NEWCLEO PLC
Newcleo Ltd is a London-headquartered nuclear technology company focused on the design and development of Generation IV lead-cooled fast reactors and closed fuel cycle solutions.
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Cash
£160m
EUR 192,714,000
+60.3% vs 2023
Net assets
£300m
EUR 361,243,000
+5.7% vs 2023
Employees
777
+169.8% vs 2023
Profit before tax
-£92m
EUR -110,565,000
-84% vs 2023
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
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.
-
Going-concern uncertainty disclosed
Net assets
2-year trend · vs Industrials median
Accounts
2-year trend · Δ = latest vs prior filed period · latest reflected 2024-12-31
| Metric | Trend | 2023-12-31 | 2024-12-31 | Δ vs prior |
|---|---|---|---|---|
| Turnover | £7,944,063 | £38,771,566 | +388.1% | |
| Operating profit | -£56,719,361 | -£96,050,100 | -69.3% | |
| Profit before tax | -£49,854,078 | -£91,709,522 | -84% | |
| Net profit | -£50,031,269 | -£91,376,078 | -82.6% | |
| Cash | £99,710,762 | £159,849,038 | +60.3% | |
| Total assets less current liabilities | £306,830,539 | £322,574,652 | +5.1% | |
| Net assets | £283,570,746 | £299,637,525 | +5.7% | |
| Equity | £283,570,746 | £299,637,525 | +5.7% | |
| Average employees | 288 | 777 | +169.8% | |
| Wages | £15,853,383 | £37,135,036 | +134.2% | |
| Directors' remuneration | £331,799 | £746,516 | +125% | |
| Directors' pension contributions | £0 | £0 | — | |
| Highest paid director | £234,518 | £693,431 | +195.7% |
Figures converted to GBP from EUR at 0.829 per EUR (Frankfurter spot rate) — hover any figure for the original. — indicates the figure wasn't present under that line item in that period. The Δ column is the change from the prior filed period as a percentage of |prior|; lines a company doesn't report show —. About these numbers
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2023-12-31 | 2024-12-31 |
|---|---|---|---|
| Return on capital employed | -18.5% | -29.8% | |
| Gearing (liabilities / total assets) | 31.4% | 19.4% | |
| Current ratio | 2.87x | 4.50x | |
| Interest cover | -42.62x | -58.57x |
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. Margin ratios are hidden where reported turnover is too small relative to profit to yield a meaningful figure — typical of holding companies whose income is mostly subsidiary dividends rather than trading revenue. Sector-distribution context coming next.
Name history
Renamed 1 time since incorporation
- NEWCLEO PLC 2026-09-02 → present
- NEWCLEO LTD 2021-03-18 → 2026-09-02
Audit & accounting basis
- 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
- NEWCLEO PLC · parent
- newcleo Spa 100%
- Hydromine Nuclear Energy S.à r.l. 0%
- newcleo SA 99.98%
- newcleo Operations 99.99%
- newcleo SA 100%
- newcleo Americas LLC 100%
- newcleo Real Estate Srl 100%
- Fucina Italia Srl 100%
- Servizi Ricerche e Sviluppo Srl 100%
- Proil Srl 72%
- CCR Internazionale Scrl 90%
- Consorzio SRS Scrl 65%
- newcleo Fuel Innovations 100%
- newcleo Lead Fast Reactors Innovations 100%
- Pompes Rütschi SAS 100%
- Rütschi Fluid AG 100%
- newcleo SRO 100%
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
People
10 active · 9 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| BUKHARI, Khalil | Secretary | 2025-08-01 | — | — |
| BUONO, Stefano | Director | 2021-03-18 | Jan 1966 | Italian |
| DE BOURDONCLE DE SAINT SALVY, Anne-François Marie Joseph Louis | Director | 2025-06-18 | Aug 1954 | French |
| LEFEBVRE D'OVIDIO DE CLUNIERES DI BALSORANO, Manfredi | Director | 2025-05-06 | Apr 1953 | Italian |
