Orano, a major player in the uranium cycle, announced a net profit of EUR109mn ($119mn) for the first six months of the year, compared to a loss of EUR133mn ($145mn) during the same period last year. This financial recovery is based on improved industrial performance and the resolution of challenges encountered last year at its Nigerien sites.
Significant revenue growth
Orano’s revenue reached EUR2.6bn ($2.84bn), representing an increase of 18.2% at constant scope and exchange rates. This momentum is mainly explained by a favourable delivery schedule and industrial planning, according to the financial management. The results also benefit from the increased capacity of French plants, which have strengthened their production levels during the period.
Stabilisation in Niger and international diversification
After major tensions in 2024 due to the loss of operational control of its mining subsidiaries in Niger, notably Société des Mines de l’Aïr (Somaïr), Compagnie Minière d’Akouta (Cominak) and Imouraren, Orano confirms that the accounting impact of this crisis is now behind it. The Nigerien government announced the nationalisation of Somaïr in June, changing the balance of uranium mining in the region.
First-half results enable the group to pursue its investment projects. Orano recently commissioned a mining operation in Kazakhstan, marking a new stage in its geographical diversification. At the same time, extension works are underway to increase the capacity of the George Besse II enrichment plant, located at the Tricastin site.
Financial outlook and industrial projects
Orano maintains its forecasts for the full year, targeting annual revenue close to EUR5bn ($5.46bn). The semester’s performance supports the development of major industrial projects, according to the financial management, which notes the importance of continued investment for the sector.
The outlook supports the group’s ongoing industrial initiatives, in a global context where uranium demand remains robust.
