- AREVA presented its 2008 annual results, reporting revenue growth of 10.4% but a decline in net income due to provisions for the Olkiluoto-3 nuclear project.
- Key highlights included a 21.1% increase in backlog to €48.2 billion and the signing of over €10 billion in new contracts.
- While divisions such as Front End and Reactors & Services saw increased revenue and profits, earnings were hurt by higher OL3 provisions and losses in other areas.
- The company outlined its strategic priorities of growing its business while maintaining financial strength through cost reductions and asset sales.
AREVA, Business & strategy overview - Appendix 1 - November 2009AREVA
The document provides an overview of AREVA's business and strategy. It includes financial data for 2008 and the first half of 2009, including revenue, operating income, net income, cash flow, debt, and key figures by business division. Performance declined in 2009 due to lower revenue and additional provisions for the OL3 project.
This document provides an overview and summary of Generali Group's 1Q 2009 financial results. It includes sections on key highlights, profit and loss review, shareholders' equity, and life and property & casualty profitability. The results show a 12.7% decrease in operating result compared to 1Q 2008 and an 88.6% decrease in net result. Shareholders' equity decreased slightly by 2.7%. Both life and P&C segments saw decreases in operating results compared to the previous year.
The document summarizes SKF Group's 9-month results for 2009. Key points include:
- Sales volumes dropped significantly year-over-year due to the economic downturn but price/mix increased.
- Strong cash flow generation despite lower sales.
- Cost reduction efforts through restructuring programs resulted in annual savings of SEK 800 million.
- Operating margins declined from prior years but were higher excluding restructuring costs.
- The document discusses Veolia Environnement's 2010 annual shareholders' meeting and 2009 financial results.
- In 2009, Veolia's revenue declined 1.7% to €34.55 billion due to falling waste volumes and prices. However, operating cash flow margin was maintained at 11.5%.
- Veolia's waste division revenue fell 9.2% in 2009 but cost cutting measures improved profitability throughout the year, with operating cash flow margin reaching 13.2%.
The document discusses several non-GAAP financial measures used by Duke Energy to measure performance, including:
1) Ongoing diluted EPS, which adjusts reported diluted EPS from continuing operations for special items to measure performance against employee incentive targets.
2) Anticipated ongoing EPS growth percentages, which adjust diluted EPS from continuing operations for special items to forecast future EPS growth.
3) Ongoing segment EBIT, which adjusts reported segment EBIT for special items to forecast performance at the business segment level.
Reconciliations of these non-GAAP measures to the most directly comparable GAAP measures are not provided due to the inability to forecast special items.
Merrill lynch russia metals & mining investor fieldtrip 310709evraz_company
Evraz Group presented its business highlights for 2008 and the first half of 2009. Key points include:
1) In 2008, Evraz expanded its presence in international flat and tubular markets through strategic acquisitions in North America, grew its vanadium segment revenues and EBITDA, and enhanced its cost leadership position.
2) For H1 2009, Evraz reduced its debt by $1.5 billion from year-end 2008 levels and raised $965 million through a concurrent equity and convertible bond offering in July 2009.
3) Evraz has implemented extensive cost reduction programs and optimised capital expenditures to maintain production through 2009-2010 at lower costs despite difficult market conditions. Capacity utilization
The document summarizes Veolia Environnement's first half 2009 results. Key points include operating cash flow of €1.978 million, a decline in recurring operating income of 22.2% due to the economic environment, and progress on their 2010 Efficiency Plan and asset disposal program. Veolia maintains their commitments for 2009 and continues developing the Group through contracts and strategic transactions.
- Veolia Environnement reported 2008 revenue of €36.2 billion, up 15.8% at constant exchange rates from 2007. Operating cash flow was €4.1 billion, up 2% at constant exchange rates.
- Recurring operating income before writedowns was €2.3 billion, down 1.4% due to lower performance in waste management in Q4 2008. Net income attributable to shareholders was €405 million.
- Priorities for 2009 include improving profitability of recent acquisitions, cost reduction plans, and generating €2 billion in investments through strategic asset reviews and positive free cash flow.
AREVA, Business & strategy overview - Appendix 1 - November 2009AREVA
The document provides an overview of AREVA's business and strategy. It includes financial data for 2008 and the first half of 2009, including revenue, operating income, net income, cash flow, debt, and key figures by business division. Performance declined in 2009 due to lower revenue and additional provisions for the OL3 project.
This document provides an overview and summary of Generali Group's 1Q 2009 financial results. It includes sections on key highlights, profit and loss review, shareholders' equity, and life and property & casualty profitability. The results show a 12.7% decrease in operating result compared to 1Q 2008 and an 88.6% decrease in net result. Shareholders' equity decreased slightly by 2.7%. Both life and P&C segments saw decreases in operating results compared to the previous year.
The document summarizes SKF Group's 9-month results for 2009. Key points include:
- Sales volumes dropped significantly year-over-year due to the economic downturn but price/mix increased.
- Strong cash flow generation despite lower sales.
- Cost reduction efforts through restructuring programs resulted in annual savings of SEK 800 million.
- Operating margins declined from prior years but were higher excluding restructuring costs.
- The document discusses Veolia Environnement's 2010 annual shareholders' meeting and 2009 financial results.
- In 2009, Veolia's revenue declined 1.7% to €34.55 billion due to falling waste volumes and prices. However, operating cash flow margin was maintained at 11.5%.
- Veolia's waste division revenue fell 9.2% in 2009 but cost cutting measures improved profitability throughout the year, with operating cash flow margin reaching 13.2%.
The document discusses several non-GAAP financial measures used by Duke Energy to measure performance, including:
1) Ongoing diluted EPS, which adjusts reported diluted EPS from continuing operations for special items to measure performance against employee incentive targets.
2) Anticipated ongoing EPS growth percentages, which adjust diluted EPS from continuing operations for special items to forecast future EPS growth.
3) Ongoing segment EBIT, which adjusts reported segment EBIT for special items to forecast performance at the business segment level.
Reconciliations of these non-GAAP measures to the most directly comparable GAAP measures are not provided due to the inability to forecast special items.
Merrill lynch russia metals & mining investor fieldtrip 310709evraz_company
Evraz Group presented its business highlights for 2008 and the first half of 2009. Key points include:
1) In 2008, Evraz expanded its presence in international flat and tubular markets through strategic acquisitions in North America, grew its vanadium segment revenues and EBITDA, and enhanced its cost leadership position.
2) For H1 2009, Evraz reduced its debt by $1.5 billion from year-end 2008 levels and raised $965 million through a concurrent equity and convertible bond offering in July 2009.
3) Evraz has implemented extensive cost reduction programs and optimised capital expenditures to maintain production through 2009-2010 at lower costs despite difficult market conditions. Capacity utilization
The document summarizes Veolia Environnement's first half 2009 results. Key points include operating cash flow of €1.978 million, a decline in recurring operating income of 22.2% due to the economic environment, and progress on their 2010 Efficiency Plan and asset disposal program. Veolia maintains their commitments for 2009 and continues developing the Group through contracts and strategic transactions.
- Veolia Environnement reported 2008 revenue of €36.2 billion, up 15.8% at constant exchange rates from 2007. Operating cash flow was €4.1 billion, up 2% at constant exchange rates.
- Recurring operating income before writedowns was €2.3 billion, down 1.4% due to lower performance in waste management in Q4 2008. Net income attributable to shareholders was €405 million.
- Priorities for 2009 include improving profitability of recent acquisitions, cost reduction plans, and generating €2 billion in investments through strategic asset reviews and positive free cash flow.
ежегодная конференция Bcp securities для инвесторов москва, 100609evraz_company
Evraz Group is a leading global steel and mining company. In 2008, the company expanded its presence in international markets through acquisitions and organic growth. While revenue increased 58% due to strategic acquisitions and pricing trends, net profit declined 11% due to extraordinary charges. Looking ahead, Evraz aims to enhance its leadership position and cost advantage through further vertical integration and cost reduction initiatives.
1) Veolia Environnement reported revenue of €34.78 billion in 2010, an increase of 2.5% from 2009. Adjusted operating income rose 8.5% to €2.06 billion.
2) By division, Environmental Services saw the largest revenue growth at 6.9% excluding foreign exchange and scope impacts, while Water declined 2.9% on the same basis.
3) Net financial debt remained stable at €15.22 billion in 2010 compared to €15.13 billion in 2009. Cash flow from operations increased 4.6% to €3.74 billion.
The SKF Group reported record quarterly cash flow in Q2 2009 despite a dramatic 30.8% drop in sales volume from the previous year. SKF implemented cost reduction efforts including restructuring programs that achieved annual savings of around SEK 800 million. Demand outlook for Q3 2009 is expected to be significantly lower than the previous year but leveling off sequentially.
This document provides an overview of EVRAZ Group, a major steel and mining company. Some key points:
- EVRAZ is one of the largest steel producers globally and the leader in the Russian/CIS markets. It produces over 17 million tons of crude steel annually.
- In 1H 2009, revenue decreased 57% to $4.6 billion due to lower prices and sales volumes. However, cost cutting measures helped reduce costs.
- EVRAZ has focused on optimizing production, reducing costs, decreasing capex, and actively managing working capital to improve its financial position in the difficult market environment.
- Recent capital market activities raised $965 million in new funds to further strengthen
Iochpe-Maxion S.A reported financial results for the fourth quarter and full year of 2007. Net revenue increased 23.9% in 4Q07 and 3.3% for the full year. EBITDA grew 47.8% in 4Q07 and 1.1% for the full year. Net income increased 1,129.0% in 4Q07 and 25.1% for the full year. The results were driven by growth in the Brazilian vehicle and agricultural machinery industries as well as recovery in domestic demand for railway freight cars. Foreign exchange impacts from currency appreciation reduced revenues compared to prior periods.
The document summarizes Q4 highlights for a group. Key points include:
- Revenue was NOK 1,917 million, a 10% increase year-over-year. EBITA was NOK 168 million, a 12% increase.
- A cost program secured a sustainable margin and the Bank & Finance segment continued to outperform the market. New signings were NOK 1.4 billion, a 64% increase year-over-year.
- For 2009, revenue decreased 5% in line with market trends. EBITA was NOK 603 million, a 17% decrease, but order backlog secured visibility through 2013.
Credit suisse global steel & mining conference, 22 23 сентября 2010evraz_company
1) Evraz reported a 38% increase in revenue and a 147% increase in adjusted EBITDA for the first half of 2010 compared to the same period in 2009, driven by higher sales volumes and prices.
2) Cost of revenue increased 23% due to higher prices for raw materials like scrap, coking coal, and iron ore, though Evraz's vertical integration helped offset costs.
3) Evraz refinanced some short-term debt and issued bonds to improve its debt maturity profile, reducing short-term debt from 46% to 22% of total debt.
This presentation provides an overview of Hindalco Industries' financial and operational performance in fiscal year 2012. Some key points:
- Hindalco achieved strong financial results despite severe cost pressures from rising coal, fuel, and input costs. Its portfolio strategy helped as upstream aluminum business faced margin squeeze.
