Orano - Annual Activity Report 2024 50 2 SITUATION AND ACTIVITIES OF THE COMPANY AND ITS SUBSIDIARIES DURING THE PAST FINANCIAL YEAR Financial situation of the Company and the group during the past financial year 2.5.2.2 Income statement Revenue (in millions of euros) 2024 2023 Change 2024/2023 Consolidated revenue 5,874 4,775 +1,099 Mining 1,502 1,319 +183 Front End 1,307 1,305 +2 Back End 3,027 2,135 +892 Corporate and other operations 38 17 +21 The group’s consolidated revenue amounted to 5,874 million euros at December 31, 2024, compared with 4,775 million euros at December 31, 2023. Gross margin (in millions of euros) 2024 2023 Change 2024/2023 Gross margin 1,703 891 +812 Percentage of consolidated revenue 29% 18.7% +10.3 pts The group’s gross margin amounted to 1,703 million euros at December 31, 2024, compared with 891 million euros at December 31, 2023. Research and Development The group’s Research and Development investments in the 2024 financial year amounted to 172 million euros, i.e., 2.92% of the period’s revenue, compared with 121 million euros in 2023 (2.53% of revenue). Marketing, sales, general and administrative expenses Group marketing, sales, general and administrative expenses in the 2024 financial year amounted to 168 million euros, compared with 149 million euros in 2023. Other operating income and expenses Other operating income and expenses in the 2024 financial year represented a net expense of 277 million euros, compared with a net income of 13 million euros in 2023. Other operating income and expenses are described in Note 5 to the consolidated financial statements in Section 6.1. Operating income The group’s operating income amounted to 1,085 million euros at December 31, 2024, compared with 635 million euros at December 31, 2023. The increase in operating income reflects the increase in operating income for Front End (+57 million euros) and in Back End (+494 million euros) offset by a decrease of -74 million euros in Mining and -27 million euros in Corporate and other activities. Share in net income of joint ventures and associates The share in net income of joint ventures and associates was -12 million euros at December 31, 2024 (compared with -3 million euros at the end of 2023). (in millions of euros) 2024 2023 ETC (12) 6 SI-nerGIE - 1 ANADEC - - SPECTRANO - - Interim Storage Partners (ISP) - (9) Accelerated Decommissioning Partners (ADP) - (1) TOTAL (12) (3)
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