Areva holds its financial targets for 2015 and 2016 due to slow restart of the Japanese nuclear reactor project, delay in a Finnish nuclear project and slow developments on the nuclear market. Despite being up by up to 3.2 percent on Tuesday, the shares dropped after the suspension of announcement before trade started.
The company revealed it had toned down its previsions for the upcoming and new projects, services for currently existing nuclear reactors and nuclear fuel recycling export projects. According to a statement released by the company, they’re trying to enhance their performance plan so that they can respond to unfavorable market condition.
Before the company would release its annual results, they said they are reviewing their midterm funding plan as well as their strategic plans. They added that they would present a new financial outlook for the period of 2015 to 2017.
The company predicts good pretax cash flow in February of 2014 as well as a large increase in free operating cash flow before annual tax for 2015-2016. In addition to this positive information, they also revealed organic revenue increase of up to five percent this year and an improvement of up to 15 percent EBITDA against revenue ration in the next year.