Latest news with #PhilippeGuillemot
Yahoo
5 days ago
- Business
- Yahoo
Vallourec Completes the Acquisition of Thermotite do Brasil
VALLOUREC COMPLETES THE ACQUISITION OF THERMOTITE DO BRASIL Meudon (France), June 5, 2025 – Vallourec, a world leader in premium seamless tubular solutions, today announces the completion of the acquisition of Thermotite do Brasil from Mattr ( in accordance with the terms of the agreement announced on September 16, 2024. This operation supports Vallourec's premiumization strategy, with the integration of differentiated technological expertise in thermal insulation coatings for pipelines. With this integrated offering, Vallourec reinforces the added value provided to offshore projects in the oil and gas industry. Philippe Guillemot, Chairman of the Board of Directors and Chief Executive Officer 'This acquisition further strengthens our presence and our industrial value chain in Brazil, a key market for the offshore oil and gas industry. It will enable us to take a new step forward in our strategy to offer our customers integrated solutions with very high added value.' The transaction has received all necessary regulatory approvals and was completed within the expected timeframe. 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 13,000 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 CAC Mid 60, SBF 120 and Next 150 indices and is eligible for Deferred Settlement Service. In the United States, Vallourec has established a sponsored Level 1 American Depositary Receipt (ADR) program (ISIN code: US92023R4074, Ticker: VLOWY). Parity between ADR and a Vallourec ordinary share has been set at 5:1. For further information, please contact: Investors relations:Connor LynaghTel : +1 (713) Individual shareholders:Toll free number (From France) : 0 805 65 10 10actionnaires@ Press media Relation: Taddeo Romain GrièreTel : +33 (0)7 86 53 17 29 Nicolas EscoulanTel : +33 (0)6 42 19 14 74 Attachment Vallourec_Press Release_Completion of the Acquisition of Thermotite do Brasil
Yahoo
5 days ago
- Business
- Yahoo
Vallourec Completes the Acquisition of Thermotite do Brasil
VALLOUREC COMPLETES THE ACQUISITION OF THERMOTITE DO BRASIL Meudon (France), June 5, 2025 – Vallourec, a world leader in premium seamless tubular solutions, today announces the completion of the acquisition of Thermotite do Brasil from Mattr ( in accordance with the terms of the agreement announced on September 16, 2024. This operation supports Vallourec's premiumization strategy, with the integration of differentiated technological expertise in thermal insulation coatings for pipelines. With this integrated offering, Vallourec reinforces the added value provided to offshore projects in the oil and gas industry. Philippe Guillemot, Chairman of the Board of Directors and Chief Executive Officer 'This acquisition further strengthens our presence and our industrial value chain in Brazil, a key market for the offshore oil and gas industry. It will enable us to take a new step forward in our strategy to offer our customers integrated solutions with very high added value.' The transaction has received all necessary regulatory approvals and was completed within the expected timeframe. 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 13,000 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 CAC Mid 60, SBF 120 and Next 150 indices and is eligible for Deferred Settlement Service. In the United States, Vallourec has established a sponsored Level 1 American Depositary Receipt (ADR) program (ISIN code: US92023R4074, Ticker: VLOWY). Parity between ADR and a Vallourec ordinary share has been set at 5:1. For further information, please contact: Investors relations:Connor LynaghTel : +1 (713) Individual shareholders:Toll free number (From France) : 0 805 65 10 10actionnaires@ Press media Relation: Taddeo Romain GrièreTel : +33 (0)7 86 53 17 29 Nicolas EscoulanTel : +33 (0)6 42 19 14 74 Attachment Vallourec_Press Release_Completion of the Acquisition of Thermotite do BrasilSign in to access your portfolio
Yahoo
5 days ago
- Business
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VALLOUREC OBTAINS THE QUALIFICATION OF ITS HYDROGEN STORAGE SOLUTION AND LAUNCHES COMMERCIALIZATION
