Cameco sees increase in its share of Westinghouse 2025 adjusted EBITDA

Cameco (CCJ) reports an expected increase of approximately $170M in its 49% equity share of Westinghouse Electric Company’s 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, the company expects 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 $170M increase in its 2025 adjusted EBITDA. Cameco owns a 49% interest in Westinghouse and its partner, Brookfield Renewable Partners, owns the remaining 51%.