France-based pipe producer Vallourec has announced its financial results for the first quarter of 2026. The company’s revenues in the given period decreased by seven percent year on year to $975 million, while its EBITDA remained almost stable year on year at $220 million. The company’s EBITDA margin rose from 20.7 percent in the same period last year to 22.6 percent.
France-based pipe producer Vallourec has announced its financial results for the first quarter of 2026. The company’s revenues in the given period decreased by seven percent year on year to $975 million, while its EBITDA remained almost stable year on year at $220 million. The company’s EBITDA margin rose from 20.7 percent in the same period last year to 22.6 percent.
In the given quarter, Vallourec’s tube sales volume decreased by 13 percent year on year to 272,000 mt, while its iron ore sales volume fell by 15 percent year on year to 1.3 million mt. The company’s operating income increased from $154 million in the same period last year to $156 million, while net income, Group share, declined from $89 million to $87 million.
Vallourec’s tube segment revenues in the first quarter decreased by seven percent year on year to $897 million. The 13 percent decline in sales volume in the segment was partially offset by an eight percent increase in the average selling price, supported by improved price/mix across all regions. EBITDA in the tube segment increased by 14 percent year on year to $196 million, while EBITDA per tonne rose by 31 percent year on year to $724/mt.
In the company’s Mine & Forest segment, iron ore sales volume declined by 15 percent year on year to 1.3 million mt due to record rainfall in the Minas Gerais region during the quarter. Segment revenues increased by one percent year on year to $95 million, while EBITDA decreased by 32 percent year on year to $38 million due to lower volumes and negative foreign exchange effects.
The company expects its Group EBITDA in the second quarter to be in the range of $175-205 million. According to Vallourec, volumes and EBITDA per tonne in the tube segment are expected to decline quarter on quarter due to a longer period of disruption in the Middle East compared to the first quarter. For the full year of 2026, the company expects strong sales volumes in its North America tube segment to continue, US market prices to increase on improving supply-demand conditions, and a recovery in international markets in the second half to pave the way for higher volumes.