          -17.2%      -18.4%
Reactors & Services         774         729          +6.2%       +6.4%
Back End                   371      365       +1.7%      +1.4%
Renewable Energies         85       29        +198.2%    +199.8%
Corporate and other        50       54        ns         ns
operations^2
Total                      2,026    1,979     +2.4%      +1.3%
2^nd quarter
Mining                      333         234          +42.0%      +33.5%
Front End                   475         392          +21.4%      +18.1%
Reactors & Services         858         853          +0.5%       -0.6%
Back End                   428      457       -6.4%      -7.4%
Renewable Energies         167      30        +450.0%    +463.0%
Corporate and other        42       52        ns         ns
operations^2
Total                      2,303    2,018     +14.1%     +11.9%
3^rd quarter
Mining                      387         272          +42.2%      +46.6%
Front End                   412         552          -25.4%      -27.6%
Reactors & Services         804         779          +3.1%       +2.5%
Back End                   421      253       +66.0%     +62.9%
Renewable Energies         145      50        +190.9%    +197.6%
Corporate and other        45       46        ns         ns
operations^2
Total                      2,214    1,953     +13.4%     +12.4%
4^th quarter
Mining                      327         502          -34.9%      -33.4%
Front End                   730         817          -10.7%      -7.7%
Reactors & Services         1,017       863          +17.9%      +13.2%
Back End                   513      507       +1.1%      +0.8%
Renewable Energies         174      188       -7.6%      -7.3%
Corporate and other        39       45        ns         ns
operations^1
Total                      2,799    2,922     -4.2%      -4.1%
Total 2012
Mining                      1,360       1,289        +5.5%       +4.8%
Front End                   2,049       2,283        -10.2%      -10.5%
Reactors & Services         3,452       3,224        +7.1%       +5.5%
Back End                   1,732    1,582     +9.5%      +8.6%
Renewable Energies         572      297       +92.3%     +94.0%
Corporate and other        176      197       ns         ns
operations^2
Total                      9,342    8,872     +5.3%      +4.4%

^1 Sales revenue for 2011 was adjusted to integrate the Engineering & Projects
activity in Corporate / Other
^2 Includes the activities of Information Systems Consulting and Engineering &
Projects (the Engineering & Projects department contributed €39m to nuclear
sales revenue in 2012 and €49m in 2011)

Note:

► Like for like / LFL: at constant exchange rates and consolidation scope.

► Foreign exchange impact:

The foreign exchange impact mentioned in this release comes from the
translation of subsidiary accounts into the group’s unit of account. The
latter is primarily due to changes in the US dollar in relation to the euro.
AREVA also points out that its foreign exchange hedging policy for commercial
operations aims to shield profitability from fluctuations in exchange rates in
relation to the euro.

► Forward-looking statements

This document contains forward-looking statements and information. These
statements include financial forecasts and estimates as well as the
assumptions on which they are based, and statements related to projects,
objectives and expectations concerning future operations, products and
services or future performance. Although AREVA’s management believes that
these forward-looking statements are reasonable, AREVA’s investors and
shareholders are hereby advised that these forward-looking statements are
subject to numerous risks and uncertainties that are difficult to foresee and
generally beyond AREVA’s control, which may mean that the expected results and
developments differ significantly from those expressed, induced or forecast in
the forward-looking statements and information. These risks include those
explained or identified in the public documents filed by AREVA with the AMF,
including those listed in the “Risk Factors” section of the Reference Document
registered with the AMF on 03/29/12 and updated with the 2012 half-year report
(which may be read online on AREVA’s website www.areva.com). AREVA makes no
commitment to update the forward-looking statements and information, except as
required by applicable laws and regulations.

Upcoming events and publications
February 28, 2013 – 17:45 CEST   Press release, conference and webcast
                                   2012 annual results
April 25, 2013 – 17:45 CEST        Press release
                                   2013 first quarter sales revenue and
                                   related information
May 7, 2013 – 15:30 CEST           Combined Annual General Meeting of
                                   shareholders
                                   Salle Wagram – 75017 Paris


ABOUT AREVA

AREVA supplies solutions for power generation with less carbon. Its expertise
and unwavering insistence on safety, security, transparency and ethics are
setting the standard, and its responsible development is anchored in a process
of continuous improvement.

Ranked first in the global nuclear power industry, AREVA’s unique integrated
offering to utilities covers every stage of the fuel cycle, nuclear reactor
design and construction, and related services. The group is also expanding its
operations to renewable energies – wind, solar, bioenergies, hydrogen and
storage – to be one of the leaders in this sector worldwide.

With these two major offers, AREVA’s 48,000 employees are helping to supply
ever safer, cleaner and more economical energy to the greatest number of
people.

^1 The spot price indicator went from 51.90 USD/lb. at the end of 2011 to
43.40 USD/lb. at the end of 2012; the long-term price indicator went from
62.00 USD/lb. at the end of 2011 to 56.50 USD/lb. at the end of 2012 – Source:
UxC / TradeTech

Contact:

Press Office
Julien Duperray
Katherine Berezowskyj
Vincent Kempkes
Jérôme Rosso
Alexandre Thébault
T: +33 (0) 1-3496-1215
F: +33 (0) 1-3496-1654
press@areva.com
or
Investor Relations
Marie de Scorbiac, +33 (0) 1-3496-0597
marie.descorbiac@areva.com
or
Philippine du Repaire, +33 (0) 1-3496-1151
philippine.durepaire@areva.com
 
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