France-based pipe manufacturer Vallourec has announced its financial results for the fourth quarter and the full year of 2024.
In the fourth quarter last year, Vallourec’s sales revenues decreased by 16.5 percent year on year to €1.06 billion, while it reported EBITDA of €214 million, compared to €280 million in the fourth quarter of 2023. In 2024, the company’s sales revenues totaled €4.03 billion, down by 21.1 percent year on year, while its EBITDA was €832 million, compared to €1.19 billion in 2023.
In the fourth quarter, the company’s tubes sales volume fell by 5.2 percent to 362,000 mt, while in the full year its tubes sales volume totaled 1.29 million mt, down by 16.4 percent year on year. This year-on-year decrease in shipments was largely attributable to the closure of Vallourec’s German rolling mills and the decreased volume sold in North America.
Vallourec’s chairman and CEO Philippe Guillemot stated that the steady improvement in US pricing over the past several months will begin to manifest in their first quarter results. Guillemot said he expects the recent changes in US trade policy to support a further upside in the US market.