Report
Baptiste Lebacq

Vallourec : Attachez vos ceintures, le free cash-flow arrive

>Opinion Surperformance - A l’issue de la publication des résultats du T2 22 (cf. First take du 26/07/22 pour de plus amples détails) et de la conférence call qui a suivi, nous relevons notre séquence d’EBITDA de 26% en moyenne sur 2022/24 suite principalement à l’intégration des effets du plan de restructuration (impact de ce plan : EBITDA +230 M€ à compter de sa finalisation soit au T1 2024). Nous réitérons notre recommandation Surperformance (OC 16.5 €), la p...
Underlying
Vallourec SA

Vallourec SA is a France-based company, which specializes in the production of seamless and welded steel tube products for industrial applications. It operates through two segments: Seamless Tubes and Specialty Products. For the oil and gas industry, it designs and develops a comprehensive range of products including seamless tubes and connections for drilling operations, line pipes and well equipment. For the power generation market, it offers tubes that withstand severe temperature and pressure conditions. Its solutions enable power companies to meet the challenges of energy efficiency and reduce CO2 emissions in power plants. It also offers a wide range of tubes for petrochemical installations (refineries), for mechanical engineering applications (hydraulic cylinders and machine tools), for the automotive industry, for construction (stadiums, other complex buildings and structures) and for various other industrial sectors. It operates through Vallourec Solucoes Tubulares do Brasil.

Provider
Oddo BHF
Oddo BHF

​Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

Analysts
Baptiste Lebacq

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