Cameco Reports Expected Increase in Its Share of Westinghouse 2025 Adjusted EBITDA

Cameco Reports Expected Increase in Its Share of Westinghouse 2025 Adjusted EBITDA

All amounts in Canadian dollars unless specified otherwise

Cameco (TSX: CCO; NYSE: CCJ) reports an expected increase of approximately $170 million (US) in our 49% equity share of Westinghouse Electric Company's (Westinghouse) 2025 second quarter and annual adjusted EBITDA. The expected increase is tied to Westinghouse's participation in the construction project for two nuclear reactors at the Dukovany power plant in the Czech Republic. This expected increase will be taken into consideration in determining the 2025 distribution payable by Westinghouse to Cameco.

In addition to the increase in adjusted EBITDA in 2025, we expect significant financial benefits for Westinghouse, as a subcontractor, over the term of the Dukovany construction project and related to the provision of the fuel fabrication services required for both reactors for a specified period. The outlook for Westinghouse's compound annual growth rate for adjusted EBITDA remains 6% to 10% over the next five years, excluding the impact of the expected $170 million (US) increase in its 2025 adjusted EBITDA.

Cameco owns a 49% interest in Westinghouse and its partner, Brookfield Renewable Partners, owns the remaining 51%.

Caution about forward-looking information
This news release includes statements and information about our expectations for the future, which we refer to as forward-looking information. Forward-looking information is based on our current views, which can change significantly, and actual results and events may be significantly different from what we currently expect. Examples of forward-looking information in this news release include our expectations regarding: Westinghouse's participation in the Dukovany power plant construction project; an increase in Westinghouse's adjusted EBITDA; Westinghouse taking this increase into consideration in determining the 2025 distribution payable to Cameco; the financial benefits for Westinghouse, as subcontractor, over the term of the Dukovany construction project and the expected future growth in Westinghouse's compound annual growth rate for adjusted EBITDA. Material risks that could lead to different results include the risk that Westinghouse is not able to participate in the Dukovany construction project on a basis that achieves the currently expected benefits to Westinghouse for any reason, or that Cameco may not derive the expected increases in its share of Westinghouse's adjusted EBITDA, or that Westinghouse does not achieve the expected future annual growth in adjusted EBITDA. In presenting the forward-looking information, we have made material assumptions which may prove incorrect about Westinghouse's participation in the Dukovany construction project and related potential benefits to Westinghouse, and continuing growth in Westinghouse's compound annual growth rate for adjusted EBITDA.

Non-IFRS Measures
Adjusted EBITDA is a measure that does not have a standardized meaning or a consistent basis of calculation under International Financial Reporting Standards (a non-IFRS measure). Westinghouse's adjusted EBITDA is defined as its net income, adjusted for the impact of certain expenses, costs, charges or benefits incurred in such period which are either not indicative of underlying business performance or that impact the ability to assess the operating performance of its business. For more information regarding our use of this non-IFRS measure see our most recent annual and quarterly Management's Discussion and Analysis.

Profile
Cameco is one of the largest global providers of the uranium fuel needed to power a secure energy future. Our competitive position is based on our controlling ownership of the world's largest high-grade reserves and low-cost operations, as well as significant investments across the nuclear fuel cycle, including ownership interests in Westinghouse Electric Company and Global Laser Enrichment. Utilities around the world rely on Cameco to provide global nuclear fuel solutions for the generation of safe, reliable, carbon-free nuclear power. Our shares trade on the Toronto and New York stock exchanges. Our head office is in Saskatoon, Saskatchewan, Canada.

As used in this news release, the terms we, us, our, the Company and Cameco mean Cameco Corporation and its subsidiaries unless otherwise indicated.

Investor inquiries  
Cory Kos
306-716-6782
cory_kos@cameco.com

Media inquiries  
Veronica Baker
306-385-5541
veronica_baker@cameco.com

News Provided by Business Wire via QuoteMedia

CCO:CA
The Conversation (0)
Cameco Corporation

Cameco Corporation

Cameco is one of the world's largest uranium producers. When operating at normal production, the flagship McArthur River mine in Saskatchewan accounts for roughly 50% of output in normal market conditions. Amid years of uranium price weakness, the company has reduced production, instead purchasing from the spot market to meet contracted deliveries. In the long term, Cameco has the ability increase annual uranium production by restarting shut mines and investing in new ones. In addition to its large uranium mining business, Cameco operates uranium conversion and fabrication facilities.