- Major projects like the Utkal alumina refinery, Mahan smelter and CPP, Aditya smelter and CPP, and Hirakud FRP plant are in advanced construction stages.
- Hindalco strengthened its financing through a large NCD offering and preferential warrant allotment to its promoter.
- The aluminum and copper businesses delivered improved production efficiencies and volumes compared
- Operating revenue for the quarter ended March 31, 2006 was Rs. 278 crore, up 34% from the previous quarter and 26% from the same quarter last year. Total revenue was Rs. 279 crore, up 32% and 25% respectively.
- Operating profit for the quarter was Rs. 16.6 crore, up 37% from the previous quarter. Profit before tax was Rs. 14.3 crore, up 8% from last quarter. Profit after tax was Rs. 9.9 crore, down 18% from last quarter.
- Manpower productivity improved 18% from the previous quarter.
Veolia Environmental Services reported a 9.2% decline in revenue to €9,056 million in 2009. The revenue decline was driven by decreases in waste volumes, prices and volumes of recycled materials, partially offset by a rise in service prices. Revenue stabilized in the fourth quarter of 2009 at constant consolidation scope and foreign exchange rates compared to the same period in 2008. Operating cash flow declined 10.3% to €1,194 million due to lower waste volumes and prices for recycled materials.
0 koon financial analysis-final editionafterrefloat
The document discusses Koon Holdings Limited, a Singapore-based investment holding company with expertise in infrastructure construction, plant and equipment rental, and precast concrete works. It provides an overview of Koon's financial performance, industry and competitors, as well as recommendations to leverage its competitive strengths such as an experienced management team and wide range of products and services to capitalize on industry opportunities like upcoming public construction projects.
презентация для инвесторов, август 2011evraz_company
This corporate presentation provides an overview of Evraz Group, one of the largest vertically integrated steel and mining companies in the world. In 2010, Evraz saw significant growth in revenues and EBITDA due to strong market recovery, with both prices and volumes contributing to increased revenue. While steel products remain the predominant source of revenue, EBITDA is increasingly generated by the mining segment due to higher growth in iron ore and coking coal prices. The presentation discusses Evraz's financial and operational performance in 2010 and the first half of 2011, with a focus on costs, cash flow generation, debt maturity, and market performance in key regions.
The interim report summarizes the company's financial results for January-June 2011. Key highlights include:
- Sales amounted to MSEK 11,313, flat compared to the previous year when adjusted for exchange rates.
- Gross income was MSEK 3,040, an increase of 12% compared to the previous year.
- Operating income was MSEK 1,065, significantly higher than the MSEK 402 in the previous year due to capital gains.
- Net income for the period was MSEK 695, higher than the MSEK 246 in the previous year.
- The order backlog at the end of the period was MSEK 40,657, an increase of 5% compared to the beginning of
The document provides an overview of Evraz Group, a vertically integrated steel and mining company. In 2010, Evraz saw significant growth in revenues and EBITDA due to strong market recovery. Revenues increased 37% to $13.4 billion while EBITDA grew 90% to $2.35 billion. Steel remained the primary revenue source but mining contributed more to EBITDA due to higher iron ore and coal prices. The company continued to generate positive free cash flow despite high capital expenditures.
This document provides an earnings report for Northrop Grumman Corporation for Q2 2008. It includes highlights from the CEO on sales growth, earnings per share, share repurchases, backlog, and new business awards. The COO highlights provide program updates, including milestones for the LHD-8 amphibious assault ship. Sales and operating margin rates are presented for each business segment for Q2 2008 and full year 2008 estimates. Cash flow details and the company's 2008 outlook are also summarized, along with definitions of non-GAAP financial measures used in the presentation.
The document reports on Modern Times Group's Q3 2009 financial results, which showed continued sales growth despite economic challenges, with more than half of revenues from pay-TV and online businesses. While advertising markets declined, the company gained market share in free-TV and grew subscribers and revenues in pay-TV, maintaining a 12% operating margin through cost reductions. Overall, the resilient business model demonstrated strength in a difficult economic environment.
Electricity regulation in European UnionSwati Singh
The document discusses the deregulation of electricity markets in France. It provides context on the electricity supply chain and the history of liberalization in Europe. France resisted liberalization due to EDF's monopoly and relationship with the government. However, the EU pushed for opening markets. France was eventually required to vertically unbundle utilities and open 30% of its market. The effects of liberalization in Europe included decreased electricity prices overall but also increased price volatility. Both benefits and challenges exist for generators, distributors, customers, and regulators in a liberalized electricity market.
Deregulated electricity markets. The role of the ISO. Processes and systems.ETRM Systems Group
Processes run from an independent system operator (ISO) in deregulated energy markets. From physical dispatching to economic dispatching. Load forecasting. Power network operation. Day ahead markets. Ancillary services markets. SCADAs. Metering. The whole process is represented.
The document discusses management control and organizational issues. It addresses how management control systems can help coordinate decentralized organizations with different sub-units, decision levels, processes, and goals. It provides examples of how budgeting can coordinate business plans across various functions. It also examines the organizational positioning of management control and discusses the advantages and disadvantages of different positions such as being part of the CFO's office, an independent management control office, or embedded within business units. The case of Leroy Merlin, a large home improvement retailer, is presented to discuss how management control systems can enable coordination in a decentralized organization.
Top 8 human resource officer resume samplesserosjom
This document provides resources for human resource officers seeking employment, including resume samples, cover letters, interview questions and answers, and tips for writing resumes and preparing for interviews. It lists specific resume types (chronological, functional, curriculum vitae, etc.), provides examples of each type, and explains who should use each type. It also provides links to additional resources on resume writing, cover letters, interview preparation and sample questions.
Bernardo Lemos Luciano is an Angolan national born in Luanda in 1988. He has worked as an auxiliary administrator and manager at Rosa D' Saron Mini-Hotel from 2010 to 2013. He is self-employed as an English language facilitator and translator. His education includes a diploma in business administration, human resources management, and customer service from the Institute of Commercial Management from 2012 to 2013 and an associate degree in business management from Triumphant College from 2011 to 2013. He also completed a health and safety course in 2013. Lemos Luciano attended Ebenezer Secondary School from 2004 to 2008 studying science. He is fluent in English, Portuguese and has good Spanish skills.
The document provides an evaluation of the non-gaming amenities proposed by Kansas Entertainment for their gaming facility in Wyandotte County, Kansas. It was prepared by Raving Consulting for the Kansas Lottery Gaming Facility Review Board.
The evaluation finds that Kansas Entertainment is only proposing the minimum required amenities for Phase 1 and no hotel. While there are nearby hotels that could help overcome the lack of a hotel, not having a hotel themselves will negatively impact their ability to maximize gaming revenue. The evaluation also notes robust competition from casinos just across the border in Missouri.
The consultants conclude that while Kansas Entertainment meets the basic requirements, their minimal amenity proposal in Phase 1 will not be sufficient to drive significantly more business above
ежегодная конференция Bcp securities для инвесторов москва, 100609evraz_company
Evraz Group is a leading global steel and mining company. In 2008, the company expanded its presence in international markets through acquisitions and organic growth. While revenue increased 58% due to strategic acquisitions and pricing trends, net profit declined 11% due to extraordinary charges. Looking ahead, Evraz aims to enhance its leadership position and cost advantage through further vertical integration and cost reduction initiatives.
1) Veolia Environnement reported revenue of €34.78 billion in 2010, an increase of 2.5% from 2009. Adjusted operating income rose 8.5% to €2.06 billion.
2) By division, Environmental Services saw the largest revenue growth at 6.9% excluding foreign exchange and scope impacts, while Water declined 2.9% on the same basis.
3) Net financial debt remained stable at €15.22 billion in 2010 compared to €15.13 billion in 2009. Cash flow from operations increased 4.6% to €3.74 billion.
The SKF Group reported record quarterly cash flow in Q2 2009 despite a dramatic 30.8% drop in sales volume from the previous year. SKF implemented cost reduction efforts including restructuring programs that achieved annual savings of around SEK 800 million. Demand outlook for Q3 2009 is expected to be significantly lower than the previous year but leveling off sequentially.
This document provides an overview of EVRAZ Group, a major steel and mining company. Some key points:
- EVRAZ is one of the largest steel producers globally and the leader in the Russian/CIS markets. It produces over 17 million tons of crude steel annually.
- In 1H 2009, revenue decreased 57% to $4.6 billion due to lower prices and sales volumes. However, cost cutting measures helped reduce costs.
- EVRAZ has focused on optimizing production, reducing costs, decreasing capex, and actively managing working capital to improve its financial position in the difficult market environment.
- Recent capital market activities raised $965 million in new funds to further strengthen
Iochpe-Maxion S.A reported financial results for the fourth quarter and full year of 2007. Net revenue increased 23.9% in 4Q07 and 3.3% for the full year. EBITDA grew 47.8% in 4Q07 and 1.1% for the full year. Net income increased 1,129.0% in 4Q07 and 25.1% for the full year. The results were driven by growth in the Brazilian vehicle and agricultural machinery industries as well as recovery in domestic demand for railway freight cars. Foreign exchange impacts from currency appreciation reduced revenues compared to prior periods.
The document summarizes Q4 highlights for a group. Key points include:
- Revenue was NOK 1,917 million, a 10% increase year-over-year. EBITA was NOK 168 million, a 12% increase.
- A cost program secured a sustainable margin and the Bank & Finance segment continued to outperform the market. New signings were NOK 1.4 billion, a 64% increase year-over-year.
- For 2009, revenue decreased 5% in line with market trends. EBITA was NOK 603 million, a 17% decrease, but order backlog secured visibility through 2013.
Credit suisse global steel & mining conference, 22 23 сентября 2010evraz_company
1) Evraz reported a 38% increase in revenue and a 147% increase in adjusted EBITDA for the first half of 2010 compared to the same period in 2009, driven by higher sales volumes and prices.
2) Cost of revenue increased 23% due to higher prices for raw materials like scrap, coking coal, and iron ore, though Evraz's vertical integration helped offset costs.
3) Evraz refinanced some short-term debt and issued bonds to improve its debt maturity profile, reducing short-term debt from 46% to 22% of total debt.
This presentation provides an overview of Hindalco Industries' financial and operational performance in fiscal year 2012. Some key points:
- Hindalco achieved strong financial results despite severe cost pressures from rising coal, fuel, and input costs. Its portfolio strategy helped as upstream aluminum business faced margin squeeze.
- Major projects like the Utkal alumina refinery, Mahan smelter and CPP, Aditya smelter and CPP, and Hirakud FRP plant are in advanced construction stages.
- Hindalco strengthened its financing through a large NCD offering and preferential warrant allotment to its promoter.
- The aluminum and copper businesses delivered improved production efficiencies and volumes compared
- Operating revenue for the quarter ended March 31, 2006 was Rs. 278 crore, up 34% from the previous quarter and 26% from the same quarter last year. Total revenue was Rs. 279 crore, up 32% and 25% respectively.
