French steel pipemaker Vallourec raises its financial outlook
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)