In 2023, Navoiyuran, Uzbekistan’s leading uranium producer, achieved a remarkable 92.7% increase in revenue, reaching 11.6 trillion UZS. The company’s gross profit from product sales and operating profit more than doubled, hitting 8.67 trillion UZS and 6.15 trillion UZS, respectively. This significant growth underscores Navoiyuran’s strong performance in the global uranium market.
The company’s retained earnings stood at 6.16 trillion UZS, while its net profit surged from 2.64 trillion UZS in 2022 to 5.31 trillion UZS in 2023, marking a twofold increase. However, total expenses also rose sharply, growing 2.6 times to exceed 2.53 trillion UZS. The primary driver of this increase was a more than threefold jump in other operating expenses, which climbed from 0.65 trillion UZSto 2.14 trillion UZS.
Earlier in January, Navoiyuran reported a doubling of output in monetary terms, from 6.7 trillion UZSto 13.7 trillion UZS. The company also solidified its position as one of Uzbekistan’s top three taxpayers, contributing 4.6 trillion UZS to the state budget in 2023.
Navoiyuran, which ranks sixth globally in uranium production, accounts for 7% of the world’s uranium output, producing over 3,800 tons annually. In 2023, Uzbekistan’s uranium concentrate production increased by 11%, reaching 6.7 trillion UZS in eight projects in 2024, including $50 million in foreign investments.