- Operating profit for the quarter was Rs. 16.6 crore, up 37% from the previous quarter. Profit before tax was Rs. 14.3 crore, up 8% from last quarter. Profit after tax was Rs. 9.9 crore, down 18% from last quarter.
- Manpower productivity improved 18% from the previous quarter.
Veolia Environmental Services reported a 9.2% decline in revenue to €9,056 million in 2009. The revenue decline was driven by decreases in waste volumes, prices and volumes of recycled materials, partially offset by a rise in service prices. Revenue stabilized in the fourth quarter of 2009 at constant consolidation scope and foreign exchange rates compared to the same period in 2008. Operating cash flow declined 10.3% to €1,194 million due to lower waste volumes and prices for recycled materials.
0 koon financial analysis-final editionafterrefloat
The document discusses Koon Holdings Limited, a Singapore-based investment holding company with expertise in infrastructure construction, plant and equipment rental, and precast concrete works. It provides an overview of Koon's financial performance, industry and competitors, as well as recommendations to leverage its competitive strengths such as an experienced management team and wide range of products and services to capitalize on industry opportunities like upcoming public construction projects.
презентация для инвесторов, август 2011evraz_company
This corporate presentation provides an overview of Evraz Group, one of the largest vertically integrated steel and mining companies in the world. In 2010, Evraz saw significant growth in revenues and EBITDA due to strong market recovery, with both prices and volumes contributing to increased revenue. While steel products remain the predominant source of revenue, EBITDA is increasingly generated by the mining segment due to higher growth in iron ore and coking coal prices. The presentation discusses Evraz's financial and operational performance in 2010 and the first half of 2011, with a focus on costs, cash flow generation, debt maturity, and market performance in key regions.
The interim report summarizes the company's financial results for January-June 2011. Key highlights include:
- Sales amounted to MSEK 11,313, flat compared to the previous year when adjusted for exchange rates.
- Gross income was MSEK 3,040, an increase of 12% compared to the previous year.
- Operating income was MSEK 1,065, significantly higher than the MSEK 402 in the previous year due to capital gains.
- Net income for the period was MSEK 695, higher than the MSEK 246 in the previous year.
- The order backlog at the end of the period was MSEK 40,657, an increase of 5% compared to the beginning of
The document provides an overview of Evraz Group, a vertically integrated steel and mining company. In 2010, Evraz saw significant growth in revenues and EBITDA due to strong market recovery. Revenues increased 37% to $13.4 billion while EBITDA grew 90% to $2.35 billion. Steel remained the primary revenue source but mining contributed more to EBITDA due to higher iron ore and coal prices. The company continued to generate positive free cash flow despite high capital expenditures.
This document provides an earnings report for Northrop Grumman Corporation for Q2 2008. It includes highlights from the CEO on sales growth, earnings per share, share repurchases, backlog, and new business awards. The COO highlights provide program updates, including milestones for the LHD-8 amphibious assault ship. Sales and operating margin rates are presented for each business segment for Q2 2008 and full year 2008 estimates. Cash flow details and the company's 2008 outlook are also summarized, along with definitions of non-GAAP financial measures used in the presentation.
The document reports on Modern Times Group's Q3 2009 financial results, which showed continued sales growth despite economic challenges, with more than half of revenues from pay-TV and online businesses. While advertising markets declined, the company gained market share in free-TV and grew subscribers and revenues in pay-TV, maintaining a 12% operating margin through cost reductions. Overall, the resilient business model demonstrated strength in a difficult economic environment.
Electricity regulation in European UnionSwati Singh
The document discusses the deregulation of electricity markets in France. It provides context on the electricity supply chain and the history of liberalization in Europe. France resisted liberalization due to EDF's monopoly and relationship with the government. However, the EU pushed for opening markets. France was eventually required to vertically unbundle utilities and open 30% of its market. The effects of liberalization in Europe included decreased electricity prices overall but also increased price volatility. Both benefits and challenges exist for generators, distributors, customers, and regulators in a liberalized electricity market.
Deregulated electricity markets. The role of the ISO. Processes and systems.ETRM Systems Group
Processes run from an independent system operator (ISO) in deregulated energy markets. From physical dispatching to economic dispatching. Load forecasting. Power network operation. Day ahead markets. Ancillary services markets. SCADAs. Metering. The whole process is represented.
The document discusses management control and organizational issues. It addresses how management control systems can help coordinate decentralized organizations with different sub-units, decision levels, processes, and goals. It provides examples of how budgeting can coordinate business plans across various functions. It also examines the organizational positioning of management control and discusses the advantages and disadvantages of different positions such as being part of the CFO's office, an independent management control office, or embedded within business units. The case of Leroy Merlin, a large home improvement retailer, is presented to discuss how management control systems can enable coordination in a decentralized organization.
Top 8 human resource officer resume samplesserosjom
This document provides resources for human resource officers seeking employment, including resume samples, cover letters, interview questions and answers, and tips for writing resumes and preparing for interviews. It lists specific resume types (chronological, functional, curriculum vitae, etc.), provides examples of each type, and explains who should use each type. It also provides links to additional resources on resume writing, cover letters, interview preparation and sample questions.
Bernardo Lemos Luciano is an Angolan national born in Luanda in 1988. He has worked as an auxiliary administrator and manager at Rosa D' Saron Mini-Hotel from 2010 to 2013. He is self-employed as an English language facilitator and translator. His education includes a diploma in business administration, human resources management, and customer service from the Institute of Commercial Management from 2012 to 2013 and an associate degree in business management from Triumphant College from 2011 to 2013. He also completed a health and safety course in 2013. Lemos Luciano attended Ebenezer Secondary School from 2004 to 2008 studying science. He is fluent in English, Portuguese and has good Spanish skills.
The document provides an evaluation of the non-gaming amenities proposed by Kansas Entertainment for their gaming facility in Wyandotte County, Kansas. It was prepared by Raving Consulting for the Kansas Lottery Gaming Facility Review Board.
The evaluation finds that Kansas Entertainment is only proposing the minimum required amenities for Phase 1 and no hotel. While there are nearby hotels that could help overcome the lack of a hotel, not having a hotel themselves will negatively impact their ability to maximize gaming revenue. The evaluation also notes robust competition from casinos just across the border in Missouri.
The consultants conclude that while Kansas Entertainment meets the basic requirements, their minimal amenity proposal in Phase 1 will not be sufficient to drive significantly more business above
The document is a curriculum vitae for Balirajh Briajraj that includes personal details, educational qualifications, work history, and duties for various positions held. It summarizes that Briajraj has over 30 years of experience in telecommunications projects in Africa and South Africa, including roles as a project manager for companies such as Huawei, Brolaz SA, and Telkom SA, with responsibilities like managing teams, budgets, installations, and client relations. He has qualifications in business management, project management, and telecommunications and has managed projects across Africa.
This document is a 4 page curriculum vitae for Juliana Isilony Poio Cardoso. It details her educational background in civil engineering, as well as over 13 years of professional experience in structural engineering, construction management, and quality control roles in Angola and South Africa. Her experience includes projects in oil and gas, transportation, buildings, and water infrastructure. She has skills in engineering software, project management, and speaks Portuguese, English, and basic French.
Cornelius Barnard is a hands-on health and safety manager with over 20 years of experience managing safety across Africa. He has extensive experience implementing ISO and OHSAS safety standards. Currently he is the Safety Superintendent for Africa Mining Services in Guinea, where he oversees safety for over 600 employees. Previously he held safety management roles in Mozambique, Namibia, South Africa, and the Congo. He has a proven track record of improving safety and achieving certification to key international standards.
Eva Inês Pedro Miguel is an Angolan national who has worked in the oil and gas industry since 2008, most recently as a Technical Professional Associate for Halliburton since 2014. She holds a degree in Natural Resources and Environmental Engineering from the Independent University of Angola. Her experience includes offshore work on rigs for Total, Esso, Chevron, and BP in Angola and Cabinda, as well as training in the United States, United Kingdom, and Angola on completion tools, safety, and leadership.
Jayne Lowndes has over 15 years of experience in marketing, business development, sales, customer service, recruitment, and people management. She has a track record of consistently meeting goals and delivering high performance. Her areas of expertise include insurance, financial services, call center operations, artist management, and training. She is currently an Inside Sales Training Manager at Premier Farnell, where she designs and delivers training programs to equip sales teams.
This document provides an introduction and table of contents to the book "Global Mental Health: Principles and Practice". It discusses the emergence of global mental health as a discipline to improve mental health and achieve equity worldwide. Major developments that have shaped the field include demonstrating the global burden of mental disorders, the WHO's Mental Health Gap Action Program, evidence on effective treatments delivered by non-specialists, the emergence of advocacy groups like the Movement for Global Mental Health, establishment of research priorities, and growing political commitment. The book aims to provide principles and practical guidance on global mental health.
Akansha Yadav is an experienced HR professional seeking a responsible position to utilize her knowledge and skills. She has over 4 years of experience in recruitment for IT and engineering roles. Her experience includes sourcing candidates through job portals and databases, screening candidates, coordinating interviews, and closing deals. She is proficient in using various software for data collection and processing.
Indo Africa Times, a weekly newspaper has its key intend to create extensive awareness amongst people about Africa and India concerning different sectors like economy, politics, culture, fashion, sports and many more. It is our sincere endeavor to bridge the information gap between Africa and India by endowing our readers with updated and latest developments occurring in both the countries.
This document provides a curriculum vitae for Miguel Flaviano Wasu, an Angolan national seeking a position as a QHSE Manager. It details his educational background and qualifications, including diplomas in business management, quality management systems, and occupational health and safety. His work experience spans over 10 years in logistics, supply chain, procurement, and QHSE roles for various multinational companies in Angola. He has extensive experience implementing quality, health, and safety standards according to international certifications.
The document is a cover letter and resume from Masruri applying for a QA/QC Manager position. It summarizes his 15 years of experience in quality management roles in the manufacturing of plastic and automotive parts. It highlights his expertise in quality standards like ISO 9001, ISO 14001, ISO TS 16949 and his accomplishments in setting up quality management systems, achieving quality agreements with customers, and leading quality improvement projects.
The document contains the resume of Jose Paulo Lando, including his contact information, education history studying computer science engineering in Angola, work experience as an HES Inspector for CABGOC Facilities Engineering in Angola ensuring safety compliance, and qualifications in areas like Nebosh, OSHA training, offshore safety, and emergency response.
CA Global Group is a specialist recruitment and human resources firm operating across Africa. It has placed over 1,500 professionals on the continent through executive search, recruitment, and staffing services. The company leverages its expertise in African markets and extensive network of clients and candidates to find senior talent. It has offices in Cape Town and Mauritius to serve both English and French-speaking African countries.
Miguel Flaviano is an Angolan national seeking a position as QHSE Manager. He has over 10 years of experience in logistics, supply chain management, procurement, administration, and QHSE. Currently he is the QHSE Manager for James Fisher Angola, where he implements quality, health, and safety standards and conducts audits. Previously he held coordinator or manager roles with responsibilities including operations management, training, risk assessment, and implementing QHSE standards. Miguel Flaviano has an education background in computer science, project management, safety, and human resources and is fluent in English, French, and Portuguese.
