Areva sales up in first quarter, to review forecasts

2nd May 2011, Comments 0 comments

French nuclear group Areva on Monday reported a 2.2 percent increase in first-quarter sales to 1.98 billion euros ($2.9 billion) and said it was reviewing its 2011 and 2012 forecasts in light of Japan's nuclear energy disaster.

Areva said the growth was driven by the nearly 19 percent growth in sales by its mining unit compared to the first quarter of 2010, while sales in the reactor and services group slid 4.7 percent and renewable energies by 13.9 percent.

The company said disaster at Japan's Fukushima nuclear power plant following the March 11 earthquake and tsunami didn't have any impact on its first quarter sales but "altered the environment in which it prepared its financial forecasts for 2011 and 2012 ... making them irrelevant."

Areva said it "has undertaken a review of their impacts on its operations, and consequently on its forecasts."

A number of countries have begun reviews of their nuclear energy policies in light of the Fukushima accident, with a number of Areva projects to face possible delays or cancellations.

Previously the company had been expecting a significant increases in orders and sales, targetting 12 billion euros in sales in 2012 following the 9.1 billion booked in 2010.

© 2011 AFP

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