Vallourec: raises FY EBITDA estimate

(CercleFinance.com) - On its quarterly earnings call, Vallourec said that it now expects 2023 EBITDA of E1,075m to E1,175m (compared with EBITDA of E950m to E1.
1bn previously).

The group posted Q3 net income of E76m (vs. just E6m a year ago), with EBITDA up 12% at E222m, driven by the solid profitability of the tubes segment.

At E1.14bn, sales nevertheless fell by 11% (-5% at constant exchange rates), mainly reflecting a volume effect of -26%, although this was largely offset by a price/mix effect of +20%.


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