French pipe maker Vallourec is registering better performance in its target markets. It has therefore announced an improved 2021 outlook compared to the negative outlook published in its 2020 financial earnings report in February.
The company expects higher sales volumes and prices this year for OCTG in North America, and “a higher contribution from the iron ore mine in Brazil”, it says in a note. The firm adds that it targets Ebitda of €350-400 million ($421-481m) in 2021.
Vallourec’s 2020 revenue was strongly affected by the pandemic impact on oil demand worldwide. Last year the pipemaker recorded revenue of €3,242 million ($3,920m), down 22% compared with 2019, as well as a 30% drop in shipments (see Kallanish 18 February).
Natalia Capra France