* Maintenance supports revenue, despite lack of reactor
* 45 bln order book flat, worth nearly 5 yrs of sales
* Post-Fukushima cancellations double to 936 mln euros
* New renewables division sees sales double to 572 mln
PARIS, Jan 31 French nuclear group Areva
increased revenue in 2012
thanks to maintenance contracts for its large base of existing
reactors, without selling a single new one.
Areva, the world's biggest maker of nuclear reactors, said
its order book was virtually unchanged at 45.4 billion euros, or
nearly five years worth of sales.
Its revenue though grew 5.3 percent to 9.34 billion euros
($12.68 billion) as the reactors and services division, its
largest business unit, saw sales rise 5.5 percent to 3.45
Key contracts included one with French utility EDF
for inspections at its 58 reactors, a contract for ventilation
systems with Canada's SNC Lavalin Nucleaire, and a
contract for control systems for Russian nuclear power plants.
A 10.4 percent increase in nuclear order intake compensated
for 936 million euros of order cancellations following the
Fukushima accident. In 2011, the firm lost orders worth 464
million euros after the March 2011 nuclear accident.
Growing demand for radioactivity measurement systems in
Japan also boosted Areva's 2012 earnings.
Areva is the world's only reactor builder which also mines
and enriches uranium, makes fuel rods and handles nuclear waste
for its clients. This makes it less dependent on reactor sales,
but analysts say that the firm does need to sell reactors to
guarantee future maintenance and services revenue.
Delays and cost overruns at two of its European Pressurised
Reactors (EPR) reactors being built in Finland and France have
hurt Areva's reputation in the reactor building business.
In October, Areva was disqualified from a key reactor tender
in Czech Republic, but the firm hopes to sell two more EPRs in
China and negotiations about the sale of two EPRs in India are
Areva's last major reactor sale was a contract for two EPRs
in Taishan, China in 2007, on track for completion in 2014.
The firm's nuclear fuel division saw revenue slide 10.2
percent to 2.05 billion euros, hit by a fall in uranium
enrichment sales to Japan and lower nuclear fuel sales to
Germany. The division has a huge order book of 18.05 billion
euros, unchanged at nearly nine times sales.
Areva's uranium mining division, unsettled by kidnappings at
its mines in Niger and a French military operation in
neighbouring Mali, saw sales rise 5.5 percent to 1.36 billion
euros, boosted by several long term-contracts with US and Asian
utilities, notably Chinese utility CNNC.
With EDF, Areva signed contracts to supply 30,000 metric
tons of uranium over the 2014-2035 period, and with Emirates
Nuclear Energy Corporation (ENEC) an eight-year supply contract
for enriched uranium.
Areva's recycling division, which ships, treats and recycles
nuclear waste saw sales rise 9.5 percent to 1.73 billion euros.
The firm's new renewable energies division nearly doubled
its sales to 572 million euro, boosted by new offshore wind and