Message from the Management

Ekaterina Lyakhova Chair of the Board of Directors of JSC Atomenergoprom

Dear colleagues and partners!

We would like to present the annual report of JSC Atomenergoprom for 2020.

In the reporting year, the Company had to operate in a challenging environment amid the coronavirus pandemic. JSC Atomenergoprom demonstrated its resilience in times of crisis and its social responsibility by contributing to the fight against COVID-19.

Within a very short time, enterprises in the industry provided the necessary capabilities for working remotely, protecting employees and rotating the personnel at overseas sites. Special precautions were taken to protect those employees who possess critical knowledge. The Company arranged regular testing. Backup was provided for all senior executives in the industry. The Company also launched a large-scale vaccination campaign covering not only its employees but also the residents of nuclear towns and cities. As at the date of this Report, over 75,000 people had already been vaccinated.

Radiation technology developed by the Company was used in order to sterilise several dozens of millions of medical face masks.

At the same time, 2020 is a landmark year as it marks a double anniversary: that of the victory in the Great Patriotic War and the 75th anniversary of establishment of the nuclear industry.

In 2020, JSC Atomenergoprom remained a leader in low-carbon power generation in Russia. Electricity output at NPPs reached a new all-time high of 215.7 billion kWh, accounting for 20.3% of the country’s total electricity output. This helped to prevent greenhouse gas emissions totalling 108 million tonnes of CO2 equivalent.

Kirill Komarov Director of JSC Atomenergoprom

The Company also demonstrated a strong financial performance in difficult times. Its revenue under IFRS increased by 4.8% year on year to RUB 931.6 billion, while EBITDA reached RUB 344.6 billion. Profit under IFRS for the reporting period totalled RUB 169.1 billion.

Despite having to operate in a challenging environment, the Company achieved all its operational targets. It completed the power start-up of new generation 3+ nuclear power units equipped with VVER-1200 reactors and meeting the highest safety standards at Leningrad NPP-2 and the Belarusian NPP.

The Company operates on a global scale; its product portfolio includes 11 strategic programmes. New products offered by the Company provide new opportunities for developing healthcare and municipal infrastructure, improving environmental safety and making progress in other key areas relevant to sustainable development.

JSC Atomenergoprom’s portfolio also includes the wind power generation business. In 2020, two of the Company’s wind farms (the Adygea Wind Power Plant and the Kochubeyevskaya Wind Power Plant) started to supply electricity to the Russian wholesale market, with the capacity of wind power plants to be built by the Company totalling 1.2 GW.

Safety remains our top priority. Throughout 2020, all nuclear facilities operated safely and reliably. In the coming year, the Company aims to break the record for electricity output, secure contracts for the construction of new small-scale nuclear power plants, namely five floating power units, and put new wind power plants into operation.

The Company’s objectives in the sphere of international business include achieving first criticality at power unit No. 2 of the Belarusian NPP and obtaining licences for NPP construction in Europe.

In 2021, the Company plans to launch a research programme focused on hydrogen-based nuclear energy in cooperation with foreign partners and to develop technological solutions for the incineration of minor actinides and reusing regenerated fuel.

We would like to thank all employees of JSC Atomenergoprom’s organisations for the work that they have done. By working together, we will be able to rise to any challenges and accomplish our ambitious strategic objectives!

Key results


Indicator  2018  2019* 2020  2020/2019 
Revenue under IFRS, RUB billion 788.1 889.0 931.6 +4.8%
EBITDA1, RUB billion 243.7 346.6 344.6 -0.5%
Profit under IFRS, RUB billion 210.2 143.6 169.1 +17.8%
Assets under IFRS, RUB billion 3,196.2 3,408.2 3,716.3 +9%
Intangible assets, RUB billion 182.2 157.6 186.6 +18.4%
Nuclear power generation, billion kWh 204.3 208.8 215.7 +3.3%
NPP capacity factor, % 79.9 80.4 81.1 +0.9%
Uranium resources, ‘000 tonnes 520.7 512.7 509.4 -0.6%
Uranium production, tonnes 7,289 7,528 7,122 -5.4%
Overseas NPP construction projects, number of power units2 36 36 36**
Portfolio of orders for new products (outside the scope of the nuclear industry), RUB billion3 1,082.6 1,169.1 1,602.1 +37%
Average salary in JSC Atomenergoprom, RUB ‘000 per month 85.3 88.15 95.2 +8%
Events rated at level 1 and above on the INES scale, number 0 0 0

