The revenue of TVEL (Rosatom’s fuel division) in 2024 amounted to more than RUB 341bn ($4bn) an increase of 9% on 2023, according to the annual accounting report of the company. However, the company’s net profit for 2024 decreased by more than RUB 26bn (40%) compared with the previous year, amounting to RUB40,335, 521.
Expenses included an increase of RUB14bn in sales cost, RUB21bn in interest payments and RUB14bn in other expenses. The largest share in revenue was attributed to production of nuclear fuel at RUB176.7bn and uranium conversion and enrichment services for third parties at RUB133.5bn.
TVEL is among the world’s largest manufacturers of nuclear fuel. The company is the sole supplier of nuclear fuel for all Russian NPPs, ship and research reactors in Russia. The company provides fuel for a total of more than 70 power reactors in 15 states, research reactors in nine countries, as well as the transport reactors of the Russian nuclear fleet. TVEL includes enterprises specialising in the production of gas centrifuges, uranium enrichment and nuclear fuel fabrication, as well as research and development organisations.
