Areva Profit More Than Doubles as Fukushima Prompted Cost Cuts
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Areva SA, the world’s biggest supplier of nuclear fuel and services, reported earnings that more than doubled in 2012 as sales rose and the company slashed costs following the 2011 nuclear accident in Japan.
Earnings before interest, taxes, depreciation and amortization, excluding one-time items, rose to 1.01 billion euros ($1.32 billion) from 421 million euros a year earlier, Paris-based Areva said today. The net loss shrank to 99 million euros from 2.5 billion euros as Areva sold 1.2 billion euros of assets and booked fewer charges and writedowns.