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TENEX Summarized 2015 Preliminary Results

Published 22 March 2016 | By TENEX

In 2015 TENEX demonstrated positive business dynamics in tough political and economic environment.

According to preliminary estimates, TENEX's export volume in 2015 totaled nearly USD 2.6 billion, and the global market proceeds were USD 2.7 billion, which is USD 500 million more than the similar figure in 2014.

A total of 65 shipments of uranium products were delivered to customers in fourteen countries. Nineteen new transactions were entered with thirteen customers in nine countries. The aggregated portfolio of long-term orders in comparable prices is estimated at nearly USD 20 billion.

In the framework of optimizing TENEX's sales network in the European region, the Company's 100 per cent subsidiary - INTERNEXCO GmbH was established with the head office in Zug, Switzerland.

The issues of developing transport and logistics infrastructure are traditionally in the focus of TENEX attention, and 2015 was no exception. Having completed pilot testing of a new route for uranium products shipments to Asian and Pacific Region (APR) via Vostochny seaport in Maritime Territory, TENEX commenced using on a regular basis the Russian Far East transportation corridor - six shipments of uranium products were successfully delivered to APR customers.

While implementing the project on developing a transport and logistics complex in the Western direction, TENEX successfully performed in 2015 a pilot shipment of uranium products via Ust Luga seaport to Germany and Sweden, and confirmed in practice a possibility of its use for regular commercial deliveries of products by Russian nuclear industry.

In the first six months of 2015 the Company drew the pre-export syndicated loan of USD 300 million. The transaction was coordinated by Deutsche Bank AG, the lenders were Deutsche Bank AG, JSC Nordea Bank and Soci?t? G?n?rale S.A. The borrowed funds will be primarily used for addressing corporate issues.