Press Release VALLOUREC OBTAINS THE QUALIFICATION OF ITS HYDROGEN STORAGE SOLUTION AND LAUNCHES COMMERCIALIZATION Meudon (France), June 5, 2025 – Vallourec, a world leader in premium seamless tubular solutions, announces the official qualification of Delphy, its vertical gaseous hydrogen storage solution, by DNV. A world first, Delphy enables the storage of 1 to 100 tons of hydrogen under maximum safety conditions. Thanks to its minimal footprint, this vertical system - extending up to 100 meters underground - meets the challenge of complex and demanding industrial environments. It targets both green hydrogen producers and industrial players such as synthetic fuel producers (e-SAF, e-methanol), green ammonia producers, steelmakers, and refineries. The Delphy solution is the result of Vallourec's longstanding expertise and know-how and is based on proven technologies - tubes and connections - that have demonstrated excellent tightness and corrosion resistance. Launched in 2022, the project has involved around thirty researchers and experts, particularly in the areas of high-precision threading, heat treatment, and non-destructive testing. Since the inauguration of its demonstrator in December 2023, Vallourec has followed a rigorous process of development, testing, and validation of its hydrogen storage technology, culminating today in the qualification of Delphy. This qualification by recognized experts guarantees the solution's safety and reliability and marks a key milestone towards its commercialization. Vallourec has already signed two Memorandums of Understanding (MoUs): one with H2V, for green hydrogen production and utilization projects, and one with NextChem Tech, for green hydrogen and green ammonia projects. Around fifty projects - in France and internationally - are currently under discussion, representing potential revenue of approximately €2 billion. This qualification comes at a time when demand for storage infrastructure is expected to grow, to adapt to the intermittent and flexible nature of green hydrogen production. Demand for the Delphy storage solution will be fuelled by European regulations, which require storage solutions to pair with renewable electricity production, and by the French hydrogen strategy, which encourages green hydrogen producers to operate flexibly to contribute to power grid stability. Philippe Guillemot, Chairman of the Board of Directors and CEO of the Vallourec Group, commented: "The qualification of Delphy illustrates Vallourec's ability to leverage its industrial and technological expertise for new energy solutions. Thanks to the excellence of our teams, we are able to offer this unique solution that meets the challenges of developing the global hydrogen sector. This key milestone reinforces our position in the hydrogen market and our leadership in supporting global decarbonization efforts." Santiago Blanco, Executive Vice President & Director for Southern Europe, Energy Systems at DNV commented "DNV is proud to validate Vallourec's Delphy hydrogen storage solution—a milestone in safe, scalable hydrogen infrastructure. With our Energy Transition Outlook model projecting a need for 188 million tons of hydrogen annually by 2050, flexible storage like Delphy is critical to bridge renewable supply and industrial demand. As hydrogen unlocks decarbonization for hard-to-electrify sectors, independent technical assurance will be key to accelerating deployment and building market confidence." About Vallourec Vallourec is a world leader in premium seamless 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 13,000 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 CAC Mid 60, SBF 120 and Next 150 indices and is eligible for Deferred Settlement the United States, Vallourec has established a sponsored Level 1 American Depositary Receipt (ADR) program (ISIN code: US92023R4074, Ticker: VLOWY). Parity between ADR and a Vallourec ordinary share has been set at 5:1. About DNV DNV is the independent expert in risk management and assurance, operating in more than 100 countries. Through its broad experience and deep expertise DNV advances safety and sustainable performance, sets industry benchmarks, and inspires and invents solutions. Whether assessing a new ship design, optimizing the performance of a wind farm, analyzing sensor data from a gas pipeline, or certifying a food company's supply chain, DNV enables its customers and their stakeholders to make critical decisions with confidence. Driven by its purpose, to safeguard life, property, and the environment, DNV helps tackle the challenges and global transformations facing its customers and the world today and is a trusted voice for many of the world's most successful and forward-thinking companies. Learn more at For further information, please contact: Investor relations:Connor LynaghTel : +1 (713) Individual shareholders:Toll Free number (From France): 0 805 65 10 10actionnaires@ Press relations: Taddeo Romain GrièreTel : +33 (0)7 86 53 17 29 Nicolas EscoulanTel : +33 (0)6 42 19 14 74 Attachment Vallourec_Press Release_Delphy Qualification
Yahoo
22-05-2025
- Business
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The Vallourec General Shareholders' Meeting of 22 May 2025 Voted in Favor of All the Resolutions and Approved the First Dividend in a Decade
