ORANO // Annual Activity Report 2024
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FINANCIAL STATEMENTS Statutory Auditors’ report on the Company fi nancial statements for the fi nancial year ended December 31, 2024
6.4 Statutory Auditors’ report on the Company fi nancial statements for the fi nancial year ended December 31, 2024 This is a free translation into English of the Statutory Auditors’ report on the financial statements of the Company issued in French and is provided solely for the convenience of English speaking readers. This report includes information specifically required by European regulations or French law, such as information about the appointment of Statutory Auditors. This report should be read in conjunction with, and construed in accordance with, French law and professional auditing standards applicable in France.
To the Shareholders, Orano 125 avenue de Paris 92320 Châtillon, France
Opinion In compliance with the engagement entrusted to us by your Annual General Meeting, we have audited the accompanying fi nancial statements of Orano for the year ended December 31, 2024. In our opinion, the fi nancial statements give a true and fair view of the assets and liabilities and of the fi nancial position of the Company at December 31, 2024 and of the results of its operations for the year then ended in accordance with French accounting principles. The audit opinion expressed above is consistent with our report to the Audit and Ethics Committee. Audit framework We conducted our audit in accordance with professional standards applicable in France. We believe that the audit evidence we have obtained is suf fi cient and appropriate to provide a basis for our opinion. Our responsibilities under these standards are further described in the “Responsibilities of the Statutory Auditors relating to the audit of the fi nancial statements” section of our report. Independence We conducted our audit engagement in compliance with the independence rules provided for in the French Commercial Code ( Code de commerce ) and the French Code of Ethics ( Code de déontologie ) for Statutory Auditors for the period from January 1, 2024 to the date of our report, and, in particular, we did not provide any non-audit services prohibited by Article 5(1) of Regulation (EU) No. 537/2014. Basis for opinion
Justi fi cation of assessments – Key audit matters In accordance with the requirements of Articles L.821-53 and R.821-180 of the French Commercial Code relating to the justi fi cation of our assessments, we inform you of the key audit matters relating to the risks of material misstatement that, in our professional judgment, were the most signi fi cant in our audit of the fi nancial statements, as well as how we addressed those risks. These matters were addressed as part of our audit of the fi nancial statements as a whole, and therefore contributed to the opinion we formed as expressed above. We do not provide a separate opinion on speci fi c items of the fi nancial statements. At December 31, 2024, the carrying amount of the Company’s equity interests and related receivables amounted to 10,039 million euros and represented around 79% of total assets. Equity interests are recognized at their transfer value or their purchase price plus directly attributable costs (in particular investment acquisition expenses). As described in Note 2.2 to the fi nancial statements, equity interests are measured at each reporting date at their value in use. An impairment loss is recognized when their value in use, assessed individually for each interest, falls below their historical cost. In order to assess the pro fi tability of the interest, its value in use is based on either: ● the Group’s equity in the underlying net assets of the investee; or ● the present value of the projected future cash flows, based on the strategic plan approved by the governance bodies and its underlying assumptions, plus its terminal value, which corresponds to the present value, discounted to in fi nity, of the cash flows for the “normative year” estimated at the end of the period covered by the future cash flow projections. Measurement of equity interests and related receivables Description of risk
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Orano - Annual Activity Report 2024
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