According to French industrial pipe manufacturer Vallourec, it has achieved its financial goal of net debt zero a year ahead of schedule, with remarkable success.

Net debt was reduced by more than EUR 240 million in the fourth quarter of 2024, the company said in a press release, and since the third quarter of 2022, debt has been cumulatively reduced by more than EUR 1.5 billion.

Vallourec indicated that improved cash flow, low capital expenditures, and a EUR 155 million gain from the sale of the Rath plant played a key role in this achievement. The company planned to distribute 80% to 100% of the cash flow earned in the second quarter of 2024 to shareholders.

Vallourec will announce its fourth quarter and full year 2024 financial results on February 27, 2025, at which time the company may further illuminate its strategy for future shareholder returns and operating outlook.