Press release THE VALLOUREC GENERAL SHAREHOLDERS' MEETING OF 22 MAY 2025 VOTED IN FAVOR OF ALL THE RESOLUTIONSAND APPROVED THE FIRST DIVIDEND IN A DECADE Meudon (France), May 22, 2025 – Vallourec, a world leader in premium seamless tubular solutions, announces that the Combined General Meeting of Shareholders, held today, chaired by Mr Philippe Guillemot with a quorum of 74.75 %, adopted all the resolutions put to the vote. The General Meeting of Shareholders approved the parent company and consolidated financial statements for the 2024 fiscal year and the payment of a dividend of 1.50€ per share in respect of 2024. The ex-dividend date will be May 26, 2025 and the dividend will be paid on May 28, 2025. In accordance with the by-laws and the applicable free shares plan, the thresholds for the assessment of the performance condition for the vesting of the Tranche 3 and Tranche 4 preferred shares will automatically adjusted of the amount of the dividend, on a euro for euro basis1. Moreover, pursuant to the provisions of section 4.2.8.4. of the note d'opération (AMF visa n°21-093 of March 31, 2021), the exercise ratio (Parité d'Exercice) of the warrants (ISIN Code: FR00140030K7) will also be adjusted. The modalities of such adjustment will be communicated in the coming days. The General Meeting of Shareholders ratified the co-optation of Mr Keith James Howell as Director and renewed his term for four (4) years, i.e. until the end of the Ordinary Shareholders' Meeting called to approve the financial statements for the fiscal year ending December 31, 2028. The General Meeting of Shareholders approved the compensation and benefits paid during or awarded for the year ended 31 December 2024 to the Company's directors and officers and the compensation policy applicable to the directors and officers for 2025. Also, the General Meeting of Shareholders approved the amendment of the Articles of Association to reflect the provisions of the Law n° 2024-537 of June 13, 2024 aimed at increasing the financing of businesses and the attractiveness of France and to specify the powers of the Lead Independent Director. A webcast of the General Shareholders' Meeting of 22 May 2025 and the voting results for each resolution are available on Vallourec's website: About Vallourec Vallourec is a world leader in premium seamless 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 13,000 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 CAC Mid 60, SBF 120 and Next 150 indices and is eligible for Deferred Settlement Service. In the United States, Vallourec has established a sponsored Level 1 American Depositary Receipt (ADR) program (ISIN code: US92023R4074, Ticker: VLOWY). Parity between ADR and a Vallourec ordinary share has been set at 5:1. For further information, please contact: Investor relations:Connor LynaghTel: +1 (713) Individual shareholders:Toll Free number (From France): 0 805 65 10 10actionnaires@ Press relations: TaddeoRomain GrièreTel: +33 (0)7 86 53 17 Nicolas EscoulanTel: +33 (0)6 42 19 14 1 It is reminded that the performance condition of the Tranche 2 preferred shares was already met. For the purposes of the assessment of the performance conditions of the Tranche 3 and Tranche 4 preferred shares, the thresholds will be set respectively at €18.72 and €26.82 respectively (corresponding to the €20.22 and €28.32 thresholds before dividend distribution). Attachment Vallourec_Press Release_Annual General Meeting 2025Sign in to access your portfolio
Yahoo
15-05-2025
- Business
- Yahoo
Vallourec First Quarter 2025 Results
Meudon (France), May 15th, 2025 Vallourec, a world leader in premium tubular solutions, announces today its results for the first quarter 2025. The Board of Directors of Vallourec SA, meeting on May 14th 2025, approved the Group's first quarter 2025 Consolidated Financial Statements. First Quarter 2025 Results Q1 Group EBITDA of €207 million, with strong 21% EBITDA margin Total cash generation of €104 million, bringing net cash position to €112 million Continued strong international booking momentum at healthy prices US market prices increased further in Q1 2025 Q2 2025 Group EBITDA expected to range between €170 million and €200 million Confirm expected improvement in EBITDA in H2 2025 vs. H1 2025 HIGHLIGHTS First Quarter 2025 Results Group EBITDA of €207 million, down (3%) sequentially; EBITDA margin improved to 21% Tubes EBITDA per tonne of €528 increased 3% sequentially, driven by strong profitability in Eastern Hemisphere Mine & Forest EBITDA of €53 million up 33% sequentially due to higher volume sold and lower cost per tonne Adjusted free cash flow of €168 million; total cash generation of €104 million Net cash position of €112 million, improving €91 million sequentially Second Quarter 2025 Group EBITDA is expected to range between €170 million and €200 million: 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. In Mine & Forest, production sold is expected to be around 1.5 million tonnes. Profitability will be determined by prevailing iron ore market prices. Full Year 2025 Group EBITDA is expected to reflect a second half improvement: 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. In Mine & Forest, production sold is expected to be around 6 million tonnes. Profitability will be determined by prevailing iron ore market prices. Philippe Guillemot, Chairman of the Board of Directors and Chief Executive Officer, declared: '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 – clear evidence of the cash flow potential of the New Vallourec. 