Vallourec Q2 Results Down; Guides Q3; Expects FY25 EBITDA To Benefit From H2

(RTTNews) - Vallourec S.A. (VK.PA) on Friday reported lower net income in the second quarter of 2025, impacted by lesser sales volumes. The company also provided outlook for the third quarter and said that it expects annual EBITDA to benefit from the improved performance in the second half of the year.

The French manufacturer of steel tubes posted second-quarter net income group share of 40 million euros, or 0.16 euro per share, down from 111 million euros, or 0.46 euro per share, in the same period last year.

During the three-month period, pre-tax income declined to 97 million euros from 156 million euros in the year-ago quarter. Operating income for the period, however, rose to 103 million euros from 100 million euros in the second quarter of 2024.

Vallourec's revenues came in at 863 million euros during the second quarter, down 20 percent from last year's 1.09 billion euros. The revenues were mainly affected by a large volume of high-value products invoiced in the second quarter of 2024, which did not happen in this year's quarter.

In the second quarter, EBITDA amounted to 187 million euros, down from 215 million euros recorded in the prior-year period. The decline was mainly due to lower volumes and lower average selling prices in Tubes.

Looking ahead, for the third quarter, the company expects Group EBITDA between 195 million euros and 225 million euros. For fiscal 2025, Vallourec said that the Group EBITDA will benefit from a second-half improvement as in the Tubes segment, international volumes are expected to increase in the second half, compared to the first half of the year. EBITDA per tonne will improve in the second half, mainly due to higher invoiced international prices and cost reductions.