Areva slashes earnings forecast for 2013

The French energy company Areva has reduced its 2013 earning estimates from 1.25 billion euros ($1.66 billion) or more down to 1.1 billion euros ($1.46 billion), Bloomberg News reports.

The company cited a projected drop from 750 million euros ($993.6 million) to 600 million euros ($794.88 million) on unspecified renewable energy projects in explaining the change in forecast. Areva has been selling assets and cutting expenses following years of construction delays at the 1,600 MW Olkiluoto reactor 3 project in Finland.

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