Orano anticipates a positive 2025 after achieving exceptional 2024 financial results, despite losing control of operations in Niger. The company’s revenue rose 23% to EUR5.87 billion due to contracts for Japanese nuclear waste. CEO Nicolas Maes highlighted ongoing investments and diversification to ensure growth and stability in the coming years.
Orano is projecting a positive outlook for 2025 following “exceptional” financial results in 2024, as reported by CEO Nicolas Maes. The company’s revenue increased by 23% year-on-year to EUR5.87 billion (USD6.15 billion), primarily driven by contracts for the return of Japanese nuclear waste. Despite challenges stemming from the loss of control over its Niger operations, Orano’s EBITDA rose to EUR2.067 billion, significantly up from EUR1.228 billion in 2023.
Maes acknowledged that while 2024 brought remarkable financial achievements due to Back End export contracts, it was also marked by difficulties following the loss of operational control in Niger. This development led to the removal of Orano’s Niger subsidiaries—Somaïr, Cominak, and Imouraren—from its financial statements. The CEO expressed concern for the approximately 900 employees affected by this situation.
The impact of losing control over the Niger subsidiaries caused operating income in the Mining segment to decrease from EUR196 million to EUR122 million. Nevertheless, this decline was somewhat balanced by higher uranium prices and favorable currency effects. Maes confirmed that the operational issues in Niger would not hinder Orano’s commitments for 2024.
Orano anticipates ongoing positive trends and aims for revenue close to EUR5 billion in 2025, supported by its investment strategy. The company has established an agreement with the Mongolian government for the Zuuvch Ovoo uranium mine and aims to invest approximately USD500 million over four years, eventually reaching a total expenditure of USD1.6 billion during the mine’s lifespan.
Additionally, the company is exploring diverse supply sources including projects in Uzbekistan, Canada, and reviving the Trekkopje project in Namibia. Maes remains optimistic about the plans to construct a uranium enrichment facility in Tennessee, stating that bipartisan support in the U.S. Congress renders the political environment stable for such endeavors. An investment decision is projected for the enrichment plant in 2026 or 2027.
In summary, Orano is successfully navigating challenges while expecting continued growth through strategic investments and partnerships. Despite setbacks in Niger, the company has recorded strong financial performance and is setting its sights on substantial revenue targets for 2025. The focus on diversifying its supply sources and leveraging U.S. political stability indicates a proactive approach to future opportunities.
Original Source: world-nuclear-news.org
