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2021 Annual Report

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2021 Annual Report banner
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    Urenco is committed to maintaining our position as a trusted global industry leader; contributing to a sustainable net zero carbon future; operating safely, and forming partnerships to deliver measurable positive impacts.”

    Boris Schucht

    Chief Executive Officer

    Annual Report 2021
    Chairman's Foreword
    Chief Executive Officer's Review
    Strategic Report
    Sustainability
    Principal Risks and Uncertainties
    Group Finance Report
    Governance
    Financial Statements
  • 2021 Annual Report banner

    We also focussed on developing positive relationships with a wide variety of stakeholders to enable us to play our role in making a contribution to individual countries’ net zero goals.”

    Stephen Billingham

    CBE Chairman of the Board

    Annual Report 2021
    Chairman's Foreword
    Chief Executive Officer's Review
    Strategic Report
    Sustainability
    Principal Risks and Uncertainties
    Group Finance Report
    Governance
    Financial Statements
  • 2021 Annual Report banner
    Annual Report 2021
    Chairman's Foreword
    Chief Executive Officer's Review
    Strategic Report
    Sustainability
    Principal Risks and Uncertainties
    Group Finance Report
    Governance
    Financial Statements

    Annual report 2021

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    Chairman’s foreword

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    Chief Executive Officer’s review

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    Strategic report

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    Sustainability

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    Principal risks and uncertainties

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    Group Finance report

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    Governance

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    Financial statements

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    What we do

    Urenco is an international supplier of enrichment services and fuel cycle products for the civil nuclear industry. Operating in a pivotal area of the nuclear fuel supply chain for more than 50 years, we facilitate zero carbon electricity generation for consumers around the world.

    Diversity of supply

    We are the only company in the world to operate enrichment facilities in four countries.

    Customer focus

    We supply uranium enrichment services and fuel cycle products to more than 50 customers in 20 countries.

    50 years

    We have a proud history as a leading nuclear services technology company for over 50 years.

    Financial Highlights

    Revenue

    €1,669m

    (2020: €1,700m)

    Cash generated from operations

    €1,027m

    (2020: €1,171m)

    EBITDA

    €971m

    (2020: €1,088m)

    Capital expenditure

    €130m

    (2020: €141m)

    Net income/Loss

    €364m

    post exceptionals

    €364m

    pre exceptionals

    (2020: €505m, €531m)

    Net debt

    €11m

    (2020: €456m)

    Financial Highlights

    Revenue

    €1,669m

    (2020: €1,700m)

    Cash generated from operations

    €1,027m

    (2020: €1,171m)

    EBITDA

    €971m

    (2020: €1,088m)

    Capital expenditure

    €130m

    (2020: €141m)

    Net income/Loss

    €364m

    post exceptionals

    €364m

    pre exceptionals

    (2020: €505m, €531m)

    Net debt

    €11m

    (2020: €456m)


    A resilient performance despite ongoing challenges from COVID-19.”

    Ralf ter Haar

    Chief Financial Officer

    2021 Business and sustainability highlights

    Our enrichment sites are located in Gronau, Germany (Urenco Deutschland); Almelo, the Netherlands (Urenco Nederland); Capenhurst, the UK (Urenco UK); and Eunice, USA (UUSA). Our Head Office is located close to London in the UK. We have a marketing office in Arlington, USA and a representation office in Beijing, China.

    Climate change

    Carbon emissions have reduced by 9% compared to 2020*.

    *This reduction equates to our Scope 1&2 carbon emissions

    Water usage

    Water withdrawal reduced by 12%.

    Education programme

    We reached more than 57,000 students through our education programme.

    Strong safety performance

    Total Recordable Injury Rate of 0.27 resulting in six total recordable injuries

    Global enrichment capacity of 18,100 tSW/a

    100%
    Customer deliveries met

    Enriched enough uranium to generate an estimated 780,000 GWh of electricity from nuclear power

    avoiding approx 320 million tonnes of carbon emissions

    Approx 2 million patient treatments performed using medical radioisotopes

    from Urenco enriched stable isotopes products

    14
    Social investment partnerships

    Our Strategy

    Our strategy sets out what we need to achieve in the long term. It is driven by our purpose, vision, mission and values and makes a valuable contribution to Sustainable Development Goal (SGD) seven, adopted by the United Nations, in our drive to facilitate low carbon energy generation and meet global net zero goals.

    Our long-term strategic aim is to transform the organisation to be a more flexible operation by 2030, while adding a refurbishment and decommissioning capability and targeting organic growth in new business activities. Each year we define specific initiative and deep-dives to help us achieve our overall goals. In 2022, we have prioritised four focus areas under our strategy:

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