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2017 Annual Results

Press Release

March 29, 2018

Restructuring completed, in accordance with the strategic roadmap

  • Capital increase reserved for the French State completed on July 26, 2017, for €2.5 billion
  • Capital increases reserved for JNFL and MHI completed on February 26, 2018 for a total amount of €500 million
  • Performance targets achieved, with savings of almost €480 million on a yearly basis compared with 2014

Results consistent with forecasts, in a difficult market context

  • 2017 net income stable compared with 2016, at -€252 million and including impairments in the amount of €492 million
  • Net cash flow1 target achieved, at -€1,066 million, including contribution of €812m to funds dedicated to end-of-life operations

The Board of Directors of Orano, meeting yesterday under the chairmanship of Philippe Varin, approved the financial statements for the period ended December 31, 2017. When asked about the results, Philippe Knoche, Chief Executive Officer, stated:

“The 2017 results remain affected by the restructuring of the Group, in a difficult market context. With the completion of this restructuring, the acquisition of equity stakes by the Japanese groups JNFL and MHI, and the implementation of its performance plan, Orano now has at its disposal all of the technological, human and financial resources it needs to ensure its development over the coming years. Our Group is launching its strategic action plan which focuses on three main objectives: generating positive net cash flow as of this year, relying on our new performance plan “Value 2020”, boosting our expansion in Asia, and developing our activities in services such as engineering, logistics and dismantling. Orano firmly believes that nuclear is still an industry with a future; it is competitive, a good source of employment and an effective tool in the fight against climate disruption.”

1 Net cash flow from company operations, as defined in Appendix 1.

More about Orano USA

Orano USA, a subsidiary of the global company Orano, is a leading technology and services provider for decommissioning shutdown nuclear energy facilities, used fuel management, federal site cleanup and closure, and the sale of uranium, conversion, and enrichment services to the U.S. commercial and federal markets. With its parent company Orano, Orano USA has more than 30 years’ experience in decontaminating and dismantling nuclear facilities, and more than 50 years’ experience securely transporting and storing used nuclear fuel. Prior to January 2018, Orano USA was AREVA Nuclear Materials. Learn more on our website and @Orano_usa.

Giving nuclear energy all its value.

Orano USA, 1155 F Street, N.W., Suite 800, Washington, D.C. 20004 – 202.969.3240

Orano USA Press Office

Curtis Roberts
Press Officer
Orano USA
(202) 969-3254