Results of the COGEMA Group for FY 2000
April 12, 2001
The Board of Directors of COGEMA, meeting on 10 April 2001, with Anne Lauvergeon as chairperson, approved the consolidated financial statements for FY 2000.
Consolidated sales rose 18% to 5.947 billion euros (39,012 billion French francs), compared with 5.054 billion euros (33,154 billion French francs) in 1999. International markets accounted for 45.3% of sales, up from 41.2% in the preceding year. Net operating income was 266 million euros (1,747 billion French francs), equivalent to 4.5% of sales, compared with 101 million euros (662 million French francs) and 2% of sales in 1999. This strong growth reflects an increase in the operating income of the Group's own activities and the consolidation of its 34% interest in FRAMATOME.
As expected, the acquisition of this interest at the end of the preceding year had a positive impact on the results for 2000. Besides the investment in FRAMATOME, the 26% interest in ERAMET, which is accounted for by the equity method, is included in the financial statements. The performance of both these companies was good in 2000.
The net income of consolidated companies was 292 million euros (1,914 billion French francs), compared with 183 million euros (1,196 billion French francs) in 1999. The share of net income attributable to the Group was 256 million euros (1,676 billion French francs), compared with 154 million euros (1,004 billion French francs) in 1999. Outlook A prime objective of the company is to increase net operating income.
Its new organization and the vigorous cost-cutting plan it has initiated will help to achieve this goal. The acquisition of the American company CANBERRA at the beginning of 2001 makes the COGEMA Group the world leader in the nuclear measurement market. Meanwhile, the Group is actively working with the other parties involved to prepare the launch next autumn of the industrial group provisionally named TOPCO.