Annual results 2021

Strong results for 2021 driven by the balance of long-term export contracts. Return in 2022 to the momentum expected before the pandemic

Strong results for 2021, benefiting from the one-off contribution of the balance of long-term contracts with German utilities in the Back End

  • Revenue of €4,726 million, up +27% (LFL) compared to 2020, driven by the aforementioned contracts
  • EBITDA at €1,398 million (compared to €931 million in 2020) benefiting from the effects of the increase in revenue, partly offset by production difficulties in the Back End and the constitution of employee benefit plan assets
  • Operating cash flow of €964 million compared to €548 million in 2020

Net income attributable to owners of the parent, also improved due to financial market performance over the year

  • Adjusted net income attributable to owners of the parent¹ at +€347 million (compared to -€92 million in 2020) driven by growth in revenue, despite operational difficulties and an additional end-of-cycle provision in the Back End
  • Net income attributable to owners of the parent of +€678 million (compared to -€71 million in 2020), reflecting the same effects and benefiting from the performance of the financial markets in 2021.

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

  • Net cash flow of +€210 million (compared to +€144 million in 2020) and net debt down to €1.9 billion (compared to €2.15 billion in 2020)
  • Contributions of €353 million to end-of-lifecycle earmarked assets and of €475 million to employee benefit plan assets

A return in 2022 to the momentum expected before the pandemic

  • Revenue close to €4 billion
  • EBITDA to revenue rate between 23% and 26%
  • Positive net cash flow

    The Orano Board of Directors met yesterday and approved the financial statements closed on December 31, 2021. Philippe Knoche, Chief Executive Officer, stated:

    “2021 will remain for Orano a year of contrast marked by exceptional export contracts and operational difficulties in the Back End sector. The investments and action plans made in our conversion plants are bearing fruit, with a significant ramp-up in production. This is also the path we have chosen by investing for the long term in our Back End plants to relaunch production and secure the future of recycling. Orano's ambition is more than ever to be a major player in the nuclear industry and thus contribute to a neutral-carbon world."

    ¹ See definition in Appendix 2 in the Press Release.

    Read the entire Press Release

    • Press Release - 2021 annual results
    • Recording of the Presentation annual results for 2021
    • See more Publications and regulated Information


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