Multi national fuel producer for the nuclear power market Urenco has reported increased before tax and considerations income of E214 million in the first six months of the year as demand for nuclear fuel increased worldwide.
EBITDA grew by a solid 21% to E214 million in the first half compared with E177 million for the same period in 2005. Net profit reached E74 million, E23 million up on 2005.
The company said first half performance was driven by increased revenues, up 55% to E382 million, due to increased demand and different seasonal delivery patterns compared with 2005, and also by improved operational efficiencies.
Meanwhile, the group’s order book continues to grow, increasing by more than 40% since the beginning of the year. The order book now stands at over E11 billion.
However, Urenco has warned that the beneficial effects of the seasonal shift in delivery patterns would not carry over into the second half of the year, but despite this the outlook for the full year remained encouraging.