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.
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.
The document discusses the Peruvian telecom market. It notes that the market has seen consistent growth in recent years, driven by mobile and broadband services. While penetration rates have increased, rates are still lower than Latin American averages, indicating further room for growth. The market is expected to continue strong growth in the coming years through technological convergence and business models providing integrated services, helping reduce Peru's digital divide.
CCI State of the Mobile Nation Q3 2012Michael Cote
Facts and figures for the wireless industry. Covers topics such as carrier financial metrics, smartphone and tablet marketshare, mobile commerce, wireless channel activations, and more. Companies mentioned include, AT&T, Sprint, Verizon, Apple, Samsung, Huawei, ZTE, LG, Microsoft, Nokia, Amazon, Tizen, etc.
Building Successful Free-to-Play Apps on AndroidTapjoy
The document discusses building successful free-to-play apps on Android. It covers acquisition through channels like video ads and cross promotion. Retention strategies discussed include social sharing, daily rewards, and challenges/quests. Monetization techniques include direct in-app purchases, offerwalls displaying ads in exchange for virtual currency, and featuring limited-time special item deals. The key is iterating quickly based on metric analysis.
20100602 f tpresentationin-telaviv-vdeffinalthegreglowe
- France Telecom-Orange is a major global telecommunications company operating in both developed and developing markets worldwide. It has a diversified business model including home, personal, and enterprise customers.
- As of 2009, it had 51 billion euros in revenues, served over 193 million customers group-wide, and had 181 thousand employees across its operations.
- The presentation provides an overview of France Telecom-Orange's operations and performance, with a focus on strategic directions, key figures for 2009, and quarterly results for Q1 2010. It also contains customary cautionary statements about forward-looking projections.
EU Retailing Opportunities for FTSE100 Oil Companies, Hypermarkets & FMCG...shahzad6708
2009-2020 Outlook, B2B & B2C Opportunities, Proposition Development for FTSE100 Oil Majors, Hypermarkets, Retailers and Suppliers like Mars, Nestle!
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.
The document discusses the Peruvian telecom market. It notes that the market has seen consistent growth in recent years, driven by mobile and broadband services. While penetration rates have increased, rates are still lower than Latin American averages, indicating further room for growth. The market is expected to continue strong growth in the coming years through technological convergence and business models providing integrated services, helping reduce Peru's digital divide.
CCI State of the Mobile Nation Q3 2012Michael Cote
Facts and figures for the wireless industry. Covers topics such as carrier financial metrics, smartphone and tablet marketshare, mobile commerce, wireless channel activations, and more. Companies mentioned include, AT&T, Sprint, Verizon, Apple, Samsung, Huawei, ZTE, LG, Microsoft, Nokia, Amazon, Tizen, etc.
Building Successful Free-to-Play Apps on AndroidTapjoy
The document discusses building successful free-to-play apps on Android. It covers acquisition through channels like video ads and cross promotion. Retention strategies discussed include social sharing, daily rewards, and challenges/quests. Monetization techniques include direct in-app purchases, offerwalls displaying ads in exchange for virtual currency, and featuring limited-time special item deals. The key is iterating quickly based on metric analysis.
20100602 f tpresentationin-telaviv-vdeffinalthegreglowe
- France Telecom-Orange is a major global telecommunications company operating in both developed and developing markets worldwide. It has a diversified business model including home, personal, and enterprise customers.
- As of 2009, it had 51 billion euros in revenues, served over 193 million customers group-wide, and had 181 thousand employees across its operations.
- The presentation provides an overview of France Telecom-Orange's operations and performance, with a focus on strategic directions, key figures for 2009, and quarterly results for Q1 2010. It also contains customary cautionary statements about forward-looking projections.
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AREVA, Business & strategy overview - January 2009AREVA
This document provides an overview of AREVA, a large integrated energy company. It discusses AREVA's financial performance, strategy to capitalize on nuclear energy and transmission/distribution markets, and investments in mining, fuel production, and technology. The outlook expects sales to double to over €20 billion by 2012 with a double-digit operating margin and positive free cash flow.
Exelon Corporation and Public Service Enterprise Group provided an overview of their 2005 performance and 2006 outlook at the Morgan Stanley 13th Annual Global Electricity & Energy Conference. Key points included:
- Both companies reported strong standalone performance in 2005 and expect continued growth in 2006 driven by improving power markets and operations.
- The proposed merger between Exelon and PSEG is progressing towards closing in the second or third quarter of 2006 and would create a uniquely positioned generation business with a large, low-cost nuclear fleet.
- Exelon's 2005 earnings growth was driven by improved operations and commodity risk management. It expects further earnings growth in 2006 and 2007 from the end of below-market contracts and recontract
Exelon Corporation and Public Service Enterprise Group provided an overview of their 2005 performance and 2006 outlook at the Morgan Stanley 13th Annual Global Electricity & Energy Conference. Key highlights included continued strong standalone performance in 2005, progress towards closing their merger in the second or third quarter of 2006, and positioning in a large, low-cost nuclear fleet. Both companies expect earnings growth to continue in 2006 driven by improving power market fundamentals and operations.