Mohamed Cisse is seeking a job and provides his resume. He has over 10 years of experience in logistics and administration roles. Currently he works as a Logistics Assistant and Storekeeper with International Medical Corps, where his responsibilities include receiving and tracking stocks, managing vehicles and generators, and arranging travel and accommodations. Previously he worked in mining administration and as a Travel Coordinator, where he arranged travel for expatriate staff. He is bilingual in French and English and has an Associate Degree in Management and Bilingual Sciences.
AREVA, Business & Strategy Overview - Appendix 1 - Novembre 2009AREVA
The document provides an overview of AREVA's business and strategy as of November 2009. It includes key financial data for 2008 and the first half of 2009, including revenue, operating income, net income, cash flow, and debt. It also provides business details and outlook for AREVA's nuclear and renewable divisions. Financial results are reported by division and highlights include a 21% increase in backlog from 2008 to 2009 and a decline in net income attributable to equity holders.
- The document is a conference call transcript from Veolia Environnement providing key figures as of September 30th, 2009 and discussing financial results.
- Revenue for the first 9 months of 2009 was €25.4 billion, down 1.7% from the prior year adjusted figure. Operating cash flow was €2.8 billion, down 5.5%.
- Profitability improved in the Waste division in Q3 2009, with operating cash flow of €320 million, up 7.1% from the prior year. Cost reduction efforts were intensified.
The document summarizes SKF Group's third quarter 2009 results. Key points include a 24.9% year-over-year drop in sales volume but continued strong price/mix gains. Despite restructuring costs, the operating margin excluding restructuring was 8.7%. Cash flow remained strong at SEK 1.36 billion for the quarter. SKF expects demand in the fourth quarter to be slightly higher than Q3.
The document provides an earnings release for Iochpe-Maxion S.A. for the second quarter of 2009. It highlights a 36.8% reduction in consolidated net operating revenue compared to the same period last year. EBITDA was down 72.1% and net income fell 89.5% year-over-year. Reduced production of trucks, buses, and agricultural machinery in Brazil along with decreased domestic demand drove the financial declines.
BBVA demonstrated the recurrent nature and sustainability of its business model in 2008. In the first quarter of 2009, BBVA continued its strong performance with recurrent operating income supported by recurrent revenues and greater efficiency. Risk management also remained prudent with lower entries to NPAs, provisioning in line with the second half of 2008, and ample generic provisions to cover losses.
The document provides a summary of EDP Energias do Brasil's 4Q08 results. Some key highlights include:
- Consolidated net operating revenue increased 9.1% to R$1,189.2 million in 4Q08.
- Manageable expenditures before depreciation and amortization decreased 18% compared to 4Q07.
- 4Q08 EBITDA reached R$306.0 million, an increase of 96.5% compared to 4Q07.
- Net income for 4Q08 was R$119.0 million, 51% higher than 4Q07.
The document provides a summary of a company's 3Q08 financial results. It highlights that revenue increased 5.2% year-over-year to R$1.226 billion, EBITDA grew 10.6% to R$350.6 million, and net income was R$117.6 million. Generation saw increases in energy sold and financial performance due to capacity growth. Distribution also increased energy sold despite market growth, with Escelsa's tariff adjustment positively impacting results. Expenses declined through reductions in provisions and third-party services. The financial result declined due to lower income and a negative foreign exchange impact.
Metso Corporation Interim Review January - March 2012 presentationMetso Group
The document provides an interim review of Metso Corporation for the first quarter of 2012. Some key highlights include:
- Order intake was strong at EUR 1,920 million, up 4% year-over-year. Net sales increased 22% to EUR 1,755 million.
- EBITA before non-recurring items was EUR 140 million, up 14% compared to Q1 2011.
- The mining and construction segment performed well with a 47% increase in EBITA. Automation profitability was weak.
- Cash flow was strong with free cash flow of EUR 116 million and cash conversion of 135%. The balance sheet remains solid.
This annual report summarizes Arrow Electronics' performance in 2005. Some key details include:
- Arrow is a global provider of electronic components and computer products with over 56,400 employees and 530,000 customers.
- In 2005, Arrow's sales grew to $11.2 billion, up from $10.6 billion in 2004. Net income increased to $253.6 million from $207.5 million.
- Arrow focuses on four strategic pillars - organic sales growth, operational excellence, strengthening its financial position, and building a global team.
- In 2005, Arrow gained market share in every business and expanded its global network to 270 locations in 53 countries and territories.
The document is Iochpe-Maxion's 1Q09 earnings release which summarizes the company's financial performance in the first quarter of 2009 compared to the same period in 2008. Key highlights include a 27.4% reduction in consolidated net operating revenue to R$290.6 million. EBITDA fell 58.1% to R$25.2 million and the company reported a net loss of R$3.2 million compared to a net profit in 1Q08. Exports declined 40.3% in US dollar terms. The earnings decline was driven by reductions in vehicle production and demand across key markets including Brazil, North America, and Europe.
Deutsche bank 8th annual russia one on-one conference, лондонevraz_company
This document provides an overview of EVRAZ Group, a world-class steel and mining company. Some key points:
- EVRAZ is one of the largest steel producers globally and a leader in markets like Russia, CIS, Europe, and North America.
- In 2009, EVRAZ produced over 15 million tons of crude steel and over 14 million tons of rolled steel products.
- EVRAZ has implemented cost-cutting measures and production optimizations to maintain its low-cost position. This has helped stabilize operations during the economic crisis.
- The mining segment has remained EBITDA positive due to self-sufficiency in raw materials and benefitting from higher iron ore and coal prices.
- The document presents operating and financial results for 4Q09. Highlights include an 8.5% increase in total energy volume for CEMAR and Light, and a 3.7 percentage point reduction in CEMAR's energy losses.
- Financial highlights show a 7.6% increase in net operating revenues and a 9.3% increase in adjusted EBITDA compared to 4Q08. Adjusted net income decreased 7.8% year-over-year.
- Recent events discussed include CEMAR and Light's adherence to the REFIS tax recovery program and investments made in 4Q09, which were down 16.6% year-over-year.
The document provides financial and operational highlights for Enel Spa for the first quarter of 2009. Key points include:
- Revenues were €14.8 billion, down 1% year-over-year. EBITDA was €3.85 billion, up 14%. Group net income was €1.91 billion.
- EBITDA increased across most business units, led by gains in Generation & Energy Management in Italy and International operations.
- Electricity production totaled 63.2 TWh, with increases in renewables, hydro and CCGT offsetting declines in coal and oil & gas.
- Total installed capacity was 83.7 GW, with growth in renewables and
The document provides operating and financial results for Equatorial Energia for 3Q09. Key highlights include:
- Total energy volume grew 4.1% year-over-year to 2,221 GWh. CEMAR's volume increased 9.4% and Light's grew 0.2%.
- CEMAR's energy losses declined 2.5 percentage points to 26.4% and Light's increased 1.1 points to 21.5%.
- Net operating revenues increased 3.8% to R$606.4 million. Adjusted EBITDA rose 4.0% to R$215.1 million and adjusted net income grew 3.2% to R$71.
Net revenue and EBITDA grew in the second quarter of 2011 compared to the same period last year. Several portfolio companies experienced revenue growth, while some others reported losses due to restructuring. Total investments in portfolio companies were R$10.4 million in the second quarter. The presentation provides financial and operational updates on each portfolio company.
The presentation provides an overview of Besi's Q3 2012 results, including highlights of the company's market leadership position in die attach equipment with 27% market share, a global manufacturing footprint, and growth strategies focused on advanced packaging and Asian production capabilities to capitalize on opportunities in mobile devices and tablets. Financial results are strong with record revenue and profit, and the outlook remains positive.
The presentation summarizes Q3 2012 quarterly results for Besi. It highlights that Besi is the number 1 or 2 provider in key assembly equipment products with 27% market share. Besi has undergone a corporate transformation through acquisitions, restructuring, and transferring Asian production. This has improved earnings potential. The financial review shows 2011 revenue of €326.9 million and net income of €26.7 million. Management provides an outlook for continued demand growth.
This document summarizes the financial and operating results of CEMAR and Light for the first quarter of 2009. Some key highlights include:
- Billed energy volume for CEMAR and Light increased 3.0% compared to the first quarter of 2008.
- CEMAR's energy losses decreased slightly to 28.5% while Light's losses increased to 20.8%.
- Consolidated net operating revenues grew 11.1% to R$622.6 million driven by increases at both CEMAR and Light.
- Consolidated EBITDA grew 15.7% and net income increased 18.7% after adjusting for non-recurring items.
- Investments grew 13.
This document provides an overview of Equatorial's operating and financial results for 1Q09. Key highlights include:
- Consolidated net operating revenues increased 11.1% to R$622.6 million driven by growth at CEMAR and Light.
- EBITDA grew 15.7% to R$191.7 million with increases at both CEMAR and Light.
- Net income totaled R$63 million, an increase of 1.6% adjusted for non-recurring items.
- Investments grew 13.3% to R$106.9 million with increases at CEMAR and a decrease at Light.
- Key operating metrics like energy losses and reliability improved compared to
2009 figures, economic, social, societal and environmental dataAREVA
AREVA's sustainable development initiative, AREVA Way, revolves around 10 commitments including continuous improvement, innovation, and commitment to employees. In 2009, AREVA entities completed 214 self-assessments and received 299 certifications. R&D expenses were 521 million euros while patent applications increased to 168. Revenue was 8.529 billion euros and net income was 552 million euros. Provisions for end-of-life nuclear operations totaled 5.66 billion euros.
The document provides information about AREVA, a company that operates in nuclear power and renewable energy industries. It discusses AREVA's business areas, strategy, and outlook. AREVA's strategy is to build one third of new nuclear capacity, secure fuel cycle services for customers, and expand in renewable energy. It aims to offer a range of carbon-free power generation solutions while improving safety, competitiveness and efficiency. AREVA is pursuing its strategy through investment and continuous improvement initiatives.
The document is AREVA's 2009 annual results presentation. It summarizes AREVA's performance from 2005-2009, highlights its sustained growth in revenue and order book during this period, and outlines its strategic development plan and financial objectives for 2010-2012. AREVA aims to strengthen its global leadership in the nuclear power cycle, increase its presence in key markets, and improve the performance of its Transmission and Distribution division.
AREVA, Business & Strategy Overview - Novembre 2009AREVA
AREVA is a global leader in CO2-free nuclear power and renewable energy solutions. It has over 75,000 employees working in over 100 countries. AREVA has integrated operations across the entire nuclear fuel cycle, from mining and enrichment to building nuclear reactors and managing used fuel. It is also developing technologies in areas like offshore wind, biomass, and energy storage. AREVA captures growth through its strategy of providing low-carbon energy solutions aligned with growing global energy demand and the need to reduce CO2 emissions.
AREVA, Business & strategy overview - November 2009AREVA
AREVA's Front-End division is the world leader in mining, chemistry, enrichment, and fuel. It supplies the front end of the nuclear fuel cycle. AREVA is investing to maintain its leadership, including exploring for new uranium sources, and developing new enrichment technologies like centrifuge. The division accounted for over €5 billion in sales in 2008.
