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9.2 Situation and activities of the company and its subsidiaries by business segment during the year
OPERATING AND FINANCIAL REVIEW
09
9.2.5.
STATEMENT OF INCOME
9.2.5.1.
REVENUE
(in millions of euros)
2016
2015
Change
2016/2015
Consolidated revenue
10
33
-23
AREVA’s revenue (restated for operations held for sale) amounted to 10million euros
in 2016, compared with 33 million euros in 2016. It corresponds mainly to sales
of services. The year-on-year change is mainly due to the drop in Bioenergy sales.
As a reminder, in accordance with the provisions of paragraph 32 of IAS 11, AREVA
stopped recognizing the revenue and costs of the OL3 contract as a function of its
percentage of completion. Revenue recognized for the OL3 contract has currently
stabilized at the level reached at June 30, 2013.
9.2.5.2.
GROSS MARGIN
The group’s gross margin (restated for operations held for sale) was -408 million
euros, compared with -917 million euros in 2015. Gross margin for 2016 was
impacted in particular by an additional loss at completion of 116 million euros for
the Olkiluoto 3 EPR linked with net excess operating costs incurred over the period.
(in millions of euros)
2016
2015
Change
2016/2015
Gross margin
(408)
(917)
+509
Percentage of consolidated sales
n.s.
ns
ns
9.2.5.3.
RESEARCH AND DEVELOPMENT
AREVA’s research and development expenses for 2016 (restated for operations
held for sale) represented 13 million euros, as in 2015.
9.2.5.4.
MARKETING AND SALES, GENERAL AND
ADMINISTRATIVE EXPENSES
AREVA’s marketing, sales, general and administrative expenses totaled 135 million
euros in 2016, compared with 91 million euros in 2015. In 2016, general and
administrative expenses included 121 million euros in costs kept within AREVA SA
and not passed through to the subsidiaries. They are not representative of the costs
AREVA SAwill have to bear once the restructuring operations have been completed.
9.2.5.5.
OTHER OPERATING INCOME AND EXPENSES
Other operating income and expenses represented net income of 115million euros
in 2016, compared with a net expense of 266 million euros in 2015.
Other operating income and expenses mainly included a provision of 180 million
euros charged in 2015 for anticipated costs in connection with the plan to transfer
the OL3 contract from AREVA NP to AREVA SA, which was reversed in 2016
because the plan was not implemented.
Restructuring costs were higher in 2015 than in 2016, as was goodwill and other
asset impairment.
9.2.5.6.
OPERATING INCOME
Taking into account the items described above, the net operating income of the
continuing operations came to -442 million euros at the end of 2016, compared
with -1.287 billion euros at the end of 2015.
2016 AREVA
REFERENCE DOCUMENT
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