French technology firm Areva has released its first quarter results with the nuclear divisions reporting sales revenue of €1.52 billion, down 8.4% from the first quarter of 2006. The company said this change is primarily due to the high Q1-2006 sales revenue in Mining and Enrichment and these effects are expected to be offset over the remainder of 2007.
The Reactors and Services division reported sales revenue of €513 million, down 4% from the first quarter of 2006, mainly reflecting a seasonal lull in the Nuclear Services business. In addition, sales revenue from the OL3 contract dropped due to the percentage of completion accounting method used by the group and the late 2006 revision to the overall construction schedule.
First quarter 2007 sales revenue totalled €2.47 billion.
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