Core Points - Vallourec's General Shareholders' Meeting on May 22, 2025, approved all resolutions, marking the first dividend payment in a decade [1] - The approved dividend for the fiscal year 2024 is €1.50 per share, with an ex-dividend date of May 26, 2025, and payment scheduled for May 28, 2025 [2] - The meeting ratified the co-optation of Mr. Keith James Howell as Director for a four-year term [3] - Compensation and benefits for the Company's directors and officers for the year ended December 31, 2024, were approved, along with the compensation policy for 2025 [4] - Amendments to the Articles of Association were approved to align with Law n° 2024-537, enhancing business financing and specifying the powers of the Lead Independent Director [5] Company Overview - Vallourec is a global leader in premium seamless tubular solutions, serving energy markets and demanding industrial applications [6] - The company employs nearly 13,000 people across more than 20 countries, focusing on innovative and competitive tubular solutions [6] - Vallourec is listed on Euronext Paris and is part of several indices, including CAC Mid 60 and SBF 120 [7]

Core Insights - Vallourec's employee share offering "Vallourec Invest 2025" has been successful, with participation from employees in multiple countries, reflecting the company's commitment to employee involvement in value creation [2][3][4] Group 1: Employee Share Offering - The program attracted 5,142 participants, nearly half of the eligible employees, indicating strong interest [3] - Participants received a 20% discount and a matching contribution as part of the offering [3] - The initiative resulted in the creation of 218,601 new shares, representing 0.09% of Vallourec's capital, increasing the total number of shares to 238,358,136 as of April 10, 2025 [4] Group 2: Company Overview - Vallourec is a leader in premium seamless tubular solutions, serving energy markets and demanding industrial applications [5] - The company employs close to 13,000 people across more than 20 countries, focusing on innovative and competitive tubular solutions [5] - Vallourec is listed on Euronext in Paris and is part of several indices, including CAC Mid 60 and SBF 120 [6]

Core Insights - Vallourec reported strong first quarter 2025 results, achieving a Group EBITDA of €207 million with a 21% EBITDA margin, despite a 3% sequential decline [5][8] - The company anticipates a second quarter 2025 Group EBITDA between €170 million and €200 million, with expected improvement in the second half of 2025 compared to the first half [4][5] Financial Performance - Group revenues for Q1 2025 were €991 million, a decrease of €74 million from Q4 2024, but an increase of €1 million year-over-year [8] - Tubes volume sold was 314,000 tonnes, down from 362,000 tonnes in Q4 2024, but up 21% year-over-year [8] - Iron ore volume sold reached 1.6 million tonnes, an increase of 0.26 million tonnes sequentially and 0.2 million tonnes year-over-year [8] - Adjusted free cash flow was €168 million, with total cash generation of €104 million, improving the net cash position to €112 million, up €91 million sequentially [5][8] Market Position and Strategy - The company has focused on premium products and has established strong positions with global national oil companies and resilient independent US producers [7] - International bookings continued to show strong momentum, supporting expectations for improved profitability in the second half of 2025 [6][7] - US market prices have been on an upward trend, although they have not yet fully reflected the impact of recently announced tariffs [6] Future Outlook - The company expects Tubes EBITDA per tonne to remain flat to slightly higher sequentially, with volumes anticipated to be flat to slightly down [5] - In the Mine & Forest segment, production sold is expected to be around 1.5 million tonnes, with profitability dependent on prevailing iron ore market prices [5] - The company is well-positioned to navigate market changes due to substantial operational changes made over the past three years [7][8]

Core Points - Vallourec has secured a major contract with Kuwait Oil Company (KOC) for the supply of Oil Country Tubular Goods (OCTG), representing over $130 million in potential revenue [2][4] - The contract includes the delivery of carbon steel OCTG products with premium connections and proprietary steel grades, scheduled for delivery in 2025 and 2026 [3] - Vallourec has a historical presence in Kuwait and has been a reliable supplier to KOC, supporting the company's plans to increase oil production to 4 million barrels per day by 2035 [4][5] Company Overview - Vallourec is a world leader in premium seamless tubular solutions for energy markets and demanding industrial applications, employing nearly 13,000 employees across more than 20 countries [5] - The company focuses on innovative, safe, competitive, and smart tubular solutions, catering to various sectors including oil & gas, power plants, and architectural projects [5] - Vallourec is listed on Euronext in Paris and is part of several indices, including CAC Mid 60 and SBF 120 [6]

