France-based pipe manufacturer Vallourec has announced its financial results for the second quarter and first half of this year.
In the second quarter, the company’s sales revenues decreased by 20.5 year on year to €863 million, while its EBITDA dropped to €187 million, compared to €215 million in the second quarter last year, driven by lower volumes and lower average selling prices in the tube segment. Vallourec recorded €40 million of net profit in the given period, down by 63.0 percent year on year.
In the April-June period, Vallourec’s pipe sales volume decreased by 16.5 percent to 293,000 mt on a higher base effect from the second quarter of 2024, while its iron ore sales volumes totaled 1.6 million mt, up by 14.2 percent, both on year-on-year basis.
Regarding the first half of the year, Vallourec’s sales revenue amounted to €1.85 billion, down 10.6 percent year on year, while its EBITDA and net profit amounted to €394 million and €139 million respectively, down 12.4 percent and 37.9 percent.
In the given period, Vallourec’s pipe and iron ore sales volumes totaled 606,000 mt, down six percent and 3.2 million mt, up 14 percent respectively.
Vallourec expects its EBITDA to range between €195-225 million in the next quarter, while sales volumes are projected to remain stable year on year. According to the producer’s estimates, EBITDA in the second half of the year is supposed to improve on higher international prices and cost reductions.