This document provides an overview and agenda for a seminar on solar power purchase agreements (PPAs). It discusses what a PPA is, how it works, and its benefits. It also covers PPA implementation aspects like design, financing, operations and maintenance. Finally, it presents a case study of a 384 kW solar PPA installed for a city's public works campus.
AkzoNobel Investor update Q4 and FY 2009 resultsAkzoNobel
AkzoNobel held an investor update to review their Q4 and full year 2009 results. The presentation covered AkzoNobel's strategic ambitions which include outgrowing markets, achieving an EBITDA margin above 14% by end of 2011, and leading in sustainability. It also reviewed 2009 highlights such as revenue of €13.9 billion, EBITDA of €1.8 billion, and net income of €285 million. Additionally, it provided an outlook on AkzoNobel's medium-term targets including increasing their eco-premium product sales and reducing their carbon footprint and injury rate.
This document summarizes Eletropaulo's 2nd quarter 2003 earnings presentation. It discusses key topics like the company's market performance, investments, tariff reset process, and financial indicators. Consumption increased 9.69% compared to the prior year, with investments of R$88 million in the 1st half of 2003. The initial proposed tariff reset of 9.62% was adjusted to 10.95% after considering various factors in Eletropaulo's required revenue calculation. Key pending issues in the tariff reset included determining the asset base, actuarial costs, operating expenses, and the test year used.
The document provides an overview of AES Brasil Group, including:
1) Market share information for distribution and generation companies.
2) Shareholding structure details for AES Brasil Group and its subsidiaries.
3) Key operating and financial metrics for AES Eletropaulo, including consumption trends, investments, SAIDI/SAIFI indexes, costs and expenses, EBITDA, net income, dividends paid, and debt profile.
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
SPX Corporation Chairman, President and CEO Chris Kearney presented at the 2008 Industrial Conference on November 11, 2008. The presentation included forward-looking statements about SPX's financial projections and discussed risks that could impact results. It provided an overview of SPX as a global, multi-industrial manufacturer with 2008 estimated revenue of $6 billion across various segments and operations in over 35 countries. Financial targets for 2008 included revenue growth of 28-29% and adjusted earnings per share of $6.40 to $6.50.
This document provides an overview of MPX Energia S.A.'s participation in Brazil's A-5 energy auction in October 2008. The key highlights are:
- MPX was the only "base plant" (using hydroelectric or natural gas) to win a contract in the auction, which was dominated by peak plants (oil and open cycle LNG plants).
- Limited participation from large energy players resulted in higher costs for the power system during periods of low hydrological levels, as the A-5 auction secured 1,990 MW of oil on average compared to 811 MW in the previous auction.
- MPX decided not to bid its Porto do Açu project due to a
Iochpe-Maxion reported earnings for the fourth quarter of 2008 and full year 2008. Net operating revenue increased 40.7% to R$462 million in 4Q08 and 41.8% to R$1.828 billion in 2008. EBITDA grew 34.3% to R$46 million in 4Q08 and 71.7% to R$267.7 million in 2008. Net income declined 71.3% to R$4.9 million in 4Q08 but increased 195.7% to R$214.1 million for the full year 2008. The results were driven by growth in the wheels and chassis divisions as well as the impact of currency depreciation.
This document summarizes Brasiliana's 3rd quarter 2006 results. Key highlights include a 26% increase in adjusted EBITDA compared to the first 9 months of 2005, net profit of R$274.4 million compared to a loss in the same period last year, and a tariff adjustment of 11.45% granted in July 2006. The document also discusses the company's operating performance, financial performance, capital expenditures, debt profile, and conclusions.
AkzoNobel provides a quarterly investor update covering Q1 2010 results. Key highlights include 6% revenue growth and 38% EBITDA growth. By business area, Decorative Paints saw 7% revenue growth and 71% EBITDA growth. Performance Coatings revenue was stable with improved margins. Specialty Chemicals revenue grew 2% with margin expansion. AkzoNobel remains cautiously optimistic for continued recovery in 2010.
public serviceenterprise group EEIConferencefinance20
Public Service Enterprise Group (PSEG) provided guidance and an overview of its business units for 2004 and beyond. Key points included 2004 EPS guidance of $3.15-3.35 and ROE of 13-14%. PSEG Power is focused on improving nuclear and fossil plant performance while PSEG Energy Resources & Trading optimizes returns from its diverse asset portfolio. PSE&G is New Jersey's largest utility and is focused on infrastructure investment and regulatory initiatives. Higher energy prices and costs present challenges but opportunities also exist in nuclear improvements, fossil best practices, and competitive electricity markets.
