Revenue at 09/30/2013: Robust Growth
October 24, 2013
At September 30, 2013:
- Backlog of €42bn
- Robust revenue growth to €6.847bn: +4.7% vs. Sept. 2012 (+7.6% like for like)
- Strong organic growth (+9.9%) in the nuclear operations
Luc Oursel, Chief Executive Officer, offered the following comments on the group’s performance in the first nine months of 2013:
"After a remarkable first half and as anticipated, our third quarter revenue was stable in the nuclear operations compared with the third quarter of 2012. Globally, our nuclear operations generated organic growth of 10% in the first nine months of 2013. This performance demonstrates the strength of our commercial positions in the installed base market, where we continue to innovate while improving our competitiveness. The success of our integrated offers and of our Safety Alliance and Forward Alliance programs are perfect examples of this. Moreover, agreements signed for the EDF project at Hinkley Point strengthen our position in the new builds market and bolster the credibility of our EPR™ offers to other customers.
In the Renewable Energies BG, revenue is below our Action 2016 plan outlook, mainly due to the current indecisiveness in the renewable markets.
Based on our performance over the past nine months, we confirm our revenue outlook for our business as a whole in 2013."
AREVA generated consolidated revenue of 6.847 billion euros in the first nine months of 2013, representing growth of 4.7% (+7.6% like for like) compared with the same period in 2012. Revenue growth was fueled by a 7.7% increase in recurring business (+11.0% like for like).
Revenue from nuclear operations was 6.453 billion euros in the first nine months of 2013, compared with 6.035 billion euros in the first nine months of 2012, a 6.9% increase (+9.9% like for like). Revenue was led by growth in all nuclear Business Groups (BG): the Mining BG (+31.8% like for like), the Front End BG (+9.8% like for like), the Reactors & Services BG (+1.5% like for like) and the Back End BG (+10.3% like for like). Revenue fell 24.6% like for like in the renewable operations.
Foreign exchange had a negative impact of 71 million euros during the period. The change in consolidation scope had a negative impact of 106 million euros.
In the third quarter of 2013 revenue was 2.084 billion euros, a decrease of 5.8% (-3.0% like for like) compared with the third quarter of 2012. Foreign exchange had a negative impact of 42 million euros during the period, while the change in consolidation scope had a negative impact of 23 million euros. Nuclear operations had revenue of 1.976 billion euros in the third quarter of 2013, essentially unchanged from the third quarter of 2012 (+0.2% like for like).
In France, revenue rose 12% in the first nine months of 2013 compared with the first nine months of 2012, to 2.725 billion euros. Over the same period, revenue from international operations was 4.122 billion euros, stable compared with the first nine months of 2012, which benefited from strong business in the United States.
The consolidated backlog was 42.018 billion euros at September 30, 2013, down 10.6% from 47.020 billion euros at September 30, 2012, when backlog on nuclear and renewable energies scope was at a record level, and down 3.4% in relation to June 30, 2013 (43.494 billion euros). It does not include order intakes related to the agreements recently signed with EDF group for the EPRTM project in Hinkley Point.
No significant order cancellation subsequent to the Fukushima accident was recorded in the third quarter of 2013.
(1) Excluding revenues from New Builds and International Projects BU’s and Renewable Energies BG
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