{"id":2884,"date":"2025-05-22T14:26:53","date_gmt":"2025-05-22T14:26:53","guid":{"rendered":"https:\/\/china.vallourec.com\/?post_type=news&#038;p=2884"},"modified":"2025-05-22T14:37:40","modified_gmt":"2025-05-22T14:37:40","slug":"first-quarter-2025-results","status":"publish","type":"news","link":"https:\/\/china.vallourec.com\/en\/news\/first-quarter-2025-results\/","title":{"rendered":"First Quarter 2025 Results"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"2884\" class=\"elementor elementor-2884\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-5aa6365 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"5aa6365\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-bef2050\" data-id=\"bef2050\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-b096426 elementor-widget elementor-widget-text-editor\" data-id=\"b096426\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>\u00a0<\/p><p>Vallourec announced its results for the first quarter 2025. The Board of Directors of Vallourec SA, meeting on May 14th 2025, approved the Group&#8217;s first quarter 2025 Consolidated Financial Statements.<\/p><p>\u2022 Q1 Group EBITDA of \u20ac207 million, with strong 21% EBITDA margin <br \/>\u2022 Total cash generation of \u20ac104 million, bringing net cash position to \u20ac112 million <br \/>\u2022 Continued strong international booking momentum at healthy prices <br \/>\u2022 US market prices increased further in Q1 2025 <br \/>\u2022 Q2 2025 Group EBITDA expected to range between \u20ac170 million and \u20ac200 million <br \/>\u2022 Confirm expected improvement in EBITDA in H2 2025 vs. H1 2025<br \/><br \/><\/p><p><strong>HIGHLIGHTS <\/strong><br \/><strong>First Quarter 2025 Results<\/strong> <br \/>\u2022 Group EBITDA of \u20ac207 million, down (3%) sequentially; EBITDA margin improved to 21%<br \/>\u00a0 \u00a0 \u00a0 &#8211; Tubes EBITDA per tonne of \u20ac528 increased 3% sequentially, driven by strong profitability in Eastern Hemisphere <br \/>\u00a0 \u00a0 \u00a0 &#8211; Mine &amp; Forest EBITDA of \u20ac53 million up 33% sequentially due to higher volume sold and lower cost per tonne <br \/>\u2022 Adjusted free cash flow of \u20ac168 million; total cash generation of \u20ac104 million <br \/>\u2022 Net cash position of \u20ac112 million, improving \u20ac91 million sequentially <br \/>Second Quarter 2025 Group EBITDA is expected to range between \u20ac170 million and \u20ac200 million: <br \/>\u2022 In Tubes, EBITDA per tonne is expected to be flat to slightly higher sequentially, while volumes are anticipated to be flat to slightly down sequentially. <br \/>\u2022 In Mine &amp; Forest, production sold is expected to be around 1.5 million tonnes. Profitability will be determined by prevailing iron ore market prices.<br \/><br \/><strong>Full Year 2025 Group EBITDA is expected to reflect a second half improvement:<\/strong> <br \/>\u2022 In Tubes, international shipments are expected to increase in H2 2025 compared to H1 2025 due to strong bookings over recent quarters. EBITDA per tonne should improve in H2 2025 compared to H1 2025 especially due to higher invoiced international prices and cost savings. <br \/>\u2022 In Mine &amp; Forest, production sold is expected to be around 6 million tonnes. Profitability will be determined by prevailing iron ore market prices. <br \/><br \/><br \/>Philippe Guillemot, Chairman of the Board of Directors and Chief Executive Officer, declared: \u201c<em>We are pleased with our first quarter 2025 results, which landed at the high end of our expected range. Once again, our premium positioning has enabled us to generate solid profitability, not only in our Tubes segment, but also for our mine in Brazil, where the benefits of the Phase 1 extension project are apparent. We also generated strong cash flow, marking the tenth straight quarter of positive cash generation \u2013 clear evidence of the cash flow potential of the New Vallourec <\/em><em>Financial market sentiment on the Oil &amp; Gas sector has soured in recent weeks due to dual concerns about rising oil output by OPEC+ members and fears of a slowdown in oil demand. Notwithstanding this, our key international customers are progressing their long-term plans. As a result, our first quarter bookings continued the strong trend we observed in the fourth quarter, and we see a robust pipeline of opportunities ahead of us. This sales performance underpins our continued expectations of a second-half improvement in profitability. Meanwhile, US market prices have shown a continued upward trend, but they do not yet reflect the full impact of recently-announced tariffs due to ongoing market uncertainty.<br \/><br \/><\/em><em>As a result of the substantial changes we have made within Vallourec over the past three years, we are well positioned for any market environment. We have focused our offering on differentiated, premium products and we have strong positions with global national oil companies, international oil companies, and resilient independent US producers. We have centralized production in cost-efficient hubs close to our key customers. We can serve all of our onshore US customers\u2019 needs from our integrated operations in the US, putting us in an ideal position to navigate today\u2019s trade environment. <br \/><br \/>Our strong balance sheet has recently been endorsed by positive ratings actions across all three ratings agencies, including an upgrade to an Investment Grade rating by Fitch. This, and our proven ability to generate significant cash flow, will allow us to manage the business optimally in any market condition.<\/em>\u201d<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"","protected":false},"author":1,"featured_media":1908,"template":"","meta":{"_acf_changed":false},"categories":[],"tags":[],"class_list":["post-2884","news","type-news","status-publish","has-post-thumbnail","hentry"],"acf":[],"yoast_head":"<title>First Quarter 2025 Results - China<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/china.vallourec.com\/en\/news\/first-quarter-2025-results\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"First Quarter 2025 Results - 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