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.