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TENEX - Preliminary Results -2017

Published 03 January 2018 | By TENEX

The Joint Stock Company TENEX (the “Company”) has drawn up preliminary results of its 2017 activities.

10 new contracts worth circa USD 1.3 billion were engaged with nine companies from five countries.

Based on preliminary results, the Company's sales volume somewhat reduced compared to similar indicators in 2016 and will amount to circa USD 1.7 billion that is primarily due to the continuing situation of sinking market quotations for natural uranium and uranium enrichment services, and also planned termination in 2016 of several contracts for enriched uranium product (EUP) deliveries.

The Company fulfilled the 2017 program of export/import shipments in full volume and in the established timeframe. A total of 65 product shipments to customers were completed while fulfilling the contractual obligations.

The Company continued its efforts on forming a new direction of its activities: promotion to foreign markets of back-end products and services (spent nuclear fuel and radwaste management) and decommissioning of nuclear and radiation dangerous facilities. In February 2017 the Government of the Russian Federation by its decree No.211-r appointed TENEX as the sole organization authorized to engage foreign trade transactions connected with imports into RF of irradiated fuel assemblies from nuclear reactors.

In 2017 the Company was actively engaged in a dialog with the Japanese counterparts on defining and content-filling of prospective joint projects. In September 2017 within the framework of the Far Eastern Economic Forum at Vladivostok ROSATOM's General Director A.E. Likhachev and President of the Japanese Atomic Energy Agency T. Kodama signed a Memorandum on joint activities to reduce radioactive waste. TENEX was actively involved in preparation of this document.

In November 2017 the specialists from Intercertifika-TÜV, the Russian representative office of TÜV Thüringen e.V. performed a certification audit of TENEX's management system conformity with the requirements of ISO 9001:2015 and ISO 14001:2015. Based on the audit results, a new direction was included in the Company's integrated management system - promotion on the world market of back-end products and services.

In 2017 the total volume of the Company's purchases not directly related to buying nuclear materials exceeded RUR 2.81 billion. Use of competitive procedures yielded the economic effect circa RUR 0.44 billion.