Posted in | Uranium | Earnings

Areva Revenue Up On Mining Business

French company Areva announced 2 billion euro worth of sales in the first quarter in a statement on Monday. This is 2.2% higher than the same quarter last year. The rising prices of uranium have undoubtedly contributed to the mining and enrichment business of the company.

The other divisions of the company including its reactor building and nuclear waste treatment operations, saw sales decline during the first quarter. Renewable energies and reactors and services fell by 13.9 % and 4.7 % each.

However the company is still reviewing the impact of the disaster at the Fukushima Dai-ichi nuclear power plant in Japan this March. The disaster has not seemed to have an effect on the company’s first quarter results for 2011.

The forecasts for 2011 and 2012 are currently under review by the state run company. As per the statement there was a 18.9% growth in mining activities which had been witnessed by the company. The Avera statement said that this was due to a favourable contract mix that yielded a significant improvement in their average uranium sales price over the quarter.

The revenues generated outside France rose by 12% to 1.22 billion Euros for Avera while the domestic revenues declined by 10 % to 758 million Euros. The revenue generated outside the country represented 62% of the total revenue for the company.

Tell Us What You Think

Do you have a review, update or anything you would like to add to this news story?

Leave your feedback