AREVA Roadmaps 2016-2020

AREVA presents its 2016-2020 roadmap and announces the group’s restructuring through the creation of a new entity refocused on the nuclear fuel cycle.

The group’s restructuring plan:

• Plan to create a separate entity, NEW CO, through a partial contribution of AREVA SA assets
• Strategic refocusing on the nuclear fuel cycle, with planned asset sales  and plans to withdraw from operations
• Proposed capital increases for AREVA SA and NEW CO in the total amount of €5 bn (subject to European Commission consent)

2016-2020 roadmaps:

• AREVA SA: strengthened capital structure, that will ensure the successful completion of the OL3 project, directly or through a subsidiary, and support non-core projects until finalization
• NEW CO: strategy refocused on profitable nuclear fuel cycle operations that generate cash flow, through implementation of the performance plan and expected long-term market dynamics

In line with the announcements made in February 2016, for the publication of its 2015 annual results, AREVA confirms its plan to restructure the group and to create a separate entity refocused on the nuclear fuel cycle, currently named “NEW CO”.

This morning, during an Investors Meeting in Paris, the group will present its 2016-2020 roadmap, centered on the stages foreseen for its strategic and operational refocusing plan, and its financial objectives for 2020. Also today, the group begins the consultation process with its employee representative bodies concerning the scheduled transactions.

Philippe Knoche, Chief Executive Officer, made the following statement:

“Today, we present the roadmap for AREVA’s continued transformation. This program defines the major stages necessary to the creation of NEW CO, a separate new entity refocused on the Mining, Front End and Back End operations. Pursuant to strategic choices concerning the nuclear industry, the roadmap specifies the conditions for the transfer of AREVA’s reactor-related operations to EDF and the refocusing of our group on fuel cycle management.

Thus dissociated and simplified in their organizations, AREVA and NEW CO will each benefit from a capital increase in the combined amount of 5 billion euros (subject to the approval of the European Commission) and will have resources suited to their mission and their strategy.

By means of the solutions it can provide for uranium supply, for its conversion into fuel, and for nuclear fuel recycling, waste management and dismantling, NEW CO will be in a good position to grow in global nuclear markets. The strengthened capital structure, the new industrial plants, and the reinforcement of NEW CO's technology and innovation base will underpin this strategy.

I want to thank the men and women of AREVA who are at the heart of the group’s redefinition now underway. With the support and commitment of all our employees, I am convinced that this action plan will enable us to install our strategy of reconquest and give us a new start on our mission, continually improved, of serving the French nuclear industry and our customers all over the world.”