Kazakhstan · Delayed Price · Currency is KZT National Atomic Company Kazatomprom JSC Earnings Call Transcripts
Fiscal Year 2026
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Strong uranium demand and disciplined supply are driving record prices and robust operational results, with revenue and production up year-on-year despite FX and cost pressures. Inventory and CapEx have increased to support future growth, while new large contracts require EGM approval.
Fiscal Year 2025
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2025 saw record uranium production, robust financials, and expanded global sales despite inflation and rising costs. 2026 guidance anticipates higher production and revenue, with cost increases driven by MET and sulfuric acid prices.
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Revenue declined 6% year-over-year in H1 2025 due to lower sales, but operating profit rose 12% and adjusted net profit fell only 5% after one-offs. Guidance for 2025 is largely unchanged, with stable sulfuric acid supplies and ongoing strategic investments. Dividend yield remains industry-leading.
Fiscal Year 2024
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2024 saw strong revenue and profit growth driven by higher uranium prices and robust operational performance. Production and sales guidance for 2025 is slightly higher, but supply chain and operational risks persist. Dividend policy remains unchanged, with a record payout and continued focus on long-term value.
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H1 2024 saw strong revenue and a 27% net profit increase, despite higher costs and production challenges. 2025 production guidance was revised down due to sulfuric acid supply issues, but sales commitments and inventory sufficiency are maintained.