Vallourec increases EBITDA expectations for the 2nd quarter

French pipe manufacturer Vallourec raised its outlook for the second quarter of this year, expecting earnings before interest, taxes, depreciation and amortisation (EBITDA) to amount to around EUR 370 million, up from EUR 320 million previously announced. The adjustment was due to strong results in the Eastern Hemisphere, particularly in the Middle East, and smaller-than-expected losses in Germany.

The company also expects EBITDA for the full year 2023 to be between EUR 950 million and EUR 1.1 billion, up from EUR 750 million for 2022.