Nuclear giant Areva reports flat 1st half earnings

AP News
Posted: Jul 24, 2013 12:42 PM

PARIS (AP) — Nuclear manufacturing giant Areva says it made zero profit in the first half of the year, though says sales are on the rise as the industry slowly recovers from Japan's 2011 nuclear accident.

The company, run by the French state, reported Wednesday revenues of 4.7 billion euros ($6.2 billion) in the first half of 2013, up 10 percent from 4.3 billion euros in the same period last year.

Its overall net profit was zero, down from 80 million euros for the first half of 2012, due to higher one-time expenses.

CEO Luc Oursel said Areva is "on track for growth" despite "uncertainties of the energy market."

The company struggled after the earthquake and tsunami at the Fukushima power plant forced many countries to rethink their reliance on nuclear energy.