Cameco and Energoatom Agree on Commercial Terms to Supply Ukraine's Full Natural UF6 Needs through 2035

Cameco and Energoatom Agree on Commercial Terms to Supply Ukraine's Full Natural UF6 Needs through 2035

SE NNEGC Energoatom (Energoatom), Ukraine's state-owned nuclear energy utility, and Cameco Corporation (Cameco) (TSX: CCO; NYSE: CCJ), one of the largest global producers of uranium fuel based in Canada, have reached agreement on commercial terms for a major supply contract for Cameco to provide sufficient volumes of natural uranium hexafluoride, or UF 6 (consisting of uranium and conversion services), to meet Ukraine's full nuclear fuel needs through 2035. Key commercial terms, such as pricing mechanism, volume and tenor, have been agreed to, but the contract is subject to finalization, which is anticipated in the first quarter of 2023.

"Energoatom will keep working on achieving the energy independence of Ukraine. The development of cooperation between companies in the production and supply of nuclear materials and nuclear fuel is one of the most important conditions for the further safe functioning of our domestic nuclear power generation," said Petro Kotin, President of Energoatom.

News Provided by Business Wire via QuoteMedia

Keep reading...Show less
Cameco and Brookfield Renewable Form Strategic Partnership to Acquire Westinghouse Electric Company

Cameco and Brookfield Renewable Form Strategic Partnership to Acquire Westinghouse Electric Company

Currency: U.S. dollars unless otherwise stated

  • Westinghouse is an industry leader with a strong market position across the nuclear value chain
  • Nuclear power expected to see significant growth driven by energy security and decarbonization trends
  • Acquisition will provide opportunities to generate value and grow the business globally

Cameco Corporation ("Cameco") (NYSE: CCJ; TSX: CCO) and Brookfield Renewable Partners ("Brookfield Renewable") (NYSE: BEP, BEPC; TSX: BEP.UN, BEPC), together with its institutional partners ("the consortium"), are forming a strategic partnership to acquire Westinghouse Electric Company ("Westinghouse"), one of the world's largest nuclear services businesses.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Baselode Energy

Baselode Intersects Best Drill Hole To Date, 25 Metres From Surface

  • AK22-051 intersected 2,320 cps over 30.1 m starting at 27.0 m drill hole depth, ranks as the best drill hole on the project, and includes six separate intervals of >10,000 cps*
  • AK22-047 intersected 5,229 cps over 7.35 m at 140.65 m , ranks as second-best drill hole on the project, and includes eight separate intervals of >10,000 cps

Baselode Energy Corp. (TSXV: FIND) (OTCQB: BSENF) (" Baselode " or the " Company ") is pleased to provide an update on the ongoing 20,000 metre diamond drilling program (the " Program ") on the ACKIO high-grade uranium discovery (" ACKIO "), Hook project (" Hook "), Athabasca Basin area (the " Basin "), northern Saskatchewan ( see Figure 1 and Table 1 ).

"We continue to hit mineralization at the overburden contact; within 25 m from surface. The mineralization from AK22-051 is the shallowest being drilled in the Basin. This rarity of near-surface mineralization with high levels of radioactivity sets Baselode apart from our peers as there's no other recent discovery this close to surface. Near-surface mineralization has been a key characteristic required for numerous Basin deposits going into production as open pit mines. Holes AK22-051 and AK22-047 are substantially the two best drill holes on ACKIO to date in terms of continuously elevated radioactivity. They also have the highest average levels of radioactivity, and each includes multiple discrete intersections with greater than 10,000 cps. We're excited to see ACKIO grow with near-surface mineralization, including consistently higher levels of radioactivity. AK22-051 remains open in all directions and AK22-047 remains open to the east," said James Sykes , CEO, President and Director of Baselode.