The document discusses AREVA's first half 2009 results and outlook. Key highlights include securing fuel cycle contracts with customers, expanding industrial capacity, and strengthening their position in renewable energies. Multiple new nuclear plant projects are in negotiation or development globally. The sale of the Transmission & Distribution division is being considered, along with other asset sales, to raise resources for growth. Negotiations continue on Siemens' exit from their joint nuclear venture. Progress is reported on the Olkiluoto 3 EPR project in Finland, though issues remain with the plant owner's contract management.
AREVA, Business & Strategy overview june 2009AREVA
The document provides an overview of AREVA, a global nuclear energy company, including its business segments and market positions. AREVA has two main divisions: Nuclear, where it is the largest player globally with 25-30% market share and €8.1 billion in annual sales; and Transmission & Distribution, where it is the third largest player globally and its market share has increased 50% since 2004. Within Nuclear, AREVA has fully integrated operations along the fuel cycle from mining and front end operations like conversion and enrichment, to building nuclear reactors, fuel production, and back end operations like used fuel recycling.
AREVA, business & strategy overview - April 2009 - Appendix1AREVA
1. Worldwide demand for electricity is projected to double by 2030, increasing the need for power generation.
2. Nuclear power generation does not emit greenhouse gases and has low and stable generation costs, making it a critical part of the solution for meeting future energy needs.
3. Nuclear power has reliable operations and limited fuel price fluctuations due to low dependency on fuel costs compared to other generation sources.
AREVA, business & strategy overview - April 2009AREVA
This document provides an overview of AREVA, a leading company in nuclear energy and electricity transmission. It discusses AREVA's business segments, integrated nuclear fuel cycle operations, strategy to capitalize on nuclear energy revival and growth in transmission & distribution. The summary highlights AREVA's financial performance in 2008 with increased backlog and revenue but lower net income, and outlines plans to maintain growth while ensuring financial soundness during the economic crisis.
Alternatives magazine - Issue 18 - All about nuclear fuelAREVA
The document provides an overview of the nuclear fuel cycle, which has two main phases - the front end and back end.
The front end includes uranium mining and conversion, enrichment, and fuel fabrication. Uranium is mined from open pit or underground mines, concentrated, and converted into yellowcake. It is then enriched to increase the proportion of U235 and fabricated into fuel assemblies.
The back end includes reactor use, where the fuel generates energy for 3-4 years, used fuel treatment to recover recyclable materials and package waste, and final waste disposal. Key challenges are rising energy demand, declining resources, and reducing greenhouse gas emissions. Nuclear power offers a solution by providing large-scale energy without
Extreme oil extraction methods are being used more as oil companies seek to access previously unreachable reserves. Unconventional sources like Canada's oil sands and Venezuela's extra-heavy crude require advanced technologies and higher costs to extract. Offshore drilling is also expanding to greater depths, with over a third of global oil now coming from offshore fields. New frontiers like Alaska's Arctic region promise large reserves but also environmental challenges. Overall these extreme methods help offset declining production from conventional oil fields.
How Does CRISIL Evaluate Lenders in India for Credit RatingsShaheen Kumar
CRISIL evaluates lenders in India by analyzing financial performance, loan portfolio quality, risk management practices, capital adequacy, market position, and adherence to regulatory requirements. This comprehensive assessment ensures a thorough evaluation of creditworthiness and financial strength. Each criterion is meticulously examined to provide credible and reliable ratings.
Fabular Frames and the Four Ratio ProblemMajid Iqbal
Digital, interactive art showing the struggle of a society in providing for its present population while also saving planetary resources for future generations. Spread across several frames, the art is actually the rendering of real and speculative data. The stereographic projections change shape in response to prompts and provocations. Visitors interact with the model through speculative statements about how to increase savings across communities, regions, ecosystems and environments. Their fabulations combined with random noise, i.e. factors beyond control, have a dramatic effect on the societal transition. Things get better. Things get worse. The aim is to give visitors a new grasp and feel of the ongoing struggles in democracies around the world.
Stunning art in the small multiples format brings out the spatiotemporal nature of societal transitions, against backdrop issues such as energy, housing, waste, farmland and forest. In each frame we see hopeful and frightful interplays between spending and saving. Problems emerge when one of the two parts of the existential anaglyph rapidly shrinks like Arctic ice, as factors cross thresholds. Ecological wealth and intergenerational equity areFour at stake. Not enough spending could mean economic stress, social unrest and political conflict. Not enough saving and there will be climate breakdown and ‘bankruptcy’. So where does speculative design start and the gambling and betting end? Behind each fabular frame is a four ratio problem. Each ratio reflects the level of sacrifice and self-restraint a society is willing to accept, against promises of prosperity and freedom. Some values seem to stabilise a frame while others cause collapse. Get the ratios right and we can have it all. Get them wrong and things get more desperate.
A toxic combination of 15 years of low growth, and four decades of high inequality, has left Britain poorer and falling behind its peers. Productivity growth is weak and public investment is low, while wages today are no higher than they were before the financial crisis. Britain needs a new economic strategy to lift itself out of stagnation.
Scotland is in many ways a microcosm of this challenge. It has become a hub for creative industries, is home to several world-class universities and a thriving community of businesses – strengths that need to be harness and leveraged. But it also has high levels of deprivation, with homelessness reaching a record high and nearly half a million people living in very deep poverty last year. Scotland won’t be truly thriving unless it finds ways to ensure that all its inhabitants benefit from growth and investment. This is the central challenge facing policy makers both in Holyrood and Westminster.
What should a new national economic strategy for Scotland include? What would the pursuit of stronger economic growth mean for local, national and UK-wide policy makers? How will economic change affect the jobs we do, the places we live and the businesses we work for? And what are the prospects for cities like Glasgow, and nations like Scotland, in rising to these challenges?
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
Vicinity Jobs’ data includes more than three million 2023 OJPs and thousands of skills. Most skills appear in less than 0.02% of job postings, so most postings rely on a small subset of commonly used terms, like teamwork.
Laura Adkins-Hackett, Economist, LMIC, and Sukriti Trehan, Data Scientist, LMIC, presented their research exploring trends in the skills listed in OJPs to develop a deeper understanding of in-demand skills. This research project uses pointwise mutual information and other methods to extract more information about common skills from the relationships between skills, occupations and regions.
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
STREETONOMICS: Exploring the Uncharted Territories of Informal Markets throug...sameer shah
Delve into the world of STREETONOMICS, where a team of 7 enthusiasts embarks on a journey to understand unorganized markets. By engaging with a coffee street vendor and crafting questionnaires, this project uncovers valuable insights into consumer behavior and market dynamics in informal settings."
Solution Manual For Financial Accounting, 8th Canadian Edition 2024, by Libby...Donc Test
Solution Manual For Financial Accounting, 8th Canadian Edition 2024, by Libby, Hodge, Verified Chapters 1 - 13, Complete Newest Version Solution Manual For Financial Accounting, 8th Canadian Edition by Libby, Hodge, Verified Chapters 1 - 13, Complete Newest Version Solution Manual For Financial Accounting 8th Canadian Edition Pdf Chapters Download Stuvia Solution Manual For Financial Accounting 8th Canadian Edition Ebook Download Stuvia Solution Manual For Financial Accounting 8th Canadian Edition Pdf Solution Manual For Financial Accounting 8th Canadian Edition Pdf Download Stuvia Financial Accounting 8th Canadian Edition Pdf Chapters Download Stuvia Financial Accounting 8th Canadian Edition Ebook Download Stuvia Financial Accounting 8th Canadian Edition Pdf Financial Accounting 8th Canadian Edition Pdf Download Stuvia
Optimizing Net Interest Margin (NIM) in the Financial Sector (With Examples).pdfshruti1menon2
NIM is calculated as the difference between interest income earned and interest expenses paid, divided by interest-earning assets.
Importance: NIM serves as a critical measure of a financial institution's profitability and operational efficiency. It reflects how effectively the institution is utilizing its interest-earning assets to generate income while managing interest costs.
Independent Study - College of Wooster Research (2023-2024) FDI, Culture, Glo...AntoniaOwensDetwiler
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
Understanding how timely GST payments influence a lender's decision to approve loans, this topic explores the correlation between GST compliance and creditworthiness. It highlights how consistent GST payments can enhance a business's financial credibility, potentially leading to higher chances of loan approval.
2. Annual results 2008
Anne LAUVERGEON
Chief Executive Officer
February 25, 2009
2 > 2008 annual results presentation – February 25, 2009
3. Disclaimer
Forward-looking statements
This document contains forward-looking statements and information. These
statements include financial forecasts and estimates as well as the assumptions on
which they are based, statements related to projects, objectives and expectations
concerning future operations, products and services or future performance. Although
AREVA’s management believes that these forward-looking statements are
reasonable, AREVA’s investors and investment certificate holders are hereby advised
that these forward-looking statements are subject to numerous risks and
uncertainties that are difficult to foresee and generally beyond AREVA’s control,
which may mean that the expected results and developments differ significantly from
those expressed, induced or forecast in the forward-looking statements and
information. These risks include those developed or identified in the public
documents filed by AREVA with the AMF, including those listed in the “Risk Factors”
section of the Reference Document registered with the AMF on April 15, 2008 (which
may be read online on AREVA’s website, www.areva.com). AREVA makes no
commitment to update the forward-looking statements and information, except as
required by applicable laws and regulations.