Public Service Enterprise Group (PSEG) provides a presentation at the EEI Annual Financial Conference on its business operations and financial guidance. PSEG's subsidiaries PSE&G and PSEG Power face challenges from rising fuel costs and competitive pressures that may impact earnings. However, PSEG also outlines operational improvements and market opportunities at both subsidiaries expected to increase earnings and drive growth over the long term. Key priorities include improving nuclear plant performance at PSEG Power and infrastructure investments at PSE&G.
In this document:
1) The company reported strong growth in value added services such as digital cable and data in the second quarter of 2008.
2) Financial results for the first half of 2008 were stable with rebased revenue growth of 6% and rebased operating cash flow growth of 14%.
3) The company generated a record $318 million in free cash flow for the second quarter and continued repurchasing stock.
In this 2nd quarter 2008 investor call, the following key points were made:
1) The company reported strong growth in value added services such as digital cable and broadband internet. Digital cable additions reached a record of 336,000.
2) Financial results for the first half of the year were stable with rebased revenue growth of 6% and rebased operating cash flow growth of 14%. Operating cash flow margin improved.
3) Subscriber growth trends were positive with voice, data, and video additions in line with or exceeding prior year comparisons. Digital cable penetration continued increasing across markets.
4) International operations reported rebased revenue and operating cash flow growth rates between 5-29% for the first
Interim report 1 2010, Investor presentation, Nordea BankNordea Bank
Nordea reported strong results for the first quarter of 2010. Total income was up 7% driven by increases in net fee and commission income. Operating profit increased 48% and risk-adjusted profit was up 27%. Loan losses declined significantly year-over-year. The results reflected continued business volume growth, improved margins, and good cost control. Nordea also reported solid capital ratios and liquidity position at the end of the quarter. Overall, the bank delivered a strong start to the year.
AREVA, Business & strategy overview - January 2009AREVA
This document provides an overview of AREVA, a large integrated energy company. It discusses AREVA's financial performance, strategy to capitalize on nuclear energy and transmission/distribution markets, and investments in mining, fuel production, and technology. The outlook expects sales to double to over €20 billion by 2012 with a double-digit operating margin and positive free cash flow.
Exelon Corporation and Public Service Enterprise Group provided an overview of their 2005 performance and 2006 outlook at the Morgan Stanley 13th Annual Global Electricity & Energy Conference. Key points included:
- Both companies reported strong standalone performance in 2005 and expect continued growth in 2006 driven by improving power markets and operations.
- The proposed merger between Exelon and PSEG is progressing towards closing in the second or third quarter of 2006 and would create a uniquely positioned generation business with a large, low-cost nuclear fleet.
- Exelon's 2005 earnings growth was driven by improved operations and commodity risk management. It expects further earnings growth in 2006 and 2007 from the end of below-market contracts and recontract
Exelon Corporation and Public Service Enterprise Group provided an overview of their 2005 performance and 2006 outlook at the Morgan Stanley 13th Annual Global Electricity & Energy Conference. Key highlights included continued strong standalone performance in 2005, progress towards closing their merger in the second or third quarter of 2006, and positioning in a large, low-cost nuclear fleet. Both companies expect earnings growth to continue in 2006 driven by improving power market fundamentals and operations.
This document provides an overview and agenda for a seminar on solar power purchase agreements (PPAs). It discusses what a PPA is, how it works, and its benefits. It also covers PPA implementation aspects like design, financing, operations and maintenance. Finally, it presents a case study of a 384 kW solar PPA installed for a city's public works campus.
AkzoNobel Investor update Q4 and FY 2009 resultsAkzoNobel
AkzoNobel held an investor update to review their Q4 and full year 2009 results. The presentation covered AkzoNobel's strategic ambitions which include outgrowing markets, achieving an EBITDA margin above 14% by end of 2011, and leading in sustainability. It also reviewed 2009 highlights such as revenue of €13.9 billion, EBITDA of €1.8 billion, and net income of €285 million. Additionally, it provided an outlook on AkzoNobel's medium-term targets including increasing their eco-premium product sales and reducing their carbon footprint and injury rate.
This document summarizes Eletropaulo's 2nd quarter 2003 earnings presentation. It discusses key topics like the company's market performance, investments, tariff reset process, and financial indicators. Consumption increased 9.69% compared to the prior year, with investments of R$88 million in the 1st half of 2003. The initial proposed tariff reset of 9.62% was adjusted to 10.95% after considering various factors in Eletropaulo's required revenue calculation. Key pending issues in the tariff reset included determining the asset base, actuarial costs, operating expenses, and the test year used.
The document provides an overview of AES Brasil Group, including:
1) Market share information for distribution and generation companies.
2) Shareholding structure details for AES Brasil Group and its subsidiaries.
