France-based pipe manufacturer Vallourec has announced that it expects its results for the second quarter this year to exceed prior expectations.
The company anticipates its EBITDA to be around €370 million in the second quarter and in a range between €950 million and €1.1 billion in the full year of 2023.
“We see significant opportunities to optimize our profitability in 2024. We expect second half 2023 EBITDA will be lower than the first half of 2023 due to lower US Tubes profitability and larger losses in Germany due to the ongoing wind-down of these operations,” Philippe Guillemot, CEO of Vallourec, said.