2022 Half-year results

Good operational performance
Net income impacted by financial markets
Outlook for 2022 strengthened


Operating results up

  • Revenue of €2,142 million, up +9.7% (LFL) compared to the first half of 2021
  • EBITDA up to €596 million (compared to €415 million in the first half-year 2021) reflecting favorable market dynamics in Mining and Front End despite the inflationary context on costs

Net income attributable to owners of the parent impacted by the negative performance of the financial markets in the context of the war in Ukraine

  • Adjusted net income attributable to owners of the parent1  up to +€308 million (compared to -€26 million in the first half-year 2021), reflecting the good operating performance of the activities
  • Net income attributable to owners of the parent down to -€359 million (compared to +€316 million in the first half-year 2021) impacted by a negative return on end-of-lifecycle assets

Positive net cash flow and lower net debt

  • Net cash flow of +€87 million compared to +€334 million in the first half-year 2021 penalized by cyclical effects on the change in WCR
  • Net debt of -€1.8 billion compared to -€1.9 billion at the end of 2021

Financial outlook for 2022 strengthened 

  • Revenue now expected to be around €4.2 billion (compared to 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 June 30, 2022. When asked about the results, Philippe Knoche, Chief Executive Officer, stated:

“The favorable trend in the uranium, conversion and enrichment markets, as well as the investments made to relaunch production in the Back End segment, are part of a positive dynamic. Despite the undoubtedly long-lasting tensions and uncertainties regarding energy prices, inflation and financial markets, the group is maintaining its course while preparing for the future. In an unprecedented geopolitical, economic and environmental context, Orano will continue to provide competitive solutions for energy independence and the climate emergency.”

1 See definition in Appendix 2.

Read the entire Press Release

  • Press Release - 2022 Half-year results
  • Recording of the Presentation half-year results for 2022
  • See more Publications and regulated Information


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