Orano reported strong financial results for 2024 with a 23% revenue increase, driven by contracts with Japanese utilities and favorable mining markets. Despite losing control over its Niger operations, which impacted income, the company anticipates continued growth in 2025 through strategic investments in uranium projects. Orano’s plans for a new enrichment plant in the U.S. remain on track, reflecting bipartisan support.
Orano has reported exceptional financial results for 2024, with revenues reaching EUR5.87 billion, a 23% year-on-year increase. This growth was driven by significant contracts for returning nuclear waste to Japan as well as strong market conditions in the mining sector. CEO Nicolas Maes noted that EBITDA rose to EUR2.067 billion, compared to EUR1.228 billion in 2023.
Despite such strong performance, Orano faced operational challenges due to the loss of control over its Niger subsidiaries, affecting its consolidated financial results from December 1. The company has initiated arbitration proceedings with the Niger government after several failed attempts to negotiate a solution, putting the livelihoods of approximately 900 employees at risk.
In light of these events, Orano’s operating income from its Mining segment decreased from EUR196 million in 2023 to EUR122 million in 2024. However, this decrease was somewhat mitigated by rising uranium prices and favorable currency exchange rates. Nevertheless, Maes indicated that the ongoing situation in Niger would not influence the company’s delivery commitments for 2024.
Looking ahead, Orano anticipates maintaining positive revenue growth, projecting nearly EUR5 billion for 2025. This optimism is partly supported by investments in various mining projects, including a new uranium mine in Mongolia, with an expected investment of approximately USD500 million over four years.
Furthermore, Orano is exploring additional diversification opportunities with projects in Uzbekistan and Canada and plans to proceed with the Trekkopje project in Namibia, initially halted in 2012. The firm is also confident that a change in US administration will not affect its ambition to establish a new uranium enrichment facility in Tennessee, known as Project IKE, with an investment decision anticipated in 2026 or 2027.
Overall, Orano’s financial outlook for 2025 appears positive despite setbacks in Niger. The company’s strategic investments in uranium projects and efforts to expand its operational footprint aim to mitigate current challenges while capitalizing on favorable market conditions. The impending developments in the U.S. uranium enrichment sector also look promising, further solidifying Orano’s growth trajectory.
Original Source: world-nuclear-news.org
