Orano Mining's Revenue Drops By 15.4% In the First Half of 2026

Orano Mining has recorded mining revenue of €772 million in the first half of 2026, down 15.4% from €913 million in the corresponding period last year. The decrease was linked to slower backlog outflow and negative foreign exchange effects, according to the company's half-year report issued earlier this year ( in July).

The company noted that the slower backlog outflow compared with the first half of 2025 and negative foreign exchange effects reduced Mining revenue, with a favourable price and product mix linked to higher uranium spot prices partly offset the decrease.

According to the report the revenue from the Front End segment also fell by 8.8%, from €679 million to €619 million. Orano attributed the decrease to less favourable backlog outflow compared with the same period last year.

However, Back End segment recorded an increase of 20.8%, with revenue rising from €1.074 billion in the first half of 2025 to €1.297 billion in the first half of 2026.

The increase was mainly driven by higher production volumes in Recycling and the continued ramp-up of the Aval du Futur project, which includes investments to renew the group's treatment and recycling facilities, the report indicated.

At group level, Orano recorded total revenue of €2.696 billion, compared with €2.672 billion in the first half of 2025, this represented an increase of 0.9% on a reported basis and 2.1% on a like-for-like basis.

Despite the increase in total revenue, Orano recorded that earnings before interest, taxes, depreciation and amortisation (EBITDA) fell to €595 million from €727 million recorded in the first half of 2025.

Orano said the decrease was largely linked to changes in operating income and production stoppages in the Mining and Front End segments following exceptional climatic events.

For the full year 2026, Orano maintained its revenue outlook at approximately €5.3 billion and an EBITDA margin of between 23% and 25%.