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%)
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.