'Financial market sentiment on the Oil & 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. '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' needs from our integrated operations in the US, putting us in an ideal position to navigate today's trade environment. '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.' Key Quarterly Data in € million, unless noted Q1 2025 Q4 2024 Q1 2024 QoQ chg. YoY chg. Tubes volume sold (k tonnes) 314 362 292 (49) 21 Iron ore volume sold (m tonnes) 1.6 1.3 1.4 0.26 0.2 Group revenues 991 1,065 990 (74) 1 Group EBITDA 207 214 235 (7) (28) (as a % of revenue) 20.9% 20.1% 23.7% 0.8 pp (2.8) pp Operating income (loss) 148 229 174 (82) (26) Net income, Group share 86 163 105 (77) (19) Adj. free cash flow 168 178 171 (10) (3) Total cash generation 104 253 101 (149) 3 Net debt (cash) (112) (21) 485 (91) (597) The consolidated financial statements are included in the PDF version of the press release. Information and Forward-Looking Statements This press release includes forward-looking statements. These forward-looking statements can be identified by the use of forward-looking terminology, including the terms as 'believe', 'expect', 'anticipate', 'may', 'assume', 'plan', 'intend', 'will', 'should', 'estimate', 'risk' and or, in each case, their negative, or other variations or comparable terminology. These forward-looking statements include all matters that are not historical facts and include statements regarding the Company's intentions, beliefs or current expectations concerning, among other things, Vallourec's results of operations, financial condition, liquidity, prospects, growth, strategies and the industries in which they operate. Readers are cautioned that forward-looking statements are not guarantees of future performance and that Vallourec's or any of its affiliates' actual results of operations, financial condition and liquidity, and the development of the industries in which they operate may differ materially from those made in or suggested by the forward-looking statements contained in this presentation. In addition, even if Vallourec's or any of its affiliates' results of operations, financial condition and liquidity, and the development of the industries in which they operate are consistent with the forward-looking statements contained in this presentation, those results or developments may not be indicative of results or developments in subsequent periods. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. These risks include those developed or identified in the public documents filed by Vallourec with the French Financial Markets Authority (Autorité des marches financiers, or 'AMF'), including those listed in the 'Risk Factors' section of the Universal Registration Document filed with the AMF on March 27, 2025, under filing number n° D. 25-0192. Accordingly, readers of this document are cautioned against relying on these forward-looking statements. These forward-looking statements are made as of the date of this document. Vallourec disclaims any intention or obligation to complete, update or revise these forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable laws and regulations. This press release does not constitute any offer to purchase or exchange, nor any solicitation of an offer to sell or exchange securities of Vallourec. or further information, please refer to the website Future dividends and share buyback authorizations will be assessed on a yearly basis by the Board of Directors taking into account any relevant factor in the future, and will be subject to Shareholders' approval. The Board of Directors will have discretion to employ share buybacks throughout the year, up to the limits authorized by the relevant resolution approved by the Annual General Meeting. Presentation of Q1 2025 Results Conference call / audio webcast on May 15th at 9:30 am CET To listen to the audio webcast: To participate in the conference call, please dial (password: 'Vallourec'): +44 (0) 33 0551 0200 (UK) +33 (0) 1 7037 7166 (France) +1 786 697 3501 (USA) Audio webcast replay and slides will be available at: 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 13,000 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 CAC Mid 60, SBF 120 and Next 150 indices and is eligible for Deferred Settlement Service. In the United States, Vallourec has established a sponsored Level 1 American Depositary Receipt (ADR) program (ISIN code: US92023R4074, Ticker: VLOWY). Parity between ADR and a Vallourec ordinary share has been set at 5:1. Attachment Vallourec Q1 2025 Results Press ReleaseSign in to access your portfolio
