Profits for Tvel

5 July 2016

Russia's Fuel Company TVEL has published its consolidated financial statement for 2015 produced in line with International Accounting Standards showing a net profit of RUB54.4bn ($836m), 2.7 times more than in 2014 (RUB20.2bn). Consolidated proceeds have increased by 34% to RUB194bn.

This includes the proceeds from nuclear fuel sales amounting to RUB119.96bn (up 40.3%). Some RUB36.6bn, or 31% of the sales, is attributed to NPPs, RUB35bn (29%) to Ukrainian nuclear utility Energoatom, and RUB48.9bn (40%) to 10 other major foreign partners. Proceeds from sales of other uranium-containing products (uranium hexafluoride of "H" grade, U3O8, isotopes, and products based on governmental orders) were RUB24.5bn (up 64.7%) in 2015.

Proceeds from enrichment and conversion services grew by 47.8% to RUB21.7bn. Some RUB7.9bn (36%) of this comes from sales of services to the Russian-Kazakhstani Uranium Enrichment Centre (UEC), RUB13.2bn (61%) from nuclear materials trading company Techsbanexport (Tenex) and RUB415.8m (2%) from the International Uranium Enrichment Centre.

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