France-based pipe manufacturer Vallourec has announced its financial results for the fourth quarter and the full year of 2018.
Vallourec’s sales revenue rose by 11 percent to €3.9 billion in 2018, while its sales revenue in the fourth quarter of the year improved by 4.3 percent to €1.12 billion, both year on year. The company’s net loss in 2018 amounted to €502 million, compared to €537 million in the previous year, while the net loss in the fourth quarter of last year was €103 million, compared to a net loss of €164 million in the fourth quarter of 2017.
In 2018, the company’s sales volume rose by 4.8 percent to 2.36 million mt, up from 2.25 million mt in 2017. In the fourth quarter, the sales volume rose by six percent year on year to 694,000 mt.
In 2019, Vallourec expects a continuing recovery in oil and gas activity primarily driven by the international markets, and a strong increase in EBITDA, supported by market trends, additional savings, as well as ongoing deployment from the group’s new competitive manufacturing routes.