French nuclear group Areva beats profit forecasts

CIVIL NUCLEAR

by Staff Writers
Paris (AFP) Feb 26, 2008
French nuclear giant Areva said Tuesday its 2007 net profit rose 14.5 percent as chairwoman Anne Lauvergeon again called on the state-owned company to be opened up to outside investors.

Areva, the world's largest nuclear power company, said net profit last year came to 743 million euros (1.1 billion dollars), above analyst forecasts of 709.5 million euros, while operating profit jumped 84.5 percent to 751 million euros.

Lauvergeon, citing the results, said they reflected Areva's "durable and profitable growth" which made the company "perfectly suitable for opening up to outside capital."

Lauvergeon insisted that she had nothing against mergers per se, even as the government reviews its future, including a tie-up with French engineering group Alstom.

However, with Alstom, "the industrial synergies are limited," she said.

For 2008, Areva said it expected further gains in its order book, sales and operating profit.

Under its 2008-2012 strategic plan the company is aiming for annual sales of more than 20 billion euros, compared with 11.92 billion euros last year.

Areva is 85 percent owned by the state.

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CIVIL NUCLEAR

Argentina, Brazil to build joint uranium enrichment plant

Buenos Aires (AFP) Feb 22, 2008
Presidents Cristina Kirchner, of Argentina, and Luiz Inacio Lula da Silva, of Brazil, on Friday agreed to set up a joint uranium enrichment company to build a power-generating nuclear reactor to serve both countries.

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