Results of Activities in the Reporting Period

Income by Core Business Activities

Income by core business activities, RUR mln
Item 2009 2010 2011 2011 on
2010, %
Revenue from uranium operations 76,346 76,108 68,976 90.6
domestic market 12,402 1,992 0 0
international market 63,944 74,116 68,976 93.0
Other revenue 3,971 7,153 1,538 21.5
Total 80,317 83,261 70,514 84.7

The Company's main revenue is generated by sales of uranium production, which accounted for 98% of total revenue. The currencies of the majority of the contracts are US dollar and euro, while the share of other currencies is insignificant.

A 7% decrease in the revenue from the uranium sales to the foreign market in 2011 over 2010 was determined by the following factors:

  • a change in the sales structure – the sales of natural uranium made the biggest impact on the changes in the sales structure: in 2010 the Company sold the natural uranium, received from the Japanese energy companies on account of the payment for the raw component of the EUP, to the foreign markets (revenue from the sales of the raw material is included into the "Revenue from uranium business" section, but is not included into the "Export" section, since the sale is made outside the territory of Russia); in 2011 due to a cancellation of a number of deliveries of enriched uranium under contracts with Japanese clients, sales of raw materials were not held.
  • changes in exchange rates – average weighted rate for factual shipments in 2010 – 30.5 RUR/USD, while in 2011 it equalled 29.3 RUR/USD.

According to the decision made by the heads of the industry the shipments of uranium products in the internal market have been finished in 2010. In the reporting year no such shipments have been sent.

The key factor in the reduction of the other revenue in 2011 compared to 2010 was the fulfillment of the contract for providing the technical assistance in the 4th construction stage of a gas centrifuge plant in China.