Stakeholders
Employees
Employees
Training: encouraging talent to flourish
The most important players in our transformation are our employees. They help strengthen our competitive edge. To keep them motivated and engaged in Vallourec’s development, we do everything we can to help them match their individual aspirations with company needs. With an ambitious training program suitable for a world leader in smart tubular solutions, the company encourages employees to make the most of their talents throughout their careers.
Our vision for nurturing talent is based on three goals:
- Maintaining an appropriate level of engagement
- Guaranteeing the necessary managerial and technical skills through training and availability of the most effective tools
- Helping all of our employees to achieve the best possible work-life balance
Continuing education—a tool for strategic, managerial, and technical excellence—is primarily provided by Vallourec University. This learning center offers customized training to help employees acquire and reinforce their skills. Almost half of the time spent in training is used to improve career skills, while about a third of the time is spent on safety training.
Improving working conditions
Vallourec relies on several initiatives to improve employees’ working conditions and efficiency. In France, an agreement involving employee representatives and managers made working from home possible for employees of all work sites. Furthermore, experiments are being conducted to facilitate quality control and maintenance operations using augmented reality. Finally, robots are being tested as an alternative way of performing repetitive administrative tasks.
Remuneration: ensuring motivation and loyalty
Vallourec has a motivating, equitable approach to remuneration that includes incentive and profit-sharing schemes, which link employees to overall company performance. In 2023, these schemes totaled 30 million euros.
Respecting parity with the gender equality index for professionals
This index is based on 5 indicators:
- the gender pay gap
- the distribution gap of individual increases
- the promotion distribution gap
- the number of employees increased upon their return from maternity leave
- the number of people of the under-represented sex in the top 10 highest earnings
Our scores
Pay gap indicator: 40/40
Increase rate gap indicator: 20/20
Promotion rate gap indicator: 15/15
Return from maternity leave indicator: 15/15
High pay indicator: 5/10
Pay gap indicator: 40/40
Individual increase rate gap indicator: 35/35
Return from maternity leave indicator: not calculable
High pay indicator: 0/10
Pay gap indicator: 38/40
Increase rate gap indicator: 10/20
Promotion rate gap indicator: 15/15
Return from maternity leave indicator: not calculable
High salary indicator: 0/10
Pay gap indicator: not calculable
Individual increase rate gap indicator: 35/35
Return from maternity leave indicator: not calculable
High pay indicator: 5/10
Pay gap indicator: not calculable
Individual increase rate gap indicator: 35/35
Return from maternity leave indicator: 15/15
High remuneration indicator: 0/10
Compensation gap indicator: 33/40
Individual increase rate gap indicator: 35/35
Return from maternity leave indicator: 15/15
High pay indicator: 0/10
Diversity: developing opportunities
Our gender policy focuses on two goals:
- Bringing more women into operations jobs, especially production jobs
- Facilitating the promotion of women to more senior positions
The network Women@Vallourec, composed of committed male and female volunteers, is dedicated to discussion and reflection on equality and on women’s place within the group. It proposes different measures to advance and promote gender diversity.
With Women@Vallourec, we are part of a movement for collective progress. Gender diversity is a key element of our diversity policy at all levels of the hierarchy. It’s a powerful driver for performance, innovation, and shared enrichment. Promoting gender diversity is an act of leadership.
On March 8, 2018, Vallourec signed the United Nations Global Charter on “Women’s Empowerment Principles” (WEP) in the Middle East, committing to do everything possible to provide women and men with the same opportunities to reach their full potential.
The charter’s principles include education, training and professional development for women, as well as a commitment to equality at the highest level of the company.
Our Customers
As a trusted partner, we offer customers solutions with high added value that help them lower their operating costs, wherever they need support, throughout the entire value chain. We know our markets and customers inside out. We welcome our customers’ feedback, since it helps us better understand their needs and anticipate their expectations.
