Kazatomprom Reports 54% Net Profit Decline, Rising Debt H1 2025

Kazatomprom, Kazakhstan's leading uranium producer, reported a 54% decline in net profit to approximately $490 million for the first half of 2025, alongside a 6% decrease in consolidated revenue to 660.2 billion tenge, primarily due to lower sales volumes. Despite the drop in net profit, operating profit rose by 12% to 253.7 billion tenge, driven by reduced sales costs, while adjusted EBITDA declined modestly by 4%, reflecting ongoing operational pressures. The company plans a 10% reduction in nominal uranium production for 2026 to better align supply with market demand, maintaining production guidance of 13,000 to 14,000 metric tons for 2025 and expecting sales between 17,500 and 18,500 tons. Kazatomprom remains focused on sustaining operational efficiency and fulfilling delivery obligations, including anticipated domestic demand from Kazakhstan's planned nuclear power plants and advancing infrastructure projects like new processing and sulphuric acid plants. The uranium market has remained stable in long-term prices despite volatility, and the company does not intend to return to full production levels immediately. These results highlight Kazatomprom's strategic adjustments amid market challenges while aiming to ensure reliable uranium supply globally.