Publication Laka-library:
Annual report and accounts 2019

DateMarch 2020

From the publication:

Annual report and accounts 2019
Urenco  50 years
Energy to succeed

In 2019 we achieved robust underlying1 financial results, safe and strong 
performances and agreed important new business with our customers. This 
comes against a backdrop of market and geopolitical challenges. In 2020, 
Urenco celebrates the 50th anniversary of the Treaty of Almelo, the 
international agreement that set up the company.

Global enrichment market
With nuclear energy providing
approximately 10% of the world’s
electricity2, it is vital that the nuclear
industry receives a cost effective and
diverse supply of uranium enrichment
services as an integral part of the nuclear
fuel cycle. Nuclear is the world’s second
largest source of low-carbon power3 and
Urenco has a key role in sustaining this.
The enrichment market remains
challenging, with lower prices increasingly
reflected in the reduced value of our
contract order book. Enriched uranium
inventories mean that the market has
excess capacity. We have adjusted the
operation of our enrichment facilities
to take account of the current market
demand and are efficiently using uranium
feed. Enriched uranium inventories are
forecast to decrease in the mid-term.
In 2019, we accepted new business at
levels that will enable us to reinvest in our
enrichment facilities. We have once again
fulfilled all of our delivery commitments
and our customer satisfaction
remains high.