Results 1 - 1 of 1
Results 1 - 1 of 1. Search took: 0.015 seconds
[en] Since the outbreak of the Covid-19 health crisis, Orano has implemented a set of measures to ensure both the health of its employees and the continuity of its customers' businesses, in compliance with the directives of national and international health authorities. At the reporting date of the financial statements, the only significant disruptions related to Covid-19 concern the group's mining activities. The Cigar Lake mine operated by Cameco and the McClean Lake mineral processing plant in Canada, which were stopped for the first time at the end of March with a resumption of production in September, were again phased out at the end of December in view of the development of the local health situation. No contract termination with customers or suppliers was noted due to the pandemic. One-off agreements have been negotiated with certain customers in order to reorganize deliveries beyond 2020 without prejudice to the parties. While the Covid-19 crisis does not affect the value of the group's industrial assets, it has severely disrupted activities, particularly in the Mining and Back End sectors. Despite these uncertainties and thanks in particular to the measures implemented, the group achieved an EBITDA rate of 25.3%, an improvement of +1.5 point compared to 2019. Activity preserved and operational performance improved despite Covid: - Order intake of Euros 1.9 billion and no impact of the crisis on the backlog; - Revenue down by -2.5% (bps) compared to 2019 due to production stoppages and postponements of activities, in connection with the pandemic; - EBITDA of Euros 931 million compared to Euros 900 million in 2019 (rate up to 25.3% compared to 23.8% in 2019). Positive net cash flow and improved liquidity: - Net cash flow of +Euros 144 million (compared to +Euros 219 million in 2019) and maintenance of a coverage rate of 100% of end-of-life cycle liabilities; - Net debt down to Euros 2.15 billion. Net income attributable to owners of the parent impacted by the health crisis: - Adjusted net income attributable to owners of the parent improved at -Euros 91 million (compared with -Euros 145 million in 2019) but impacted by the Covid and an additional end-of-life cycle provision; - Net income attributable to owners of the parent down to -Euros 70 million (compared to +Euros 408 million in 2019) reflecting the same effects and a lower performance of the financial markets in 2020. Financial outlook for 2021: - A recovery in revenue growth; - Consolidation of EBITDA rate between 23% and 26%; - Continuing positive net cash flow.