Areva Posts 2.04 Billion-Euro Loss on Finnish Project

Areva SA, the French nuclear group planning a 5 billion-euro ($5.5 billion) capital increase by the first quarter of 2017 to stay afloat, posted a fifth year of losses in 2015 as it made new provisions for the completion of an atomic plant in Finland and wrote down the value of assets.

The company, 87 percent owned by the French government, had a net loss of 2.04 billion euros in 2015 after a loss of 4.83 billion euros a year earlier, the company based near Paris said Friday in a statement. It took a 905 million-euro charge related to the Finnish power station project due to extra operating costs and the “probable impact” of further discussions with the customer to settle the disputes over the project and bring it to completion.