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Areva post net loss of 2 billion euros, secures 1.1 billion euros in loan

Staff writer ▼ | February 27, 2016
Nuclear company Areva posted a net loss for 2015 of 2 billion euros ($2.2 billion), having delayed the earnings report by a day to finalise a 1.1 billion euro bridging loan from six banks.
Areva   Operating income was - €1.388 bn
Areva reported backlog of €29 bn, revenue of €4.199 bn (vs. €3.954 bn in 2014, + 1.9% LFL), and EBITDA of €685 m (vs. €471 m in 2014).

Chief executive officer Philippe Knoche said: "The 2015 results illustrate the progress we have made this year and open up favorable prospects for 2016 and the following years in view of our fundamentals.

"The group’s competitiveness plan had a very positive impact on costs and cash, despite the heavy net loss situation which continues and in a market environment that remained difficult in 2015.

"Half of this loss of 2 billion euros is due to additional provisions for OL3 and half to provisions for restructuring and impairment related to market conditions. Concerning the group’s liquidity, 2016 is funded and the capital increase which will be launched in the coming months will enable us to gradually regain the group’s positive profile.

"A new phase awaits us in 2016, one we can enter with clarity and confidence in the implementation of the restructuring announced in 2015 and in particular the autonomy of Areva NP and the creation of New Areva."

Operating income was - €1.388 bn (vs. - €2.115 bn in 2014), net income attributable to owners of the parent - €2.038 bn (vs. - €4.833 bn in 2014), and operating cash flow €297 m (vs. - €579 m in 2014).

Net cash flow from company operations was - €590 m (vs. - €1.282 bn in 2014), and net debt - €6.323 bn (vs. - €5.809 bn in 2014).