Framatome reports that new orders reached €21,230m ($22,197m) in 2024 “a year marked by the signing of contracts for EPR2 (the first six units of the French programme) and Sizewell C (two units in the UK). It also reported “significant commercial successes” for services to the installed fleet and fuel assembly fabrication in Europe. This included the signing of fuel supply contracts for VVER 440 reactors in Bulgaria and Slovakia, and for pressurised water reactors in North America.
Revenue was €4,676m up 11.8% on 2023. This “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 Amortisation (Ebitda) was €623m an increase of 4.6% compared with 2023. “Optimisation of overhead costs and quality control continued. Despite ongoing supply chain tensions, production remained consistent with customer commitments.”
The Installed Base Business Unit completed 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). In North America Framatome saw an increase in outage service activities “despite the highly competitive nature of the market”. Equipment was delivered to the Angra 3 project in Brazil and Bruce Power units 3&4 in Canada. Also in 2024 Framatome acquired non-destructive testing company Arkadia.
The Instrumentation & Control (I&C) Business Unit saw growth “driven by new build and safety I&C modernisation projects in France, the UK and Central Europe. In North America, “the focus was on finalising contracts underway and qualification of a new product, TXS Compact. Framatome also acquired Allentis, a company specialised in the monitoring of IT and industrial networks.
The Projects & Components Business Unit undertook hot tests and subsequent start-up and connection to the grid of the Flamanville 3 EPR in France in December. 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. The manufacturing of forged parts and equipment for the Sizewell C project is continuing. As to the six EPR2 units in France, a milestone was reached when the French nuclear safety authority (ASN) authorised the start of manufacturing for the first reactor vessels in May and the steam generators in October. Framatome also acquired valve company Vanatome.
The Fuel Business Unit signed major contracts with Bulgaria 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 year-on-year increase in the volume of fuel deliveries in 2024.
Investments initiated as part of the production ramp-up for the EPR2 industrial programme continued. These relate to manufacturing and assembly activities for the primary and auxiliary equipment components. Investments are also being made to modernise the fuel supply chain and secure its capacity to fabricate new products, particularly on the site of Romans-sur-Isère (France).
