Annual results 2024

Exceptional 2024 results driven by Back End export contracts. Solid outlook for 2025

Exceptional results for 2024, benefiting from the one-off contribution of contracts with Japanese utilities in the Back End segment

• Revenue of €5,874 million, up +23.0% (like-for-like) driven by the aforementioned contracts and supported by bullish markets in Mining and Front End
  
• EBITDA at €2,067 million (€1,228 million in 2023) and EBITDA margin of 35.2% (25.7% in 2023), benefiting from the effects of the increase in revenue
  
• Operating cash flow of €937 million, compared to €663 million in 2023

Strong improvement in net income attributable to owners of the parent

• Adjusted net income attributable to owners of the parent¹ rose to +€597 million (from +€22 million in 2023), benefiting from the increase in revenue despite the provisions made in Mining to record the loss of control of subsidiaries in Niger
  
• Net income attributable to owners of the parent stands at +€633 million (compared to +€217 million in 2023), reflecting the same effects and largely unaffected by end-of-lifecycle commitments

Positive net cash flow and strengthening of the group’s financial structure

• Net investments up +20.3% compared to 2023
  
• Net cash flow of +€354 million, compared to +€247 million in 2023
  
• Net debt totaling -€0.78 billion (compared to -€1.48 billion at the end of 2023)

Solid financial outlook for 2025 in a phase of major investments

• Revenue close to €5 billion, a high level in line with the momentum in backlog outflow
  
• EBITDA to revenue rate maintained between 23% and 25%
  
• Positive net cash flow whilst ensuring the ramp-up of the investment program initiated in 2024
  

The Orano Board of Directors met yesterday and approved the financial statements for the year ended December 31, 2024. Commenting on the results, Nicolas Maes, Chief Executive Officer, said: “2024 will go down as a special year with exceptional financial results, marked in particular by Back End export contracts, but also difficult times from a human and operational point of view with the loss of control over our entities in Niger. In a favorable market, we will continue our efforts to improve industrial performance and develop our activities in 2025, with strong growth in investments. Concrete advances in nuclear medicine and the launch of the program to renew our treatment and recycling facilities illustrate this dynamic and our actions in favor of the climate and for a healthy and resource-efficient world."

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