Vallourec: EBITDA down 24% in Q3

(CercleFinance.com) - Vallourec reports a 24% drop in gross operating income (GOI) to 168 million euros for the third quarter of 2024, representing a margin of 18.
8% on sales of 894 million euros, 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 800 and 850 million euros, positive overall cash generation in the second half of the year, and further reduction in net debt in the second half compared with the second quarter.

Also confirming a return to shareholders of 80 to 100% of overall cash generation in the third quarter and future periods, the seamless tube group will announce a dividend proposal alongside its 2024 annual results.

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