Report

Vallourec : Attractive bonds amid the upturn

On 30 June 2021, Vallourec completed its financial restructuring which enabled a major clean-up of its balance sheet. At the same time, H1 2021 results benefited substantially from the topflight performance of its iron ore mine in Brazil. From the low point in 2020, activity is taking longer to recover in oil & gas markets, but should show a more marked recovery from 2022. In this Special Comment, we detail Vallourec's new debt structure, results and outlook. - - - - - - - - - §ny...
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.

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