Vallourec, the world leader in premium piping sector solutions serving mainly the energy markets, announced its position in the first quarter of 2023. EBITDA reached EUR 320 million, driven by high profitability in the pipe sector and developments in the mining and forestry sectors. Net debt decreased by EUR 130 million to EUR 1 billion. Revenue, meanwhile, totalled around EUR 1.34 billion, an increase of 46% on the previous year.
Vallourec noted that demand from customers was strong, particularly Middle East national oil companies and other Eastern Hemisphere customers.
The company also said that 2023 was a turning point for Vallourec and that it is seeking to expand the business in Brazil, which will allow Vallourec to increase its South American pipes operation.
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