French nuclear engineering giant Areva SA said Thursday its net profit fell slightly last year after delays and cost overruns at a major reactor project in Finland led to hundreds of millions of euros in new losses.
Paris-based Areva, the world's largest nuclear reactor builder, reported net profit of euro552 million ($754 million) for 2009, down from euro589 million in 2008.
Areva's earnings were hit by a euro550 million charge in the first half to cover additional construction delays on the 1,600-megawatt Olkiluoto 3 reactor it is building for Finnish power company TVO. The reactor, which had originally been scheduled to start operations last year, has accumulated euro2.3 billion in losses.
The company now says the project's final cost and completion date remain uncertain.
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