Press Release
INCREASED 2021 OUTLOOK
Boulogne-Billancourt
(France), April
30th,
2021 – Vallourec announces today to increase its
2021 outlook.
After completing the periodic business outlook
review of the various activities of the Group, Vallourec now
targets for 2021 a €350 to €400 million EBITDA and a (€340) to
(€260) million free cash flow.
This stems from better perspectives on some of
the markets where the Group operates, with in particular higher
expected volumes and sales prices for OCTG in North America, and a
higher contribution from the iron ore mine in Brazil.
The new free cash flow objective includes a ca.
€65 million additional cash outflow, resulting from the exercise of
the repurchase option for the debt of the lease contract (DBOT) in
Brazil. The capex envelope of ca. €160 million is unchanged.
Q1 results will be released on 20th May
2021.
About
Vallourec
Vallourec is a world leader in premium tubular
solutions for the energy markets and for demanding industrial
applications such as oil & gas wells in harsh environments, new
generation power plants, challenging architectural projects, and
high-performance mechanical equipment. Vallourec's pioneering
spirit and cutting edge R&D open new technological frontiers.
With close to 17,000 dedicated and passionate employees in more
than 20 countries, Vallourec works hand-in-hand with its customers
to offer more than just tubes: Vallourec delivers innovative, safe,
competitive and smart tubular solutions, to make every project
possible.
Listed on Euronext in Paris (ISIN code:
FR0013506730, Ticker VK), Vallourec is part of the SBF 120 index
and is eligible for Deferred Settlement Service Long Only.
In the United States, Vallourec has established
a sponsored Level 1 American Depositary Receipt (ADR) program (ISIN
code: US92023R2094, Ticker: VLOWY). Parity between ADR and a
Vallourec ordinary share has been set at 5:1.
Calendar
May 20th 2021:
Release of first quarter results
For further information, please
contact:
Investor
relations Jérôme FribouletTel: +33 (0)1 49 09 39
77Investor.relations@vallourec.com |
Press
relations Héloïse RothenbühlerTel: +33 (0)1 41 03 77
50 heloise.rothenbuhler@vallourec.com |
Individual
shareholdersToll Free Number (from France): 0 805 65 10 10
actionnaires@vallourec.com |
|
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