SASKATOON – Cameco Corp. has come to the end of 2013 having revenues for the year of $2.44 billion and a gross profit of $607 million. The numbers show a 29% and 12% increase, respectively.
The company also managed an upturn in net earnings to $318 million in 2013 from $253 million in 2012. The increase was attributed to higher earnings from the fuel services business, lower exploration expenditures in Australia, and higher tax recoveries due to a decline in pre-tax earnings in Canada.
The gains were partially offset by lower earnings from the electricity business, the $70 million write-down of Talvivaara Mining in Finland, and higher losses on foreign exchange due to a weakening Canadian dollar.
Cameco indicated that sales volumes will average 30 million lb of uranium per year through 2016, with higher committed levels in 2017 and 2018.
Full details of the Q4 and year end discussion is available at Cameco.com.