COGEMA in 1999 - Consolidated sales revenue: FF 33,154 million - Net Result (Group share): FF 1,004 million
April 19, 2000
1999 Statement of Accounts
COGEMA consolidated sales revenue for 1999 amounted to FF 33,154 million (Euros 5,05 B), up 5.5% from 1998 (up 0.7% with unvarying perimeter of consolidation and exchange parities). Foreign sales accounted for FF 13,649 million (Euros 2,08 B), i.e. 41.2% of consolidated sales revenue and were up 7.3% from the previous year. The consolidated net profit was FF 1,069 million or Euros 164 M (compared with FF 1,282 million in 1998). The net result (Group share) was FF 1,004 million (Euros 154 M), compared with FF 1,178 million in 1998.
In 1999, COGEMA acquired a 22.6% share in ERAMET, a 50% share in Uranerz Exploration & Mining in Canada and a 46.1% share, equal to that of EDF, in Clemessy. Consistently with announcements made public last July, concerning both the restructuring of the capital of FRAMATOME and the establishment of closer ties between the two Groups, COGEMA acquired a 34% share in FRAMATOME at the end of the year, thus becoming the main industrial shareholder of FRAMATOME.
The extension of the COGEMA Group perimeter will take full effect in 2000. The ERAMET shares were acquired from ERAP (a wholly state-owned body). In exchange, ERAP acquired a 7.2% share of COGEMA, by means of a reserved increase in capital. After further but minor adjustments between shareholders, the present ownership structure of COGEMA is now: CEA-Industrie 74.7%, TOTALFINA/ELF 14.5%, ERAP 7.6%, TECHNIP 3.2%.
Appointment of new Board members Following the retirement of Mr Pierre Carlier and the resignation of Mr Yannick d'Escatha, Mr François Roussely, Chairman & CEO of Electricité de France (EDF) and Mr Pascal Colombani, CEA administrator general, were respectively appointed to the Board.