AtkinsRealis: orders in the nuclear sector are “sharply increasing”

AtkinsRealis: orders in the nuclear sector are “sharply increasing”
AtkinsRealis: orders in the nuclear sector are “sharply increasing”

Orders in the nuclear sector are up “sharply” at AtkinsRéalis, which announced Thursday that its first-quarter revenues increased by almost 20% compared to last year.

This is what we learn in the financial results of the company, formerly known as SNC-Lavalin, for the first months of 2024.

Revenues for the quarter totaled $2.26 billion, compared to $2.02 billion for the same period last year.

This increase is notably attributable to a “strong increase” in orders in the engineering services and nuclear energy sectors.

“Revenues from the Nuclear Energy sector reached $298.6 million, an increase of 22.2%,” we can read in the document.

The company has therefore revised upwards its outlook for the nuclear sector in 2024. It now expects organic growth in its turnover for this sector of between 15 and 20%, while previous expectations predicted growth between 12 and 15%.

Nuclear power is popular

Around the world, nuclear power is increasingly seen as essential to the transition to clean energy, despite persistent fears over plant safety and radioactive waste management.

In Quebec, the Minister of Energy Pierre Fitzgibbon has himself stated on numerous occasions that nuclear power is “essential” in efforts to decarbonize the planet.

“Unless there are new technologies developing in the future, nuclear is going to be a necessity. The world will not decarbonize without nuclear power. The experts are unanimous. Or we will say no, and in that case we will have to build twenty dams,” he said last May 4 before the Chamber of Commerce of Metropolitan Montreal.

To slow down ?

In an interview with Financial Times last March, the president and CEO of AtkinsRéalis, however, called on governments and industries to temper their enthusiasm for nuclear power, particularly because of the delays and cost overruns that have often been characteristic of reactor construction. .

Archive photo, Chantal Poirier

“We should probably slow down a bit, and spend more time on the planning phase and the execution phase,” Ian Edwards told the English newspaper, in the language of Shakespeare.

But this call to slow down had yet another reason. Highlighting the strong growth of the nuclear sector, Mr. Edwards told the Financial Times that “demand is likely to exceed [la] ability [d’AtkinsRéalis] to answer it.”

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