| LEVI, Andrea Ruben Osvaldo | Director | 2022-03-21 | Jun 1964 | Italian |
| LYASH, Jeffrey | Director | 2026-09-21 | Sep 1961 | American |
| MAEUSLI, Heinz | Director | 2026-09-21 | Jan 1963 | Swiss,American |
| PETRONE, Raffaele | Director | 2022-03-21 | Jan 1965 | Italian |
| RIZZOTTI, Elisabeth | Director | 2025-06-18 | Sep 1965 | Italian |
| TAHERIAN, Sezaneh (Suzy) | Director | 2026-09-21 | Nov 1968 | American |
Show 9 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| MAHMOOD, Basit | Secretary | 2022-08-01 | 2025-07-31 |
| CLAIRE SCOTT & PA LTD | Corporate Secretary | 2021-04-14 | 2021-09-17 |
| PORTMAN GOVERNANCE LTD | Corporate Secretary | 2021-09-17 | 2022-08-01 |
| KELBIE, Adrienne | Director | 2022-03-21 | 2026-09-21 |
| KERLE, Kathryn Hertel | Director | 2022-03-21 | 2023-06-09 |
| PARLY, Florence | Director | 2023-04-06 | 2025-05-06 |
| PYKE, Julia Natasha | Director | 2022-03-21 | 2023-04-06 |
| RAOUX-FONTANET, Corine | Director | 2023-06-09 | 2025-05-06 |
| ZUCCARO, Carlo | Director | 2021-03-18 | 2025-01-31 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Mr Stefano Buono | Individual | Shares 25–50%, Voting 25–50%, Appoints directors | 2021-05-26 | Ceased 2021-10-21 |
| Mr. Luciano Cinotti | Individual | Shares 25–50%, Voting 25–50%, Appoints directors | 2021-04-20 | Ceased 2021-10-21 |
| Mr Stefano Buono | Individual | Shares 50–75%, Voting 50–75%, Appoints directors | 2021-03-18 | Ceased 2021-04-20 |
Filing timeline
Last 20 of 163 total filings
Material constitutional events — rename, articles re-file, resolution
- 2026-10-15 RESOLUTIONS Resolution
- 2026-09-02 CERT5 Certificate re registration private to public limited company
- 2026-09-02 RESOLUTIONS Resolution
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-10-20 | AA | accounts | Accounts with accounts type group | |
| 2026-10-15 | RESOLUTIONS | resolution | Resolution | |
| 2026-10-15 | AP01 | officers | Appoint person director company with name date | |
| 2026-10-02 | SH01 | capital | Capital allotment shares | |
| 2026-10-01 | AD02 | address | Change sail address company with old address new address | |
| 2026-10-01 | AD02 | address | Change sail address company with old address new address | |
| 2026-10-01 | AP01 | officers | Appoint person director company with name date | |
| 2026-09-30 | AP01 | officers | Appoint person director company with name date | |
| 2026-09-29 | AD03 | address | Move registers to sail company with new address | |
| 2026-09-29 | TM01 | officers | Termination director company with name termination date | |
| 2026-09-29 | SH15 | capital | Capital reduction of capital redomination | |
| 2026-09-29 | SH14 | capital | Capital redomination of shares | |
| 2026-09-28 | SH02 | capital | Capital alter shares consolidation | |
| 2026-09-28 | SH10 | capital | Capital variation of rights attached to shares | |
| 2026-09-28 | SH08 | capital | Capital name of class of shares | |
| 2026-09-02 | CERT5 | change-of-name | Certificate re registration private to public limited company | |
| 2026-09-02 | MAR | incorporation | Re registration memorandum articles | |
| 2026-09-02 | BS | accounts | Accounts balance sheet | |
| 2026-09-02 | RESOLUTIONS | resolution | Resolution | |
| 2026-09-02 | AUDR | auditors | Auditors report |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 20
- Capital events
- 6
- Officers appointed
- 3
- Officers resigned
- 1
last 12 months
last 24 months
last 12 months
last 12 months
Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.