INCREASED 2021 OUTLOOK
Boulogne-Billancourt (France), July 21st, 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 €475 to €525 million EBITDA and a (€240) to (€160) million free cash flow.
The largest driver of this upgrade is a higher contribution from the iron ore mine in Brazil due to more favorable than expected iron ore prices. In addition, Vallourec is generating better internal efficiencies, while the progressive recovery of the OCTG market in North America and Industry markets is being confirmed.
Q2 and H1 results will be released on 28th July 2021.