3) Key operating and financial metrics for AES Eletropaulo, including consumption trends, investments, SAIDI/SAIFI indexes, costs and expenses, EBITDA, net income, dividends paid, and debt profile.
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
SPX Corporation Chairman, President and CEO Chris Kearney presented at the 2008 Industrial Conference on November 11, 2008. The presentation included forward-looking statements about SPX's financial projections and discussed risks that could impact results. It provided an overview of SPX as a global, multi-industrial manufacturer with 2008 estimated revenue of $6 billion across various segments and operations in over 35 countries. Financial targets for 2008 included revenue growth of 28-29% and adjusted earnings per share of $6.40 to $6.50.
This document provides an overview of MPX Energia S.A.'s participation in Brazil's A-5 energy auction in October 2008. The key highlights are:
- MPX was the only "base plant" (using hydroelectric or natural gas) to win a contract in the auction, which was dominated by peak plants (oil and open cycle LNG plants).
- Limited participation from large energy players resulted in higher costs for the power system during periods of low hydrological levels, as the A-5 auction secured 1,990 MW of oil on average compared to 811 MW in the previous auction.
- MPX decided not to bid its Porto do Açu project due to a
Iochpe-Maxion reported earnings for the fourth quarter of 2008 and full year 2008. Net operating revenue increased 40.7% to R$462 million in 4Q08 and 41.8% to R$1.828 billion in 2008. EBITDA grew 34.3% to R$46 million in 4Q08 and 71.7% to R$267.7 million in 2008. Net income declined 71.3% to R$4.9 million in 4Q08 but increased 195.7% to R$214.1 million for the full year 2008. The results were driven by growth in the wheels and chassis divisions as well as the impact of currency depreciation.
This document summarizes Brasiliana's 3rd quarter 2006 results. Key highlights include a 26% increase in adjusted EBITDA compared to the first 9 months of 2005, net profit of R$274.4 million compared to a loss in the same period last year, and a tariff adjustment of 11.45% granted in July 2006. The document also discusses the company's operating performance, financial performance, capital expenditures, debt profile, and conclusions.
AkzoNobel provides a quarterly investor update covering Q1 2010 results. Key highlights include 6% revenue growth and 38% EBITDA growth. By business area, Decorative Paints saw 7% revenue growth and 71% EBITDA growth. Performance Coatings revenue was stable with improved margins. Specialty Chemicals revenue grew 2% with margin expansion. AkzoNobel remains cautiously optimistic for continued recovery in 2010.
public serviceenterprise group EEIConferencefinance20
Public Service Enterprise Group (PSEG) provided guidance and an overview of its business units for 2004 and beyond. Key points included 2004 EPS guidance of $3.15-3.35 and ROE of 13-14%. PSEG Power is focused on improving nuclear and fossil plant performance while PSEG Energy Resources & Trading optimizes returns from its diverse asset portfolio. PSE&G is New Jersey's largest utility and is focused on infrastructure investment and regulatory initiatives. Higher energy prices and costs present challenges but opportunities also exist in nuclear improvements, fossil best practices, and competitive electricity markets.
Public Service Enterprise Group (PSEG) provides a presentation at the EEI Annual Financial Conference on its business operations and financial guidance. PSEG's subsidiaries PSE&G and PSEG Power face challenges from rising fuel costs and competitive pressures that may impact earnings. However, PSEG also outlines operational improvements and market opportunities at both subsidiaries expected to increase earnings and drive growth over the long term. Key priorities include improving nuclear plant performance at PSEG Power and infrastructure investments at PSE&G.
In this document:
1) The company reported strong growth in value added services such as digital cable and data in the second quarter of 2008.
2) Financial results for the first half of 2008 were stable with rebased revenue growth of 6% and rebased operating cash flow growth of 14%.
3) The company generated a record $318 million in free cash flow for the second quarter and continued repurchasing stock.
In this 2nd quarter 2008 investor call, the following key points were made:
1) The company reported strong growth in value added services such as digital cable and broadband internet. Digital cable additions reached a record of 336,000.
2) Financial results for the first half of the year were stable with rebased revenue growth of 6% and rebased operating cash flow growth of 14%. Operating cash flow margin improved.
3) Subscriber growth trends were positive with voice, data, and video additions in line with or exceeding prior year comparisons. Digital cable penetration continued increasing across markets.
4) International operations reported rebased revenue and operating cash flow growth rates between 5-29% for the first
Interim report 1 2010, Investor presentation, Nordea BankNordea Bank
Nordea reported strong results for the first quarter of 2010. Total income was up 7% driven by increases in net fee and commission income. Operating profit increased 48% and risk-adjusted profit was up 27%. Loan losses declined significantly year-over-year. The results reflected continued business volume growth, improved margins, and good cost control. Nordea also reported solid capital ratios and liquidity position at the end of the quarter. Overall, the bank delivered a strong start to the year.
