Annual results 2022


2022 operating results at the high end of the target range.
Positive momentum continued in 2023


Solid operating results

  • Revenue of €4,237 million supported by bullish markets in Mining and Front End and by industrial production above objectives in Back End.
  • EBITDA margin rate of 25.8% in the upper range of the outlook reflecting the same impacts as for revenue
  • High basis of comparison (€4,726 million of revenue and EBITDA margin rate of 29.6% in 2021) given the one-off contribution of major export contracts in Recycling

Net income attributable to owners of the parent impacted by the negative performance of the financial markets in 2022 

  • Adjusted net income attributable to owners of the parent1 +€176 million (compared to +€347 million in 2021), reflecting the resilience of operating activities despite an inflationary context impacting costs
  • Net income attributable to owners of the parent at -€377 million (compared to
    +€678 million in 2021) impacted by a negative return on earmarked end-of-lifecycle assets 

Positive net cash flow and lower net debt

  • Net cash flow of +€128 million compared to +€210 million in 2021, enabling the group to continue its debt reduction
  • Fall in net debt from -€1.9 billion to -€1.7 billion at the end of 2022

Financial outlook for 2023 

  • Revenue up and in excess of €4.3 billion 
  • EBITDA to revenue rate between 23% and 25% 
  • Positive net cash flow 

The Orano Board of Directors met yesterday and approved the financial statements closed on December 31, 2022. Commenting on the results, Philippe Knoche, Chief Executive Officer, said: “Orano’s results are solid despite the context of high inflation and are in line with the strong momentum of our markets. In a disrupted geopolitical and energy environment, Orano is ready to support the growth of nuclear energy in all parts of the uranium cycle. By building on its historical activities and developing promising projects, the group is responding to fundamental challenges related to the climate, the saving of resources and health."

¹ See definition in Appendix 2 in the Press Release.

Read the entire Press Release

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


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