Boulogne-Billancourt, 22 February 2012 - Vallourec, world leader in premium tubular solutions, today announced its results for the fourth quarter and full year 2011. The consolidated financial statements were presented by Vallourec's Management Board to its Supervisory Board.
Key Figures
Q4 2011:
Sales volume of 589 thousand tonnes
Sales up 19% versus Q3 2011 to € 1,553 million
EBITDA up 12% versus Q3 2011 to € 254 million representing 16.4% of sales
Full year 2011:
Sales volume up 19% to 2,251 thousand tonnes
Sales up 18% to € 5,296 million
EBITDA up 2% to € 940 million representing 17.7% of sales
Net income, Group share of € 402 million
Proposed dividend of € 1.30 per share
2011 Highlights
Start up of new capacity at Valinox Nucléaire, France
Inauguration of new Brazilian plant VSB
Partnership with Tianda Oil Pipe to serve the Chinese Oil & Gas market
Acquisition of Zamil Pipes in Saudi Arabia