Similar to AREVA, business & strategy overview - April 2009 (20)
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 - 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.
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 - 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.
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 - 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.
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.
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?
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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.
> Overview – April 2009
3
4. Agenda
1. Introduction
2. AREVA in a world in crisis
3. Performances and objectives by division
4. Financials
5. Appendixes
> Overview – April 2009
4
5. AREVA provides solutions for CO2 free electricity
generation, transmission and distribution
€13,160M sales
(2008)
Nuclear
75,400 people
100 countries
Transmission
& Distribution
> Overview – April 2009
5
6. AREVA is Nr 1 in Nuclear and Nr 3 in T&D
Geographic sales
2008 Sales by business
No. 1 worldwide in Nuclear
Africa & Middle
2008 market size: Europe
East
c.€35Bn (excl. France)
€8.1Bn
9%
Americas
Market share: 25-30%
61,5%
29%
# 1 in Europe and the US
15%
# 1 in Plants / Fuel
# 1 in the Back End
19%
No. 3 worldwide in T&D 28%
Asia-Pacific
€5.1Bn 2008 market size:
France
€56Bn
38,5%
Market share increase :
+50% since 2004
> Overview – April 2009
6
7. AREVA is the only fully integrated player
on the Nuclear value chain
AREVA:
€8Bn Nuclear
t
hi
rke
nG
a
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VA
CO
ac
3
rs
ib
C
EC
/B
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Ma
P
Sales in 2008
Hit
MH
he
EN
ME
sh
E
AE
US
A
AR
Ot
08
/
UR
CA
To
ND
GE
20
Mining / Natural
20-25%
60,400 t 15-20% 5-10% 20-25% 25-30%
Uranium
Conversion/
Front End
25-30%
57,800 t 20-25% 5-10% 25-30% 20-25%
Chemistry
47
Enrichment 20-25% 20-25%
20-25% 25-30% 5-10%
MSWUs 1
*
Natural Uranium
30-35% 10-15% 15-20% 10-15%
6,800t 20-25%
fuel (UO2)
*
10-15% 35-40%
€15Bn
Reactors & Services 20-25% 15-20% 5-10%
33,220 t2 *
Back End
10-15%
Treatment 70-75% 10-15% JNFL
* 25-30%
Recycling
2,470 t2 1-5% (Belgonuclear)
65-70%
(MOX fuel) JNFL
1 Separative Work Units
2 Cumulated, worldwide – AREVA Estimate
Recent strategic moves
3 AtomEnergoProm (Russia)
* Figures unidentified or not disclosed
> Overview – April 2009
7
8. AREVA T&D: a leading player worldwide
AREVA T&D Leadership
T&D Market position
Products
T&D Global Market
2008: €56Bn Disconnectors
High Voltage Direct
AREVA
Current** (HVDC)
Other Players*
11% Energy Management
Siemens
Systems (EMS)
Gas-Insulated Substation
17% 48%
(GIS)
Special Products Suppliers
Aluminum (SPS)
24%
Instrument Transformers
ABB
Key markets
AREVA T&D Nr 1 in India
* All other players have a market share below 5% (Schneider, GE, XD Group…)
** Excluding China
> Overview – April 2009
8
9. AREVA’s strategy: to set the standard
in CO2-free power generation and electricity
transmission and distribution
Capitalize on our integrated business model to spearhead
1
the nuclear revival
Maintain the existing fleets’ safety and performance levels
Build 1/3 of new nuclear generating capacities*
Make the fuel cycle secure for our current and future customers
Ensure sustainable, profitable growth in T&D
2
Expand our renewable energies offering
3
...while remaining the leader in safety and security
* of the accessible market
> Overview – April 2009
9
10. Agenda
1. Introduction
2. AREVA in a world in crisis
3. Performances and objectives by division
4. Financials
5. Appendixes
> Overview – April 2009
10
12. 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)
> Overview – April 2009
12
13. 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)
> Overview – April 2009
13
14. 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)
> Overview – April 2009
14
15. 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
> Overview – April 2009
15
16. 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
> Overview – April 2009
16
17. AREVA is hiring the men and women its needs
to sustain growth
AREVA workforce excluding FCI
75,400
65,600
61,100
58,800
57,900
36,100 35,800
34,600
2001 2008
2002 2003 2004 2005 2006 2007
Recruitment Integration Training
More than 550 million euros in spending
on operating income since 2006
> Overview – April 2009
17
18. 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
> Overview – April 2009
18
19. AREVA has continued its partnership strategy in
2008 to secure future growth
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
19 > Overview – April 2009
19
