Solid results for first half of 2025
Full-year outlook confirmed

Revenue, EBITDA and operating income up compared to the first half of 2024

• 18.2% growth in revenue to €2,672 M (like-for-like) 
  
• EBITDA rose to €727 M (compared to €459 M in the first half of 2024) and the EBITDA margin to 27.2% (compared to 20.2% in the first half of 2024), benefiting from a favorable volume effect partly linked to the half-year variability in backlog outflow and increased production volumes in the Front End and Back End
  
• Operating income increased to €311 M (€12 M in the first half of 2024), mainly driven by strong business performance and a first half of 2024 affected by the situation in Niger

Positive net income attributable to owners of the parent 

• Adjusted net income attributable to owners of the parent¹ has improved, standing at + €25 M (compared to - €162 M for the first half of 2024), reflecting the same effects
• Net income attributable to owners of the parent also rose, amounting to + €109 M (compared to - €133 M for the first half of 2024), accentuated by actuarial effects on end-of-lifecycle provisions

Positive net cash flow and continued decrease in net debt 

• Net cash flow of + €428 M (- €148 M for the first half of 2024), driven by EBITDA generation and the acquisition by Sanofi of a stake in Orano Med Theranostics
• Net debt totaling - €0.35 bn (compared to - €0.78 bn at the end of 2024)

2025 financial outlook confirmed 

• Revenue in the region of €5 bn
• EBITDA to revenue rate maintained between 23% and 25%
• Positive net cash flow whilst ensuring the ramp-up of the investment program
  

The Orano Board of Directors met yesterday and approved the financial statements for the period ended June 30, 2025. Commenting on the results, Nicolas Maes, Chief Executive Officer, said:

“Sustained market prices in Mining and Front End, increased production volumes driven by our Opteam26 performance program and the dedication of our teams have enabled the group to achieve solid and improving half-year results across all indicators. This industrial and financial performance, Orano’s primary strategic priority, allows us to confidently progress in the implementation of our major investment projects, to renew our resources in Mining, to increase our production capacities in the Front End, to extend and renew our Back End treatment and recycling facilities, and to accelerate our development in nuclear medicine."