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French steel pipemaker Vallourec raises its financial outlook

The company's logo is seen on top of the entrance of French oil industry tubing maker Vallourec at Boulogne-Billancourt, near Paris

PARIS (Reuters) - French steel pipemaker Vallourec on Friday raised its 2021 financial outlook, saying it was targeting core earnings of 350 million-400 million euros ($424 million-$485 million).

That compared with its earlier guidance, given in February, when Vallourec forecast 2021 earnings before interest, tax, depreciation and amortisation of 250 million-300 million euros.

In February, Vallourec reached a financial restructuring deal with its main creditors, to ease its debt situation.

($1 = 0.8256 euros)

(Reporting by Sudip Kar-Gupta; Editing by Edmund Blair)