3 > 2008 annual results presentation – February 25, 2009
4. AREVA in a world in crisis
Overall performance
Performance by division
Financial performance
Outlook
Anne Lauvergeon
Chief Executive Officer
6. Net income
In millions of euros
743
649
589
451 451*
389
240
2001
2002 2003 2004 2005 2006 2007 2008
- 587
AREVA has paid its shareholders €2.324Bn since 2001
* Net income reported of €1.049Bn including €451M in earnings per share from continued operations
(excluding sale of FCI – Connectors division)
6 > 2008 annual results presentation – February 25, 2009
7. AREVA: a solid, sustainable model
Recurring nuclear revenue vs. New Builds (€M)
14,000
New
12,000
construction
10,000
8,000
6,000
Recurring
4,000 business
80% of the Nuclear business
2,000
-
2004 2005 2006 2007 2008 2009 2010 2011 2012
Source: AREVA strategic plan
No power plant will shut down due to the economic and financial crisis
80% of our nuclear business is recurring
The integrated business model is winning market share
The backlog gives very strong visibility
Capex is secured by the sale of future production
(e.g. 90% of GBII production has already been sold up to 2020)
7 > 2008 annual results presentation – February 25, 2009
8. Key figures for 2008
2007 2008 ∆ 08/07
In millions of euros
Backlog 39,834 48,246 +21.1%
Revenue 11,923 13,160 +10.4%
Op. income before OL3 provisions 1,043 1,166 +11.8%
% of revenue 8.7% 8.9% +0.2 pts
Operating income 751 417 -44.5%
% of revenue 6.3% 3.2% -3.1 pts
Consolidated net income 743 589 -20.7%
Earnings per share €20.95 €16.62 -20.7%
Operating cash flow* -1,985 -921 +€1.064Bn
Net debt excluding Siemens put 1,954 3,450 +76.6%
Net debt with Siemens put** 4,003 5,499 +37.4%
* EBITDA +/- change in Operating WCR – Operating Capex, net of disposals
** Value of Siemens put in 2007
8 > 2008 annual results presentation – February 25, 2009
9. The crisis has not slowed down New Nuclear
10 utilities have already chosen the EPRTM…
NPCIL
…and are making commitments for the entire fuel cycle
Examples since the crisis began:
CGNPC – China: supply of front end of the fuel cycle through 2026
NPCIL – India: wants to secure reactor supplies for the life
of the reactors (60 years)
EDF: multi-year contract in the front end and back end
(beyond 2030)
9 > 2008 annual results presentation – February 25, 2009
10. Scope of the integrated business model
Customers continue to seek more integration
REACTOR
NEW BUILD
CONVERSION
BACK END
URANIUM FUEL RENEWABLE
SERVICES T&D
REACTORS
ENRICHIMENT
ENERGIES
Examples
CNNC
NPCIL
JV or existing contracts Discussions or negotiations in progress
10 > 2008 annual results presentation – February 25, 2009
11. The T&D business is reorganizing to withstand
the crisis
Stable world demand for T&D in 2009 compared with 2008
with marked differences between sectors
Opportunities linked to investment recovery plans:
Transmission
China, United States, Europe
Distribution Demand curbed in some geographical areas
Industry Sharp drop in orders
Smart grids are a major driver for energy conservation
Smart grids
and renewable energy integration
Aging grids, especially in the United States
Recurring
Possibly postponed investment automatically offset by higher
services
maintenance expenses
AREVA T&D: strategic assets to capture market opportunities
Technology leadership, particularly in automation and very high voltage
Less exposure to industry than our peer group
Close to the utilities via our nuclear operations
11 > 2008 annual results presentation – February 25, 2009
12. Strong technologies
Plants
Front End
EPRTM
Ultracentrifugation
the first Generation III+ reactor
AREVA has the most efficient
under construction (4 units)
ultracentrifugation technology
A range of reactors to meet
customer needs
BWR
PWR PWR
1,250+MWe
1,600+ MWe 1,100+MWe
T&D
Back End
Technologies recognized worldwide
Instrument
transformers
Gas-insulated
substation
E-terravision
Circuit
Smart grid
breakers
12 > 2008 annual results presentation – February 25, 2009
13. AREVA is hiring the men and women its needs
to sustain growth
AREVA workforce excluding FCI
75,414
65,583
61,111
58,760
57,909
36,132 35,800
34,567
2001 2008
2002 2003 2004 2005 2006 2007
Recruitment Integration Training
More than 550 million euros in spending
on operating income since 2006
13 > 2008 annual results presentation – February 25, 2009
14. AREVA has generated and raised the resources
it needs for growth since its establishment
Cumulative from 12/31/2001 to 12/31/2008
End 2008
In billions of euros
Shareholders’
equity
Operating cash flow
before Capex(1) 7.3
+7 Capex(2)
Net debt
(5.5) 5.5
Dividends
3.4 (4)
Net (2.4)
acquisitions TAX
(1.1) Other(3)
(0.9)
(0.2)
Since 2001, AREVA generated €7Bn in operating cash flow
and had capital expenditures of more than €5Bn while maintaining
a strong financial position
1 Operating cash flow before Capex: operating cash flow excluding acquisitions of PP&E and intangible assets
2 Capex: acquisitions of PP&E and intangible assets
3 Other: various financial transactions, etc.
4 Excluding Siemens’ put option
14 > 2008 annual results presentation – February 25, 2009
15. Continuing to grow while maintaining
the group’s financial soundness
Pursue the plan for capital expenditure needed to sustain
AREVA’s strategic positions
Finance the callable Siemens put option
Maintain financial soundness and value creation
Pursue the program of non-strategic asset disposals and minority
share float in some operating companies (mining, GBII)
Carry out the cost reduction program
Preserve the group’s liquidity and optimize working capital
requirement
Preserve the Standard & Poor’s A1 short-term credit rating*
* S&P placed AREVA on its CreditWatch on January 27, 2009 following Siemens’ announcement that it intended to withdraw
from AREVA NP
15 > 2008 annual results presentation – February 25, 2009
16. AREVA in a world in crisis
Overall performance
Performance by division
Financial performance
Outlook
17. Highlights and recent events
New partnerships
Strategic agreement Niger: Partnership
in Kazakhstan Imouraren with Jordan
Consolidation (Mining and fuel) operating permit in uranium
in the fuel cycle
Equity interest
JV in fuel
in enrichment - GBII
Heavy component manufacturing site in the United States
Strengthening Supply of large forgings
of industrial
capacities
Creusot furnace JV in engineering
capacity
Development of the Kerena boiling water reactor
Global
Reactor
Choice of the EPRTM for the UK
partnership
development
Maintenance and services
JV in systems
JV – Ultra high voltage in China
T&D
in India
(transformer factories)
GE
Renewable
Development of the biomass market in the United States
energies
17 > 2008 annual results presentation – February 25, 2009
18. Siemens’ withdrawal from AREVA NP
The EPR™, all technology, all industrial and commercial assets,
and all related expertise remains with AREVA
AREVA confirms the strong roots of its operations in Germany
AREVA continues its strategic partnerships with its German
customers
AREVA is the sole shareholder of AREVA NP
Simplification of AREVA NP and AREVA NC structures
and cost reduction
18 > 2008 annual results presentation – February 25, 2009
19. Highlights and recent events
Principle contract awards in 2008
More than €10Bn
Multi-year
in contracts
contracts
(Front End, R&S*,
in the Front End
Long-term contract
Back End)
in the Front End
First uranium
sale to India
(300 MTU)
NPCIL
Multi-year contracts in the Front End
Savannah River Co-management Interconnection
MOX plant of the Sellafield site in Uruguay
10 transformer rectifier units
Supply of
in Bahrain
two high voltage substations to Dubai
Design and installation of a
HV offshore wind substation
IFA 2000 Franco-British grid interconnection
in the United Kingdom
* R&S: Reactors and Services
19 > 2008 annual results presentation – February 25, 2009
20. 10.4% revenue growth
+9.8% like-for-like
In millions of euros
13,160
+2
+737
Corp.
-46
+320
Back End T&D
+224
R&S
11,923
∆ 08/07: €1,237M
Front End
2007 2008
20 > 2008 annual results presentation – February 25, 2009
21. Operating income
In millions of euros
€1,166M*
or 8.9%
€1,043M* +163 -3 of revenue
or 8.7%
of revenue -43 Corp.
+58
-51
Additional Front End T&D
Back End
R&S
OL3 prov.
€292M Additional
OL3 prov.
€749M
€751M
or 6.3%
of revenue
€417M
or 3.2%
of revenue
2007 2008
* excluding OL3 provisions
21 > 2008 annual results presentation – February 25, 2009
22. Rising operational performance
Operating income excluding OL3 provisions
In millions of euros
1,166
1,043
1,011
640
607
342
180
122
2001 2002 2003 2004 2005 2006 2007 2008
22 > 2008 annual results presentation – February 25, 2009
23. AREVA Way performance indicators
Accident frequency rate: ISO 14001 certification:
AREVA divides its frequency rate All sites with significant environmental
by almost 3 since 2003 aspects will ultimately be certified
10 9.3
100% 100% 100% 100%
9
7.6 (1)
8 79% 76%
74%
73%
69%
67%
7
5.4
6
48%
4.7
5 36%
3.6
4
3.2
3
2
2003 2004 2005 2006 2007 2008
2003 2004 2005 2006 2007 2008
Nuclear sites Other SEA sites (2)
1 drop from 2007 to 2008 linked to a change in consolidation
scope (in particular UraMin and Imouraren)
N.B.: the average frequency rate for French industry is 25.7
(2007 – source: INRS) 2 SEA: Significant Environmental Aspects
23 > 2008 annual results presentation – February 25, 2009
24. AREVA achieves carbon neutrality
Direct GHG emissions (in KT of CO2 eq..)
