Vallourec reports Q2 and Half Year 2012 results

26/07/2012 - Finance
Vallourec today announced its results for the second quarter and first half of 2012.

Boulogne-Billancourt, 26 July 2012 - Vallourec, world leader in premium tubular solutions, today announced its results for the second quarter and first half of 2012. The consolidated financial statements were presented by Vallourec’s Management Board to its Supervisory Board.

Q2 2012:

Sales up 11% versus Q1 2012 at €1,328 million

EBITDA of €191 million; up 25% versus Q1 2012 at 14.4% of sales

Net income, Group share of €57 million

H1 2012:

Sales of €2,527 million

EBITDA of €343 million; 13.6% of sales

Net income, Group share of €85 million

Highlights:

Ramp-up of VSB progressing according to schedule

First billet pierced at new US pipe mill on 29 June 2012

Outlook:

EBITDA margin objective maintained in a difficult environment for non-Oil & Gas

 


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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