Vallourec reports EPS of 2.07 euros for 2023, compared with -1.60 euro the previous year, as well as EBITDA up 67% to nearly 1.2 billion euros, above the upper limit of its previously communicated range.

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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