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Vallourec (VK) investor relations material
Vallourec AGM 2026 summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Opening remarks and agenda
The meeting was opened with introductions of key board members, statutory auditors, and confirmation of legal formalities and quorum, with 77.23% attendance enabling valid deliberation on all agenda items.
Financial performance review
2025 revenue was €3.8 billion, down 6% year-on-year, with EBITDA at €819 million (21.5% margin), and net profit at €355 million, reflecting resilience despite adverse currency impacts.
Net cash position improved to €39 million, with €370 million paid out to shareholders and gross debt reduced to €862 million.
Liquidity stood at €1.7 billion, and all three major rating agencies upgraded the company to investment grade.
Mining and forestry EBITDA rose to €171 million, driven by mine expansion.
Board and executive committee updates
Board comprises nine members (55% women, 45% men, eight nationalities, 63% independence), with recent changes reflecting shareholding adjustments and leadership continuity.
Philippe Guillemot’s term as Chairman and CEO was renewed, maintaining unified leadership for strategic continuity.
- Q1 2026 saw strong EBITDA, cash flow, and resilient markets, with robust shareholder returns.VK
Q1 202619 May 2026 - Strong 2025 EBITDA and cash flow drive €650 million shareholder returns and 2026 growth.VK
Q4 202527 Feb 2026 - Q2 EBITDA €215m–€250m, net debt €364m, strong international demand, returns in 2025.VK
Q2 20242 Feb 2026 - Q3 EBITDA margin 19%, net debt €240m, guidance reaffirmed, major contracts secured.VK
Q3 202414 Jan 2026 - Zero net debt, €214m Q4 EBITDA, and first dividend in a decade signal transformation.VK
Q4 20246 Jan 2026 - Q1 2025 EBITDA margin hit 21% with strong cash flow and a proposed €1.50 dividend.VK
Q1 202521 Nov 2025 - Strong results, €1.50 dividend, ESG focus, and board refresh define the 2025 AGM.VK
AGM 202519 Nov 2025 - Q3 2025 EBITDA hit €210M with a 23% margin; net income rose to €134M and net debt fell.VK
Q3 202514 Nov 2025 - Q2 2025 EBITDA margin hit 22% with strong cash returns and improved H2 outlook.VK
Q2 202525 Jul 2025
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