Activity preserved and continued deleveraging despite the health crisis

Activity preserved and operational performance improved despite Covid

• Order intake of €1.9 billion and no impact of the crisis on the backlog
• Revenue down by -2.5% (bps) compared to 2019 due to production stoppages and postponements of activities, in connection with the pandemic
• EBITDA of €931 million compared to €900 million in 2019 (rate up to 25.3% compared to 23.8% in 2019)

Positive net cash flow and improved liquidity

• Net cash flow of +€144 million (compared to +€219 million in 2019) and maintenance of a coverage rate of 100% of end-of-lifecycle liabilities
• Net debt down to €2.15 billion

Net income attributable to owners of the parent impacted by the health crisis

• Adjusted net income attributable to owners of the parent improved at -€91 million (compared with -€145 million in 2019) but impacted by the Covid and an additional end-of-lifecycle provision
• Net income attributable to owners of the parent down to -€70 million (compared to +€408 million in 2019) reflecting the same effects and a lower performance of the financial markets in 2020

Financial outlook for 2021²

• A recovery in revenue growth
• Consolidation of EBITDA rate between 23% and 26%
• Continuing positive net cash flow

The Orano Board of Directors met yesterday and approved the financial statements closed on December 31, 2020. When asked about the results, Philippe Knoche, Chief Executive Officer, stated:

“We have demonstrated our ability to adapt to an unprecedented health crisis. Thanks to the mobilization of its teams, Orano has maintained its operations to ensure the continuity of its services to its customers for the supply of electricity. While our growth has been halted, our operational performance target has been achieved and we have continued to strengthen our financial structure. 2020 will remain the year when the world realized that it needs nuclear power to meet the climate challenge of the future while saving resources. Our industry is regaining a decisive role and Orano is ready to respond to these challenges."