OREANDA-NEWS. April 03, 2012.  In compliance with the Russian legislation requirements, on March 20, 2012 the JSC Techsnabexport (TENEX) published on its website full-year 2011 financial results with an explanatory memorandum and the audit opinion on the balance sheet prepared and certified by FBK company. For details please visit the “Reporting” section of TENEX Website.

In 2011 TENEX has shown a record-breaking amount of foreign currency proceeds from uranium product sales that totaled USD 3.34 billion in absolute terms (in 2010 this indicator was at the level of USD 3.25 billion). Profitability of the Company’s core business increased two per cent in 2011 compared to 2010.

The observed decrease in reported earnings in Ruble equivalent is explained by the volatility of the exchange rates during the year that resulted in decrease in revenue calculated in Ruble terms. 

In addition in 2011 a number of TENEX contracts were accomplished, among them the contract for technical assistance in construction of the fourth line of the uranium enrichment plant in China, the completion of the long-term contract with EURODIF concluded in 1999 as well as the postponement of deliveries for  Japanese utilities in the aftermath of Fukushima NPP accident.