2007 third quarter results

14/11/2007 - Finance
Another strong quarter for Vallourec.

 

 

Third quarter sales up 8.3%

EBITDA/sales ratio maintained at high level: 28.1%

Net income, Group share, up 4.2%, giving a rise of 7.6% for the first nine months of the year

 

Boulogne-Billancourt, 14 November 2007 - Vallourec, world leader in the production of seamless steel tubes, today announced its results for the third 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 third quarter of 2007 increased by 8.3% compared with the third quarter of 2006 to reach € 1,499.6 million. For the first nine months, the Group achieved growth of 10.0% (+11.1% on a comparable basis(1)).

EBITDA rose by 4.2% to € 421.0 million in the third quarter, giving an EBITDA/sales ratio of 28.1%. For the first nine months, EBITDA increased by 5.8% to € 1,312.2 million, equivalent to 29.1% of sales.

Net income, Group share, increased by 4.2% to € 248.0 million in the third quarter and by 7.6% to € 743.4 million in the first nine months.

 

(1) After restatement of 2006 sales to make them comparable with those of 2007 by taking into account, in particular, the disposal to Salzgitter of the precision tubes activities.

 


About Vallourec

Vallourec is a world leader in the production of seamless steel tubes designed primarily for the Oil and Gas and Power generation sectors, and other industrial applications.

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 and CAC 40. FTSE classification: engineering and machinery.

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