Vallourec benefits from the good overall performance of its markets

03/05/2007 - Finance
Vallourec today announced its results for the first quarter of 2007.

 

 

Record quarterly sales of 1,453.9 million (up 10.3%)

EBIRDA/Sales ratio maintained at high level of 29.2%

Net income, Group share increase to € 237.7 million (up 11.6%)

Outlook confirmed

 

Boulogne-Billancourt, 3 May 2007 – Vallourec, world leader in the production of seamless steel tubes and tubular products for specific industrial applications, today announced its results for the first quarter of 2007. The consolidated financial statements were presented today by Vallourec's Management Board to its Supervisory Board, chaired by Jean-Paul Parayre.

Consolidated sales in the first quarter of 2007 increased by 10.3% to reach a record € 1,453.9 million. EBITDA rose by 10.2% to € 424.6 million, giving an EBITDA/sales ratio of 29.2%, the same as in the first quarter of 2006. Total net income increased from € 233.6 million to € 249.3 million while net income, Group share increased by 11.6% to 237.7 million.

 


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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