20. Key figures for 2008
∆ 08/07
2007 2008
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
> Overview – April 2009
20
21. 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
> Overview – April 2009
21
22. 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
> Overview – April 2009
22
23. Agenda
1. Introduction
2. AREVA in a world in crisis
3. Performances and objectives by division
4. Financials
5. Appendixes
> Overview – April 2009
23
24. Front-End division -
AREVA invests in Mines and Enrichment
Strengths & issues Sales – 2008 split
Nr 1 worldwide in the overall Front-End
Mining
Integrated player: ability to answer clients’
will to secure supplies and future 23%
expansion of nuclear fleet Fuel* 37%
Chemistry
Strategic partnership with clients through (* 34% 8%
in AREVA NP)
commercial agreements and/or equity
deals 32%
Strong position in fuel assemblies Enrichment
Challenge : impact of commodities &
production costs increase
Key financials Strategic priorities
Double uranium production by 2012 and
in millions of euros 2007 2008 Change increase resources
Order book 21,085 26,897 +27.6% Production ramp up : Trekkopje, Katco,
Imouraren, etc…
Sales revenues 3,140 3,363 +7.1%
Succeed in the construction of
Operating income 496 453 -8.7%
enrichment facilities in France and in
% Sales 15.8% 13.5% -2.3 pts
the US
Op. FCF before tax (1,672) (609) +€1,063M
Remain the worldwide reference in
nuclear fuel and expand in Asia
> Overview – April 2009
24
25. AREVA develops a uniquely diversified portfolio
to make the fuel cycle secured for its customers
Canada Kazakhstan
Development (Shea Creek, Mining & global fuel
Kiggavik etc.) agreement signed
Exploration since 1964 Katco production ramp-up /
license for 4,000 tU obtained
Cigar Lake production to start
after 2012 (+2,600 tU) Exploration
Mongolia
Sainshand
Exploration
Niger
Morocco
Somaïr & Cominak mines
Agreement signed with
Office Chérifien des Imouraren mining license
Phosphates obtained - Start up 2013-14
(+ 5,000 tU)
Democratic Republic of
Congo
AREVA Resources Southern Africa Mining partnership
Namibia - Trekkopje: mining permit
obtained / 1st production
Australia
expected in 2010
Exploration
+3,000 tU production expected
since 1969
Central African Republic -Bakouma:
government agreement obtained
~12,000
+2,000 tU production expected
~ 6,300
South Africa – Ryst Kuil Production
Exploration (metric tons of U)
2008 2012
> Overview – April 2009
25
26. Making the fuel cycle secure for our customers
Adapting our production facilities and customers partnerships
Conversion GB2 - Construction site
France: Comurhex II project
• Capital investment of €610M launched in 2007
• New plants at the Tricastin and Malvési sites
Enrichment
France: GB II
Investment of close to €3Bn
Capacity of 7.5 million SWU
Modularity enabling production to start in 2009
Project on schedule
United States (Bonneville, Idaho): “Eagle Rock”
Investment of $2.2B
Capacity of 3.0 million SWU Eagle Rock, Idaho
Production to start in 2014-2015
Strategic agreements and partnerships with utilities to
secure their access to the fuel cycle
Suez acquired a 5% equity interest in GBII enrichment
facility
Innovation Capacity Productivity
> Overview – April 2009
26
27. Reactors & Services division -
Still mostly recurring, but new build is there
Strengths & issues Sales – 2008 split
~100 GW installed capacity WW – 26% total Renewable Energies
CIS Nuclear measures
80% sales are recurring and 20% concern projects
(new reactors and plant modification) AREVA TA
5%5% 5%
The first company to have Gen.III+ reactors under
12%
construction (Finland, France, and China) Reactors*
Fleet of reactors developed/under development to Equipment* 9% 39%
address market needs :
EPRTM (1,600 + MWe), ATMEA (1,100+ MWe), 26%
KERENA (1,250 + MWe Boiling Water Reactor) (* 34%
in AREVA NP)
Ability to anticipate the nuclear renaissance
Nuclear services*
(industrial capacity and human resources)
Strategic priorities
Key financials
Target 1/3 of global new build projects for
nuclear power plants
in millions of euros 2007 2008 Change
Deliver on OL3, Flamanville and Taishan
Order book 7,640 7,850 +2.7%
Complete the design of the ATMEA PWR/
Sales revenues 2,717 3,037 +11.8% KERENA BWR reactor through JV with
respectively MHI and E.ON
Operating income* (179) (687) -€508M
Develop additional manufacturing capacities
% Sales (6.6%) (22.6%) -16 pts
to build supply chain certainty
Op. FCF before tax (528) (591) -€63M
Develop Renewable Energies Business Unit
Optimise costs structure
* Including the €749M OL3 Provision
> Overview – April 2009
27
28. AREVA is present on the key battlefields
