French seamless steel pipe maker Vallourec has reported 30% YoY surge in revenue to EUR 916 million in January-March 2022 quarter. Vallourec’s Chairman & CEO Mr Philippe Guillemot said “Stepping up the execution of our strategy with a stronger focus on value and performance will enable the group to benefit further from its leading positions, with a resized industrial footprint and a more agile organization. In the context of stronger E&P drilling fundamentals, Vallourec is ideally positioned to seize attractive growth opportunities ahead. The group benefits from its unique assets, solid engineering culture, strong customer relationships and global reach with market leading products. I am confident that the group will deliver this year stronger profitability, significantly above last year's. The group's transformation will also be driven by an increased focus on energy transition opportunities, preparing for a future low-carbon economy. With this agile and entrepreneurial approach, we will build a new Vallourec that is stronger, more efficient and innovative for the years to come."-----------------------------------January-March 2022 QuarterProduction shipped – 0.395 million tonnes, up 10.3% YoYRevenue- EUR 916 million, up 30.5% YoYEBITDA – EUR 45 million, down by EUR 35 million YoYNet income – EUR 35 million, up by EUR 58 million YoY----------OutlookIn North America, the very favorable market conditions should continue and even improve in H2 2022, in both price and volume terms.In EA-MEA, volumes are expected to significantly recover from Q2 onward; cost increases to be passed on to customers.In South America, volumes are expected to increase leading to margin increase throughout the year.In Europe, prices are expected to increase to fully offset cost inflation.In Brazil, volumes are expected to increase slightly, with price increases fully offsetting cost inflation. Vallourec has partially restarted mining operations, while H2 activity depends on validation of waste pile stability by the authoritiesBased on these market trends and assumptions, particularly related to the operations of the iron ore mine, EBITDA is now expected to increase significantly for FY 2022 compared to prior year.Vallourec is a multinational manufacturing company headquartered in Meudon in France. Vallourec specializes in hot rolled seamless steel tubes, expandable tubular technology, automotive parts, and stainless steel, which it provides to energy, construction, automotive, and mechanical industries.
French seamless steel pipe maker Vallourec has reported 30% YoY surge in revenue to EUR 916 million in January-March 2022 quarter. Vallourec’s Chairman & CEO Mr Philippe Guillemot said “Stepping up the execution of our strategy with a stronger focus on value and performance will enable the group to benefit further from its leading positions, with a resized industrial footprint and a more agile organization. In the context of stronger E&P drilling fundamentals, Vallourec is ideally positioned to seize attractive growth opportunities ahead. The group benefits from its unique assets, solid engineering culture, strong customer relationships and global reach with market leading products. I am confident that the group will deliver this year stronger profitability, significantly above last year's. The group's transformation will also be driven by an increased focus on energy transition opportunities, preparing for a future low-carbon economy. With this agile and entrepreneurial approach, we will build a new Vallourec that is stronger, more efficient and innovative for the years to come."-----------------------------------January-March 2022 QuarterProduction shipped – 0.395 million tonnes, up 10.3% YoYRevenue- EUR 916 million, up 30.5% YoYEBITDA – EUR 45 million, down by EUR 35 million YoYNet income – EUR 35 million, up by EUR 58 million YoY----------OutlookIn North America, the very favorable market conditions should continue and even improve in H2 2022, in both price and volume terms.In EA-MEA, volumes are expected to significantly recover from Q2 onward; cost increases to be passed on to customers.In South America, volumes are expected to increase leading to margin increase throughout the year.In Europe, prices are expected to increase to fully offset cost inflation.In Brazil, volumes are expected to increase slightly, with price increases fully offsetting cost inflation. Vallourec has partially restarted mining operations, while H2 activity depends on validation of waste pile stability by the authoritiesBased on these market trends and assumptions, particularly related to the operations of the iron ore mine, EBITDA is now expected to increase significantly for FY 2022 compared to prior year.Vallourec is a multinational manufacturing company headquartered in Meudon in France. Vallourec specializes in hot rolled seamless steel tubes, expandable tubular technology, automotive parts, and stainless steel, which it provides to energy, construction, automotive, and mechanical industries.
