An exhaust valve spindle (1) for an internal combustion engine, particularly a two-stroke crosshead engine, which exhaust valve spindle comprises a valve head (3) with a base portion (4) of an alloyed steel, and an outer facing (5) forming the surface of the valve spindle towards a combustion chamber. The outer facing (5) has been formed from particulate starting material of a hot-corrosion-resistant alloy being nickel-based, chromium- based or cobalt-based, where said particulate starting material has been united to a coherent layer. At least at the transition zone to the base portion (4) the particles in the particulate material of the outer facing (5) have been deformed into oval or elongate shapes by shear strain caused by forging the outer facing and the base portion, and that the forged outer facing (5) has a density of at least 98.0 %.