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France: AREVA Announces Q1 Revenues Up by 2.4 pct

April 27, 2012

France: AREVA Announces Q1 Revenues Up by 2.4 pct

AREVA generated consolidated revenue of 2.026 billion euros in the first quarter of 2012, up 2.4% (+1.3% like for like) compared with the same period in 2011.

The increase in revenue in the Mining Business Group (+11.9% reported, +6.5% like for like), the Reactors & Services Business Group (+5.8% reported, +6.0% like for like) and the Renewable Energies Business Group (+198.2% reported, +199.8% like for like) offsets the expected decrease in revenue in the Front End Business Group (-17.2% reported, -18.3% like for like). Foreign exchange had a positive impact of 29 million euros over the period, while changes in consolidation scope had a negative impact of 8 million euros.

The Group had 45.1 billion euros in backlog at March 31, 2012, up 3.7% in relation to March 31, 2011 and down slightly (-1.0%) from December 31, 2011. Backlog growth in the Front End, Reactors & Services and Back End Business Groups offsets the decrease in backlog in the Mining and Renewable Energies Business Groups. Order cancellations as a result of the Fukushima accident totaled 612 million euros at March 31, 2012, compared with 464 million euros at December 31, 2011.

Renewable Energies Business Group

The Renewable Energies BG had 1.706 billion euros in backlog at March 31, 2012, a year-on-year decrease of 8.4%. Significant new contracts in the first quarter include a contract signed by AREVA and its local partner ENSYS with Y-Thong Bio Power, an independent Thai utility, to build a biomass power plant in Suphan Buri Province in northwestern Thailand.

The Renewable Energies BG reported revenue of 85 million euros in the first quarter of 2012, an increase of 198.2% in reported data and of 199.8% like for like compared with the same period in 2011.

Offshore Wind revenue was up sharply, reflecting the ramp-up of production.Solar revenue benefited from the launch of the Kogan Creek project in Australia and the Reliance project in India.

[mappress]

Offshore WIND staff, April 27, 2012; Image: areva