France-based pipe manufacturer Vallourec has announced that it has achieved its target of reaching zero net debt one year ahead of schedule. The company reduced its net debt by slightly more than €240 million in the fourth quarter of 2024.
For 2024, Vallourec expects its EBITDA to be in the range of €800-850 million.
Philippe Guillemot, CEO of the company, commented, “Since the third quarter of 2022, we have reduced our net debt by over €1.5 billion, and completely reshaped our debt and liquidity facilities. With this major balance sheet transformation, our significant and ongoing operational improvements including the optimization of our industrial footprint, and our high value-added products and services strategy, our objective of making Vallourec crisis-proof is now complete. We are now ready to deliver on our goal of returning capital to shareholders by paying our first dividend in a decade in 2025.”