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Vallourec: back in profit in Q1

( - Vallourec has published positive net income, group share of E156m for Q1 2023, against a loss of E35m a year ago, as well as a seven-fold increase in gross operating profit to E320m.

The seamless tube manufacturer recorded sales of E1.34bn, up 46% (+41% at constant exchange rates), in particular reflecting a volume effect of +9% and a positive price/mix effect of +26%.

Vallourec has confirmed its targets for 2023, including an increase in EBITDA, positive free cash flow and a reduction in net debt. It also reiterates its target of achieving zero net debt by the end of 2025.

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