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Veille Stratégique, Areva

Veille Stratégique, Areva. The dollar team – 18 janvier 2010. Areva Group Structure. Front end division. Reactors & Services division. Back End division. Transmission & Distribution division. Concurrence. Concurrence overview. Rosatom. Creation approved in 2007

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Veille Stratégique, Areva

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  1. Veille Stratégique, Areva The dollar team – 18 janvier 2010

  2. Areva Group Structure

  3. Front end division

  4. Reactors & Services division

  5. Back End division

  6. Transmission & Distribution division

  7. Concurrence

  8. Concurrence overview

  9. Rosatom • Creation approved in 2007 • All nuclear Activities of Russia • Civil • Military • Ice-breaker fleet • Two civil subsidiaries: • Atomergoprom: • Complete-cycle corporation • All civil Nuclear activity from Rosatom • Atomstroyexport

  10. Structure of Atomergoprom

  11. Front end

  12. Nuclear design

  13. Product and concurrence • Direct concurrence: LWR • EPR (PWR) • Atmea (PWR) • Kerena (BWR) • Indirect concurrence: HWR • Candu • … • R&D: • Gen IV

  14. EPR • 1600 Mwe PWR • ASN Certified in 2004 • 4 under construction (china, France, Finland) • First Gen III+ under construction • Expect US Certification by 2012

  15. Atmea • Medium power PWR • JV with MHI

  16. Kerena • 1300 MWe BWR • From SWR-1000 design by F-ANP • Support from E.On • Main development in Germany

  17. Westinghouse / Toshiba • AP 1000 • Help Korea to get the KNGR

  18. ABWR • Advanced Boilling Water Reactor • Concept by GE • Built by Toshiba and Hitachi

  19. ESBWR • Economic & Simplified BWR • GEH

  20. AP 1000 • Westinghouse Design • Had NRC certification in 2005 • Unit(s) under construction in China • $8bn deal in 2006 • Technology transfer to China (which Areva refused)

  21. APWR • Advanced PWR • MHI • US Certification expected for 2012 • EUR Certification in Progress

  22. VVER or WWER • Vodo-Vodyanoi Energetichesky Reactor or Water-Water Energetic Reactor • 1000 MWe PWR • AtomStroyExport • Russian exporter • Five units under construction: • China, Iran, Bulgaria, India • Threat: price!

  23. Back end

  24. Historical point • Historical advantage • First reprocessing plant in the world (to be checked)

  25. Finance

  26. Areva Financial Intelligence • Necessity to understand the financial performance of Areva • Necessity to understand the financial environment surrounding AREVA • 1 method developed:

  27. Areva Financial Intelligence • Areva Strengths: • Sustained growth: +10.4% in 2008 • Important backlog: 48.2 €Bn • Worlwide revenue Source : Areva 2009 financial report Source : Document de reference Areva 2008

  28. Areva Financial Intelligence • ArevaWeaknesses: • High Debt: €6,414M (49% of capital in 06.2009) • Strong impact of OL3 program on profit: 64% of 2008 income • LowMargin Source : Areva 2009 financial report

  29. Areva Financial Intelligence • Areva Opportunities: • Nuclear power is a low-cost energy • Importance of carbon footprint • Rarefaction of conventional fossil fuel (Petrol, Gas) Source : CEA website Source : CEA website

  30. Areva Financial Intelligence • Areva Threats: • Global economic crisis: • Lower energy demand • Difficulty to loan money for long term investment • Antinuclear lobby • Germany and Belgium progressively withdraw nuclear power • High competitiveness • Huge investment needed

  31. Clients

  32. Clients – General facts • NuclearActivities There are only a few clients. They are mainly important electricdistributors.Ex : France : United-States : Japan : Great europeanpresence. There are alsousers of researchreactors. • T&D The clients are much more numerous (>30.000 clients) • Great electricitycompanies: PLN (Indonesia) ; Kahrama (Qatar) • Bigelectricityconsumers : Alcan ; Rusal • Transmission companies : NG (United Kingdom)

  33. The strategy concerning clients • Front End Client’swill : to securetheir supplies -> long and mid-termcontracts Rise in the world’s uranium comsuption : • Development of miningcapacities: exploration efforts, formation of geologists, ressources diversification • Development of conversion and enrichment : construction of new industrialfacilities : Comurhex II, Georges Besse II, Eagle Rock (USA) • A success in the transition from gaz diffusion technology to centrifugation

  34. The strategy concerning clients • Nuclear design • Strength : Areva built 91 of the 439 reactors in the world and has shown its capacity to manage huge construction projects since the 80’s. • Areva is present in France, Germany, other european countries, South Africa, China, South America. • There are EPR projects all around the world. But : clients want more and more delay and cost garanties (OL3) A feedback must be made on current projects to avoid making the same mistakes in the future.

  35. The strategy concerning clients • Back end Areva is the leader of the waste reprocessing market. -> great technological and industrial advance (R&D) -> for the clients, reporcessing = more energy independancy, savings, waste and radiotoxicity Strategy : • To promote closed-cycle technologies • T&D branch A great technologic know-how, skills, quality service are appreciated by the Strategy : to continue the geographic deployement, and continue R&D investments.

  36. Suppliers

  37. Suppliers and sub-contractors Strengths • Label Fournisseur AREVA: • AREVA uses this label to obtain a « long-term trust relationship » with its • 25 quality criterees : sustainable development, competitivity… • Investments made for innovation and research, care to safety, security and environment are crucial elements in the • 250 labelized suppliers this year in France and abroad.

  38. Suppliers and sub-contractors Weaknesses • Dependancy : a risk factor • Although the group has implemented measures to limit the impact of a potential breakdown and has covered its exposure through • Business interruption insurance for its industrial units and selects • Breakdown, a work stoppage or an interruption of the supply chain at the group’s industrial units or at a supplier’s location could have a signifi cant negative impact on the group’s financial position and on its ability to respond in optimum manner to customer demand.

  39. R&D

  40. Technology and R&D : strengths Innovation : R&D costs increased of 8 % compared to 2007 With “droit d’usage”: 1 051 millions euros in 2008 Nuclear: 908 millions euros in 2008 (11,2 % of the turnover) Pole T&D: 150 millions euros in 2008 (2,9 % of the turnover, progression of 10,3 % compared to 2007)

  41. Technology and R&D : weaknesses The radiologic impact: maximal limit of 1 mSv/year medium dose : in France 2,4 mSv Evaluation of sanitary risks:

  42. Events: Technology and R&D : weaknesses

  43. Our interview Interview with Pascale Gourmel, responsible of strategic watch in Areva NP R&D

  44. Our interview Information sources CEA, nuclear advisors Professional magazines Data Base Lectures Standards BU documentations Intranet Common data bases Newsletters Experts Patents Foreign Areva offices Clients, INPI bases, PWROG Internet Websites Forums News Legislation Field employees Events, shows, savant societies Suppliers

  45. Thank you !! Any questions ?

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