BAKU, Azerbaijan, March 17. Kazakhstan’s Kazatomprom, the national operator for the import and export of uranium, rare metals, and nuclear fuel for nuclear power plants, recorded a 115 percent increase in net profit, which amounted to 472.96 billion Kazakh tenge ($1.01 billion) in 2022, Trend reports, citing the company.
Operating profit amounted to 455.96 billion Kazakh tenge ($982.47 million) in 2022, an increase of 91 percent compared to 2021.
The profit growth is attributed to the increase in the price of the sold uranium.
Adjusted Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) reached 630.89 billion Kazakh tenge ($1.35 billion), increasing 80 percent in the process. Meanwhile, the attributable EBITDA was 495.35 billion ($1.06 billion), which amounts to a 79 percent increase compared to 2021.
The cost of sales totaled 475.09 billion Kazakh tenge ($1.02 building) in 2022, an increase of 18 percent compared to 2021.
Kazatomprom is one of the leading global companies operating in the sector of nuclear energy and uranium mining. The company enjoys a 24 percent share in the global production of uranium and employs around 20,000 people, which makes it one of the top companies in Kazakhstan, in terms of strategic importance.