Vallourec: back in profit in Q1
(CercleFinance.com) - 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.
Copyright (c) 2023 CercleFinance.com. All rights reserved.
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.
Copyright (c) 2023 CercleFinance.com. All rights reserved.