Vallourec reports Q4 and full year 2011 results

22/02/2012 - Finance
Vallourec today announced its results for the fourth quarter and full year 2011.

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


About Vallourec

Vallourec is a world leader in premium tubular solutions primarily serving the energy markets, as well as other industrial applications.

With over 22,000 employees, integrated manufacturing facilities, advanced R&D, and presence in more than 20 countries, Vallourec offers its customers innovative global solutions to meet the growing energy challenges of the 21st century.

Listed on NYSE Euronext in Paris (ISIN code: FR0000120354, Ticker VK) and eligible for the Deferred Settlement System, Vallourec is included in the following indices: MSCI World Index, Euronext 100 and CAC 40.

In the United States, Vallourec has a sponsored Level 1 American Depository Receipt (ADR) program (ISIN code: US92023R2094, Ticker: VLOWY). The ratio of Vallourec ADR to ordinary shares is 5:1.

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