*Hereinafter in the Report, data for 2019 have been recalculated due to the recognition of a common-control transaction in the consolidated financial statements in 2020. ROSATOM paid for an additional share issue of JSC Atomenergoprom by transferring a 100% shareholding in JSC Isotope. As a result, the Group acquired control over JSC Isotope. Given that JSC Isotope had been controlled by ROSATOM, this transaction has been recognised in the consolidated financial statements as a common-control transaction; accordingly, comparative data for 2019 have been retrospectively adjusted. In addition, comparative data for 2019 have been recalculated in order to reflect the effect of fair value measurement of assets and liabilities recognised as at the date of acquisition of control over TITAN 2 IC ICTAS.

**Including power unit No. 1 of the Belarusian NPP, which was synchronised with the power grid and started to supply electricity to the integrated power system of the Republic of Belarus on 3 October 2020.

1EBITDA = Operating results + Impairment of receivables + Depreciation and amortisation + Adjustments for non-cash items of other expenses and income. Data for 2019 have been recalculated. 2020.

2Including the project portfolio of ROSATOM.

3Including the order portfolio of ROSATOM.

Key Events in 2020

  • Electricity output at 35 power units of 10 operating NPPs and the power unit of the floating thermal nuclear power plant with two reactor units reached a new all-time high of 215.7 billion kWh.
  • The team of the Russian nuclear industry won the WorldSkills Hi-Tech National Competition for the sixth time.
  • No events rated at level 1 or higher on the international INES scale were detected at nuclear facilities (deviations rated at level 0 do not pose a risk to employees operating the facilities, local residents or the environment).
  • The 150 MW Adygea Wind Power Plant and the 210 MW Kochubeyevskaya Wind Power Plant started to supply electricity to the Russian wholesale market.
  • Six new digital products came on the open market: the Infrastructure Platform for the Hosting of Modular and Containerised Data Centres; Atombot. Procurement; the Multi-D Unified Time Schedule; Logos Strength; the Mobile Data Centre and the PILOT Access Control System.
  • The Unified Industry Policy on Sustainable Development of JSC Atomenergoprom and ROSATOM was approved.
  • The Company signed contracts for the supply of nuclear fuel and its components for NPPs and research reactors in the Czech Republic, Egypt and India.
  • The Company reached agreement with JSC Gazprombank on raising a sustainable loan to finance the second stage of a 340 MW wind farm, with the price terms of the loan linked with the achievement of sustainable development targets at the construction and operation stages of the project.

JSC Atomenergoprom

JSC Atomenergoprom (full name — Joint Stock Company Atomic Energy Power Corporation, short name — AEP) is a Russian state vertical integrated company (currently in the process of organization), which unites circa 50 enterprises of the nuclear industry. Atomenergoprom provides full production cycle of nuclear power engineering — from uranium production to nuclear power plant construction and energy generation. AEP already includes such large companies as Rosenergoatom Concern (#2 in the world by nuclear electricity generation) TVEL (16,3% of the world nuclear fuel market), TENEX.

AEP was established in order to consolidate the assets of the civilian part of the Russian nuclear industry which has a history of over 70 years. It has absorbed the unique experience accumulated across the whole range of technologies of nuclear fuel cycle and nuclear power plant construction. This huge experience is the basis of Atomenergoprom leadership in the world market of nuclear technologies.

Official website:

Sustainable Development 2020

As part of its commitment to sustainable development, in 2020, ROSATOM joined the UN Global Compact, the world’s largest corporate sustainability (corporate social responsibility) initiative with over 13,000 corporate participants in more than 160 countries. In December 2020, ROSATOM also joined the UN Global Compact Network Russia (the Association ‘National Network of the Global Compact’).

In the course of its operations, JSC Atomenergoprom is guided by global sustainable development priorities and adheres to the 10 principles of the UN Global Compact. The Company contributes to the achievement of the UN Sustainable Development Goals (SDGs) through its product line, its financial and economic performance and its efforts to ensure the sustainability of internal environmental, social and governance processes.

JSC Atomenergoprom.
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