Framatome, an international leader in nuclear energy, reported financial results for its fiscal year ending December 31, 2024.
| (in millions of euros) | 2023 | 2024 | Organic Variance |
| Revenue | 4,067 | 4,676 | +11.8% |
| EBITDA (1) | 598 | 623 | +4.6% |
| Cashflow generated by operations | 243 | 706 | x2.9 |
New orders reached 21,230 million euros in 2024, a year marked by the signing of contracts for EPR2 (the first six units of the French program) and Sizewell C (two units in the UK). Significant commercial successes were also achieved for services to the installed fleet and fuel assembly fabrication in Europe, notably with the signing of fuel supply contracts for VVER 440 reactors in Hungary and Slovakia, and for PWR reactors in North America.
Revenue was 4,676 million euros, representing an organic increase of 11.8% compared to 2023. This growth was driven by the development of EPR projects in France and the UK as well as an acceleration of fuel deliveries in the US and Europe.
Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) was 623 million euros, an organic increase of 4.6% compared to 2023.
The execution of projects was well managed and adhered to contractual commitments. Optimization of overhead costs and quality control continued. Despite ongoing supply chain tensions, production remained consistent with customer commitments.
The Installed Base Business Unit executed primary component replacement operations for EDF on the French fleet (steam generator replacements at Cruas Unit 3) and for Eskom in South Africa (steam generator replacements at Koeberg Unit 2). It continued to strengthen its position on the North American market with an increase in outage service activities despite the highly competitive nature of the market. Equipment was successfully delivered to the Angra 3 project in Brazil and Bruce Power Units 3 & 4 in Canada, in line with contractual schedules. 2024 was also marked by the acquisition of Arkadia NDT, a company specialized in non-destructive testing.
The Instrumentation & Control (I&C) Business Unit continued to grow, driven by new build and safety I&C modernization projects in France, the UK and Central Europe. In North America, the focus was on finalizing contracts underway and qualification of a new product, TXS Compact. The acquisition of Allentis, a company specialized in the monitoring of IT and industrial networks, reinforces Framatome’s offering in the field of cybersecurity.
Activity in the Projects and Components Business Unit was sustained with the hot tests and subsequent start-up and connection to the grid of the Flamanville 3 EPR in France on December 21, 2024. In the UK, all the primary components for Hinkley Point C Unit 1 were delivered on site and the reactor pressure vessel was installed in the reactor building of Unit 1 in early December 2024. The manufacturing of forged parts and equipment for the Sizewell C project is continuing. Regarding the six EPR2 units in France, a significant milestone was reached when the French nuclear safety authority (ASN) authorized the commencement of manufacturing for the first reactor vessels in May 2024 and the steam generators in October 2024. The acquisition of Vanatome has reinforced the industrial chain for valves for the nuclear and defense sectors.
The Fuel Business Unit signed major contracts with Hungary and Slovakia for the supply of fuel to VVER reactors, and continued to pursue actions to increase market share in North America, with a significant increase in the volume of fuel deliveries in 2024 compared to 2023.
Investments initiated as part of the production ramp-up for the EPR2 industrial program in France continued. These investments relate to manufacturing and assembly activities for the primary and auxiliary equipment components. Investments are also being made to modernize the fuel supply chain and secure its capacity to fabricate new products, particularly on the site of Romans-sur-Isère (France).
Framatome continues to develop its commercial offerings and its “Framatome Healthcare”, “Framatome Defense” and “Framatome Space” brands.
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[1] The EDF Group communicates on a Framatome EBITDA of 597 million euros in 2023 and 629 million euros in 2024. Framatome’s consolidation accounts for non-recurring events and certain business-to-business adjustments.