Annual results 2023

Solid 2023 results and the start of a new development cycle

Improved commercial and operational performance 

  • Order intake of €9.0 billion, bringing the backlog to €30.8 billion (+17.9% vs. 
    end 2022)
  • Revenue of €4,775 million, up 13.1% on a like-for-like basis, supported by rising market prices and increased Front End and Back End activity
  • EBITDA at €1,228 million (compared to €1,095 million in 2022) above target, supported by the increase in activity

Positive net income attributable to owners of the parent 

  • Net income attributable to owners of the parent up to +€217 million (compared to 
    -€377 million in 2022), driven by good business momentum and better return on end-of-lifecycle assets
  • Adjusted net income attributable to owners of the parent1 of +€22 million (compared to +€176 million in 2022) penalized by the effects of changes in discounting of long-term provisions

Positive net cash flow and decrease in net debt

  • Net cash flow of +€247 million compared to +€128 million in 2022 
  • Decrease in net debt from -€1.7 billion to -€1.5 billion at the end of 2023 and return to 100% coverage of end-of-lifecycle commitments by earmarked assets

2024 financial outlook taking into account the start of a new development cycle 

  • Revenue stable at around €4.8 billion, a high level in line with backlog momentum 
  • EBITDA margin on revenue between 22% and 24%, including increased support for the development of new activities 
  • Positive net cash flow while ensuring the ramp-up of the investment program

The Orano Board of Directors met yesterday and approved the financial statements closed on December 31, 2023. Commenting on the results, Nicolas Maes, Chief Executive Officer, said: “Thanks to its good results and in particular its continuous deleveraging over the past 6 years, Orano has put itself in working order to support the new nuclear energy prospects and meet the climate and sovereignty challenges. The decision to increase our enrichment production capacity is a concrete illustration of this, and foreshadows other development projects in our nuclear base, and our new activities in nuclear medicine and the battery value chain. Therefore, 2024 marks the start of a new cycle of development and investment in areas that are more essential and meaningful than ever.”

¹ See definition in Appendix 1.

Read the entire Press Release

  • Press Release - 2023 annual results
  • Recording of the Presentation annual results for 2023
  • See more Publications and regulated Information


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