This strength, amplified by our culture of constant innovation and technological leadership, has enabled us to design a new set of services brought together in Vallourec.smart. This bundle of integrated services, which takes our competitiveness to another level, aims to improve the performance of our existing physical services, enrich our deep knowledge of the field, and offer new services that take full advantage of the digital world. We co-develop these high-value-added solutions with our customers to ensure that they fit their needs perfectly. Our approach is innovative, proactive, comprehensive, and agile—all for an unprecedented experience.
Our shareholders
We cultivate a close, trusting relationship with our shareholders. Regular informational meetings are held as part of this relationship. The annual general meeting is an unmissable event that Vallourec executives consider to be a special moment for dialogue, listening, and coming together around a shared ambition: value creation. Beyond the AGM, the year is punctuated by events organized by the Shareholders’ Club.
As required by current regulations, we are committed to providing candid, transparent information to all of our shareholders through our various channels for financial communication (activity report, letter to shareholders, website, news feed).
Our investors and financial analysts
On a regular basis and in accordance with best business practices, the Investor Relations Department organizes, along with various members of the Group’s executive management, meetings with institutional investors and financial analysts, including SRI (socially responsible investment) specialists, in France and abroad:
- Each quarter, a conference call is organized when the financial results are released. Members of the Management Board present the results and answer questions from analysts. The conference call is broadcast live and rebroadcast on the Group’s website;
- Each year, when public health conditions allow, a face-to-face meeting is held in Paris, upon release of the Group’s annual results;
- Vallourec regularly participates in events on socially responsible investment (SRI). These meetings with investment funds and SRI analysts contribute to the Group’s progress in the field of sustainable development;
- Periodically, an Investor Day is organized, where a presentation is made to the financial community on the Group’s strategy, products and operations. Accessible to everyone in the form of a video broadcast that is available on the Group’s website, the Investor Day allows investors and analysts to have detailed discussions with the Management Board and the operational supervisors on a wide range of topics, outside of the periods for reporting results.
Our suppliers
Suppliers
As a “partner for every possibility” for our customers, we seek to build the same kind of contractual, long-term relationship with our suppliers. Our desire to strive for excellence and innovation goes hand-in-hand with a responsible purchasing policy. Our Sourcing department follows consistent policies and balances centralized management with local guidance, using tools and processes shared by all group entities. The goal: optimize management of our suppliers, monitor their performance, and facilitate synergies.
We choose suppliers based on corporate social responsibility criteria. We have very high standards with regard to sustainable development, ethics, and safety, since the stakes for the group are equally high. We regularly perform inspections to identify supplier risks in France and elsewhere in the world, and we implement corrective actions to minimize them.
Our 9 key selection criteria
- Quality, costs and deadlines
- Compliance with environmental, social and safety regulations
- Compliance with the Group’s general purchasing conditions
- Support the Group’s competitiveness
- Supporting innovative initiatives
- Reliability and flexibility
- Global and regional players
- Willingness to build strong partnerships
- Ability to communicate at all levels
Supporting local communities
Local Communities
We emphasize open, constructive dialogue with populations that live near our installations. This facilitates the development of local support partnerships, sometimes at the initiative of our employees.
Beyond that, we are involved in numerous support programs in each of our three regions that promote education, environmental care, health and development. In 2023, Vallourec dedicated about 2,3 million euros to such initiatives.
Brazil has some of the best examples of these projects. Located in Belo Horizonte, in a very urban area, our Barreiro site has spent decades cultivating a close relationship with local stakeholders. In close collaboration with local authorities and with the support of tax incentives, Vallourec has launched economic, cultural, and athletics programs for the populations most in need.
Indonesia features another excellent example. Our subsidiary PT Citra Tubindo Tbk promotes programs that provide educational, medical, social, and athletic support, especially those that focus on children. The TERRIE, SARAH and VALERIE programs provide the necessary industrial and technical skills for people undergoing retraining or wishing to enter the job market.
