AREVA Takes Further Measures to Strengthen Its Financial Structure

Regulatory News :

Following the downward revision of its financial outlook by 2016, AREVA (Paris:AREVA) takes new measures to strengthen the group’s financial structure and manage debt.

Three types of measures are involved:

• a cumulative reduction in the level of capital expenditure for the 2015-2016 period of 200 million euros. Gross capital expenditure are brought back to less than 1 billion euros per year on average over this period, versus 1.1 billion euros previously, while preserving strategic and safety capital expenditure;
• the disposal of non-strategic activities or minority stakes in projects totaling a minimum of 450 million euros by the end of 2016 (including the disposal of the minority stake in the Euronimba iron mine project in Guinea, now in progress);
• subject to market conditions, the launch of a "hybrid bond” issue in the near future to help prepare for the refinancing of upcoming maturities.

Luc Oursel, Chief Executive Officer of AREVA, said "The work on AREVA’s recovery continues despite the ongoing unfavorable market environment. These new measures reflect the group’s determination to continue to strengthen its financial structure, supplementing the efforts of the past three years to improve operating performance.”

MORE ABOUT AREVA
AREVA is a world leader in nuclear power. The group’s offer to utilities covers every stage of the nuclear fuel cycle, reactor design and construction, and operating services. Its expertise and uncompromising dedication to safety make it a leading industry player.
AREVA also invests in renewable energies to develop, via partnerships, high technology solutions.
Through the complementary nature of nuclear and renewables, AREVA’s 45,000 employees contribute to building tomorrow’s energy model: supplying the greatest number of people with energy that is safer and with less CO₂.

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