Kazatomprom’s Strong Financial Performance in 2023
Kazatomprom Shows Strong Financial Resilience in 2023
The national atomic company, Kazatomprom, demonstrated exceptional financial resilience in 2023, according to the company’s press service. The company’s strategic market positioning and robust operational efficiency were key factors that contributed to its success, as highlighted in the consolidated financial results for the year.
Despite a modest increase in the average annual uranium price, Kazatomprom saw a significant revenue growth of 43%, reaching a total of 1.4 trillion tenge ($3.1 billion). Both gross and operating profits also experienced a nearly 50% year-on-year increase.
In an effort to promote sustainable development, Kazatomprom developed a Sustainable Development Program for the years 2023-2030. This program includes key goals, objectives, and specific targets related to environmental, social, and corporate governance (ESG) components.
To further enhance the implementation of ESG principles and global sustainable development practices, Kazatomprom executed activities outlined in the 2023-2024 ESG Roadmap. The company also approved the Radioactive Waste Management Program for 2023-2030 and the Water Resources Management Strategy for the same period, showcasing its commitment to responsible water usage in production processes.
Kazatomprom prioritized independent ESG ratings and disclosed data on Climate Change for the first time as part of the Carbon Disclosure Project climate score. With a B (management) rating, Kazatomprom surpassed industry and regional averages, demonstrating its efforts to reduce negative environmental impacts through its Decarbonisation Strategy aiming for carbon neutrality by 2060.
Additionally, Kazatomprom prepared its inaugural Progress Report to the United Nations (UN) Global Compact and joined the UN Global Compact Sustainable Development Goals Ambition Program to further support global sustainable development initiatives.
Maintaining a strong production volume of uranium, Kazatomprom produced 21,112 tons in 2023. The company projects a production range of 21,000 to 22,500 tonnes on a 100% basis and 10,900 to 11,900 tonnes on an attributable basis for the year 2024.
Overall, Kazatomprom’s financial resilience, commitment to sustainable development, and operational efficiency position the company as a leader in the atomic energy industry.
