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]

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]