Vallourec: Availability of information relating to the Combined (Ordinary and Extraordinary) Shareholders’ Meeting of 22 May 2025 Meudon (France), April 18, 2025 Vallourec's Ordinary and Extraordinary Shareholders' Meeting will be held on 22 May 2025 at 2:00 p.m. at Espace Verso, 52 rue de la Victoire 75009 Paris. The prior notice of meeting published in the Bulletin des Annonces Légales Obligatoires of April 7, 2025, the notice of meeting including the agenda, draft resolutions and reports thereon ...

Core Insights - Vallourec has received positive credit rating actions from all three major agencies: Fitch Ratings, Moody's Ratings, and S&P Global, indicating a significant improvement in its business profile and financial stability [1][5]. Group 1: Credit Rating Developments - Fitch Ratings upgraded Vallourec from BB+ to BBB-, marking its first Investment Grade rating since 2015, with a stable outlook [5]. - Moody's Ratings upgraded Vallourec from Ba2 to Ba1 and maintained a positive outlook, reflecting the company's successful transformation [5]. - S&P Global affirmed Vallourec's BB+ long-term issuer credit rating and revised its outlook from neutral to positive, indicating a more robust business model [5]. Group 2: Business Transformation - Vallourec's business profile has improved due to an optimized footprint, cost reductions, and a focus on value over volume, supported by its strong position in the seamless tubes market [1]. - The company has successfully transformed its product portfolio towards higher value products and reduced its industrial fixed cost base, contributing to a more resilient financial position [1]. - The implementation of the New Vallourec plan has led to significant improvements in cost structure and cash generation, resulting in a net cash position [1]. Group 3: Strategic Objectives - Vallourec aims to achieve a crisis-proof balance sheet, which has been accomplished one year ahead of plan, demonstrating its resilience to market conditions [1]. - The company's competitive industrial footprint and robust financial position are designed to withstand various market challenges [1].

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 dedicated employees across more than 20 countries, focusing on innovative and competitive tubular solutions [3] Financial Results Announcement - Vallourec will release its First Quarter 2025 results on May 15, 2025, at 07:30 AM CET [2] - A conference call and audiocast for the results presentation will take place at 09:30 AM CET, hosted by Philippe Guillemot (Chairman and CEO) and Sascha Bibert (CFO) [2] Stock Information - Vallourec is listed on Euronext in Paris under the ISIN code FR0013506730 and ticker VK, and is part of the CAC Mid 60, SBF 120, and Next 150 indices [4] - The company has a sponsored Level 1 American Depositary Receipt (ADR) program in the United States, with a parity of 5:1 between ADR and ordinary shares [4]

Core Viewpoint - Vallourec has entered exclusive negotiations to sell its subsidiary Serimax, specializing in mechanized welding solutions, for an enterprise value of €79 million, with €7 million contingent on an earn-out [1][2]. Group 1: Transaction Details - The sale of Serimax is part of Vallourec's strategy to rationalize its invested capital and focus on its core business of premium seamless tubular solutions [2][4]. - Serimax generated approximately €105 million in revenues in 2024, indicating its profitability as a standalone entity [2]. Group 2: Strategic Implications - Aldebaran, the French investment company acquiring Serimax, will support the subsidiary's ambitious development plans in markets outside of Vallourec's operations [3][4]. - The divestment aligns with Vallourec's New Vallourec plan, which aims to streamline operations and enhance focus on core competencies [4]. Group 3: Company Background - Vallourec is a leader in premium tubular solutions for energy markets and demanding industrial applications, employing nearly 14,000 people across more than 20 countries [5]. - Aldebaran Capital Partners specializes in transforming small and mid-sized companies, providing resources for strategic and operational success [6].