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Premier American Uranium to Acquire Nuclear Fuels, Creating One of America's Largest Pure-Play Uranium Explorers

Premier American Uranium to Acquire Nuclear Fuels, Creating One of America's Largest Pure-Play Uranium Explorers

Premier American Uranium Inc. ("PUR" or "Premier American Uranium") (TSXV: PUR, OTCQB: PAUIF) and Nuclear Fuels Inc. ("NF" or "Nuclear Fuels") (CSE: NF, OTCQX: NFUNF) are pleased to announce that they have entered into an arm's length definitive agreement (the " Arrangement Agreement ") dated June 4, 2025, pursuant to which Premier American Uranium has agreed to acquire all of the issued and outstanding common shares of Nuclear Fuels (the " NF Shares ") by way of a court-approved plan of arrangement (the " Arrangement " or the " Transaction "). Nuclear Fuels holds a 100% interest in the Kaycee Uranium Project (" Kaycee ") located in Wyoming's prolific Powder River Basin (Figure 1). The Kaycee Project spans a 35-mile trend of altered and mineralized sandstones, supported by over 4,200 drill holes and 430 miles of mapped roll fronts. In addition to Kaycee, Nuclear Fuels also holds five exploration-stage projects across key uranium districts in Wyoming, Utah, and Arizona.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Blue Sky Confirms Uranium Discovery Potential at its ISR Corcovo Project, Argentina

Blue Sky Confirms Uranium Discovery Potential at its ISR Corcovo Project, Argentina

TSX Venture Exchange: BSK
Frankfurt Stock Exchange: MAL2
OTCQB Venture Market (OTC): BKUCF

Blue Sky Uranium Corp. (TSXV: BSK) (FSE: MAL2) (OTC: BKUCF) ("Blue Sky" or the "Company") is pleased to announce the results of the initial technical review work completed at the Corcovo Uranium Project, an "in situ" recovery (" ISR ") high potential target in Mendoza Province Argentina . The geological team has reviewed and interpreted bore-hole survey data from 89 historical oil and gas (" O&G ") wells, identifying radiometric anomalies at four different stacked horizons, including significant sections up to 10m in thickness along an open trend of more than 10km long (see Figure 1 ).

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Northern Saskatchewan Operations Update

Northern Saskatchewan Operations Update

News Provided by Business Wire via QuoteMedia

Keep reading...Show less
GoviEx Uranium Appoints Experienced Project Metallurgist as It Advances Muntanga Uranium Project

GoviEx Uranium Appoints Experienced Project Metallurgist as It Advances Muntanga Uranium Project

  • Seasoned metallurgist with heap leach and uranium experience to lead process plant development
  • Hiring supports potential lenders' due-diligence process and transition from design to operations

GoviEx Uranium Inc. (TSXV: GXU) (OTCQB: GVXXF) ("GoviEx" or "the Company") is pleased to announce that it has appointed Mr. Deogratias M. Bukunkwe as Project Commissioning Metallurgist to further advance the development of its Muntanga uranium project in Zambia (the "Muntanga Project").

Mr.  Bukunkwe, a Zambian national, brings more than 25 years of process start-up and operations experience, including senior start up roles at Kayelekera and Langer Heinrich uranium mines, leading the Operational Readiness at DRA Minopex, and most recently serving as Commissioning Manager on Freeport-McMoRan's Grasberg Gold and Copper Cleaner Concentrator in Indonesia.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Purepoint Announces Amendment of Omnibus Equity Incentive Compensation Plan

Purepoint Announces Amendment of Omnibus Equity Incentive Compensation Plan

Purepoint Uranium Group Inc. (TSXV: PTU) (OTCQB: PTUUF) (the "Company") announced that its proposed amendment to its Omnibus Equity Incentive Compensation Plan (the "Omnibus Plan") was approved by the Company's shareholders at its annual and special meeting of shareholders held on May 28, 2025. The amendment increased the number of common shares of the Company reserved for grant of restricted share units ("RSUs") and performance share units ("PSUs") under the Omnibus Plan from 3,688,894 to 6,426,776, representing 10% of the issued and outstanding shares of the Company as of today. The amended Omnibus Plan includes a 10% "rolling" option plan and a fixed plan permitting 6,426,776 common shares of the Company to be reserved for grant of RSUs and PSUs. Please refer to the Company's management information circular dated April 16, 2025, which is available under the Company's profile at www.sedarplus.ca for a copy and a summary of the amended Omnibus Plan.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×