France-based pipe manufacturer Vallourec has announced its financial results for the third quarter and the first nine months of 2018.
Vallourec’s sales revenue rose by 4.7 percent to €2.8 billion in the first nine months of this year, while its sales revenue in the third quarter of the year decreased by 0.3 percent to €961 million, both year on year. The company’s net loss in the first nine months this year amounted to €307 million, compared to €373 million the previous year, while the net loss in the third quarter of the current year was €92 million, compared to a net loss of €119 million in the third quarter of 2017.
In the first nine months of 2018, the company’s sales volume rose by 4.3 percent to 1.67million mt, up from 1.6 million mt in the same period of 2017, due to the positive impact of both volume and price increases in the US. In the third quarter, the sales volume declined by 0.9 percent year on year to 583,000 mt.
In the fourth quarter of 2018, Vallourec expects continuing high demand for its products in the international markets, despite a softer demand from the US due to the Section 232-induced temporary build-up in inventories in the US domestic market.