Core Viewpoint - Vallourec has completed the disposal of its subsidiary Serimax for an enterprise value of €79 million, as part of its strategy to focus on its core business of premium seamless tubular solutions [2][3]. Group 1: Transaction Details - The disposal of Serimax was finalized on July 24, 2025, with an enterprise value of €79 million [2]. - Serimax generated approximately €105 million in revenues in 2024 and has transformed into a profitable standalone company [3]. Group 2: Strategic Focus - This transaction is part of Vallourec's initiatives to rationalize its invested capital and concentrate on its core business [3]. - The New Vallourec plan aims to enhance the company's focus on premium seamless tubular solutions [3]. Group 3: New Shareholder - Aldebaran, a French investment company, will become the new shareholder of Serimax, supporting its ambitious development [4].

Core Insights - Vallourec reported its second quarter 2025 results, showcasing resilience in its business model despite challenges in shipments and market conditions [1][4]. Financial Performance - Group EBITDA for Q2 2025 was €187 million, reflecting a 10% sequential decline but slightly above guidance midpoint, with a strong EBITDA margin of 22% [6][10]. - Tubes EBITDA margin improved by 76 basis points sequentially to 19%, although Tubes EBITDA declined by 13% due to lower volumes [6][10]. - Mine & Forest EBITDA decreased by 15% sequentially, impacted by lower market prices and higher costs, yet maintained a strong margin of 52% [6][10]. - Total cash generation amounted to €57 million, with adjusted free cash flow at €88 million [6][10]. Shareholder Returns - The company returned €370 million to shareholders through dividends of €1.50 per share and the repurchase of 1.2 million shares in Q2 2025 [4][6]. Operational Developments - The Brazil Performance Program is ahead of schedule, with significant operational simplifications completed, including the closure of a legacy Plug mill [5][7]. - Cost savings initiatives exceeded the target of €150 per tonne, enhancing operational efficiency [7]. Market Outlook - Q3 2025 Group EBITDA is projected to range between €195 million and €225 million, with expectations for improved performance in the second half of 2025 compared to the first half [4][6]. - The international OCTG market remains resilient, with recent contract awards indicating strong demand for Vallourec's premium products [8][9]. - In the US, market prices improved due to steel tariffs, and while oil drilling activity has decreased, gas drilling has rebounded, supporting demand for Vallourec's products [9].

RENEWAL OF THE TERM OF THE CHAIRMAN AND CHIEF EXECUTIVE OFFICER OF VALLOUREC Meudon (France), on July 24th, 2025 – The Board of Directors of Vallourec unanimously decided today on the recommendation of the Nomination and Governance Committee, to propose the renewal of Mr. Philippe Guillemot’s term of office as Chairman of the Board and Chief Executive Officer of Vallourec. His term of office, which will expire at the end of the General Meeting to be held in 2026, will be renewed for a period of four years, ...

Core Points - Vallourec has signed an exclusive sale agreement with VINCI Immobilier for the Déville-lès-Rouen site, marking a significant milestone in the selling process [1][6] - The sale follows a major decontamination and rehabilitation process initiated by Vallourec since 2023, fulfilling commitments to local officials [2] - VINCI Immobilier's project aims to transform the site into a business hub, creating 300 jobs and providing spaces for local businesses [4] Company Overview - Vallourec is a leader in premium seamless tubular solutions, serving energy markets and demanding industrial applications, with nearly 13,000 employees across more than 20 countries [7] - VINCI Immobilier, a subsidiary of the VINCI Group, operates in property development, managed residences, and real estate services, focusing on urban planning and sustainable development [9][10]

Core Viewpoint - Vallourec is set to release its Second Quarter and First Half 2025 results on July 25, 2025, at 07:30 AM CET, followed by a conference call at 09:30 AM CET led by the CEO and CFO [2][3]. Company Overview - Vallourec is a global leader in premium tubular solutions for energy markets and demanding industrial applications, including oil & gas wells, new generation power plants, and high-performance mechanical equipment [3]. - The company employs nearly 13,000 people across more than 20 countries, focusing on delivering innovative and competitive tubular solutions [3]. Financial Information - Vallourec is listed on Euronext in Paris and is part of several indices, including CAC Mid 60, SBF 120, and Next 150 [4]. - The company has a sponsored Level 1 American Depositary Receipt (ADR) program in the United States, with a parity set at 5:1 between ADR and ordinary shares [4].

