Vallourec: Q3 EBITDA down 24%
(CercleFinance.com) - Vallourec reports a 24% fall in Q3 2024 gross operating income (GOI) to E168m, representing a margin of 18.
8% on sales of E894m, down 22% (-18% at constant exchange rates).
This decline reflects a volume effect of -15%, mainly due to lower deliveries of tubes for industry following the closure of European rolling mills, a price/mix effect of -1%, an impact linked to the mining and forestry segment of -2% and a currency effect of -4%.
Vallourec confirms its outlook for 2024 EBITDA of between E800m and E850m, positive overall cash generation in H2, and a further reduction in net debt in H2 compared with Q2.
Also confirming an 80% to 100% return to shareholders of overall cash generation in Q3 and future periods, the seamless tube group will announce a dividend proposal alongside its 2024 annual results.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
8% on sales of E894m, down 22% (-18% at constant exchange rates).
This decline reflects a volume effect of -15%, mainly due to lower deliveries of tubes for industry following the closure of European rolling mills, a price/mix effect of -1%, an impact linked to the mining and forestry segment of -2% and a currency effect of -4%.
Vallourec confirms its outlook for 2024 EBITDA of between E800m and E850m, positive overall cash generation in H2, and a further reduction in net debt in H2 compared with Q2.
Also confirming an 80% to 100% return to shareholders of overall cash generation in Q3 and future periods, the seamless tube group will announce a dividend proposal alongside its 2024 annual results.
Copyright (c) 2024 CercleFinance.com. All rights reserved.