Vallourec reduced pipe sales by 4% y/y in 2025

French steel group Vallourec reduced its pipe sales by 4% y/y – to 1.24 million tons in 2025, according to the company’s latest report.

In the fourth quarter, the figure decreased by 7.4% – to 335,000 tons.

Iron ore sales in January-December 2025 amounted to 6.2 million tons, up 14.8% year-on-year. In the fourth quarter, this figure was 1.5 million tons, up 0.2 million tons compared to the same period last year.

The company reported EBITDA of €214 million for the fourth quarter of 2025, unchanged from the same period in 2024 and in line with its forecast. Quarterly results were impacted by a €10 million currency translation loss and lower pipe production volumes.

EBITDA for 2025 amounted to €819 million compared to €832 million in 2024. This figure is expected to range from €165 million to €195 million for the first quarter of 2026.

Vallourec forecasts continued high pipe sales volumes in North America thanks to its market share growth over the past year. The company expects a slight decline in prices in the US market in the near term, but with an improvement later in the year.

In the international segment, the company expects lower pipe sales in the first half of 2026 due to a slowdown in orders in the second half of last year. The metallurgical group also notes a recovery in activity in key Middle East markets.

According to Philippe Guillemot, Chairman of the Board of Directors and CEO of Vallourec, in 2026 the company will focus on profitable growth through targeted research and development, as well as capital investments to address energy challenges. In particular, the group is advancing its ambitions in the field of new energy sources, recently announcing a partnership with XGS Energy in the cutting-edge geothermal sector and signing a memorandum of understanding with Baker Hughes in the hydrogen sector. Guillemot noted that the company is seeing particularly strong momentum in geothermal markets.

As a reminder, Vallourec is developing hydrogen storage solutions – the group will collaborate with Geostock, a company specializing in underground energy storage, to develop infrastructure solutions for the energy transition. The parties signed a memorandum of understanding in December 2025.