BRIEF-Vallourec Continues To Implement Strategic Plan With Arrival Of New Reference Shareholder ArcelorMittal

Reuters2024-03-13

March 12 (Reuters) - Vallourec :

* CONTINUES TO IMPLEMENT ITS STRATEGIC PLAN WITH THE ARRIVAL OF ARCELORMITTAL, NEW REFERENCE SHAREHOLDER

* VALLOUREC FURTHER REITERATES ITS OUTLOOK GIVEN IN ITS Q4 AND FULL YEAR 2023 RESULTS PRESS RELEASE

* : COMPLETION OF ACQUISITION IS EXPECTED TO CLOSE IN SECOND HALF OF YEAR, AFTER OBTAINING RELEVANT REGULATORY APPROVALS

* VALLOUREC REMAINS ON TRACK TO REACH ZERO NET DEBT BY END OF 2025 AT LATEST

* EXPECTS THAT GROUP EBITDA IN FIRST HALF OF 2024 WILL BE BROADLY SIMILAR TO SECOND HALF 2023 EBITDA

* FOR FULL YEAR, VALLOUREC ANTICIPATES STRONG EBITDA GENERATION DUE TO ROBUST TUBES PRICING IN BACKLOG AND OPERATIONAL IMPROVEMENT

Source text for Eikon: Further company coverage:

((Reuters.Briefs@thomsonreuters.com;))

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