Progress Report on the Financial Outlook for 2015 and on AREVA’s Financing Plan

PARIS--()--Regulatory News:

The AREVA (Paris:AREVA) Board of Directors met today to examine the group’s financial outlook for 2015:

  • Net cash flow from operating activities1, initially expected to fall within the range of -1.7 billion euros and -1.3 billion euros, is now expected to be about -1.2 billion euros, excluding the competitiveness plan and related implementation costs, i.e. about -0.9 billion euros including net savings already been generated by the plan.
  • Efforts to preserve cash enabled the group to foresee a postponement of drawing on its credit lines to early 2016, versus the 3rd quarter of 2015 as previously anticipated.
  • Net income will show a heavy loss, impacted by the provision for restructuring announced on July 30 and by a supplemental provision for losses at completion in the Reactors & Services operations and for wind and solar projects.

The Board of Directors also reviewed the financial component of the group’s transformation plan:

  • The group’s restructuring and the related financing plan will be specified during the publication of 2015 results at the latest.
  • Negotiations with EDF pertaining to the sale of a majority share of AREVA NP are making progress, with a view to a conclusion in the early part of next year.
  • In addition, concerning the process to sell Canberra, firm offers will be submitted before the end of the year for a planned sale in 2016.
  • Lastly, consistent with AREVA’s strategy of refocusing on cycle operations, the group and its shareholders have begun discussions on the sale of AREVA TA while preserving the integrity of its operations. Based on the scenario currently being examined, the State would become the direct majority shareholder alongside other existing shareholders interested in this. This proposal is in the preliminary stage. It would require dialogue with the social bodies and approval by AREVA's governing bodies.

Upcoming events and publications

February 25, 2016 - 07:30:00 AM CET: Press release - 2015 revenue and annual results

MORE ABOUT AREVA

AREVA supplies high added-value products and services to support the operation of the global nuclear fleet.
The company is present throughout the entire nuclear cycle, from uranium mining to used fuel recycling, including nuclear reactor design and operating services.
AREVA is recognized by utilities around the world for its expertise, its skills in cutting-edge technologies and its dedication to the highest level of safety.
AREVA’s 41,000 employees are helping build tomorrow’s energy model: supplying ever safer, cleaner and more economical energy to the greatest number of people.

Tour AREVA – 1 Place Jean Millier – 92400 COURBEVOIE – France – Tel : +33 (0)1 34 96 00 00 – Fax : +33 (0)1 34 96 00 01

1 Data at constant consolidation scope and foreign exchange, excluding the impact of asset disposals, equity-based transactions and refinancing

Contacts

Press Office
T: +33 (0)1 34 96 12 15
press@areva.com
or
Investor Relations
Manuel Lachaux
manuel.lachaux@areva.com
T: +33 (0)1 34 96 11 53
Anne-Sophie Jugean
anne-sophie.jugean@areva.com
T: +33 (0)1 34 96 62 41

Release Summary

Progress report on the financial outlook for 2015 and on AREVA’s financing plan

Contacts

Press Office
T: +33 (0)1 34 96 12 15
press@areva.com
or
Investor Relations
Manuel Lachaux
manuel.lachaux@areva.com
T: +33 (0)1 34 96 11 53
Anne-Sophie Jugean
anne-sophie.jugean@areva.com
T: +33 (0)1 34 96 62 41