OREANDA-NEWS. July 08, 2013. ARMZ Uranium Holding Co. published its operational indicators for 2012 and consolidated financial statements compiled under the international standards, as well as the Independent Auditor’s Opinion prepared by KPMG.
 
Key operational indicators
 
Uranium production rose by 6.78% - from 7,091.2 to 7,572.2 tons of uranium. Similar to 2011, the growth has been mainly ensured by performance of the enterprises within the Canadian company Uranium One Inc. JSC Khiagda also increased the volumes of uranium production by 24.5% - up to 331.7 tons of uranium.

The reduction in the operational indicators of JSC PIMCU has been attributed to lower content of uranium in the recoverable ore.  However, through implementation of comprehensive measures aimed at stabilizing the plant’s performance, volume of uranium production at JSC PIMCU has been retained at the level of over 2,000 tons. Alongside with that, 2012 saw development and approval by the State Corporation Rosatom of the JSC PIMCU Mid-Term Development Programme Until 2020, which is destined to enhance efficiency of JSC PIMCU’s activities.

Key financial indicators
 
Sales revenue increased by 7.41% - up to 47.8 billion rubles. EBITDA grew by 21.7% - up to 14.1 billion rubles. Net Operating Profit After Tax (NOPAT) increased by 35.2% - up to 4.2 billion rubles.

Net loss of 9.2 billion rubles is mainly due to depreciation of the goodwill formed as a result of acquisition of the controlling stake in Uranium One Inc., which, in its turn, is primarily explained by the drop in the natural uranium prices in the wake of the events at Fukushima NPP, Japan.

“The growth of the operational indicators, sales revenue and EBITDA during the recent years has proved the ability of Rosatom’s mining arm to effectively solve its key task of ensuring the procurement of resources for actively developing Russia’s nuclear industry,” noted Vladimir Verkhovtsev, Director General of ARMZ.