Vallourec: EBITDA up 67% in 2023
During the year, the seamless tube manufacturer posted sales of 5.11 billion euros, up 5% (+6% at constant exchange rates), a volume effect of -14% having been more than offset by a price/mix effect of +18%.
For 2024, Vallourec forecasts strong EBITDA, positive overall cash generation and a further reduction in net debt, which has been halved over the past year to €570 million.
'We are on track to achieve zero net debt by the end of 2025 at the latest. As a result of our debt reduction, we are aiming for a significant return to shareholders, potentially as early as 2025', says CEO Philippe Guillemot.
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