Areva lowers earnings outlook for 2013

Areva (Euronext: CEI) has lowered its 2013 earnings outlook, citing financing delays in renewable energy projects. However, it reiterated its goal for “break-even free operating cash flow before tax” in 2013 and for revenue growth of 3.0 percent to 6.0 percent in its nuclear business next year.

The French power equipment giant told its shareholders it expects to see sales of about $795m from renewables next year, roughly the same as 2012’s figure.

Luc Oursel of Areva
The company had previously foreseen revenues above €$989m.

Areva says the shortfall is “due to the time required to set up financing for certain customer projects, delaying their execution”.

For more power business news

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...