NEWCLEO LTD

• ⚠

  Material uncertainty over going concern

  The board considers the failure of refinancing options for its profitable subsidiaries or failure to finalise and secure funding within 12 months from the date of approval of these financial statements, as a significant risk for the Group and Company in their ability to continue as a going concern. As such, these conditions indicate the existence of a material uncertainty that may cast significant doubt on the Group's and Company's ability to continue as a going concern.

• ◆

  3 officer resignations in last 12 months

  Multiple officers have left the board recently — see the People section for who.

Figures converted to GBP from EUR at 0.870 per EUR (Frankfurter spot rate) — hover any figure for the original. — indicates the figure wasn't present under that line item in that period. About these numbers

• Turnover

  +411.1%

  £7,953,735 → £40,649,622

• Cash

  +67.9%

  £99,832,159 → £167,591,965

• Net assets

  +10.6%

  £283,915,993 → £314,151,665

• Employees

  +169.8%

  288 → 777

• Operating profit

  -77.3%

  -£56,788,416 → -£100,702,670

• Profit before tax

  -92.6%

  -£49,914,775 → -£96,151,839

• Wages

  +145.3%

  £15,872,685 → £38,933,820

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

IFRS

Reporting scope

Consolidated group

Auditor

PricewaterhouseCoopers LLP

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“The board considers the failure of refinancing options for its profitable subsidiaries or failure to finalise and secure funding within 12 months from the date of approval of these financial statements, as a significant risk for the Group and Company in their ability to continue as a going concern. As such, these conditions indicate the existence of a material uncertainty that may cast significant doubt on the Group's and Company's ability to continue as a going concern.”

Group structure

1. NEWCLEO LTD · parent
   1. newcleo Spa 100% · Italy · Developing IP to be licensed to Group companies.
   2. Hydromine Nuclear Energy S.à r.l. 0% · Luxembourg · Owner of Patents related to reactor design
   3. newcleo SA 99.98% · France · Holding Company
   4. newcleo Operations 99.99% · France · Construction and operation of SMRS
   5. newcleo SA 100% · Switzerland · Non-trading
   6. newcleo Americas LLC 100% · USA · Non-trading
   7. newcleo Real Estate Srl 100% · Italy · Real estate
   8. Fucina Italia Srl 100% · Italy · Manufacturing
   9. Servizi Ricerche e Sviluppo Srl 100% · Italy · Engineering
   10. Proil Srl 72% · Italy · Engineering
   11. CCR Internazionale Scrl 90% · Italy · Engineering
   12. Consorzio SRS Scrl 65% · Italy · Engineering
   13. newcleo Fuel Innovations 100% · France · Engineering
   14. newcleo Lead Fast Reactors Innovations 100% · France · Engineering
   15. Pompes Rütschi SAS 100% · France · Manufacturing
   16. Rütschi Fluid AG 100% · Switzerland · Engineering
   17. newcleo SRO 100% · Slovakia · Construction and operation of SMRS

Significant events

• “On 30 September 2024, the Group completed a restructure by transferring the 7assets, including all subsidiaries, held by newcleo Ltd to a new legal entity in France, newcleo Holding SA (subsequently renamed newcleo SA on 25 November 2024).”
• “On 30 September 2024, newcleo Ltd closed the UK phase of a Series A capital raise, raising €135.3m, with €70.2m subscribed during the previous year and €65.2m subscribed during 2024 after costs.”
• “During April 2024, the UK's Nuclear Industry Association applied for a justification decision for newcleo's lead cooled fast reactor, the LFR-AS-200.”
• “On 26 June 2024, newcleo completed the "preparatory stage" set up by the French authorities for developers of small modular reactor projects to facilitate, secure and accelerate the review of licence applications.”
• “newcleo announced on 2 December 2024 the submission of a Generic Design Assessment ("GDA") application in Great Britain for its commercial scale LFR-AS-200 technology.”
• “On 16 December 2024, newcleo submitted its Safety Option File (DOS) to the Nuclear Safety Authority (ASN) in France for its fuel assembly testing facility.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

20

last 12 months

Capital events

18

last 24 months

Officers appointed

4

last 12 months

Officers resigned

3

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.