2006 annual results

06/03/2007 - Finance
Vallourec benefits from the rise in energy markets.



Strong sales growth: 28.7% to € 5,541.8 million

Record level in operating profitability: EBITDA/sales ratio of 30.1%

Record net income, Group share of € 917.0 million


Shareholder return policy

Proposed ordinary dividend for financial year 2006: € 6 per share

Proposed special dividend: € 4 per share


Boulogne-Billancourt, 6 March 2007 - Vallourec, world leader in the production of seamless steel tubular products for specific industrial applications, today announced its 2006 results. The consolidated financial statements were presented by Vallourec's Management Board to its Supervisory Board, chaired by Jean-Paul Parayre, today.

Consolidated sales for 2006 increased by 28.7% to 5,541.8 million. EBITDA rose by 57.0% to € 1,665.4 million, giving a record EBITDA/sales ratio of 30.1% compared with 24.6% in 2005. Total net income increased by 58.0% to € 999.3 million. Net income, Group share, which include the first full-year effect of the positive impact of acquisition of the 45% stake in V&M TUBES on 1 July 2005, came to € 917.0 million compared with € 473.0 million in 2005.


About Vallourec

Vallourec is a world leader in the production of seamless steel tubes and tubular products for specific industrial applications (oil and gas, power generation, chemicals and petrochemicals, automotive and mechanical engineering industries).

Vallourec is listed on the Euronext Paris Eurolist (ISIN code: FR0000120354), is eligible for the deferred settlement system and is included in the following indices: MSCI World Index, Euronext 100, CAC 40 and SBF 120. FTSE classification: engineering and machinery.

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