2007 second quarter results

31/07/2007 - Finance
Vallourec benefits from balanced growth in all its markets.

 

 

Q2 sales up 11.4%

Q2 EBITDA/sales ratio maintained at high level: 29.9%

Q2 net income, Group share, up 7.5%

 

Boulogne-Billancourt, 31 July 2007 – Vallourec, world leader in the production of seamless steel tubes and tubular products for specific industrial applications, today announced its results for the second 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 second quarter of 2007 increased by 11.4% to reach a record € 1,558.2 million. For the first six months, the Group achieved sales growth of 10.8%.

EBITDA rose by 3.6% to € 466.6 million in the second quarter, giving an EBITDA/sales ratio of 29.9%. In the first half of 2007, EBITDA increased by 6.6% to € 891.2 million, equivalent to 29.6% of sales.

Net income, Group share increased by 7.5% to € 257.7 million in the second quarter and by 9.5% to € 495.4 million in the first half.

 


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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