Offset emissions
In raw data -13% Continuously falling direct
~5 to 6,000 CO2
-11%
Reporting offset by
-22%*
1,287 purchasing carbon credits
(funding of environmental and
1,119 development projects in India, Brazil,
China, etc. via EcoAct)
991
Voluntary reporting
recognized for quality:
772
AREVA ranked among
1,000 MW
leaders in Carbon
coal-fired plant
Disclosure Leadership Index
(CDLI France - 2008)
Involvement in preparing
future post-Kyoto regime
(Copenhagen negotiations)
2005 2006 2007 2008
* -29% at constant revenue
24 > 2008 annual results presentation – February 25, 2009
25. Responsible commitment expressed through
planning, consensus building, action (1/2)
Acceleration of program to replace and secure industrial capacity:
€450M in 2008
In France, AREVA’s level 1* events** represent 14% of all reported
events nationwide in 2008 (i.e. 15 out of 115)
No level 2 to 7 events
Strengthening our continuous improvement initiative
to maintain a high level of safety and security
* The INES has 8 levels of events, from 0 (deviation) to 7 (major accident)
** At licensed nuclear facilities and during radioactive materials transportation
Level 0: Deviation ranked “below scale” by the INES; deviation from normal facility operations or normal transportation operations
Level 1: Anomaly beyond the authorized operating regime
Level 2: Incident with on-site impacts (significant spread of contamination, overexposure of a worker)
and/or significant failures in safety provisions
25 > 2008 annual results presentation – February 25, 2009
26. Responsible commitment expressed through
planning, consensus building, action (2/2)
Maintain constructive, balanced consensus building with our stakeholders
– third Stakeholders Session with Comité 21:
Recent news (including Tricastin)
Strategic goals: demand from emerging countries for nuclear power, prospects
for renewable energies, access to energy
Pursue socio-economic development and community involvement programs
Success of the Harfleur 2000 “Business Village”: more than 800 jobs created
Construction of the first buildings at the Saint Dizier business park;
objective: 150 jobs
Continued development of health observatories near mine sites
Co-development program, including:
Niger: partnership with Sinergi (risk capital) and micro credit operations
Financing of projects in Gabon: public works and civil engineering (40 jobs) ,
microenterprises
Human rights: AREVA actively committed to the work of the Business
Leaders Initiative on Human Rights (BLIHR) and Entreprises
pour les Droits de l’Homme (EDH):
Development of a mapping tool for risks and challenges
Training module dedicated to management
26 > 2008 annual results presentation – February 25, 2009
27. Strong growth while conserving resources
Environmental footprint reduction 2004 -2008 at constant revenue
Paper
Basis 100 in 2004
-46%
Achieved 2006
Achieved 2008
Conventional
GHG
waste(3)
-57%
-51%
Water(2) Energy(1)
-50% -23%
1 Excluding Eurodiif
2 Excluding cooling water for Eurodif and Marcoule
3 Unrecycled conventional waste
27 > 2008 annual results presentation – February 25, 2009
28. AREVA in a world in crisis
Overall performance
Performance by division
Financial performance
Outlook
29. Front End division
2007 2008 Change
In millions of euros
Backlog 21,085 26,897 +27.6%
Contribution to revenue 3,140 3,363 +7.1%
Contribution to op. income 496 453 -8.7%
% of revenue 15.8% 13.5% -2.3 pts
Operating cash flow * -1,672 -609 +€1,063M
* EBITDA +/- net gain on disposal of assets and dilution +/- change in operating WCR – Net operating Capex
Several significant contracts: Operating income:
EDF, Japco, CNEIC (China) Suspension of uranium spot sales,
and Synatom (Belgium), and exceptional 2007 sales
Suez, Taipower, first sales Positive impact of acquisition of share
in India (NPCIL) capital in GBII by Suez, improved
Revenue: buoyant exports profitability of LT uranium
and conversion sales
Free OCR: rise in EBITDA and Capex,
no acquisition in 2008 (UraMin in 2007)
29 > 2008 annual results presentation – February 25, 2009
30. Mining
Market trend AREVA performance
Solid fundamentals: AREVA reserves and resources in 2008
utilities want to secure supplies and future Replacement of mined reserves
expansion of nuclear fleet AREVA reserves/resources constitute 10%
of the world’s identified resources
Price drops in 2008
31% increase in exploration expenses,
Spot: average of $62/lb in 2008 vs. $99/lb
to €56M
in 2007
Volatility due primarily to investment fund 4% increase in production, to 6,303 MTU
sales
Increase in production costs of around
Long-term: average of $83/lb in 2008
15%, comparable to the average
vs. $91/lb in 2007
for the industry
Prices stable for the past 5 months
Stable average AREVA sales prices
at $70/lb
LT & spot Ux prices, 2001- 2008
$36* $36.90*
$23*
150 Peak – July 07:
Long-term
Spot $138/lb
LT $95/lb
Spot
100
50
2006 2007 2008
Current - Feb. 09
Spot $47/lb
LT $70/lb
* per lb U3O8
0
30 > 2008 annual results presentation – February 25, 2009
31. Enrichment
Full use of current capacities
80
70
60
MSWU
MSWU
50
GBII plant - France
40
30
20
Capacity of 7.5M SWU
10
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
Cumulative capacities
WNA 2007 scenario - Upper
of global players
WNA 2007 scenario - Reference
First SWU production
in 2009
Rise in spot SWU prices to $160 as of 12/31/2008
(vs. $143 early 2008)
SWU rates ($)
Cost and schedule
160
on track
140
120
100
80
60
2000 2001 2002 2003 2004 2005 2006 2007 2008
Spot restricted
Source: Ux / TradeTech
31 > 2008 annual results presentation – February 25, 2009
32. Reactors and Services division
2007 2008 Change
In millions of euros
Backlog 7,640 7,850 +2.7%
Contribution to revenue 2,717 3,037 +11.8%
Contribution to op. inc. excl. OL3 113 62 -€51M
% of revenue 4.2% 2.1% -2.1 pts
OL3 provision -292 -749 -€457M
Contribution to op. income -179 -687 -€508M
% of revenue -6.6% -22.6% -16 pts
Operating cash flow * -528 -591 -€63M
* EBITDA +/- net gain on disposal of assets and dilution +/- change in operating WCR – Net operating Capex
EDF (9 steam generators), Operating income: additional
British Energy and Eletrobras provision for OL3 project
Brazil (multi-year service contracts) in Finland
Revenue: greater contribution OCF:
from major projects Customer prepayments
Expenses related to OL3
construction in Finland
32 > 2008 annual results presentation – February 25, 2009
37. OL3: advance
over the competition confirmed
A project in full swing…
Percentage of completion unique worldwide
for a generation 3+ power plant
60% of civil engineering complete
The main components of the primary cooling system have
been manufactured (vessels, steam generators, primary legs)
The entire supply chain is mobilized
Start of electro-mechanical installation
Our skills have been strengthened for future projects
A persuasive commercial showcase
6th Finnish reactor:
EPRTM only reactor to be considered by all 3 utilities in Finland
37 > 2008 annual results presentation – February 25, 2009
38. OL3: contractual aspects
…Customer’s inertia continues to penalize us
TVO has not satisfactorily implemented the 48 measures
it must take to accelerate the process, as agreed upon and
announced jointly in June 2008
It takes an average of more than 12 months for TVO to validate
the technical documentation before passing it on to STUK
(whereas the contract calls for 2 months), and the delays
are even higher for some activities
Example: more than 2 years for TVO to validate the design
of some valves (valves already in production for the Flamanville 3
project)
In this situation, the AREVA-SIEMENS team alone does not
control the project schedule
38 > 2008 annual results presentation – February 25, 2009
39. OL3: financial aspects
AREVA is posting an additional provision for the 2nd half of 2008,
bringing the total provision for the year to €749M
Additional costs generated by the additional resources called up
(project management, engineering, procurement) to compensate
for the customer’s intervention practices
Additional costs linked to civil engineering representing more than 30%
of the total provision for 2008
Civil engineering is 60% complete and should be largely completed in 2009
Additional provision for overall risk
In all, AREVA estimates the loss on completion of the OL3 project
at €1.7 billion including the additional provision for 2008 (€749M)
This amount does not include claims addressed to TVO which
are now the subject of arbitration proceedings launched
by the AREVA-Siemens consortium
TVO has presented its own claim; the AREVA-SIEMENS consortium
and its advisors consider the allegations made in this claim
to be groundless and invalid contractually and from the viewpoint
of Finnish law
39 > 2008 annual results presentation – February 25, 2009
42. Back End division
2007 2008 Change
In millions of euros
Backlog 6,202 7,784 +25.5%
Contribution to revenue 1,738 1,692 -2.7%
Contribution to op. income 203 261 +28.6%
% of revenue 11.7% 15.4% +3.7 pts
Operating cash flow * 172 422 +€250M
* EBITDA +/- net gain on disposal of assets and dilution +/- change in operating WCR – Net operating Capex
Operating income: restart of foreign
MOX contracts in Japan (Kansai)
MOX contracts and 2007 price catch-
global agreement with EDF
up with EDF in 2008 for recycling
Stable revenue: good level
operations
of activity in Logistics
Strong contribution to the group’s
but less favorable customer
cash flow: foreign customer
mix at La Hague
prepayments
42 > 2008 annual results presentation – February 25, 2009
43. Major contracts signed in 2008
La Hague and Melox:
Umbrella agreement for 2008 – 2040 period
Contract signed for 2008 – 2012 period
5 contracts won teamed with AREVA partners
Construction of a MOX fabrication facility (Savannah River)
Treatment and disposal of radioactive effluent
at the Savannah River site
Management of the future Yucca Mountain disposal site (Nevada)
Management of the Hanford site tank cleanup and dismantling
program (Washington state)
GNEP: extension of the feasibility study contract for the closed fuel
cycle
Management and operation of the Sellafield nuclear site teamed
with Nuclear Management Partners
Kansai MOX contracts
43 > 2008 annual results presentation – February 25, 2009
44. T&D division
2007 2008 Change
In millions of euros
4,906 5,715
Backlog +16.5%
Contribution to revenue 4,327 5,065 +17.0%
Contribution to op. income 397 560 +41.1%
% of revenue 9.2% 11.1% +1.9 pts
Operating cash flow * 233 -20 -€253M
* EBITDA +/- net gain on disposal of assets and dilution +/- change in operating WCR – Net operating Capex
Operating income up very
€6.1Bn in new orders,
sharply in Products and Systems
an increase of 4.2% and
of 16.2% in current operations OCF: significant increase
in Capex and increase in WCR
Revenue growth driven
in line with business trend
by Products (+21%)
and Systems (+13%)
44 > 2008 annual results presentation – February 25, 2009
45. T&D: buoyant current operations
New orders in millions of euros
6,065
5,821
Quatar
488
500**
401
4,353
2,678
433
432
3,709
2,498
124
2,251
3,317 176
2,205
320
2,104
80
192 95 1,949
1,713
1,596
Current operations*:
+16.2% from 2007 to 2008
1,535
1,495
H1 04 H2 04 H1 05 H2 05 H1 06 H2 06 H1 07 H2 07 H1 08 H2 08
2004 2005 2006 2007 2008
* Order less than €35M
Current operations (contract < €35M) Large contracts (> €35M)
** exchange rate as of 12/31/2007
45 > 2008 annual results presentation – February 25, 2009
46. T&D: consolidation of operating margin*
11.1% 11.1%
9.9%
307
8.7%
253
230
5.9%
175
4.2%
119
72
H1 06 H2 06 H1 07 H2 07 H1 08 H2 08
2006 2007 2008
* In contribution to group
46 > 2008 annual results presentation – February 25, 2009
47. AREVA in a world in crisis
Overall performance
Performance by division
Financial performance
Outlook
Alain-Pierre RAYNAUD
Chief Financial Officer
48. Non-operating items
Change
2007 2008 08/07
In millions of euros
Operating income 751 417 (334)
Net financial income (expense) 64 (29) (93)
Share in net income of associates 148 156 8
Income tax (81) (46) 35
Effective tax rate 9.9% 11.8% +1.9 pts
Minority interests (139) 91 230
743 589 (154)
Net inc. attributable to equity holders of parent
48 > 2008 annual results presentation – February 25, 2009
49. Net financial income
Change
2007 2008 08/07
In millions of euros
End-of-life-cycle operations 107 (57) (164)
Including:
Income from earmarked portfolio and interest on receivables 175 87 (88)
Non-portfolio income 113 182 69
Discount reversal on end-of-life-cycle portfolio and schedule revisions (181) (327) (146)
Net borrowing costs (excl. discount/premium) (53) (111) (58)
Discount/Premium (20) (16) 4
Income from disposal of securities 3 370 367
Discount reversals on retirement/benefits provision (55) (72) (17)
Other financial income and expenses 82 (143) (225)
Net financial income (expense) 64 (29) (93)
49 > 2008 annual results presentation – February 25, 2009
50. Operating cash flow
In millions of euros
2007 2008
1,181
1,335 +1
(197)
(432) (451)
UraMin acquisition
(1,454) (921)
(2,889) (1,985)
Net. Net.
