The "Value" performance program
With a simpler, more efficient and customer-focused organization, Orano has placed competitiveness at the heart of its value creation model. It is a decisive factor in preserving our position as a strategic player in the nuclear sector, and in seizing opportunities in the industry. To give itself the means to achieve its ambitions and meet its objectives, Orano is continuing to roll out ambitious performance plans.
Orano has implemented several plans adapting them to the company’s context and the market environment.
Performance plans from 2015 to 2020
The first performance plan conducted by Orano over the 2015–2017 period came in a period of major restructuring for the group, both in terms of its organization and its external purchasing policy. This plan, which placed the emphasis on the reduction of costs and the improvement of cash flow, made it possible to achieve a recurrent reduction in costs of around € 480 M per year (€ 500 M for a full year) by the end of 2017.
A second program called "Value 2020", for the 2018–2020 period, aimed to make the group's culture of savings sustainable over the long term and to deploy new working methods, in particular based on digital tools. This plan made it possible to improve the efficiency of group's activities and the creation of new added value for customers. "Value 2020" made it possible to generate positive cash flow and to do so as of 2018, and to make € 260 M in recurring gains on net cash flow from Orano's activities by the end of 2020.
"Value 21/23" performance plan
Since 2021, a new plan, "Value 21/23", is in progress, with the objective of unlocking € 180 M in OPEX savings and € 30 M in CAPEX savings over the 3-year period. This plan is a continuation of the previous plan, with an extension of scope to all the group's activities. This means all the Business Units have a performance objective. Furthermore, levers to exercise control over costs are combined with actions to improve plant yields, as well as to reduce the cost of end-of-cycle operations and have better control over quotations.
"Perform 26" performance plan
The group is already preparing a plan for the 2024/2026 period to consolidate this performance drive for the long-term future. This future plan, the principles and objectives of which have been validated by the Executive Committee, shall enable the group to maintain better control over costs in an environment of high inflation. Like all industrial companies, Orano is facing an increase in the prices of energy and raw materials. This plan will thus place the emphasis on actions in the area of energy sufficiency and efficiency on the one hand, and the use "as needed" of reagents and raw materials for our plants on the other. In a positive context of development of its activities, the group shall also be careful to maintain a environment of frugality so that this development proceeds in a profitable manner.