Vallourec: returns to profit in Q3
(CercleFinance.com) - Vallourec has posted net income, group share of six million euros for Q3 2022, pretty much a mirror image of the loss of seven million euros in Q3 2021, while EBITDA increased 55% to 198 million euros.
Revenues increased 53.6% to 1.28 billion euros, with the tube manufacturer highlighting strong commercial momentum in the US and other areas, thanks to the long-term agreements signed with customers such as Saudi Aramco, ADNOC and Petrobras.
For FY 2022, Vallourec confirms its guidance for EBITDA of 650 to 750 million euros, with positive free cash flow in H2, thanks to the strong performance expected in Q4.
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