France’s Vallourec increased its profits in the third quarter

French pipe manufacturer Vallourec reported a 12% increase in EBITDA in the third quarter compared to the previous quarter, reaching €210 million.

This result was driven in particular by higher sales volumes in the pipe division, as well as cost-saving measures and higher profitability in the mining and forestry businesses.

The result is within the range of €195-225 million that the group forecast when summarizing the results for the previous quarter.

Vallourec expects EBITDA to be €799-829 million in 2025, with fourth-quarter earnings expected to be in the same range as in July-September.

In the third quarter of 2025, the company’s revenues from pipe sales increased by 1% y/y – to €842 million, while shipments rose by 4% y/y – to 303 thousand tons. The Group forecasts that production volumes in the pipe segment in October-December will be slightly higher than in the previous quarter.

As noted by Philippe Guillemot, Chairman of the Board of Directors and Chief Executive Officer of Vallourec, the company’s advantageous production presence and reputation for high-quality pipe solutions are paying dividends in the US. According to him, the group’s orders in this market have been high in recent months and reflect stable customer activity in the drilling sector. The company expects a slowdown in imports, which currently account for about 40% of OCTG pipe supplies to the US market, amid higher steel tariffs.

In addition, Guillemot announced that the company had signed a major contract in Brazil in the third quarter. The long-term agreement with Petrobras will enable Vallourec to expand its market share and once again demonstrate its ability to deliver high value-added solutions from its domestic production base. The contract has a potential revenue of up to $1 billion over four years.

The CEO of Vallourec noted that the company is seeing delays in customer activity in certain markets in the Eastern Hemisphere, so some orders will be placed in 2026, later than originally planned.

As a reminder, in August last year, ArcelorMittal completed the acquisition of a 28.4% stake in Vallourec. The transaction was valued at €955 million.