Main nuclear programs announced worldwide
France UK Sweden Finland
TM
Olkiluoto 3 (EPRTM)
Flamanville 3 (EPR ) Target* : 10 GWe by 2020 End of 30 years
under construction atomic ban under construction
EPRTM selected by EDF and pre-
Penly: 2nd EPRTM by 2017 selected by E.ON for their UK 1 new reactor to be
projects built – Call for tender
TM
3rd
Possible EPR
in progress
Canada
Target* : more
China
than 8 GWe
from 2014 18 reactors under
construction o/w 2 EPRTM
Call for tender
in progress Target* : 40 GWe by 2020
US
India
32 COL** applications
in progress 6 reactors under construction
TM
EPR selected Target* : 50 GWe by 2050
by 5 utilities (7 units)
MoU with NPCIL for up to 6
EPRTM
Italy
South Africa
Target* : 8 to 10 new
Jordan
large reactors by 2030
Emirates
Target* : 20 GWe
EDF-Enel JV to build Target: 1 Plant by 2015
by 2025 Preparation
at least 4 EPRTM
of the EPRTM project with
Call for tender in
Call for tender on
SUEZ and TOTAL
progress (4 bidders)
hold
Countries where EPRTM are under construction
(*) : Nuclear generation capacity announced by countries
Countries where nuclear programs are announced with opportunities for AREVA (**) : Construction and Operating License
> Overview – April 2009
28
31. 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
> Overview – April 2009
31
32. 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
> Overview – April 2009
32
33. 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
> Overview – April 2009
33
35. Bridging the Gap: Supply Chain Certainty
An integrated manufacturing approach
Continuous deliveries of quality products and process improvements for
existing plants and new build projects
Chalon Saint Marcel
2900m²
30 years of operations
extension
Workshop: 39,000 sqm
in 2006
Reactor Pressure Vessels,
Steam Generators, Pressurizers, Safety Injection Accumulators
Acquisition
Sfarsteel (Creusot Forge)
in 2006
Heavy forging and machining
Upgrade
Workshops: 85,000 sqm (4 sites)
underway
JSPM Plant
upgrading
Coolant pumps and control rod drive mechanisms for reactors
underway
Workshop: 13,000 sqm
(€60 M)
Newport News (USA)
$363M
Start of operation: 2012
announced
Workshop: 300,000 ft²
2008
Reactor Vessels, Steam Generators, and
Pressurizers
Agreement with Japan Steel Works (Japan)
announced
JSW to supply AREVA until 2016 and beyond with large forged
parts, essential for the manufacture of nuclear components
2008
Friendly acquisition by AREVA of 1.3% of JSW stock
> Overview – April 2009
35
36. Our renewable energies offers
Bioenergies
Wind power Hydrogen power
Design & deliver biomass Develop Hydrogen
Become a major player
fired power plants world Technologies for market
in offshore wind energy
wide introduction
AREVA Multibrid in Germany Rich and diversified Helion, France
experience: Brazil, Western
5 MW off-shore specific Strong R&D capability
Europe and India
design (PEM technology)
JV Adage with Duke Energy
Selected for major wind Developing next generation
in the US
parks covering nearly 270 Storage solutions
turbines One of the largest install
base in the world: 2,900 MWe
in 100 power plants
> Overview – April 2009
36
37. Back-End division -
An unchallenged leadership
Strengths & issues Sales – 2008 split
Cleanup
Nr 1 worldwide in both closed and open Engineering
3% 6%
cycles nuclear wastes recycling
Highly recurrent sales due to long term Logistics
contracts 14%
Main investments completed
Technology transfer through long term
78%
partnership: e.g Japan (Rokkasho Mura)
Recycling
Export of AREVA knowledge on promising
markets in 2008 (UK and USA)
Key financials Strategic priorities
Optimize industrial efficiency
in millions of euros 2007 2008 Change
of the two main plants (La Hague and Melox)
Order book 6,202 7,784 +25.5%
Market closed-cycle technologies in
the new US (GNEP) and China back-
Sales revenues 1,738 1,692 -2.7%
end policies
Operating income 203 261 +28.6%
Capitalize on AREVA trade mark to win
% Sales 11.7% 15.4% +3.7 pts
management contracts
Op. FCF before tax 172 422 +€250M
> Overview – April 2009
37
38. Back End market combines recycling, final
disposal and “wait-and-see” solutions
Difference in costs between closed and open cycles is impactless
on the kWh cost
Back-end management costs represent less than 6% of the overall
nuclear kWh cost
When choosing the closed cycle:
96% of the materials can be recycled
Wastes volumes are divided by a factor 4 to 5
Radio-toxicity of long term wastes is reduced by a factor 10
High public acceptance
Safety solution with 40 years of proven industrial track record
> Overview – April 2009
38
39. More nuclear countries now consider
recycling as an option
2004 2010 ?
