Areva's debt soars as Finnish flagship continues to founder

French state-owned nuclear corporation Areva admitted this week that the delays and cost over-runs on its ongoing EPR reactor construction site in Finland had "virtually wiped out interim operating profits" according to an article in the Financial Times. Embattled CEO, Anne Lauvergeon, whose job has remained in jeopardy for some time, told the FT that Areva had suffered a 97% fall in operating profit amounting to 16 million euros (just under $23 million) while net profit was down 79% at 161 million euros (just under $229 million). Sounding an ominous warning for the future of new reactors, Areva - the lead contender for new plants in the U.S. - already faces a $5.3 billion euro ($7.5 billion) price tag for the plant that is already three years behind schedule while admitting that the price tag could continue to soar.