December 21, 2014 1:14 AM ET

Oil, Gas and Consumable Fuels

Company Overview of Urenco Limited

Company Overview

URENCO Limited provides services to enrich uranium to offer fuel for nuclear power utilities in the United Kingdom, Germany, the Netherlands, and the United States. The company supplies uranium enrichment and associated services for its customers generating nuclear energy, as well as sells uranium components of enriched uranium product. It is also engaged in the research, development, manufacture, and installation of plant and equipment for the provision of enrichment services. The company was founded in 1970 and is headquartered in Stoke Poges, the United Kingdom.

URENCO Court

Sefton Park

Bells Hill

Stoke Poges,  SL2 4JS

United Kingdom

Founded in 1970

1,500 Employees

Phone:

44 1753 660 660

Fax:

44 1753 660 772

Key Executives for Urenco Limited

Chief Executive Officer and Executive Director
Chief Financial Officer
Chief Executive Officer of Urenco USA Inc
Managing Director of Urenco Deutschland Gmbh
Managing Director of Urenco Nederland Bv
Compensation as of Fiscal Year 2014.

Urenco Limited Key Developments

Urenco Limited Announces Unaudited Consolidated Earnings Results for the Six Months Ended June 30, 2014; Provides Revenue Guidance for the Second Half of 2014

Urenco Limited announced unaudited consolidated earnings results for the six months ended June 30, 2014. For the period, revenue from sale of goods and services was €523.5 million, income from operating activities was €180.9 million, income before tax was €127.0 million and net income relating to the period attributable to equity holders of the parent was €106.4 million or €0.6 basic and diluted earnings per share against revenue from sale of goods and services of €384.4 million, income from operating activities of €124.6 million, income before tax of €61.7 million and net income relating to the period attributable to equity holders of the parent of €43.0 million or €0.3 basic and diluted earnings per share for the same period a year ago. Net cash flow from operating activities was €339.5 million against €221.9 million a year ago. Purchases of property, plant and equipment was €214.5 million against €198.2 million a year ago. EBITDA increased by 19% to €380 million as compared to the first six months of 2013 against €319 million a year ago, mainly due to higher revenues. The increase in cash generated from operating activities was mainly due to the higher level of sales in the period and a positive movement in working capital. Following the increased revenue level in first half of 2014, revenues in second half of 2014 are expected to be lower than second half of 2013 reflecting the phasing of customer delivery patterns.

Urenco Limited Announces Consolidated Earnings Results for Full Year Ended Dec. 31, 2013

Urenco Limited announced consolidated earnings results for full year ended Dec. 31, 2013. For the year, the company reported revenue from sales of goods and services of €1,514.60 million, income from operating activities of €558.30 million, income before tax of €463.90 million, net income for the year attributable to the owners of the company of €336.60 million or €2 per basic and diluted share, net cash flow from operating activities of €744.30 million, purchases of property, plant and equipment of €438.60 million, purchase of intangible assets of €1.90 million compared to the revenue from sales of goods and services of €1,601.40 million, income from operating activities of €616 million, income before tax of €533.70 million, net income for the year attributable to the owners of the company of €399.80 million or €2.4 per basic and diluted share, net cash flow from operating activities of €1,003.20 million, purchases of property, plant and equipment of €432.90 million, purchase of intangible assets of €11.0 million for the previous year. In 2013, the group's capital expenditure was €587 million compared to the €628 million for the previous year. EBITDA was €967.9 million compared to the €1,012.6 million for the previous year.

Urenco Stake Sale Stalled

Urenco Limited stake sale has been stalled again. The Government's plan to sell off its stake in Urenco Limited has stalled for a second time, after an MP in the Dutch parliament said she could see no reason for the sale. At the weekend Mei Li Vos, an MP in the Dutch coalition government, told the Telegraph that she did not think the £9 billion price tag for the business was high enough. "The only argument that has been raised in favour of a sale is remaining friends with the British and for financial motives, and I do not believe this is reason enough to sell this sensitive asset," she added. A spokesman for the UK government said, "We continue to work with the Dutch government towards a sale. These discussions remain positive."

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