Kazatomprom’s Net Profit Falls by Half in H1 2025

National Atomic Company Kazatomprom has published its financial statements for the first half of 2025. Compared to the same period last year, the net profit of the world’s leading uranium producer dropped by 54%, Orda.kz reports.

Revenue from January to June amounted to 660.1 billion tenge, down six percent year-on-year. Net profit declined from 571.7 billion to 263.2 billion tenge. The company attributed the stronger 2024 results to a one-time income from consolidating SP Budenovskoye LLP, while exchange rate differences caused an additional loss of 12.7 billion tenge.

The cost of uranium sold was 373.6 billion tenge, 16% lower than in 2024, though sales expenses rose by 12% due to higher tariffs and a weaker tenge.

Looking ahead, Kazatomprom plans to cut uranium output by 10% in 2026, reducing production from 32.7 thousand tons to 29.6 thousand tons, mainly because of adjustments at JV Budenovskoye.

However, the company expects no supply shortages of sulfuric acid, a critical input for uranium mining.

The long-term uranium price remains stable at $80 per pound, confirming strong fundamentals. However, the company still does not see sufficient market support to return to full production levels,said Meirzhan Yusupov, Chair of the Management Board.

Earlier, Kazatomprom reported an 18.7% fall in profit and a 19.2% revenue drop for the first quarter of 2025.

Original Author: Nikita Drobny