Core Viewpoint - Vallourec has secured two contracts to supply Oil Country Tubular Goods (OCTG) to CNOOC and PetroChina in Iraq, with potential revenue exceeding $130 million [1][2]. Group 1: Contracts and Deliveries - The contracts involve the supply of carbon steel and Super-13Cr steel OCTG products featuring VAM premium connections, with deliveries planned throughout 2025 and 2026 [2]. - These contracts are aimed at supporting the increasing drilling activities in Iraq, reflecting Vallourec's capability to meet the specific technical requirements of both operators [2]. Group 2: Market Context - Iraq is home to some of the largest oil reserves globally, with super-giant oil fields being developed by international oil and gas companies, leading to a rising demand for premium OCTG materials [3]. - The Iraqi Ministry of Oil has announced plans to increase the country's oil production capacity from 4.1 million barrels per day (bpd) in 2025 to 6 million bpd by 2029, indicating a growing market for Vallourec's products [4]. Group 3: Company Competitiveness - Vallourec's ability to supply significant quantities of premium materials in a short timeframe has been recognized by CNOOC and PetroChina, highlighting the company's competitiveness in the market [4]. - The VAM connections provided by Vallourec are increasingly praised for their robustness and ease of use, establishing them as a standard choice for operations in Iraq and the Middle East [4].

Core Insights - Vallourec has secured a significant order from Abu Dhabi National Oil Company (ADNOC) for over 30,000 tons of carbon steel tubulars and accessories featuring VAM premium connections as part of a Long-Term Agreement (LTA) [1][3] Group 1: Order Details - The order includes an integrated suite of services such as VAM Field Service and digital solutions aimed at optimizing installation and maintenance practices for ADNOC [2] - Production for this order will take place at Vallourec's industrial sites in Brazil, China, and Indonesia [3] Group 2: Strategic Alignment - This order supports ADNOC's goal of achieving a production target of 5 million barrels per day by 2027 [3] - Vallourec's commitment to providing premium products and services is highlighted by its operational excellence in the Middle East [4] Group 3: Company Overview - Vallourec is a leader in premium seamless tubular solutions for energy markets and demanding industrial applications, employing nearly 13,000 people across more than 20 countries [4] - The company is listed on Euronext in Paris and is part of several indices, including CAC Mid 60 and SBF 120 [5]

Core Viewpoint - Vallourec has successfully completed the acquisition of Thermotite do Brasil, enhancing its premium tubular solutions and technological expertise in thermal insulation coatings for pipelines [2][3][4]. Company Summary - Vallourec is a global leader in premium tubular solutions, focusing on energy markets and demanding industrial applications, including oil and gas wells and new generation power plants [5]. - The company employs nearly 13,000 people across more than 20 countries, emphasizing innovation and R&D to provide competitive and smart tubular solutions [5]. Industry Impact - The acquisition supports Vallourec's premiumization strategy, reinforcing its value proposition in offshore oil and gas projects [3][4]. - The integration of Thermotite's technology is expected to enhance Vallourec's industrial value chain in Brazil, a critical market for the offshore oil and gas sector [4].

Core Insights - Vallourec has achieved the official qualification of its Delphy hydrogen storage solution, marking a world first in the industry [1][3] - The Delphy system can store between 1 to 100 tons of hydrogen safely and is designed for complex industrial environments [1][2] - The qualification by DNV ensures the safety and reliability of the Delphy solution, paving the way for its commercialization [3][6] Company Developments - The Delphy project has involved around thirty researchers and experts, focusing on high-precision threading, heat treatment, and non-destructive testing [3] - Vallourec has signed two Memorandums of Understanding (MoUs) for green hydrogen projects, indicating strong market interest and potential revenue of approximately €2 billion from around fifty projects under discussion [4] - The company aims to leverage its industrial and technological expertise to support the global hydrogen sector and decarbonization efforts [6] Industry Context - There is an increasing demand for hydrogen storage infrastructure due to the intermittent nature of green hydrogen production, driven by European regulations and the French hydrogen strategy [5] - DNV's Energy Transition Outlook projects a need for 188 million tons of hydrogen annually by 2050, highlighting the critical role of flexible storage solutions like Delphy [6]

Core Points - Vallourec announces a share repurchase program to buy back approximately 1.2 million shares by June 20, 2025, aimed at managing future equity dilution and supporting employee long-term incentive plans [1][2] Company Overview - Vallourec is a global leader in premium seamless tubular solutions, serving energy markets and demanding industrial applications, including oil & gas wells, power plants, and high-performance mechanical equipment [3] - The company employs nearly 13,000 people across more than 20 countries, focusing on delivering innovative and competitive tubular solutions [3] Stock Information - Vallourec is listed on Euronext Paris and is part of several indices, including CAC Mid 60, SBF 120, and Next 150 [4] - The company has a sponsored Level 1 American Depositary Receipt (ADR) program in the United States, with a parity set at 5:1 between ADR and ordinary shares [4]