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AREVA Announces 2011 Annual results - The Supervisory Board of AREVA met under the chairmanship of Jean-Cyril Spinetta to examine the financial statements submitted by the Executive Board for the year ended December 31, 2011 - AREVA.com
AREVA Announces 2011 Annual results

 

NewswireToday - /newswire/ - Paris, France, 2012/03/01 - The Supervisory Board of AREVA met under the chairmanship of Jean-Cyril Spinetta to examine the financial statements submitted by the Executive Board for the year ended December 31, 2011 - AREVA.com.

   
 
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• Backlog: €45.6bn, +3.1% vs. 2010, i.e +6.7% over 3 months;
• Revenue: €8.872bn, i.e -2.6% vs. 2010;
• Operating income: -€1.923bn;
• Net income attributable to equity owners of the parent: -€2.424bn;
• EBITDA: €1.068bn (€420m excluding Siemens impact1);
• Free operating cash flow before tax: -€2.397bn (-€1.366bn excluding Siemens impacts2), improvement over the second half;
• Decrease in net debt of €124m for the year;
• Significant drop in general and administrative expenses, with a noticeable reduction between the first and the second half;
• Launch of several disposals of minority interests.

The Supervisory Board of AREVA met today under the chairmanship of Jean-Cyril Spinetta to examine the financial statements submitted by the Executive Board for the year ended December 31, 2011.

Concerning the results, Luc Oursel, Chief Executive Officer, stated: “Our backlog established at 45.6 billion euros at the end of 2011, significantly increasing at the end of a year marked by the Fukushima accident, confirms the commercial dynamism of the group alongside its customers and reinforces the visibility on its future business level.

In a difficult context, the slight decline in revenue in 2011 demonstrates the robustness of AREVA’s integrated model, resting mainly on recurring business generated in relation to our customers’ nuclear installed base, and benefiting from the development of our renewable energies operations.

Free operating cash flow before tax, although down over the whole year in 2011, improved in the second half, showing the first effects of AREVA’s stronger focus on cash generation and debt management.

After the success of our bond issue in September 2011, the Group’s liquidity remains high at the end of 2011.

The AREVA teams are now dedicating all of their efforts to the deployment of the "Action 2016” strategic action plan, which had already yielded its first positive results at the end of 2011, with an improvement in the cost structure of our operations, an increase in order intake, and the launch of several disposals of minority interests.”

1 Transactions with Siemens had an impact on EBITDA of 648 million euros in 2011 (penalty received from Siemens).

2 Transactions with Siemens had a net impact of -1.031 billion euros on free operating cash flow before tax (648 million euros penalty received from Siemens, less 1.679 billion euros paid to acquire AREVA NP shares).

AREVA Investors Relations:
Philippine du Repaire, T: +33(0) 1 34 96 11 51 - E: philippine.durepaire[.]areva.com.

 
 
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Written by / Agency / Source: AREVA | Orano Group

 
 

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AREVA Announces 2011 Annual results

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