2010 Reference document
"AREVA at a glance" brochure
"2010 figures" economic, social, societal and environmental data
2007 figures: Economic, social, societal and environmental data
2006 figures: Economic, social, societal and environmental data
2009 Annual Results
2010 Annual Results
"Business & Strategy overview" presentation (February 2012)
"AREVA in 2010" Report on responsible growth
AREVA's response to the Carbon Disclosure Projetc 2010
Operating cash flow
Free operating cash flow (amount of cash flow generated by operational activities) before taxes made available by the group in 2010 totaled ‑1,090 million euros at the end of 2010, compared with -919 million euros in 2009.
Operating cash flow before capex up €548m
Operating cash flow before capex was 923 million euros, an increase of 548 million euros compared with 2009, when it was 375 million euros, due to the visible improvement in EBITDA and working capital requirement:
- EBITDA went from 584 million euros in 2009 to 703 million euros in 2010. Excluding particular items, it was up 481 million euros compared with 2009 on improved operational performance. Gains on disposals and dilution gains related to new minority equity partners in the companies of the Mining-Front End BG contributed 19 million euros in 2010, compared with 382 million euros in 2009;
- The change in operating working capital requirement contributed 239 million euros in 2010, compared with 105 million euros in 2009. The cash generated from customer advances in the Mining-Front and Back End BGs and by inventory optimization in the Mining-Front End BG largely offset the use of customer advances in the Reactors & Services BG. The operating working capital on the balance sheet is +92 million euros.
Operating cash flow before capex by division
| group, in millions of euros | 2010 | 2009 |
|---|---|---|
| Mining - Front End | (252) | (315) |
| Reactors & Services | (639) | (662) |
| Back End | 414 | 288 |
| Renewables Energies | (309) | (91) |
| Corporate | (305) | (139) |
| Total | (1,090) | (919) |
Deployment of the capital spending program
The change in gross capex (excluding acquisitions) from 1.780 billion euros in 2009 to 1.966 billion euros in 2010 is due to the ramp-up of construction programs, particularly in Enrichment.
In 2010, almost 60% of the group's capital spending was on sites in France.
The acquisitions made in Renewable Energies in 2010 in the amount of 210 million euros (100% of Ausra and the remaining 49% of Multibrid) bring total gross capex to 2.176 billion euros, compared with 1.808 billion euros in 2009.
Net capex came to 2.013 million euros in 2010, compared with 1.294 billion euros in 2009, reflecting asset disposals of 163 million euros in 2010 (mainly from the sale of 2% of the Georges Besse II plant), compared with 514 million euros in 2009.
