The Board of Directors of France’s Orano has approved the financial statements for the year ended 31 December 2019.
Orano said revenue of €3,787 million ($4,176m) in 2019 was up 4.5% compared with 2018. Net cash flow of €219 million was up compared with 2018 (€158 million).
CEO Philippe Knoche said:
“Orano delivered solid results in 2019 with a return to revenue growth, an increase in the EBITDA supported by successful implementation of its performance plan and a positive net cash flow after a voluntary contribution enabling a return to 100% coverage of its dismantling liabilities."
He added: "By improving its financial outlook for 2020, the Group is confirming its role as a major player in the low carbon nuclear energy industry, which has its part to play in the fight against climate change.”
Orano's order intake for 2019 stood at €1.9 billion; mainly related to contracts signed with customers in Asia and America.
This performance also served to replenish the order backlog in shortcycle services activities. However, the long-term backlog is subject to less regular renewal depending on market conditions.
Orano reported a backlog of €29.9 billion as of 31 December 2019, down slightly compared with 2018 (€31.8 billion). The backlog represents close to eight years of revenue, Orano said.
Orano said revenue was driven by "good momentum" in the Mining and Front End businesses.
The share of revenue from Orano's international customers was 52% in 2019. Revenue from Asian customers totalled 26% over the year, up slightly compared with 2018.