Vallourec posted 2003 results

Vallourec posted 2003 results

French seamless tube and tubular products producer Vallourec has recently announced its 2003 year results. Accordingly, consolidated sales of the company decreased by 6.8% to €2.38 billion, when compared with the figure recorded in 2002. Consolidated net income is recorded as €77 million against €141.6 million recorded in 2002. Moreover, group net income decreased by 38.7% to €39.7 million against €64.7 million recorded in 2002. The EBITDA (earnings before interest taxes depreciation and amortization) of the company is recorded as €219.8 million. Moreover, the company posted its operating income as €119 million for 2003 against €256.5 million recorded in 2002.