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UPDATE 1-Areva 9-month revenues fall 3.5 pct
October 27, 2011 / 5:31 PM / 6 years ago

UPDATE 1-Areva 9-month revenues fall 3.5 pct

* 9-month sales down 3.5 percent to 5.95 bln euros

* Q3 sales down 2.9 percent to 1.95 bln euros

* Backlog down 1 percent at 2.7 bln euros at Sept end (Adds details)

By Caroline Jacobs and Christian Plumb

PARIS, Oct 27 (Reuters) - French nuclear group Areva posted a 3.5 percent decline in nine-month sales on Thursday, squeezed by weakness in its uranium mining and waste-processing businesses.

Revenues reached 5.95 billion euros ($8.4 billion) and were down 1.5 percent on a like-for-like basis, state-owned Areva said in a statement.

For the third-quarter alone, revenues fell 2.9 percent to 1.95 billion euros, Areva said, without providing details about specific business lines’ performance for the period.

Areva’s order backlog fell 1 percent to 42.7 billion euros at the end of September from three months earlier, and remained stable compared with the same period at the end of September 2010.

Since the nuclear disaster at Japan’s Fukushima power plant in March, order cancellations have been just 301 million euros, Areva said.

Countries such as Germany, Switzerland and Italy have shelved nuclear plans after the incident, but others such as Britain, Poland or the Czech Republic said they would go ahead with the construction of new plants.

Areva is assessing what consequences Fukushima will have on its business and will announce its five-year strategy plan in December.

But the company is still betting on an increase in demand for energy due to a growing world population and needs in rapidly emerging markets, while nuclear power generation has the advantage of not emitting greenhouse gases.

Chairman and Chief Executive Luc Oursel has said Areva was actively negotiating possible deals in countries such as China, India and Britain.

Shares in Areva closed up 5.26 percent at 22.50 euros before the release of the results, as the CAC 40 index closed 6.28 percent higher after European Union leaders struck a deal to help resolve the euro zone debt crisis. ($1 = 0.707 Euros) (Reporting by Caroline Jacobs and Christian Plumb; Additional reporting by Elena Berton; Editing by Will Waterman)

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