Half-year results reflect the deteriorated situation in Niger in an otherwise favorable dynamic
2024 financial outlook confirmed

Revenue and EBITDA almost stable compared to the first half of 2023. Operating income affected by the risk in Niger, impacting the Mining business

• Revenue of €2,272 million down by -1.0% (like-for-like)
• EBITDA at €459 million (compared to €482 million in the first half of 2023) and EBITDA margin of 20.2% (compared to 21.0% in the first half of 2023), a temporary decrease over the first half as expected in the Back End and impacted by the situation in Niger
• Operating income at €12 million (compared to €260 million in the first half of 2023) reflecting the deteriorated condition of mining operations in Niger

Lower net income attributable to owners of the parent, impacted by the situation in Niger 

• Adjusted net income attributable to owners of the parent¹ has fallen to -€162 million (from -€45 million in the first half of 2023), due to provisions made for the Mining business
• Net income attributable to owners of the parent stands at -€133 million (down from +€117 million in the first half of 2023), reflecting the same effects

Temporarily slightly higher net debt

• Net cash flow of -€148 million (compared to -€189 million in the first half of 2023), penalized by unfavorable seasonal factors during the first half of the year
• Net debt totaling -€1.59 billion (compared to -€1.48 billion at the end of 2023)

2024 financial outlook confirmed 

• Revenue stable around €4.8 billion
• EBITDA to revenue rate maintained between 22% and 24%
• Positive net cash flow

The Orano Board of Directors met yesterday and approved the financial statements closed on June 30, 2024. When asked about the results, Nicolas Maes, Chief Executive Officer, said:

“At the end of June 2024, the group is in line with its development roadmap and notes the deteriorated situation affecting mining operations in Niger, connected to the evolving local geopolitical context, while ensuring its delivery commitments to its customers. In a favorable nuclear market, the group has confirmed its end-of-year outlook which consists of continuing to reduce its debt while accelerating its investment program. The Orano teams are working hard on the construction of the nuclear industry of tomorrow and the development of new activities in nuclear medicine and the battery value chain by ensuring the group is aligned with the key issues of decarbonization, health and energy sovereignty.”