Orano returns to the black and raises its sales forecast

Orano, the French nuclear group, is reporting a promising return to profit in the first half of 2023, boosted by a significant increase in sales. Optimistic prospects are opening up for a booming nuclear market, supported by global climate and strategic considerations.

Share:

orano

Comprehensive energy news coverage, updated nonstop

Annual subscription

8.25$/month*

*billed annually at 99$/year for the first year then 149,00$/year ​

Unlimited access • Archives included • Professional invoice

OTHER ACCESS OPTIONS

Monthly subscription

Unlimited access • Archives included

5.2$/month*
then 14.90$ per month thereafter

FREE ACCOUNT

3 articles offered per month

FREE

*Prices are excluding VAT, which may vary depending on your location or professional status

Since 2021: 35,000 articles • 150+ analyses per week

French nuclear group Orano returned to the black in the first half of the year, with a net profit of 117 million euros compared with a net loss the previous year, and raised its sales forecast for 2023 in the face of a “buoyant market”.

Orano: flourishing financial health

The industrial company specializing in the recovery and processing of nuclear materials saw its sales rise by 7.2% in the first half, to 2.3 billion euros, “driven by a positive market dynamic, with significant price effects”, its CFO, David Claverie, told AFP.

Net profit for the Group, which employs 17,000 people in 17 countries, was back in the black at 117 million euros, after a net loss of 359 million euros for the same period last year. Thanks in particular to “the good performance of our dedicated end-of-cycle assets”.

Overall, “nuclear power has returned to the forefront of international discussions over the past few months”, “with growth forecasts for nuclear power revised upwards”, said Mr. Claverie.

Key factors and outlook: decarbonization and strategic independence at the heart of Orano’s forecasts

He cites both climatic reasons, with nuclear power envisaged as a solution for “decarbonizing the world’s economies by 2050”, and strategic reasons, with “a desire for independence from the Russian nuclear industry” since the outbreak of war in Ukraine. Against this backdrop, Orano has raised its sales forecasts for 2023 from “weak growth” to over 10% growth compared with 2022, when the group generated sales of 4.2 billion euros.

The company, which is controlled by the French state and was formed from the restructuring of the former Areva, has nevertheless reported a gross operating margin “down 6.8 points compared with 2022”, concedes its CFO, explaining this “occasionally low” level by the “consistency of our contract flow” and “an inflationary context for our costs”.

“The contribution to earnings of our different business segments can vary quite significantly from one half-year to the next,” explains Mr. Claverie.

After a “first half marked by variability”, the Group expects “a second half that will contribute more both in terms of earnings and cash generation”, with net cash flow (-189 million euros in the first half) expected to “recover significantly” to end up “significantly positive”, it said.

California-based Radiant will build its first microreactor production facility in Oak Ridge, on a former Manhattan Project site, with production targeted at 50 units per year by 2028.
EDF restarted the Flamanville EPR reactor after repairing non-compliant valves, delaying the target of reaching full power output of 1,620 MW until the end of autumn.
Nano Nuclear and the University of Illinois will begin drilling operations for the KRONOS MMR™ reactor on October 24, marking a key step toward commercialisation of the nuclear project on the Urbana-Champaign campus.
Natura Resources is finalising construction of the MSR-1, an advanced liquid-fuel nuclear reactor, with a planned launch in 2026 on the Abilene Christian University campus.
JPMorganChase commits $10bn in direct investments as part of a $1.5tn plan to boost energy independence and strategic technologies, including next-generation nuclear power.
A roadmap under development aims to establish regulatory and technical foundations for the deployment of small modular reactors, with the goal of strengthening national energy security and attracting private capital.
EDF adjusts its 2025 nuclear production forecast to between 365 and 375 TWh, supported by the performance of its industrial programme START 2025 focused on maintenance efficiency.
The United Nations nuclear agency is urging Ukraine and Russia to establish a local ceasefire to repair damaged power lines at the Zaporizhzhia plant, which remains on alert after losing all external power supply.
Deep Isolation is calling on First Mover States to incorporate radioactive waste management into their joint strategy to ensure the industrial viability of new nuclear reactors.
Canada’s nuclear regulator has approved the launch of a new building that will store used steam generators from Bruce Power's refurbishment programme.
Costain has been selected to upgrade essential utilities at the Sellafield nuclear site under a contract worth up to £1bn over fifteen years.
A 5,000-megawatt nuclear programme will be launched by the South African government with NECSA to support national electricity supply and reduce power cuts.
Canada’s IsoEnergy will acquire Australia’s Toro Energy for AUD75mn ($49mn), creating a diversified uranium production platform with assets across Australia, Canada and the United States.
The upcoming Sizewell C nuclear power plant secures its fuel supply through agreements signed with Urenco and Framatome, marking a key step in strengthening the United Kingdom’s long-term energy stability.
The construction of Uzbekistan’s first small modular reactor (SMR) is underway, with 1.5mn m³ of earth being excavated in Jizzakh, marking a major milestone for the nuclear project led by Rosatom.
A nationwide debate on radioactive waste strategy begins on October 13 for four months. It will accompany the preparation of the next five-year roadmap regulating storage, treatment and funding policies through 2031.
Holtec International has ended its planned interim nuclear storage facility in New Mexico, citing ongoing legal hurdles and political deadlock over spent fuel management.
An international audit led by the International Atomic Energy Agency confirms that Spain has fully addressed the recommendations made in 2018 regarding its nuclear waste management programme.
EDF anticipates a 35 MW decrease in output for the Flamanville EPR between 2026 and 2031, citing a degraded performance level with no official technical explanation to date.
Nuclear Power Corporation of India Ltd has pushed the Bharat Small Reactors proposal deadline to 31 March 2026, aiming to expand private sector engagement in the captive nuclear energy project.

All the latest energy news, all the time

Annual subscription

8.25$/month*

*billed annually at 99$/year for the first year then 149,00$/year ​

Unlimited access - Archives included - Pro invoice

Monthly subscription

Unlimited access • Archives included

5.2$/month*
then 14.90$ per month thereafter

*Prices shown are exclusive of VAT, which may vary according to your location or professional status.

Since 2021: 30,000 articles - +150 analyses/week.