Foreign orders portfolio for products and services of FE NFC for a 10 year period (as of year-end 2017)
Dear colleagues,
In 2017, TVEL Fuel Company of Rosatom showed solid financial and operational performance, continued to strengthen its positions in the global market, develop new business areas and improve operating efficiency.
Summarizing the 2017 results, TVEL Fuel Company’s revenue amounted to RUB 180.7 billion, which is comparable to the previous year, while the net profit compared to 2016 increased by 19% up to RUB 55 billion. The ten-year export orders portfolio for traditional products increased up to USD 10.8 billion, including the fuel supply contracts for new foreign power units of Russian design: El Dabaa NPP (Egypt), Akkuyu NPP (Turkey), Ostrovets NPP (Belarus).
In cooperation with its traditional partners TVEL JSC continued transferring nuclear power units to the improved, more efficient and up-to-date fuel. The Company signed the contract for introduction of the newly modified second generation fuel assemblies for VVER-440 reactors at the four existing power units of Paks NPP (Hungary), which will increase the economic efficiency of the power plant.
The project of global market launch is ongoing for TVS-K fuel intended for PWR reactors of Western design. Power unit No.3 of NPP Ringhals (Sweden) successfully completed the regular operation cycle of TVS-K in the reactor core, with an agreement reached to expand the pilot operation program.
In 2017, the Company launched the projects of strategic importance aimed at improving the operational efficiency. One of such projects involves the concentration of mechanical enterprises of TVEL Fuel Company within the production sites of Tochmash VPA (Vladimir region) and Kovrov Mechanical Plant (Kovrov). All enterprises of the nuclear fuel division accomplish the projects aimed at reducing production sites areas and costs.
The year 2017 laid the foundation for the dynamic development of new business areas, TVEL Fuel Company started the process of creating industry-based integrators. Integrator companies were created in such areas as Additive Technologies and Power Storage Devices with the view of establishing the Oilfield Service integrators and in a number of other areas.
The Company continues its work on creation of new and modified products for our clients in our major business area - nuclear fuel fabrication. The key areas of scientific and technical activities for the near future include the creation of new designs and modifications of fuel assemblies for VVER type reactors, design improvement for TVS-K fuel, development and market launch of the products with mixed uranium-plutonium fuel for thermal and fast neutron reactors (MOX fuel, REMIX fuel, MNUP fuel), as well as the creation of accident tolerant fuel. Market launch of an efficient tolerant fuel based on the existing FA for Russian and foreign design reactors will open a new historical page in terms of reliability and safety improvement of the nuclear power industry worldwide.
TVEL Fuel Company gives traditional priority to the sustainable development of the cities and the regions where our enterprises are located. Along with charitable activities and implementation of social projects, our work in the regions is aimed at creating sustainable business partnerships. That means investment inflow, creation of new enterprises and jobs for the territories which will be a powerful impetus for social and economic development.
2017 was officially declared the Year of Ecology in Russia. In this regard TVEL Fuel Company developed and successfully implemented a series of organizational, scientific, technical, educational and industrial events to protect the environment. These projects were carried out in parallel with the traditional work to eliminate the nuclear "legacy" of the first Soviet atomic project, as well as to ensure radiation safety and reduce the impact of enterprises on the environment. TVEL Fuel Company spent RUB 2.2 billion for environmental protection in 2017.
In 2018 TVEL JSC and its subsidiaries will continue their dynamic work on implementation of all previously launched projects with the aim to introduce TVEL Fuel Company to a new efficy level, while improving current products and creating new types of products, diversifying its business and classically reliable fuel supply to NPPs both in Russia and abroad.
