Group 1: European Market Overview - European stocks showed mixed performance as the U.S. faced a government shutdown after the Senate failed to pass a short-term spending bill [1] - The pan-European Stoxx 600 index increased by 0.2 percent to 559.42, following a 0.5 percent rise on Tuesday [1] Group 2: National Indices Performance - The German DAX decreased by 0.2 percent, while France's CAC 40 saw a slight decline [2] - The U.K.'s FTSE 100 rose by 0.7 percent, supported by a survey indicating accelerated growth in U.K. house prices [2] Group 3: Housing Market Insights - U.K. house prices experienced an annual growth of 2.2 percent in September, up from 2.1 percent in the previous month, surpassing the forecast of 1.8 percent [2] - On a monthly basis, house prices rebounded by 0.5 percent after a 0.1 percent decline in August, exceeding economists' expectations of a 0.2 percent increase [3] Group 4: Pharmaceutical Sector Developments - Pharmaceutical stocks gained traction as Pfizer secured a deal with the U.S. government to reduce prescription drug prices in exchange for tariff relief [3] - Notable stock movements included Sartorius rising by 6.7 percent, Merck increasing by 5.2 percent, and Roche jumping by 5.3 percent [3] Group 5: Company-Specific News - Tate & Lyle, Plc saw a significant drop of almost 10 percent after revising its revenue and EBITDA outlook for the fiscal year ending March 31 [4] - Vallourec's shares increased by 2.2 percent following a new order from Petrobras for over 30 units of its Oil Country Tubular Goods solution [4] - British bakery chain Greggs surged by 8.2 percent, reporting a 6.1 percent sales growth for the third quarter of 2025 [5] - Technip Energies gained 1 percent after securing two engineering contracts from Repsol for the Ecoplanta project [5] - Diageo's stock rose by about 2 percent after pricing €1 billion of fixed-rate bonds under its European Debt Issuance Program [5] - Dutch engineering consultancy Arcadis surged by 8 percent due to share buyback announcements [6]

Core Viewpoint - Vallourec announces a partial redemption of its senior notes maturing in 2032 for an amount of $82 million, which corresponds to 10% of the total principal amount of the notes [1][2]. Group 1: Financial Impact - The redemption of the notes is aimed at optimizing the Group's capital structure and reducing borrowing costs [2]. - Vallourec reaffirms its target of distributing 80-100% of total cash generation to shareholders, indicating that this transaction will not materially affect the amount available for such distributions [2]. Group 2: Redemption Details - The notes will be redeemed at a price equal to 103% of the principal amount, plus any accrued and unpaid interest, with the redemption date set for September 13, 2025 [3]. - Payment related to this redemption will occur on the business day following the redemption date, specifically on September 15, 2025 [3]. Group 3: Management Commentary - Philippe Guillemot, Chairman and CEO, stated that this transaction is a step towards capital structure optimization and demonstrates the company's commitment to maintaining a strong balance sheet with low leverage and high liquidity [4]. Group 4: Company Overview - Vallourec is a leader in premium tubular solutions for energy markets and demanding industrial applications, employing nearly 13,000 people across more than 20 countries [7]. - The company focuses on delivering innovative and competitive tubular solutions, emphasizing its commitment to R&D and technological advancement [7]. Group 5: Market Position - Vallourec is listed on Euronext in Paris and is part of several indices, including CAC Mid 60 and SBF 120, with an established Level 1 American Depositary Receipt (ADR) program in the United States [8].

Core Viewpoint - Vallourec has made its Interim Financial Report for the half-year ending June 30, 2025, publicly available and filed it with the French securities regulator [2]. Group 1: Financial Report Details - The report includes consolidated financial statements, an activity report, a statement from the responsible person, and the Statutory Auditors' review report [2]. - The Interim Financial Report can be accessed on Vallourec's official website [3]. Group 2: Company Overview - Vallourec is a global leader in premium tubular solutions for energy markets and industrial applications, employing nearly 13,000 people across more than 20 countries [4]. - The company focuses on innovative and competitive tubular solutions for various demanding sectors, including oil & gas and power generation [4]. Group 3: Stock Information - Vallourec is listed on Euronext Paris and is part of several indices, including CAC Mid 60 and SBF 120 [5]. - 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 [5]. Group 4: Financial Calendar - The next financial results release is scheduled for November 14, 2025, covering the third quarter and nine months of 2025 [6].

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].

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 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]

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]