France-based pipe manufacturer Vallourec has announced its financial results for the fourth quarter and the full year of 2022.
In the fourth quarter last year, Vallourec’s sales revenue increased by 45.2 percent year on year to €1.54 billion, while it reported EBITDA of €312 million, compared to €136 million in the fourth quarter of 2021.
In 2022, the company’s sales revenue totaled €4.88 billion, up by 41.8 percent year on year, due to higher sales volumes, while its EBITDA was €715 million, compared to €492 million in the same period last year.
In the fourth quarter, the company’s tubes sales volume rose by 0.7 percent to 514,000 mt, while in the full year its tubes sales volume totaled 1.8 million mt, up by 9.7 percent year on year.
Vallourec chairman and CEO Philippe Guillemot stated that 2022 was an excellent year for Vallourec operationally, commercially, and financially.
Based on the company’s market assumptions, as well as its progress throughout 2022, the company expects to see a significant enhancement in its financial results in 2023.