T/Year (1) T/Year (1)
UK – Netherlands
2 500 4 000
Russia
China US
3 500
UK
Others
2 000
3 000
Eastern
UK – Netherlands
2 500
Europe
Russia
Japan
1 500 China
US Others UK
2 000
Eastern
Asia
countries
1 500 Japan
1 000
Spain Asia
Switzerland 1 000
Spain
France
Belgium
500 Switzerland
France
Belgium
500
Sweden
Germany
Sweden Germany
Finland
0
Finland
0
Direct Interim Recycling
Direct Interim Recycling
storage storage
storage storage
(1) Tons of used fuel unloaded per year, including Light Water Reactors and «Advanced Gas Reactors »
> Overview – April 2009
39
40. International recognition for AREVA’s leadership
2008 highlights
USA
5 contracts awarded by the DOE
Japan
Savannah River: construction of a MOX plant
Savannah River : treatment and disposal of Hot testing at Rokkasho Mura
radioactive liquid wastes at the DOE (sister plant of La Hague)
Hanford Tanks: participation in site cleanup MOX fuel contract with Kansai
and dismantling through 2020
Global Nuclear Energy Partnership: feasibility
studies on the closed cycle
Yucca Mountain: Management of the future
disposal site
United Kingdom
Sellafield site: AREVA & partners selected
by NDA
China
Management and operation of the Cumbria site
CNNC – China: progress
as part of the UK Nuclear Waste Management
on feasibility studies for
consortium (low-level radioactive waste)
an 800 MT recycling plant
> Overview – April 2009
40
41. T&D division -
Long term outlooks still positive
Strengths & issues Sales – 2008 split
A full fledged player: products & solutions
for high & medium voltage technologies
Systems
A global footprint with presence in 160 countries
31%
Strong position in the electrical utilities segment
53%
Number 1 in HVDC (excl. China) Products 10%
Number 1 in India Automation
6%
Continued R&D effort
Services
Cyclicality exposure, especially with industry
customers
Key financials Strategic priorities
Grow faster than the market
in millions of euros 2007 2008 Change
Capture opportunities generated by
Order book 4,906 5,715 +16.5%
the crisis
Sales revenues 4,327 5,065 +17.0%
Adapt industrial footprint to the
Operating income 397 560 market
+41.1%
% Sales 9.2% 11.1% +1.9 pts
Invest continuously in R&D
Op. FCF before tax 233 -20 -€253M
> Overview – April 2009
41
42. 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
> Overview – April 2009
42
43. 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
> Overview – April 2009
43
44. Agenda
1. Introduction
2. AREVA in a world in crisis
3. Performances and objectives by division
4. Financials
5. Appendixes
> Overview – April 2009
44
45. Strong commercial performance in 2008
Key contracts awarded
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
> Overview – April 2009
45
46. 2008 key data by division
Sales by division Operating income by division
€13,160M €417M
5,065
Transmission
& Distribution Front-End
3,363
3,037
26%
1,692
39%
560
453 261
-687*
23%
13%
Front R&S Back T&D
Reactors & - end - end
Back-End Services
Sales Operating income
* Including the €749M OL3 Provision
> Overview – April 2009
46
47. AREVA heavily invests for securing
the future of its customers
Technology
R&D spending, in millions of euros
1,051
813**
669*
582
% of 5.7% 6.2% 6.8% 8.0%
Sales
2005 2006 2007 2008
Mining and conversion Generation III treatment and recycling plant
New generations of fuel T&D: ultra high voltage, new products
Additional reactor types Fuel cells and improved wind technologies
* excluding the acquisition of the ultra-centrifugation technology
** excluding R&D projects acquired through UraMin
> Overview – April 2009
47
48. Significant investment program required to sustain
AREVA’s strategic positions
2009 Budgeted Investments
Investments 2006-2008
€2,7 Bn
Others
5%5%
Secure T&D profitable
15%
15% growth
€1,756 M 15%
15% Sell our reactors
Adapt our enrichment
€1,334 M*
€1,325 M
18%
18% industrial capacities to the
evolution of the market
Secure access to
25%
25% uranium resources
Security & Maintenance
22%
22% of existing assets
2009
2006 2007 2008
Key investments in 2009 include
Maintenance capex for existing industrial assets (La Hague, Melox, GBI…)
Access to uranium resources through a consistent portfolio of mines (Canada, Africa, Kazakhstan)
Development of enrichment facilities with centrifuge technology (GB II in France and Eagle Rock in the USA)
EPRTM licensing in the US and the UK
Manufacturing capacity extension (for both nuclear and T&D activities)
* Excluding acquisitions
> Overview – April 2009
48
49. 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)
> Overview – April 2009
49
50. 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
End-of-life-cycle
(4,003)
cash flow Dividends
(2,049) Siemens
Other
put
items
option
(5,499)
> Overview – April 2009
50
51. Capital Structure
CDC
4%
CEA + FRENCH
EDF
STATE + ERAP
2%
87%
Total
1%
Investment
Certificate Holders
(free float)
4%
Employees
2%
> Overview – April 2009
51