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    ASY   FR0000074148

ASSYSTEM

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Real-time Euronext Paris  -  11:35:24 2023-02-03 am EST
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Assystem : Strengthens Commitment to Uzbekistan's Energy Transition

11/24/2022 | 06:34am EST

24 November 2022

Two new MOU'ssigned at the Franco-Uzbek Business Forum enable further collaboration on new nuclear power and grid modernisation projects.

International engineering, digital services, and project management company Assystem - a committed player in accelerating energy transition projects around the world - has signed two new Memorandum's of Understanding (MOU) with the Ministry of Energy and the National Electric Grid of Uzbekistan.

Uzbekistan has a clear plan for the transformation of its energy sector with the aim of reaching Net Zero carbon emissions by 2050. This energy transition involves generating 25% of power from renewable energy sources by 2026, and utilising other low-carbon energy such as nuclear power.

Assystem is already supporting this programme through its Tashkent based joint venture, UzAssystem. In the MOU with the Ministry of Energy, a collaboration on the development of nuclear power has been agreed. This will draw on Assystem's 55-year heritage in the development of nuclear power programmes across the world. Possible areas of collaboration include (but are not limited to) Owner Engineering services incorporating site characterization and monitoring, environmental & social impact assessments, licensing support, construction management and commissioning.

A key aspect of this MOU will be formulating a strong training and development programme which will allow for the transfer of knowledge between the experienced nuclear teams in Assystem and local technical teams. This will be the beginning of a new skilled eco-system around nuclear power which will create high values careers in Uzbekistan.

On the second MOU, with the National Electric Grid of Uzbekistan, possible areas for future collaboration would be on the creation of an intelligent and fully digital electrical grid network. This will draw on Assystem's core strength in the management of data and application of digital tools and methodology to complex projects. This would be a transformative feature which could inform a dynamic and efficient system - suitable for growing economies with a high demand for electricity.

This MOU also covers the provision of training to support these new systems and on project management activities, where Assystem brings a strong reach-back of expertise from its wider group.

Stephane Aubarbier, Assystem's Chief Operating Officer said:

"We are delighted to have made these new commitments with the Ministry of Energy and the National Electric Grid of Uzbekistan.

Like Uzbekistan, Assystem is committed to driving energy transition, and through these new agreements we will be able to go further and take steps to plan the country's first nuclear power programme, that will anchor the country's new low carbon system. We will also advance the grid modernisation programme, which will play a vital role in managing the country's safe and secure Net Zero energy supply for decades to come."

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Assystem SA published this content on 24 November 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 November 2022 11:33:04 UTC.


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Sales 2022 490 M 532 M 532 M
Net income 2022 43,9 M 47,7 M 47,7 M
Net Debt 2022 58,2 M 63,1 M 63,1 M
P/E ratio 2022 14,2x
Yield 2022 2,38%
Capitalization 623 M 676 M 676 M
EV / Sales 2022 1,39x
EV / Sales 2023 1,30x
Nbr of Employees -
Free-Float 35,5%
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Number of Analysts 3
Last Close Price 42,10 €
Average target price 48,00 €
Spread / Average Target 14,0%
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Managers and Directors
Dominique Louis Chairman & Chief Executive Officer
StÚphane Aubarbier Chief Operating Officer & Deputy CEO
Philippe Chevallier Chief Financial Officer & Deputy CEO
Thomas Branche Senior Vice President-Engineering Activities
Pierre GuÚnant Independent Director
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