Vallourec Fourth Quarter and Full Year 2023 Results
VALLOUREC SA SP/ADR (VLOWY)
NASDAQ:AMEX Investor Relations:
vallourec.com/en/group/finance/investor_relations/pages/default.aspx
Company Research
Source: GlobeNewswire
Meudon (France), March 1st, 2024 Vallourec, a world leader in premium tubular solutions, announces today its results for the fourth quarter and full year 2023. The Board of Directors of Vallourec SA, meeting on February 29th 2024, approved the Group's fourth quarter and full year 2023 Consolidated Financial Statements. Fourth Quarter and Full Year 2023 Results Strong full year 2023 EBITDA of €1,196m, above upper end of guidance rangeSequential EBITDA improvement in Q4 due to strong executionInternational Tubes demand and pricing continue to increaseUS OCTG demand has stabilized, Vallourec shipments increasingNet debt halved YoY to €570m; expected to decline further in H1 and Full Year 2024 starting in Q1 2024a HIGHLIGHTS Strong Q4 and FY 2023 profitability and continued deleveraging: Q4 EBITDA of €280 million (up €58 million sequentially and down €32 million YoY) driven by solid Tubes profitability Tubes EBITDA of €249 million (up €56 million sequentially and down €
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