France-based pipe manufacturer Vallourec has announced its financial results for the third quarter and the first nine months this year.
In the third quarter this year, Vallourec’s sales revenue decreased by 10.9 percent year on year to €1.14 billion, mainly driven by lower deliveries to Europe and North America, while it reported EBITDA of €222 million, compared to €198 million in the third quarter last year. In the first nine months this year, the company’s sales revenue totaled €3.84 billion, up by 15.0 percent year on year, while its EBITDA was €916 million, compared to €403 million in the same period last year.
In the given period, the company’s sales volume fell by 25.7 percent year on year to 343,000 mt.
Vallourec forecasts prices will stabilize in the near-term. The company expects an EBITDA in the range of €1.07-1.17 billion for the full year, compared to the previous €950 million-1 billion range.
