/** * Render paywall */ public function renderPaywall($content) { // Skip if in Elementor editor if ($this->isElementorEditor()) { return $content; } // Check if we should show full paywall or teaser+paywall $showFullPaywall = apply_filters('en_paywall_show_full', false); if ($showFullPaywall) { // Show only the paywall CTA, no content at all return $this->getCTA(); } // Configuration - Montrer les 2 premières LIGNES $teaserLines = apply_filters('en_paywall_teaser_lines', 2); // Split content into lines while preserving HTML $teaser = ''; $remaining = $content; // Method 1: Try to split by sentences first $sentences = preg_split('/(?<=[.!?])\s+/', strip_tags($content), -1, PREG_SPLIT_NO_EMPTY); if (count($sentences) >= $teaserLines) { // Take first X sentences as "lines" $teaserText = implode(' ', array_slice($sentences, 0, $teaserLines)); // Find where this text ends in the original HTML content $plainContent = strip_tags($content); $cutPosition = strpos($plainContent, substr($teaserText, -20)); // Find last 20 chars if ($cutPosition !== false) { // Try to find the corresponding position in HTML $tempContent = $content; $htmlPosition = 0; $textPosition = 0; while ($textPosition < $cutPosition && $htmlPosition < strlen($content)) { if ($content[$htmlPosition] === '<') { // Skip HTML tag $closeTag = strpos($content, '>', $htmlPosition); $htmlPosition = $closeTag + 1; } else { $textPosition++; $htmlPosition++; } } // Cut at paragraph boundary if possible $nextP = strpos($content, '

', $htmlPosition); if ($nextP !== false && $nextP - $htmlPosition < 200) { $teaser = substr($content, 0, $nextP + 4); $remaining = substr($content, $nextP + 4); } else { // Fallback: just add the text in a paragraph $teaser = '

' . $teaserText . '...

'; } }Vallourec: stable net income despite declining sales in Q3 2024 - energynews
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Vallourec: stable net income despite declining sales in Q3 2024

The French industrial giant Vallourec reported a slight drop in net income to €73 million in Q3 2024. This stability is attributed to its premiumization strategy and strong margins despite challenging market conditions.

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The French seamless steel tube specialist Vallourec released its financial results for Q3 2024, showing a net income of €73 million, a decline of 3.9% compared to the same period in 2023. The company reported revenue of €894 million, down 21.7%. This decrease is mainly due to lower delivery volumes and pricing in the U.S. market, as well as the closure of European sites.

The EBITDA margin remained strong at 19%, despite a 24.3% decline in absolute value, reaching €168 million. According to Philippe Guillemot, CEO of Vallourec, these figures highlight the company’s ability to sustain robust performance in a more challenging economic environment.

A strategic acquisition to strengthen positioning

As part of its premiumization strategy, Vallourec acquired the Brazilian company Thermotite do Brasil in September 2024 for $17.5 million. Specializing in thermal insulation for deepwater offshore projects, this acquisition is the company’s first external growth operation since 2016. This move underscores Vallourec’s intent to expand its technological expertise in high-value segments.

A pressured U.S. market

For the first nine months of the year, Vallourec recorded a cumulative net income of €289 million, a drop of 26.1% compared to 2023. The U.S. market, representing a significant share of the group’s activities, has been particularly affected by reduced volumes and pricing. This situation might evolve depending on a potential rise in tariffs during Donald Trump’s second presidency, a scenario Vallourec asserts it is well-positioned to handle strategically.

Outlook and return to dividends

Despite the challenging market environment, Vallourec plans to propose dividends at its May 2025 general meeting, marking a return awaited for ten years. This decision reflects the group’s overall financial recovery following an intensive restructuring phase from 2020 to 2023, including the closure of German plants and the elimination of 3,000 jobs.

The company continues its transformation efforts by focusing on diversification and premiumization to solidify its performance in a volatile economic environment.

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