EBITDA Disposal WCR OCF EBITDA Disposal WCR OCF
gain/loss change Capex gain/loss change Capex
Drop in EBITDA
Practically stable WCR
Decrease in amount for acquisitions compared with 2007 (UraMin acquisition)
Net increase in operating Capex excluding UraMin acquisition
(€1,454M in 2008 vs. €1,295M in 2007)
50 > 2008 annual results presentation – February 25, 2009
51. End-of-life-cycle operations
End-of-life-cycle operations
at December 31, 2008
In millions of euros
270
The law of June 28, 2006
270
on the sustainable management
of radioactive materials and
waste requires a 100% reserve
ratio by June 28, 2011
for end-of-life-cycle provisions
2,991
using dedicated assets
5,404
4,954
Since 2002, AREVA’s reserve
Receivables
ratio has ranged from 90%
Earmarked
portfolio
to 110%
1,964
At December 31, 2008,
in an environment of severe
crisis in financial markets,
Assets Breakdown of Provisions
it was 92%
AREVA assets
AREVA Third party share
51 > 2008 annual results presentation – February 25, 2009
52. Net debt
Siemens’ decision to exercise its put option on shares held in AREVA NP
results in the payability of the value of Siemens’ put option no later than 2012
In millions of euros
12/31/2007 12/31/2008
Excluding
Siemens (1,954)
put option
Excluding
(921)
(3,450) Siemens
put option
Siemens
(2,049)
put
(115)
option (325)
(135)
OCF
(4,003) End-of-life-cycle
cash flow Dividends
(2,049) Siemens
Other
put
items
option
(5,499)
52 > 2008 annual results presentation – February 25, 2009
53. AREVA in a world in crisis
Overall performance
Performance by division
Financial performance
Outlook
Anne Lauvergeon
CEO
54. Outlook
2009
Backlog and revenue growth
Rising operating income
Initiation of a 2.7 billion euro investment program supported
by the French government
Full effect of 600 million euro cost reduction program strengthened
by simplification of the group’s organizational structure, linked
to Siemens’ withdrawal from AREVA NP and the 300 million euro
WCR optimization program
Financing assured, among other things, by disposal of non-
strategic assets and minority share float of certain assets
54 > 2008 annual results presentation – February 25, 2009
57. Appendix 1: Simplified balance sheet at 12/31/09
In billions of euros
4.8
Goodwill
7.3 Equity
8.0
PP&E and intangible assets
Provisions for end-of-
5.7
life-cycle operations
Assets earmarked for end- Other provisions**
3.3
5.2
of-life-cycle operations
0.1 WCR
Investments in associates 1.8 5.5 Net debt*
Non-current financial assets
2.2
Assets (simplified) 21.9 = Liabilities & equity
=
(simplified)
* Net debt excluding unexercised put options = borrowings including interest-bearing prepayments – cash – marketable securities
– non-trade current account assets
** Including net deferred taxes
57 > 2008 annual results presentation – February 25, 2009
58. Appendix 2: Share in net income of associates
Change
2007 2008 08/07
In millions of euros
STMicroelectronics (25) (46) (21)
Eramet group 153 187 34
Other 20 15 (5)
TOTAL 148 156 8
58 > 2008 annual results presentation – February 25, 2009
59. Appendix 3: Minority interests
Change
2007 2008 08/07
In millions of euros
AREVA NP (17) (186) (169)
AREVA NC 129 76 (53)
AREVA T&D 23 32 9
AREVA TA 3 4 1
Other 1 (17) (18)
TOTAL 139 (91) (230)
59 > 2008 annual results presentation – February 25, 2009
60. Appendix 4: Change in revenue 2008/2007
like-for-like
2008 2007
Revenue like- Exchange Consolidation Change in Reported
for-like
Revenue rate scope impact valuation revenue
In millions of euros impact method
Front End division 3,363 3,136 (53) 46 4 3,140
Reactors & Services
division 3,037 2,739 (47) 19 49 2,717
Back End division 1,692 1,735 (4) 0 0 1,738
Nuclear 8,092 7,610 (103) 65 53 7,595
T&D
division 5,065 4,375 (121) 169 0 4,327
Corporate and Other 3 1 0 0 0 1
Consolidated 13,160 11,985 (224) 233 53 11,923
60 > 2008 annual results presentation – February 25, 2009
61. Appendix 5: Income Statement
2008 2007
In millions of euros
Revenue 13,160 11,923
Other income from operations 32 21
Cost of sales (10,906) (9,183)
Gross margin 2,286 2 762
Research and development expenses (453) (421)
Marketing and sales expenses (607) (529)
General and administrative expenses (980) (881)
Other operating income and expenses 214 (123)
Operating income before restructuring expenses 460 808
Restructuring and early retirement costs (43) (57)
Operating income 417 751
Income from cash and cash equivalents 38 37
Gross borrowing costs (148) (110)
Net borrowing costs (111) (73)
Other financial income and expenses 81 138
Net financial income (29) 64
Income tax (46) (81)
Net income of consolidated businesses 343 734
Share in net income of associates 156 148
Net income from continuing operations 498 882
Net income from discontinued operations -- -
Les minority interests 91 (139)
Net income attributable to equity holders of the parent 589 743
35,442,701
Average number of shares outstanding 35,442,701
Basic earnings per share 16.62 20.95
Diluted earnings per share* 16.62 20.95
* Adjusted for net income from discontinued operations
61 > 2008 annual results presentation – February 25, 2009
62. Appendix 6: Balance Sheet (1/2)
ASSETS December 31, December 31,
(in millions of euros) 2008 2007
Non-current assets 22,841 21,425
Goodwill on consolidated companies 4,803 4,377
Other intangible assets 3,089 2,729
Property, plant and equipment 4,913 4,204
Including: End-of-life-cycle assets (AREVA share) 189 174
End-of-life-cycle assets (third party share) 270 2,491
Assets earmarked for end-of-life-cycle operations 4,954 2,873
Investments in associates 1,757 1,558
Other non-current financial assets 2,152 2,588
Pension assets 1 -
Deferred tax assets 900 604
Current assets 11,804 9,251
Inventories and work-in-process 3,403 2,817
Trade accounts receivable and related accounts 4,486 3,884
Other operating receivables 2,434 1,402
Current tax assets 164 94
Other non-operating receivables 154 141
Cash and cash equivalents 1,050 634
Other current financial assets 279
113
Assets of operations held for sale -
-
Total assets 30,676
34,644
62 > 2008 annual results presentation – February 25, 2009
63. Appendix 6: Balance Sheet (2/2)
LIABILITIES AND EQUITY December 31, December 31,
2008 2007
(in millions of euros)
Equity and minority interests 7,292 7,464
Share capital 1,347 1,347
Consolidated premiums and reserves 4,455 3,925
Deferred unrealized gains and losses 287 1,117
Currency translation reserves (131) (138)
Net income attributable to equity holders of the parent 589 743
Minority interests 745 470
Non-current liabilities 11,795 11,951
Employee benefits 1,268 1,175
Provisions for end-of-life-cycle operations 5,674 5,075
Other non-current provisions 123 121
Non-current borrowings 3,969 4,302
Deferred tax liabilities 760 1,277
Current liabilities 15,558 11,261
Current provisions 2,081 1,823
Current borrowings 2,693 613
Advances and prepayments received 4,752 4,172
Trade accounts payable and related accounts 2,991 2,565
Other operating liabilities 2,884 1,921
Current tax liabilities 104 127
Other non-operating liabilities 53 41
Liabilities of operations held for sale - -
Total liabilities and equity 34,644 30,676
63 > 2008 annual results presentation – February 25, 2009
64. Appendix 7: Cash flow and net debt
2007 2008
In millions of euros
Ebitda (excluding end-of-life-cycle costs)* 1,335 1,181
% of revenue 11.2% 9.0%
Gain (loss) on disposal of operating assets 1 (197)
Change in operating WCR (432) (451)
Net operating Capex (2,889) (1,454)
Free operating tax flow before tax (1,985) (921)
End-of-life-cycle obligations 171 (115)
Net financial Capex (131) (462)
Dividends paid (345) (326)
Revaluation of minority put options (liability) (932) (19)
Other (income tax, non-operating WCR, etc.) 85 (577)
Change in net cash position (3,137) (1,496)
Net debt (12/31) (4,003) (5,499)
64 > 2008 annual results presentation – February 25, 2009
65. Appendix 8: Segment reporting (1/2)
2007
Corporate,
Reactors
In millions of euros Consolidated
Other and
Back End T&D
Front End
(except number of employees) and Services
Eliminations
Contribution to
1,738 4,327 1 11,923
3,140 2,717
consolidated revenue
Income items
397 (166) 751
496 (179) 203
Operating income
- 6.3%
11.7% 9.2%
15.8% - 6.6%
% of revenue
440 426 (137) 1,335
731 (125)
Ebitda (excl. end-of-life-cycle)
9.8% - 11.2%
23.3% - 4.6% 25.3%
% of consolidated revenue
(33) (2,889)
(81) (193)
(2,260) (322)
Net Capex
Cash flow items
Change in operating WCR (20) (432)
(186) (5)
(140) (81)
Free operating cash flow 172 233 (190) (1,985)
(1,673) (528)
PP&E and intangible assets 1,053 2,325 11,310
4,894 1,141 1,897
816 345 5,826
5,135 178 (644)
Capital employed*
Other
Number of employees 65,583
25,248 620
12,577 16,500 10,638
* Capital employed at the end of the period
65 > 2008 annual results presentation – February 25, 2009
66. Appendix 8: Segment reporting (2/2)
2008
Corporate,
Reactors
In millions of euros
Front End Back End T&D Other and Consolidated
(except number of employees) and Services
Eliminations
Contribution to
consolidated revenue 13,160
3
5,065
1,692
3,037
3,363
Income items
Operating income 417
(170)
560
261
(687)
453
% of revenue 3.2%
-
11.1%
15.4%
-22.6%
13.5%
Ebitda (excl. end-of-life-cycle) 1 181
(158)
587
320
(349)
780
% of consolidated revenue
9.0%
-
11.6%
18.9%
-11.5%
23.2%
Net Capex
Cash flow items (1,454)
(13)
(324)
(88)
(365)
(664)
Change in operating WCR (451)
44
(276)
190
124
(533)
(921)
(124)
(20)
422
(591)
(609)
Free operating cash flow
12,806
2,520
1,308
1,947
1,436
. 5,595
PP&E and intangible assets
Capital employed* 9 036
2 336
1,356
(906)
159
6,091
Other
Number of employees 75,414
825
29,966
10,906
19,477
14,240
* Capital employed at the end of the period
66 > 2008 annual results presentation – February 25, 2009
67. Appendix 9: ROACE (1/2)
Average Capital Net Operating ROACE
Employed Income
In millions of euros 2007 2008* 2007 2008 2007 2008*
Nuclear 3,172 5,005 429 37 13.5% 0.7%
T&D 761 1,086 265 402 34.8% 37.0%
Other 331 2,250 (111) (111) - -
Consolidated 4,264 8,341 583 328 13.7% 3.9%
* Unadjusted for goodwill linked to the Siemens put option
67 > 2008 annual results presentation – February 25, 2009
68. Appendix 9: ROACE (2/2)
CONSOLIDATED
2007 2008
unadjusted for
In millions of euros Siemens’ put option
Net operating income 583 328
Net intangible assets 2,729 3,089
Goodwill used in ROACE calculation 2,520 4,748*
Property, plant and equipment 4,204 4,914
Customer prepayments on assets (907) (941)
Operating WCR 368 656
Provisions for contingencies and losses (3,088) (3,430)
Capital employed 5,826 9,036
Average capital employed 4,264 8,341
ROACE 13.7% 3.9%
* Unadjusted for goodwill related to Siemens’ put option
68 > 2008 annual results presentation – February 25, 2009