France-based pipe manufacturer Vallourec has announced its financial result expectations for the full year of 2023. The company forecasts that its EBITDA for the whole year will exceed its prior outlook.
Accordingly, the company anticipates its EBITDA for the given year will exceed €1.19 billion, compared to the previous forecast of €1.07-1.17 billion. This sequential improvement in EBITDA is attributable to an increase in sales volumes, driven by higher shipments in North America. The higher sales volumes in North America more than offset pricing declines in the region. As a result, the company will deliver its best EBITDA in nearly 15 years.
In addition, Vallourec expects its sales revenues and tube sales volume to total €5.11 billion and 1.55 million mt in 2023, respectively.